This is it? This is your present and future? Hustling through the week, waiting eagerly for the weekend, watching it disappear in a blink? Surely life can’t all be about earning just enough to survive, pay bills and set aside money to repay loans.
This realization is dawning on more and more young Indians every day. The youth now simply do not want to spend the rest of their lives slogging away. They want early retirement and no more waiting for paychecks that get gutted by EMIs and expenses. Smart as they are with their money, they know better than to let it lie in fixed deposits.
That’s where we come in. We make it possible for them to do all of this and more. CoinSwitch aims to fuel and fulfill their dream of financial independence, of becoming wealthy and not just temporarily rich.
CoinSwitch has 15 million users who count on it to make crypto assets a viable option for them. As a customer-first company, we’re always coming up with ways to help you invest better in crypto. And that’s precisely why we’re introducing the Systematic Investment Plan (SIP).
What is a SIP?
The SIP or Systematic Investment Plan is an investment tool that lets you invest a set amount of money every month over a long period. It is a simple way to create wealth and mitigate the risk associated with crypto assets by giving you a better entry price and distributing your purchases of the coin/token.
How Do SIPs Work?
SIPs will enable you to buy a fixed bunch of units of a cryptocurrency on a given date each month. Instead of investing a large amount at once, you can put in small amounts every month over a long period.
With it, you get to decide what your savings plan looks like. And that’s a huge plus.
Perhaps the best thing about SIPs, though, is that it’s consistent, disciplined, and dependable, so you don’t need to time the markets! As crypto assets are inherently volatile, investing through a SIP is a better option than trying to time the markets, especially if you are a new investor. This way, you stay invested through the highs and lows of the market and make the best of unpredictable market movements.
Long-term investors, too, would benefit from looking at investing in SIPs because it helps avoid market volatility and impulsive decisions.
Advantages of SIP
SIP is a great investment strategy for beginners and small investors. Simply put, it goes easy on your cash flow, yields steady returns, and lets you sell units when you need cash.
Some major advantages of SIP are:
- It’s light on your pocket, as you invest in small amounts each month.
- It gives you a steady, disciplined approach to creating wealth.
- And the best bit is that there’s no need to time the market.
There it is. If you’ve been wanting to invest in crypto assets but don’t know how or how much to start with, or you’re worried about the volatility of the crypto market, the Systematic Investment Plan is your best friend.
What’s more? Only 10,000 users get exclusive early access to Crypto SIPs, have feedback sessions with our team, and be able to unlock exclusive rewards. Waiting ain’t all that bad. Click here to line up for our Systematic Investment Plan.
How to Start a SIP on CoinSwitch
Like everything else on the CoinSwitch app, starting a SIP is also easy peasy! A few taps and you’re all set. Here’s how to do it:
- Open the CoinSwitch app and go to the “Market” section.
- Tap the coin that you would like to park your money on and watch it grow.
- This will take you to the “Asset” page of the coin. Scroll down and tap on “Start <coin> SIP.”
- On the coin “Buy” page, select the “Monthly SIP” option.
- Enter the amount you would like to invest every month, and select the date of the month when you would like the investment to be made for you in the “SIP Repeats On” section.
- Tap “Preview SIP” and double-check the details.
There it is. If you’ve been wanting to invest in cryptocurrency but don’t know how much to start with, or you’re worried about the volatility of the crypto market, SIPs are your best bet.
SIPs let you start small while you get to know the crypto world and reap steady returns. Honestly, giant leaps are so overrated that we often forget how helpful baby steps are!
Disclaimer : Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. The information provided in this post is not to be considered as investment/financial advice from CoinSwitch. Any action taken upon the information shall be at user's own risk.
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