CoinSwitch Kuber, has taken a step to help investors stay alert against the market volatility and take inform decisions. The CoinSwitch has roll out a new feature call as Recurring Buy Plan (RBP) to enable long-term investors to invest systematically rather than having them make impulsive trading decisions depending on market fluctuations.
The CoinSwitch that claims to have 15 million register users made the official announcement on 7th February 2022.
These plan will require users to allocate a fix monthly amount to buy some units of a particular asset at a given price for 12 months.
As the time period for this monthly deposit extends, users will have better chances of bagging bigger average prices.
Interested customers can register to get early access to the new feature.
Android users will get the feature before those on iOS, the company said.
The development comes just days after India announce a tax of 30% on crypto-based incomes.
At Union Budget session on 2nd February 2022, Finance Minister Nirmala Sitharaman Said :
“I propose to provide that any income from transfer of any virtual digital asset shall be taxed at the rate of 30 percent. No deduction in respect of any expenditure or allowance shall be allowed while computing such income, except cost of acquisition.”
Industry insiders welcome the decision with the majority saying that this taxation decision has indirectly legitimise the crypto sector in India.
Disclaimer :
Cryptocurrency is an unregulated digital currency, not a legal tender and subject to market risks. The information provided in the article is not intended to be and does not constitute financial advice, trading advice or any other advice or recommendation of any sort offered or endorsed by 2YODOINDIA. 2YODOINDIA shall not be responsible for any loss arising from any investment based on any perceived recommendation, forecast or any other information contained in the article.
