Mudrex, a Bengaluru and San Francisco-based Y Combinator-backed crypto investing platform, has launched SIP feature, allowing users to invest in Coin Sets. 

Coin Sets by Mudrex are seen as the crypto equivalent of mutual funds. In a statement, Mudrex said that SIPs have been a crowd favourite in the equity market for years. Investors have been using SIPs to invest and steadily grow their wealth in equity markets.

Using SIPs on Coin Sets, crypto investors can spread out their capital investment instead of making a lump sum purchase, thereby reducing their risk on their crypto investment, the statement said. 

Compared to traditional markets, cryptocurrency markets tend to be more volatile. 

Mudrex said that With this new feature, investors can start an SIP with as low as $10 and can set the SIP frequency to daily, weekly or monthly in a completely automated way. 

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The Coin Sets SIPs can be managed — paused, modified and stopped, at any time. Coin Sets are available for investments without any fee, and with instant investments and withdrawals.

Mudrex further said that Coin Set SIPs will 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 Sets have been a favourite amongst investors on Mudrex to grow their wealth passively and effectively. The product has already scaled to over 50,000 Investors in India under 6 months of launch . We have for a long time believed in the power of long term investing and it comes as no surprise that SIPs were a much-requested feature on Mudrex. With the release of the feature, we hope that users will be able to maximise long term wealth creation in a new and rapidly growing asset class like crypto.”

(ALERT: Crypto tokens are high-risk, volatile and unregulated crypto assets in India. Investing in them could lead to losses. Please do your own research and consult your financial advisor before making any investment decision in crypto).