Crypto Conversion Simplified : BICO to INR

Once you’ve set up your account, here are some steps to follow if you are looking to buy Biconomy (BICO) via CoinSwitch.

• Log in to the CoinSwitch app or portal using biometric authentication or your personalized pin code.
• Locate the search button on the top right-hand corner of the home screen and type in Biconomy (BICO).
• After selecting the coin, click the Buy button at the bottom left of your screen.
• Choose the type of order you want to go for from the options available: Instant, Limit, or Systematic Investment Plan.
• Enter the Indian National Rupee (INR) amount you want to invest in Biconomy (BICO).
• Preview your order and click Buy.

So long as you have enough funds in your CoinSwitch wallet, the transaction will go through. Soon after, you will receive an order confirmation. Depending on the order type, your investment will be recorded in the relevant section of your portfolio on the app. To find the Portfolio section, look at the bottom ribbon.

Before we proceed, here is a quick word on the different types of orders on CoinSwitch and how to place them.

• Instant: Instant orders get fulfilled immediately, provided there’s enough liquidity. When you select an instant order, enter the INR amount you want to invest. The conversion rate in relation to the crypto you have chosen is shown based on the market price at that moment. You can find your investment proof in the Portfolio section on the app after a short while.
• Limit: The limit order option is useful when buying a crypto at a specific price. With these orders, you don’t want to wait for the price to hit your target. Once placed, limit orders take care of themselves and get executed in the background on their own. Users can also choose whether to receive a notification when this happens. All investments show up in the app’s Portfolio section after a short while.
• Systematic Investment Plan (SIP): SIPs are great tools for cost averaging your investments and HODLing. In other words, they are a good option when you want to make a long-term investment. While buying an SIP, you simply select the amount of money you want to invest every month and click confirm. Then, all you need to do is ensure that you have enough funds in your account to fulfill these orders each month. Once you’ve given the instruction, the app will periodically deduct the money from your wallet.