CoinSwitch launches Recurring Buy Plan for Crypto purchases
Crypto platform CoinSwitch has launched Recurring Buy Plan, a simple and planned way to purchase Crypto assets in India. With this launch, CoinSwitch aims to enable users to beat market volatility and avoid making impulsive buying or selling decisions.
Ashish Singhal, Founder and CEO, CoinSwitch, said, “At CoinSwitch, we want to help users across their Crypto journey. Crypto is an emerging but attractive asset class and has a higher degree of volatility in comparison to traditional assets. The CoinSwitch Recurring Buy Plan will allow users to purchase Crypto in a planned manner and enable the user to avoid the impulse to time the market and make emotional trading decisions. It will also empower users to explore this new asset class in a more structured and disciplined manner.”
Through Recurring Buy Plan (RBP), users can set aside a fixed amount of money to purchase a Crypto asset every month over a long period of time, allowing them to focus on a long-term strategy rather than timing the market.
On CoinSwitch, users can deposit only Indian Rupees from their verified bank accounts. The company permits only resident Indian bank accounts on the platform and conducts screening (for Politically Exposed Person status, Sanctioned list, and negative news) and other KYC checks.
Users can create an RBP in 3 simple steps:
1. Click ‘Recurring Buy’ on the buy page, and choose the preferred amount
2. Select the preferred repeat date
3. Confirm the order.
Users will also have to ensure there is enough balance in their CoinSwitch Account for future/repeat orders.
The upper limit of buy orders on the platform is ₹2,50,000. Users can have a single or multiple RBP for a single Crypto.