Cryptocurrency asset exchange ZebPay announced on Wednesday the launch of a new application designed to allow System Investment Program (SIP) options in Bitcoin and Ethereum. The application is called ZEBB and allows users to activate SIP for as little as Rs. 100 started investing in two leading cryptocurrencies. The new app was launched amidst the falling prices of Bitcoin and Ethereum. However, despite the sharp decline in prices in the past few days, these two cryptocurrencies are still popular investment options. Some other cryptocurrency exchanges in India, such as WazirX, also have nominal rupees. With a minimum investment cap of 100, ZebPay plans to make long-term, recurring investments in digital currencies easier. The recurring investment model will also help ZebPay increase the active usage rate of its cryptocurrency exchanges.
ZebPay stated in a statement that ZEBB aims to lower the barriers to entry for investing in Bitcoin and Ethereum. Users only need to register and complete their KYC process to start investing in cryptocurrency through the application.
After registration, you can set up a regular SIP plan (for example, weekly) on the app to use ZEBB to buy and sell Bitcoin and Ether. This experience is similar to how to buy mutual funds through SIP. You can also buy Bitcoin and Ether units at once. ZebPay claims that the app charges a zero percent purchase fee.
In addition to allowing users to easily invest in cryptocurrencies, ZEBB is also touted as having the same level of customer data security as well as the security of customer deposits and wallet assets that ZebPay provides to its ordinary customers.
The purpose of enabling SIP in Bitcoin and Ethereum is to encourage investors to adopt the rupee cost averaging method, that is, users regularly invest a fixed amount of funds to purchase more investment shares over time.
ZebPay Co-CEO Avinash Shekhar said: “Bitcoin and Ethereum are revolutionary technologies with huge growth potential, and SIP is known as one of the most effective wealth creation models, which can help users to make the best average purchase price. Investment.”.
He added, for example, if an investor bought Bitcoin worth Rs. In the past year 100 times a week, their total investment of rupee will get about 72% of the return. 5,200.
The price of Bitcoin in India is currently Rs. 24,11,554, a decrease of 2.45% in the past 24 hours. On the other hand, the price of Ether in India has fallen by 4.31% in the past 24 hours and is now Rs. 1,44,275.
ZEBB can be downloaded for free on Android and iOS through the Google Play Store and Apple’s App Store, respectively. Currently restricted to Indian citizens.
Similar to ZEBB, solutions such as Bitdroplet and Unocoin allow you to create SIP in Bitcoin.