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Mutual Funds like SIP in Crypto
March 17, 2022
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 to mutual funds. In a statement, Mudrex said that SIPs have been a group #1 in the value market for quite a long time. Investors have been using SIPs to put and steadily grow their wealth in equity markets.
Using SIPs on Coin Sets, crypto investors can spread out their capital venture as opposed to making a lump sum purchase buy, thereby reducing their risk on their crypto investment, the assertion said.
Compared to traditional markets, cryptocurrency markets will quite often be more volatile.
Mudrex said that with this new feature, investors can begin a SIP with as low as $10 and can set the SIP frequency to daily, weekly or monthly in a completely automated way.
The Coin Sets SIPs can be managed – paused, modified 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 dollar cost averaging.
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