Create an SIP for a basket of coins from Bitbns with help of Coinzak
SIPs are a great way to invest as they do not involve a one-time lump sum investment but putting in money in small chunks, spread over a long duration. It helps in multiple ways:
- Lowers the risks of losses due to market fluctuations
- Doesn’t involve a one-time commitment and can be stopped whenever you want
- Flexibility to skip payments in case of unavailability of funds
- No emotional decision making as the investment is spread across the lows and highs of the market
- There is no perfect timing due to the spread in the investment period
All in all, SIPs are a great way to invest and helps you to keep your portfolio well diversified.
Coinzak lets you club the power of SIP with any coin or basket of coins on Bitbns. If there is a cryptocurrency on Bitbns, you can create a SIP for the same and get started on the amazing journey of Crypto SIP.
So how can you get started you ask? Please follow the below easy steps to get started on creating a SIP for a basket of coins. (If you want to create an SIP for a single coin of your choice, please read this)
Step1: If you haven’t signed up on Coinzak, just go to https://coinzak.com and log in using your Bitbns account (Coinzak has a deep integration with Bitbns, please read the official blog by Bitbns here)
Step2: Once you are logged in, at the top navigation bar, you will see a button ‘Create’, click on that. You can also click on ‘Explore Coin baskets’ and start SIP for pre-designed baskets that have been created after 10000 simulations and are designed to outperform
Step3: You can name your SIP by editing the name of the coin basket on the top left of the screen and you can also add a description if you like
Step4: To search for a coin to add to your basket, type in the name in the search bar ‘search coin by name or symbol’
Step5: You can add as many coins as you want
Step6: Once you have added all the coins that you want to start a SIP with, you can modify the weightage of each. There are a few ‘Weighting Schemes’ that we give like equi-weighted, market-cap weighted, optimize performance score, etc. and you can also give a custom weight if you want to
Step7: Once you have finalized everything, click on the ‘Save and Invest’ button
Step8: Then, click on the ‘Start SIP’ button, you will have to select the ‘Start Date’, ‘Frequency’, and ‘Amount’
And that is it! You are done. You can anytime edit your SIP or stop it.
Crypto investing was never so easy before. Please reach out to us at firstname.lastname@example.org for any queries.