CoinSwitch Kuber, the Indian crypto exchange platform, has taken a step to help investors stay alert to market volatility and make informed decisions. The platform has implemented a new feature called Recurring Purchase Plan (RBP) to allow long-term investors to invest systematically instead of letting them make impulsive trading decisions. depending on market fluctuations. The company that claims to have 15 million registered users made the official announcement on February 7.
The plan will require the user to allocate a fixed amount monthly to purchase a number of units of a particular asset at a certain price for 12 months. As the period for this monthly deposit lengthens, users have a better chance of earning a larger average price.
“Cryptocurrency have a higher level unstable compared to traditional assets. Ashish Singhal, Founder and CEO, CoinSwitch told Gadgets 360. “It will also empower users with a lower risk profile to explore this new asset class.”
Interested customers can register to get early use of the new feature. Android users will get this feature before those on iOSthe company said.
The development comes just days after India announced it Tax 30% on crypto-based earnings.
At the Union Budget meeting on 2 February, the Minister of Finance Nirmala Sitharaman said, “I propose to stipulate that any income from the transfer of any virtual digital asset be taxed at 30 percent. No expenses or allowances may be deducted in the calculation of such income, with the exception of acquisition costs. “
Industry insiders welcome decided with a majority that this tax decision indirectly legitimizes the crypto sector in India.
Cryptocurrency is an unregulated digital currency that is not a legal tender and is subject to market risk. The information provided in the article is not intended and does not constitute financial advice, trading advice or any other advice or recommendation of any kind provided or endorsed by NDTV. NDTV will not be liable for any loss arising from any investment based on any perceived recommendations, forecasts or any other information contained in the article.
