Cryptocurrency is a new but appealing asset class with a higher level of volatility than traditional assets. By deliberately buying cryptocurrencies and making frequent, distributed purchases, individuals can feel the power of compounding. Reports coindesk.com.
Coin Switch, a blockchain investment platform, has created a recurrent buy plan (RBP), which is a methodical option to acquire digital currencies. The cryptocurrency unicorn promises to help consumers avoid impulsive purchasing and selling decisions by reducing market volatility. The function operates similarly to a dividend reinvestment plan, in which an investor invests money at different intervals to help diversify his or her portfolio. The RBP feature’s early access application procedure, which began on Monday, will assist users in learning about the feature and making systematic investments in further roughly 70 tokens, notably bitcoins, Ethereum, and doge.
Android users may use the functionality now, while iOS users will be able to utilize it soon. Users can join a backlog to obtain early access to this new feature by signing up. “We wish to assist users throughout their financial experience at Coin Switch. While strategically acquiring crypto assets and making regular, scattered purchases, consumers can feel the power of compounding.
Crypto Platform
CoinSwitch is Today’s largest crypto investing platform, with 15 million registered users”, stated Ashish Singhal, its creator, and CEO. Only native Indian bank accounts are allowed on the platform, and any user who makes a payment above a certain level is subjected to identity filtering (the Potentially Vulnerable Individual condition, Sanctioned list, and unfavorable news). CoinSwitch also released Riskometer in December, a new feature within the app that informs users before they invest in risky cryptos. In September 2021, Coin Switch helped raise 260 million dollars ’ worth of C financial assistance from Andreessen Horowitz and Coinbase Enterprises into becoming India’s most valuable crypto unicorn, with a $1.9 billion valuation.
Just native Indian bank accounts are allowed on CoinSwitch Kuber, and any user who makes a payment above a certain threshold is subjected to a name screening. CoinSwitch also released Riskometer in December, a new feature within the app that informs users before they invest in risky cryptos.
