July 2, 2022
  • July 2, 2022

3 Safe Platforms Where SIP In Cryptocurrency In India Can Be Started

By on May 8, 2021 0

1. Bitdroplet powered by Bitbns

In order to avoid any type of impulsive investment decision or to remain cautious about your investment, you can opt for the Systematic Purchase Plan (SPP) in cryptocurrencies (currently offered only for Bitcoins) provided on the website. Bitdroplet secure platform. The service is similar to the SIP offering in mutual funds or stocks. The convenient platform is powered and developed by Bitbns.

Users can invest in Bitcoin or start a SIP for as little as Rs. 100 on a daily basis. In addition, the investment can be made weekly or monthly as well.

How do I deposit money for a bitdroplet transaction?

To deposit money for bitdroplet or start a bitcoin SIP, you need to go to “ Wallet ” and click on “ Deposit money ”. Essentially, the Bitdroplet wallet can only store your investment in the form of USDT. The minimum transfer from Bitbns to Bitdroplet Wallet must be 0.01 USDT. Essentially, if you don’t have USDT funds, you need to buy them from Bitbns first and then transfer them to your Bitdroplet wallet. For FQA on Bidroplet, you can click on this link.

The platform suggests that a 5-year investment in Bitcoin provided an absolute return of 1251%. A SIP started for Rs. 500 per month for a 5 year term will become Rs. 1,18,310 in value.

2. Unocoin application:

2. Unocoin application:

For the SIP installation that the platform calls the systematic purchase plan, one can register for the investment through the Unocoin application. Remember here that the investment could be started for as little as Rs. 50

How to start a SIP for a cryptocurrency via the Unocoin app?

• As a new user, you must first register

• Now after successful registration you will be asked to set 6 digit password and later you will need to answer 6 questions which need to be remembered also for data recovery if the situation arises.

• Then the account should be verified. Here in KYC, entries including bank details must be provided.

• Once the required documents have been downloaded, you must click on “SBP”. Choose cryptocurrency for SBP – Bitcoin or Ether. The frequency of investments and the amount should also be mentioned. Click SBP Enable later to start with SIP.

It is an 8-year-old company and India’s first entry into the Bengaluru-based Bitcoin space. The company boasts of having won 45 top investors from 5 countries in less than 3 years of operation. SIP in Bitcoin was initially rolled out by Unocoin in 2015.

3. Zebpay:

3. Zebpay:

This is another platform offering SIP bitcoin investment. According to the return calculator provided on the Zebpay website, considering your investment, say of Rs. 1000 per week and for 5 years you will be able to reap Rs. 3,37,571 from your total investment of Rs. 2,60,000 taking an annual rate of return of 10%.

“At ZebPay, we encourage average dollar costs – invest fixed amounts at regular intervals.” It can help you accumulate more units compared to the person investing at one time due to the price differential at various buying points.

As of now, the most used and oldest exchange in the country provides SIP only in bitcoin and SIP for as little as Rs. 100 in bitcoin can be started every week, every month.

Start SIP in Bitcoin at Zebpay

1. Download the ZebPay app

2. Fill in your KYC: Here you need to fill in the KYC, for this 2 photos must be uploaded with your bank details and the rupees to start the SIP must be deposited.

Taxation on Bitcoin earnings

Taxation on Bitcoin earnings

Income from each of the sources is part of the Income Tax Act 1961, so a clarification was given on the taxation of bitcoin earnings, in which Finance Minister Anurag Thakur stated that “what regardless of the nature of the business, the total income for taxation must include all income from any source … gains resulting from the transfer of cryptocurrencies / assets are taxable as income “

Likewise, the service related to the cryptocurrency exchange, since it does not fall under the exempt category, will also attract the involvement of the GST.

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