Those who are lacking emergency funds, living in paycheck to paycheck, and struggling with depts should just avoid bitcoin investment
In this case, they should reconsider their entire financial strategy. There are simple rules that objectively help people and should be followed in the following order:
1. repay your short-term debts.
2. build an emergency fund. The size of the "emergency fund" is completely subjective and depends on the individual's financial status (expenses, salary, personal life etc).
3. have a plan to repay your long-term debts.
4. invest
Some tips:
(a) you can use other types of bank accounts for the emergency fund, where you gain at least 1% so that you can deal (partly) with the inflation.
(b) the emergency fund can be used freely, don't stack money in there just to stack them. Just put an upper threshold and when you are lower than that, refill it.
(c) if you can't put aside more than 1% of your salary in the emergency fund until you fill it, then just put 1%. Don't ignore it, because even a car's flat-tire, or a small house emergency will require you to use credit that you haven't planned to use.
Knowledge and understanding are also essential in bitcoin investment, so those who lack knowledge and understand about bitcoin investment should just avoid it, because if they invest in bitcoin with ignorance sorry is their name.
Yes, it's very important, but considering that most people keep their money in exchanges, I can safely guess that in fact the opposite happens.
