Mudrex launches SIP facility for its MF-like crypto investment scheme Coin Sets

SIPs have been a crowd favorite in the stock market for years. Investors have been using SIPs to steadily invest and increase their wealth in the stock markets. According to the company, by using SIP on pools of coins, investors can spread their capital investment instead of making a lump sum purchase, thus reducing the risk of their cryptocurrency investment.

Cryptocurrency markets tend to be more volatile compared to traditional financial markets. With this new feature, investors can start a SIP with as little as $10 and can set the SIP frequency to daily, weekly or monthly in a fully automated way. SIPs can be managed; paused, modified and stopped, at any time. As well as being a lower risk alternative to cryptocurrency trading, coin sets are available for investments free of charge and with instant investments and withdrawals.

Among other benefits, coin pool SIPs allow investors to automate investments regardless of market conditions, a practice popularly known as DCA (dollar cost averaging).

Commenting on the launch, Edul Patel, CEO and Co-Founder of Mudrex, said: “Coin pools have been a favorite among Mudrex investors to passively and effectively increase their wealth. The product has already scaled to over 50,000 investors in India in less than 6 months since its launch. We have long believed in the power of long-term investment and it is no surprise that SIPs were a highly requested feature at Mudrex. With the launch of the feature, we hope that users will be able to maximize long-term wealth creation in a new and fast-growing asset class like cryptocurrencies."

Mudrex was launched in 2018 by Edul Patel (CEO), Alankar Saxena (CTO), Rohit Goyal (VP, DeFi), Prince Arora (VP, Engineering).