Singapore-headquartered ZebPay, a crypto exchange platform used substantially in India for trading Bitcoin on Wednesday (July 14) announced that is launching ZEBB, a Systematic Investment Plan (SIP) options in two of the highest traded cryptocurrencies Bitcoin ($1 Tn cap) and Ether($43 Bn cap).
ZEBB will allow users to begin their Bitcoin and Ether SIPs with investments starting from INR 100 with three taps. The company claimed that the new product, apart from traders and crypto enthusiasts, will let others take a plunge in crypto trading as the entry barrier is set low. The newly launched platform will allow users to automate their SIP investing on a regularly recurring schedule like weekly. The company mentioned that users can buy and sell cryptocurrencies without paying fees to ZebPay.
Despite Bitcoin and Ether being the most valued cryptocurrencies platform and popular among crypto enthusiasts, severe fluctuations in the value have developed hesitancy among traders.
The company claimed that rupee cost averaging is the best way to get an average price on these assets.
The company claimed that ZEBB ensures customer data protection through cold storage of cryptos, third-party security audits, and bug bounty programs.
Commenting on the latest developments, Avinash Shekhar, cocheif executive officer of ZebPay, said, “At ZebPay, we have always encouraged investors to dollar or rupee cost average. With ZEBB, we are making it easy and effortless for investors to do so. Moreover, Bitcoin and Ethereum are revolutionary technologies with tremendous growth potential, and SIP is known as one of the most efficient models of wealth creation helping users to invest in the best possible average buy price. If, for instance, an investor had bought Rs. 100 Bitcoin every week in the past year, they would have gained around 72% on their total investment of Rs. 5200.”
Founded in 2014 and now headed by Rahul Pagidipati and Avinash Shekhar, ZebPay has been conducting business in India since its inception. The platform currently boasts of having over 4 Mn users and over $1 Bn in monthly transactions volumes. The platform operates in Australia, Singapore, and 162 other countries.
Indian authorities have a bittersweet relationship with cryptocurrency more due to the volatile nature of the market. Though the Supreme Court in March 2020 had overruled the decision of RBI’s circular asking banks to distance themselves from crypto exchange platforms, last month several banks cut ties with these platforms. Despite this, it is expected that around 1.5 Cr Indians have invested INR 15,000 Cr in cryptocurrencies.