CoinSwitch*, one of the most prominent crypto exchanges in India, will now allow its investors to buy crypto assets in a systematic manner, according to a press release from the company. The recurring buy plan (RBP) is derived from the same logic as SIPs (Systematic Investment Plan) in which investors invest a fixed amount of money at predefined intervals in mutual funds. The exchange, which turned unicorn last year, said that it is looking to address the volatility concerns and impulsive trades of investors with the plan. The plan is not available to everyone as of now and users will need to sign up to get on a waitlist for early access, the company said. "Crypto is an emerging asset class and has a higher degree of volatility in comparison to traditional assets. The recurring buy plan allows users to experience the power of compounding by systematically buying cryptos and making regular, distributed purchases," said Ashish Singhal, Founder and CEO, CoinSwitch. The exchange has begun registrations for early access and revealed that users will be able to make systematic investments in more than 80 coins. The plan is available to Android users for now but the company said that it will be offering the same on iOS soon. This is the first time that a major Indian crypto exchange is offering a plan modelled on a SIP-style investment. It will be interesting to see the tax implications of such a scheme after the Indian government brought in a taxation structure…
