Crypto Mining : Which is the best platform to invest in Cryptocurrency in India?

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Cryptocurrencies or digital tokens have now sprung up in huge number (4000 cryptocurrencies exists as per Investopedia as in January 2021- though for many there is no trading volume) and with the potential to explode enormously as has been seen the case of late, they have been drawing interest from all across. If you too as an Indian investor want to tap this market for good returns, nonetheless want to play safe, you can start SIPs in them or another way may be to bag in low-valued cryptos such as Dogecoin. 3 Safe Platforms Where SIP In Cryptocurrency In India Can Be Started.

Crypto Mining

Though the fate of this crypto segment is still unknown for India without any entity administering and regulating it, only Thursday (May 6, 2021), finance secretary SC Garg suggested not prohibiting but regulating cryptocurrencies.

So, here we go ahead with the topic:

 
 

1. Bitdroplet powered by Bitbns

In order to avoid any kind of impulsive investment decision or to go remain guarded on your investment, you can opt for the Systematic Purchase Plan (SPP) in cryptocurrencies (currently only offered for Bitcoins) provided on the safe platform Bitdroplet. The service is similar to 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. Further the investment can be made every week or every month also.

How to deposit money for bitdroplet transaction?

For depositing money for bitdroplet or starting a SIP in bitcoin you need to go to ‘Wallet’ and click ‘Deposit Money’. Essentially, Bitdroplet wallet can store your investment only in the form of USDT. Minimum transfer from Bitbns to Bitdroplet Wallet should be 0.01 USDT. Essentially if you do not have USDT funds you need to first buy them from Bitbns and then transfer it to your Bitdroplet wallet. For FAQs on Bidroplet, you can click on this link .

The platform suggests that 5-year investment in bitcoin has provided 1251% absolute return. A SIP started for Rs. 500 per month for a 5-year term will turn to be Rs. 1,18,310 in value.

 

2. Unocoin app:

For the SIP facility that the platform refers to as Systematic Buying plan, one can enroll for the investment via the Unocoin app. Remember here the investment could be started for as less as Rs. 50

How to start a SIP for a cryptocurrency over Unocoin app?

• First as a first time user you would need to sign up

• Now after successful register you will be asked to set a 6-digit passcode and later some 6 questions would need to be answered by you that need to be remembered also for retrieval of data if the situation arises so.

• Then the account needs to be verified. Here in KYC inputs including bank details need to be given.

3. Zebpay: 

When it comes to choosing a cryptocurrency exchange, there are many factors to be considered. However, one of the important aspects for the customers is the charges levied by the exchanges. As per the Zebpay website, Zebpay charges 0.15 per cent as maker fee and 0.25 per cent as taker fee. The withdrawal charge in Zebpay amount to a flat charge of Rs. 7 per withdrawal. On the other hand, WazirX charges a flat 0.2 per cent maker fee and 0.2 per cent taker fee. One thing WazirX has going for it is its large number of cryptocurrencies available. As for the withdrawal of funds back into your account, WazirX charges Rs. 5 to 10, depending on the method of withdrawal used.