Crypto SIP: The latest for the investment enthusiasts

Crypto SIP (systematic investment plan) is a thing now! Even with some prevailing uncertainties around virtual digital assets, a few crypto exchanges in India have launched the SIP mode of investment for cryptocurrencies.

Some of the platforms offering SIPs in cryptos even call it a 'recurring buy plan'. It should be noted that the SIPs in mutual funds are regulated by the Securities and Exchange Board of India (SEBI).

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The latest crypto investing platform to launch the SIP feature is Mudrex.

Edul Patel, CEO and Co-founder, Mudrex said, “We have for a long time believed in the power of long-term investing and it comes as no surprise that SIPs were 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.”

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Another crypto platforms like Giottus and CoinSwitch also introduced a SIP feature for their investors.

The government in Budget 2022 proposed a 30% tax on crypto income. On Monday, it clarified that losses incurred in a particular digital asset can't be set off against income from another version of a crypto holding. At the same time, the mining of crypto assets won't be treated as a cost of acquisition.

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Disclaimer: Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions.