Mudrex announces SIPs for Coin Sets for easy crypto investment

Mudrex, a Bengaluru and San Francisco-based Y Combinator-backed crypto investing platform, today announced the launch of the SIP feature which will allow users to invest in Coin Sets, which are often seen as the crypto equivalent of mutual funds.

SIPs have been a crowd favorite in the equity market for years. Investors have been using SIPs to invest and steadily grow their wealth in equities markets. Using SIPs on Coin Sets, investors can spread out their capital investment instead of making a lump sum purchase, thereby reducing their risk on their crypto investment.

Cryptocurrency markets tend to be more volatile when compared to traditional financial markets. With this new feature, investors can start a SIP with as low as $10 and can set the SIP frequency to daily, weekly or monthly in a completely automated way. SIPs can be managed — paused, modified, and stopped, at any time. In addition to being a lower-risk alternative to trading cryptocurrencies, Coin Sets are available for investments without any fee, and with instant investments and withdrawals.

Among other benefits, Coin Set SIPs allow investors to automate investments regardless of market conditions — a practice is popularly known as DCA (Dollar-Cost averaging).

Commenting on the launch, Edul Patel, CEO & Co-Founder of Mudrex, said, “Coin Sets have been a favorite amongst investors on Mudrex to grow their wealth passively and effectively. The product has already scaled to over 50,000 Investors in India under 6 months of launch. We have for a long time believed in the power of long-term investing and it comes as no surprise that SIPs was a much-requested feature on Mudrex. With the release of the feature, we hope that users will be able to maximise long term wealth creation in a new and rapidly growing asset class like crypto.”

Published on: Wednesday, March 16, 2022, 11:42 AM IST