Bitbns to offer Bitcoin SIP for Indian winners at Tokyo 2020 Olympics

Follow us on Google News:
 Bitbns to offer Bitcoin SIP for Indian winners at Tokyo 2020 Olympics
Image source: Andreanicolini, Shutterstock

Summary

  • India’s cryptocurrency exchange, Bitbns announced to award Indian medallists at the Tokyo 2020 Olympic games with “Bitcoin SIP.”
  • The amount will be auto-credited for years to their account at regular intervals, which these athletes can access later after completing their KYC.
  • The SIP will be structured for a 3-5 year period, thereby offering them decent exposure to the crypto asset.

To celebrate the victory of Indian Olympic champions, Bitbns, one of the leading cryptocurrency exchanges in India, has decided to award winners at the Tokyo 2020 Olympic games with “Bitcoin SIP.” Olympic medallists in this season of Olympic games will be entitled to cryptocurrency SIP worth lakhs on Bitbns. A cryptocurrency SIP works the same way as a Mutual fund SIP, wherein a fixed amount is being invested in a mutual fund at regular intervals, with the only difference being in the asset that is being accumulated over time, which is cryptocurrency in this case.

Image Source: © Aoutphoto | Megapixl.com

The company said in an official statement that it would start SIP from 2 lakhs for the gold medallists, while 1 lakh will be the SIP amount for Silver medallists. The bronze medallists would be entitled to a SIP plan of 50 thousand.

The crypto exchange will start with honoring Mirabai Chanu, who bagged a silver medal in weightlifting in the 49 kg category, and PV Sindhu who secured the third spot with a bronze medal in badminton.

Read More: Why Nigerian Government Is So Concerned About Bitcoin

Gaurav Dahake, CEO, Bitbns said they are proud to associate and play its part in honoring the Indian Olympic champions as India celebrates its 100-year journey with the biggest global sporting event. With these players rewarding more than 130 billion people with their performance, Bitbns has its own unique way to reward them. As the CEO said, it is a “small gesture” from Bitbns to gratify them in their own way.

Bitbns will felicitate the Indian Olympic medalists by crediting their accounts with lakhs worth of cryptocurrencies. The amount will be auto-credited for years to their account at regular intervals, which these athletes can access later after completing their KYC (Know Your Customer) process. The SIP will be structured for a 3-5 year period, thereby offering them a decent exposure to the crypto asset while at the same time, enabling them to earn a fixed source of income in the long-term through Bitbns.

Bitbns already has an offering called “Bitdroplet SPP” (Systematic Purchase Plan), a simple, seamless and secure platform, that allows an investor to regularly invest in cryptocurrencies via a SIP. An investor can invest in some of the top cryptocurrencies, such as Bitcoin and Ethereum, in regular installments with intervals as low as daily. The platform thus encourages investors to take exposure in the crypto assets in small volumes periodically to reduce risks of volatility and the need for timing the market well.

Read More: 7 Cryptocurrencies to look at in 2021

Disclaimer

The content, including but not limited to any articles, news, quotes, information, data, text, reports, ratings, opinions, images, photos, graphics, graphs, charts, animations and video (Content) is a service of Kalkine Media Pty Ltd (Kalkine Media, we or us), ACN 629 651 672 and is available for personal and non-commercial use only. The principal purpose of the Content is to educate and inform. The Content does not contain or imply any recommendation or opinion intended to influence your financial decisions and must not be relied upon by you as such. Some of the Content on this website may be sponsored/non-sponsored, as applicable, but is NOT a solicitation or recommendation to buy, sell or hold the stocks of the company(s) or engage in any investment activity under discussion. Kalkine Media is neither licensed nor qualified to provide investment advice through this platform. Users should make their own enquiries about any investments and Kalkine Media strongly suggests the users to seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice), as necessary. Kalkine Media hereby disclaims any and all the liabilities to any user for any direct, indirect, implied, punitive, special, incidental or other consequential damages arising from any use of the Content on this website, which is provided without warranties. The views expressed in the Content by the guests, if any, are their own and do not necessarily represent the views or opinions of Kalkine Media. Some of the images/music that may be used on this website are copyright to their respective owner(s). Kalkine Media does not claim ownership of any of the pictures displayed/music used on this website unless stated otherwise. The images/music that may be used on this website are taken from various sources on the internet, including paid subscriptions or are believed to be in public domain. We have used reasonable efforts to accredit the source wherever it was indicated as or found to be necessary.

We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it. OK