What is a Systematic Investment Plan?
- You can buy crypto for a fixed amount every month.
- You will continue to buy crypto through the highs and lows of the market.
- SIP helps you to compound your gains through Rupee Cost Averaging (investing a fixed amount at regular intervals, irrespective of whether the markets are going high or low).
- SIP is considered to be a good long-term investment strategy.
How do I start a Systematic Investment Plan on CoinSwitch?
To create a SIP, watch the video or follow the simple steps below.
- Open the coin page, click on "BUY" and enter the amount
- Select the order type as "SIP" and set the SIP repeat date (the date on which you want your SIP order to get executed every month)
- Click on "SIP", check the details, and click on "BUY SIP"
Which coins can I create SIP for?
You can create a Systematic Investment Plan (SIP) for all cryptos listed on CoinSwitch.
Is there a minimum and maximum limit for SIP?
- The minimum amount is 100 INR
- The maximum amount is 2,50,000 INR
Can the SIP instalment be deducted directly from my bank account?
- No, the SIP instalment cannot be deducted directly from your bank account.
- The instalment will be deducted from your CoinSwitch wallet.
- Ensure your wallet has sufficient funds.
Do I have the option to modify my SIP after I create it?
- No, you cannot modify a SIP once it is created.
- You will have to cancel the SIP and create a new SIP.
How can I cancel my SIP?
Follow the simple steps below to cancel your SIP.
- Open the "Portfolio" page, and tap on "Orders".
- Select the SIP order you want to cancel.
- Click on "View Details".
- Select "Cancel".
- Click on "Yes, Cancel".
How can I pause my SIP?
Do you want to pause your SIP? If yes, follow the simple steps listed below.
- Go to the "Portfolio" page and click on "Orders".
- Select the active SIP order that you want to pause.
- Click on "View Details".
- Select "Pause SIP".
- Click on "Yes, Pause".
How can I resume my paused SIP?
To resume your paused SIP, follow the simple steps below.
- Go to the "Portfolio" page and click on "Orders".
- Select the SIP you want to resume.
- Tap on that SIP order and click on "View Details".
- Select "Activate SIP".
- Click on "Yes, Activate".
Can I create multiple SIPs for a single coin?
Yes, you can create multiple SIPs for a single coin.
Can I do weekly or daily SIPs?
- We allow only monthly SIPs on CoinSwitch.
- You can create weekly/daily SIPs by creating multiple monthly SIPs.
- For example, if you want a weekly SIP on bitcoin, you can create 4 monthly SIPs spaced 7 days apart.
Will SIP be available on all devices?
Yes, the SIP feature will be available on all Android and iOS devices.
How will my money be deducted for SIP?
Your SIP amount will be deducted from your CoinSwitch wallet. Ensure that your wallet has a sufficient INR balance.
At what time does my SIP get executed on the repeat date?
Your SIP will be executed on the selected repeat date at 6 AM IST.
Is there a fee/penalty if my SIP fails due to insufficient balance?
- No, you will not be charged any fee or penalty in case of a missed instalment.
- To make the most out of SIP, we suggest you do not miss any instalments.
When does my SIP expire?
Your SIP will expire when:
- You pause the order
- You cancel the order
- You miss three consecutive payments