1. What is the Crypto Investment Plan?
Crypto Investment Plan, also known as CIP, helps you build your crypto portfolio by investing a fixed amount every week.
2. How does the Crypto Investment Plan (CIP) work?
Through our CIP, you can invest a fixed sum of money in a time-bound manner (weekly) without worrying about the market dynamics and stand to benefit in the long-term due to average costing and power of compounding.
3. What are the benefits of Crypto Investment Plan (CIP)?
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- Discipline: CIP installments are made at regular intervals, i.e. weekly on a predetermined day. This disciplinary approach of regular investments is of big advantage to the investor as he/she doesn’t need to actively track the market.
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- Convenience: CIP is a hassle-free process as the amount is automatically debited from an individual’s account and invested in the scheme chosen by the investor. Since the money is automatically deducted from your account, you become more responsible with your money.
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- Flexibility: Investors can choose their preferred installment starting with an amount as low as INR 100 and contribute weekly or even miss installments due to financial or personal choices. And the CIP will continue as normal until investors themselves decide to discontinue it.
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- Rupee-Cost Averaging: CIP lowers market volatility risk in the long-term period. When the markets are high, you buy less quantity of your crypto assets through CIP. When the markets are down, you buy more quantity for the same amount. This enables you to average your investment cost over time.
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- Compounding: CIP installments smartly enable wealth creation over the long-term period. Your earnings are reinvested and you benefit from the power of compounding.
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- No Lock In Period: You can continue your CIP installments for as long as you like and cancel anytime as per your convenience.
4. How can I enroll for the Crypto Investment Plan (CIP)?
You can start your CIP for Bitcoin through the CoinDCX App Home Screen. Simply, select Bitcoin CIP and start investing by selecting your prefered investment value.
5. What is the best time to invest in the Crypto Investment Plan (CIP)?
There is no ‘good’ or ‘best’ time to invest through the CIP. The best thing about CIP is that you don’t have to time the market or wait for the perfect opportunity to invest. Once you select a particular fund to invest in, you can choose any date and invest regularly every week.
6. Can I start CIP at any time or when the market is high?
Crypto Investment Plan (CIP) can be started at any point of the time and at any state of the market. CIP helps you to start investing with a purpose without worrying about market highs and lows.
7. Is there any upper limit for CIP investments?
Yes, our CIP installments are fixed at values INR 200, 500, 1000, and 2000 on a weekly frequency basis.
8. Are there any fees on Crypto Investment Plan (CIP)?
No, there are no additional or hidden fees. Our CIP amount includes all the fees applicable, viz 0.2%.
9. When do I need to pay for the Crypto Investment Plan (CIP)?
CIP amount is auto-debited from your CoinDCX wallet on a weekly basis. Ensure to keep adequate funds available in your wallet for timely investment.
10. Can I miss a CIP installment?
Yes, you can miss your Crypto Investment Plan (CIP) payments. And even if you do, your account will not get deactivated. If you miss a CIP due to insufficient balance in your account, you can just pay it next week, and your CIP will continue as normal.
11. How many CIP installments can I miss due to insufficient balance?
It’s a myth that you can’t miss your CIP payments. And that if you do, your account will get deactivated. That’s not true at CoinDCX. You can skip your CIP installments for as long as you prefer. Your CIP will continue as normal and not get deactivated.
12. How can I reduce or extend my CIP duration?
We currently do not have any fixed lock-in period for Crypto Investment Plan (CIP), thus you can cancel or continue your CIP for as long as you like.
13. How can I cancel my CIP duration?
If due to any unforeseen or personal circumstances, you wish to cancel your CIP at any given point in time, you can simply cancel it using the CoinDCX app.
14. Is Crypto Investment Plan (CIP) a risky investment?
None of us are strangers to the fact that cryptocurrencies are high-risk assets. However, as compared to any other mode of investment, CIP is less risky as you will invest periodically, the amount of investment is of your choice and the period of investment is also as per your preference. You can withdraw the money at any point in time.
15. Is there a lock-in period for Crypto Investment Plan (CIP)?
Not at all. You can continue your CIP installments for as long as you like and cancel anytime as per your convenience.
16. What if I don’t have enough balance in my wallet?
Don’t worry! In case you do not have the required amount of balance in your wallet for the CIP amount to be auto-debited, the CIP for that week will be skipped and not deactivated. The CIP will stay active. You do not need to reactivate or restart your CIP for the next installment.
17. Do I need to manually restart CIP after adding funds?
No, you do not need to reactivate or restart your CIP after adding funds. It will automatically continue to check for funds for the next installment.
18. Will the INR wallet balance be locked for the CIP feature?
No, it will not. We will send out reminder communications one day before the CIP installment date is due to ensure there is an adequate amount of funds in the wallet.
