Bitbns is offering Olympic 2020 Medal winners beginning from Mirabai Chanu and P.V. Sindhu for winning Silver and Bronze medals, an SIP worth INR 100000 and INR 50000 respectively.
Bitbns, one of India’s several popular cryptocurrency exchanges, has announced the entitlement of Systematic Investment Plan (SIP) for Indian Olympic participants who bag a podium finish at the Tokyo 2020 Olympic Games.
Felicitation award by Bitbns
The exchange aims to felicitate the Indian Olympic medalists by opening cryptocurrency SIPs worth lakhs in their names on its platform. The various SIP categories are INR 2 lakh for gold, INR 1 lakh for silver, and INR 50k for bronze medalists.
Bitbns will begin with Mirabai Chanu for bagging a silver medal in weightlifting 49 kg category and PV Sindhu for winning the bronze medal after defeating Bing Jiao of China in badminton and also for becoming the 1st Indian woman with 2 individual Olympic medals and that too in consecutive Olympics.
The amount will be auto-credited to the account, which the athletes can access by furnishing the mandatory KYC details. The SIP will be structured for a 3–5 year period which will offer them a seamless exposure to digital or virtual assets and also enable them to earn a fixed income in the long run.
Gaurav Dahake, CEO Bitbns, told Coin Crunch India,
“As India celebrates its 100-year journey with the biggest global sporting event, Bitbns is proud to associate and play its bit in honoring the Indian Olympic champions. Indian athletes winning medals at the Olympics are not just fulfilling their dreams but the dreams of billions of Indians while making the country proud on a global platform. I would like to convey my heartiest congratulations to Mirabai Chanu and P.V. Sindhu for bringing home the medals.”Gaurav Dahake, CEO – Bitbns
“Bitcoin and Ethereum have been the best-performing assets in the last decade, and have given exceptional returns and we aim to get our winners indulge in this rewarding journey. Our Olympians are the personification of sheer grit, valor, and commitment, and the sense of pride they gift us is immeasurable. This is a small gesture from us to gratify them in our own way,”
he further added.
Bitdroplet SPP (Systematic Purchase Plan)
Bitbns offers Bitdroplet SPP (Systematic Purchase Plan) which allows one to invest in cryptocurrencies via an SIP. A user can invest in the top cryptocurrencies such as Bitcoin and Ethereum through regular installments with various available time intervals like daily, weekly or monthly.
To avail the SIP service, one must set the amount to invest in Bitcoin or Ethereum periodically (every day, weekly or monthly). Deposit INR in the wallet using UPI and the money will be automatically invested into the cryptocurrency as per the desired periodicity.
Once the wallet is nearly empty, the user can deposit more money to continue investing. To cash in, one can sell the cryptocurrency and redeem the wallet money to one’s bank account.
The platform encourages small volume periodic investments to reduce risks while timing the market well and helps to build good financial habits.
India has won 5 medals in the Olympics 2020 as on Aug 05, 2021, two silvers and three bronze.