Cryptocurrency exchange Bitbns to offer crypto SIPs to Indian Tokyo Olympic medalists

The company aims to begin with honoring Mirabai Chanu for bagging a silver medal in weightlifting in the 49 kg category and PV Sindhu, who won the bronze medal after defeating Bing Jiao of China, in badminton.

Cryptocurrency exchange Bitbns on August 4 announced Bitcoin SIP awards for Indian winners at the Tokyo 2020 Olympic Games.

The Indian Olympic medalists will be entitled to open cryptocurrency SIPs’ worth lakhs on the exchange.

The SIP will start from Rs two lakh for gold winner, Rs one lakh for silver, and Rs 50,000 for bronze medalists.

The company aims to begin with honoring Mirabai Chanu for bagging a silver medal in weightlifting in the 49 kg category and PV Sindhu, who won the bronze medal after defeating Bing Jiao of China, in badminton to become the first Indian woman with two individual Olympic medals.

The amount will be auto-credited to account of the medal winners, which the athletes can later access by completing the KYC.

The SIP will be structured for a three to five year period.

“Bitcoins 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,” Gauarv Dahake, CEO, Bitbns.

Founded in 2017, Bitbns has over three million users.

The company offers products including bitdroplet, SIP in bitcoin, FIP which is fixed deposit for crypto.

The exchange caters to traders and long-term mature investors among others.

The company also offers advanced trading capabilities like margin trading which can be leveraged by sophisticated traders and automated trading options through API for users.