CoinSwitch Adds 'Recurring Buy Paln' for Crypto Assests: Everything You Need to Know
The Crypto exchange platform CoinSwitch added a new feature called the Recurring Buy Plan in its platform for its users.
The platform CoinSwitch is taking new registrations for its new Recurring buying Plan
The platform also claimed that the platform has 15 million users on its platform.
Highlights
- CoinSwitch has begun rolling out the new feature.
- It has been said that the feature will help the users to extract bigger profits.
- It also has revealed that Android users will get one feature first.
Read More: Ahead of Budget Session of Parliament And Crypto Bill Timeline in India
Indian Crypto exchange leading platform has added a new feature and option that has the option for the users to watch the market volatility hence they can make a better decision. The feature is named Recurring Buy Plan (RBP), it enables the users to invest symmetrically rather than having them impulsive trading decisions depending on market infatuation. The company has made an announcement officially on 7th February.
The feature enables the users to allocate a fixed amount to buy some units of a particular asset at a given price for 12 months. If the period for this month extends the users will have a better chance of bagging bigger average prices.
The CEO of the platform has mentioned the feature as “Crypto has a higher degree of volatility in comparison to traditional assets. Recurring buy plan allows users to experience the power of compounding by systematically buying cryptos and making regular, distributed purchases,”
He also added
“It will also empower users with a lower risk profile to explore this new asset class.”
The company has revealed about the launch of the feature will be available for the users who will register to get early access to the news feature. Android users will get the feature before the IOS users.
The development of the feature comes just after the government has announced the 30 percent over the cryptocurrencies.
During the ongoing session of the parliament, Nirmala Sitharaman said “I proposed to provide that any income from transfer of nay virtual digital asset shall be taxed at the rate of 30 percent. No deduction in respect of any expenditure or allowance shall be allowed while computing such income, except the cost of acquisition.”
The insiders of the cryptocurrency have welcomed the decision and said the step taken by the government for taxing the cryptocurrency to about 30 percent means it has legalized the crypto currently.
