Indian cryptocurrency exchange ZebPay to initiate an SIP facility for top cryptocurrencies like Bitcoin and Ethereum, in the country to help its customers make a minimum investment of Rs.100 ($1.34).
One of the leading cryptocurrency exchanges in India introduced a new application called ZEBB, on Wednesday. The platform has been launched with an aim of providing simple SIP options in Bitcoin and Ethereum, to the customers. This way the company would be able to lower the barriers of entry.
According to the public statement, the users would be able to operate their SIP investment on a regularly recurring schedule. Also, they could instantly buy/sell it with 0 percent charging fees with ZEBB.
In order to start an SIP investment, the user is required to sign up, complete its KYC process and then buy the cryptocurrency of its own choice.
While talking about the SIP investment, Avinash Shekhar, the co-CEO of ZebPay, stated, “At ZebPay, we have always encouraged investors to dollar or rupee cost average. With ZEBB, we are making it easy and effortless for investors to do so. Moreover, Bitcoin and Ethereum are revolutionary technologies with tremendous growth potential, and SIP is known as one of the most efficient models of wealth creation helping users to invest in the best possible average buy price.”
He further explained with an instance and stated that if any of its customers had bought Bitcoin worth Rs. 100 ($1.34), every week in the past year, they would have earned a profit of at least 72 percent on their total investment of Rs. 5200 ($69.76).
Both, Bitcoin and Ethereum are considered to be the two most important cryptocurrencies. They both have the largest market capitalization of $63 billion and $43 billion, respectively. However, both of these cryptocurrencies experience a large fluctuation in their price depending on the demand and supply in the market. Therefore, rupee cost averaging is the best way to get an average price on these assets, said the company.