Every time I need cash for something it’s always when BTC is at the worst possible price
Every time I need cash for something it’s always when BTC is at the worst possible price
Swear this is some kind of curse. Transmission went out last spring, BTC was down around 15% that week. Needed to cover a security deposit on a new apartment, BTC dipping. Insurance deductible after someone backed into my car, you already know.
Every single time. I never need money when we’re pumping… It’s always during a dip or right before a run. And every time I open Coinbase, sell what I need, and then watch it recover within weeks.
Started looking into borrowing against it instead after the last time because I genuinely can’t keep doing this to myself. A few people at work mentioned they use different platforms for it, one guy uses Ledn, another’s been on Nexo for a while. Signed up on Nexo just to poke around, haven’t pulled the trigger on an actual loan yet. The idea of just taking a small loan and paying it back from my paycheck instead of permanently selling at the worst time sounds almost too easy.
I just wonder if anyone actually has a good plan for this or if most of us are just winging it and selling at the worst time.
you need to have an emergency fund before buying into cryptocurrency.
I do the same but I just realize it just comes down to poor management on my end. Taking a loan against your crypto is really just a band aid of the issue, what it really comes down to is everybody should have an emergency fund of cash set aside for whenever real life issues occur so that you don’t have to sell during a bear market phase. This is way harder in practice but if you try to flip the narrative in your brain it really is the only solution, the good news is the next time something happens you will be on the other side with cash and not stressed and can think more clearly, and if nothing comes up you can stack more crypto for a discount flip the narrative, cash reserves, then crypto.