Bitdroplet - A Systematic Investment Plan (SIP) to Invest in Bitcoin
We all want to have an investment in the instrument where we can have more returns with the amount of risk that we can afford. It is as important as earning money because this helps us to save more and on basis of which we plan various things in life and it could be buying home kids' education or many other things that we are planning to do in future. Some people believe and follow traditional investment which is like saving money on fixed deposit gold government bonds and many other instruments which are highly saved but they also offer an unlimited amount of returns on investment.
Over time the mindset of investing money had changed and now the new generation is looking for more returns because they think that they can afford more is and that opens a door of more returns as well for. I think That a recurring and systematic investment is always better than doing a one-time investment because this way the chances for losses are pretty low as compared to the other one.
A few days back I got to know about SIP in bitcoin and I am sure that many of you are aware that how SIP (systematic Investment Plan) works. This product is known as a Bitdroplet and its offered by Indian exchange BITBNS. I have gone through it and sharing my thought here in this post.
What is bitdroplet
Bitdroplet allows you to invest in bitcoin using a dollar-cost averaging strategy. DCA is bitcoin help you to reduce your risk due to the volatile market in the long run.
Here is the video that explains how it works-
How it works-
Like a normal SIP instrument, it works the same way and investors need to select the frequency of daily, weekly or monthly for a fixed amount. This is the first product of investment in India.
I am a new-age investor and I believe that a cryptocurrency is certainly a great form of investment however we should invest carefully because this is highly volatile and its value can get high fluctuation in the price. But systematic investment makes it a little risky because we will be buying the units on various price range and on and address it will bring a significant amount in total which is very good for the investor.
Big BNS exchange has issued one of the fantastic product and I think with the banking support more people will be entering this segment to invest their money on systematic plans and it will be helpful for the overall crypto community to grow further.
I hope many more companies or exchanges will come forward with such amazing products and this will open more options for the users and investors. I like this product very much and I'm also going to start it soon because I know that BitCoin is decentralized and for a long-term investing money on it it's certainly a great idea. I think there will be many more users who cannot spend a big amount to do one-time investment however putting a fixed amount on fixed intervals will be possible for them. There are not bigger amount limits when it comes to investing in this instrument because for a daily plan minimum amount is one US dollar and weekly and monthly it is 5 USD which is not too high.
Bit BNS is India's leading cryptocurrency exchange and they are so much innovation in this segment as they have also introduced their BNS token recently. Last year they also introduced their debit card however it could not start because of banking restrictions but I think they might be working on it to make it a reality soon since bank support is restored last month.
Official website- https://bitdroplet.com/ Bitbns Exchange Website- https://bitbns.com/
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