New Delhi: As high prices of top cryptocurrencies like Bitcoin and Ethereum can be a deterrent many investors, the cryptocurrency exchange ZebPay will initiate an SIP facility to enable investments as low as Rs 100.
ZebPay today launched a new app called ZEBB, which will provide users with simple SIP options in Bitcoin and Ether. The company said the plan is to lower the barrier of entry.
Users can automate their SIP investing on a regular recurring schedule (such as weekly), enjoy instant buy / sell with 0 percent buying fees with ZEBB. Users simply need to sign up, complete the KYC process and start buying Bitcoin or Ether.
"At ZebPay, we have always encouraged investors dollar or rupee cost average. With ZEBB, we make it easy for investors to do that. Furthermore, Bitcoin and Ethereum are revolutionary technologies with tremendous growth potential, and SIP is known as one of the most efficient wealth-building models to help users invest at the best possible average purchase price,”said Avinash Shekhar, Co-Chief Executive Officer, ZebPay.
He added if, for instance, an investor had bought Rs 100 worth of bitcoins every week for the past year, he would have gained about 72 percent on their total investment of Rs 5,200.
Bitcoin is the largest cryptocurrency with a market capitalization of over $ 1 trillion. Ethereum is the second largest cryptocurrency with a market capitalization of more than $ 43 billion.
However, the prices of both Bitcoin and Ether can experience significant fluctuations depending on the supply and demand in the market. Therefore, rupee cost averaging is the best way to obtain an average price on these assets, the company claimed.
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