In its bid to recognize and celebrate Olympic champions, Bitbns, the country’s leading cryptocurrency exchange, has announced Bitcoin SIP awards for Indian winners at the Tokyo 2020 Olympic Games. The company aims to honor the Indian Olympic medalists wherein winners would be entitled to open cryptocurrency SIPs’ worth lakhs on the exchange.
The SIP will start onwards from 2lakh for gold, 1 lakh for silver, and 50k for bronze medalists. The company aims to begin with honoring Mirabai Chanu for bagging a silver medal in weightlifting in the 49 kg category, PV Sindhu, and Lovlina Borgohain for winning the bronze medal in badminton and women’s welterweight (69 kg) , respectively. In addition, the company will also be awarding the Indian Men’s hockey individual team members with 50K SIP each for bringing home bronze, putting an end to the 41-year wait for an Olympic medal in hockey. The last time India had won a gold medal in hockey for the 1980 Moscow Games.
On the occasion, Gauarv Dahake, CEO, Bitbns said, “As India celebrates its 100-year journey with the biggest global sporting event, Bitbns is proud to associate and play its bit in honoring the Indian Olympic champions. Indian athletes winning medals at the Olympics are not just fulling their dreams but the dreams of billions of Indians while making the country proud on a global platform. Bitbns team would like to convey its heartiest congratulations to Mirabai Chanu, P.V. Sindhu, Lovlina Borgohain, and the Men’s Hockey team for bringing home the medals and making India proud on this world platform.”
“Bitcoins and Ethereum have been the best-performing assets in the last decade, and have given exceptional returns and we aim to get our winners indulge in this rewarding journey. Our Olympians are the personification of sheer grit, valour and commitment and the sense of pride they gift us is immeasurable. This is a small gesture from us to gratify them in our own way.” he added further.
Bitbns will felicitate the Indian medalists by crediting each with cypto SIPs’ worth lakhs. The amount will be auto-credited to their account, which the athletes can later access by completing the KYC. The SIP will be structured for a 3-5 year period thereby offering them a seamless exposure to the digital asset whilst enabling them earn a fixed source of income in the long term through the platform.
Bitbns offers Bitdroplet SPP (Systematic Purchase Plan), a simple and secure platform, which allows one to invest in cryptocurrencies via an SIP. One can invest in the top cryptocurrencies of Bitcoin and Ethereum in regular installments such as daily, weekly or monthly. The platform thus encourages to invest in small volumes periodically to reduce risks while timing the market well.
To avail the SIP platform, one must set the amount one wants to invest in Bitcoin or Ethereum periodically (every day, week or month). One can deposit INR in the wallet using UPI, after which the money will be automatically invested into the cryptocurrency as per the desired periodicity. Once the wallet is close to empty, one can deposit more money to continue investing. To cash in, one can simply sell the cryptocurrency and redeem from the wallet to one’s bank account seamlessly through the platform.
With the opportunity of investing in bitcoins for as little as Rs 100 a day, Bitdroplet has been making it easier for people to gain a fair understanding and exposure of the crypto market while arbitraging the risk. The SIP format structures the investments in such a manner that the risks are fairly spread out, thereby tackling volatility efficiently. The platform thus offers masses an excellent opportunity to benefit from exposure to one of the best-performing assets through a methodical long-term investment structure, similar to a conventional Systematic Investment Plan (SIP).