NEW DELHI: Since high prices of top cryptocurrencies such as Bitcoin and Ethereum can deter many investors, the ZebPay crypto exchange will set up a SIP facility to enable investments from 100 rupees.
ZebPay today launched a new app called ZEBB that offers users simple SIP options in Bitcoin and Ether. The company announced that it was planning to lower the entry barrier.
Users can automate their SIP investments according to a regularly recurring schedule (e.g. weekly) and enjoy instant buy / sell with ZEBB with 0 percent purchase fees. All users need to do is log in, complete the KYC process, and start buying Bitcoin or Ether.
“At ZebPay, we have always encouraged investors to calculate average dollar or rupee costs. With ZEBB, we make it easy and effortless for investors. Additionally, Bitcoin and Ethereum are revolutionary technologies with huge growth potential, and SIP is known as one of the most efficient wealth creation models that helps users invest in the best possible average purchase price, ”said Avinash Shekhar, Co-Chief Executive Officer, ZebPay.
For example, if an investor had bought Bitcoin worth 100 rupees every week last year, they would have gained around 72 percent of their total investment of 5,200 rupees.
Bitcoin is the largest cryptocurrency with a market capitalization of more than a trillion dollars. Ethereum is the second largest cryptocurrency with a market capitalization of over $ 43 billion.
However, both Bitcoin and Ether prices can fluctuate widely depending on the demand and supply in the market. Therefore, averaging the rupees is the best way to get an average price for these assets, the company claimed.