In an effort to celebrate Olympic champions, Bitbns, the country’s leading cryptocurrency exchange, has announced Bitcoin SIP prizes for Indian winners of the 2020 Tokyo Olympics.
The performances of the Indian athletes in the ongoing Tokyo Olympics have been showered with praise and financial rewards. From free pizzas to cash prizes, Indian medalists are amply rewarded. Now they can add cryptocurrencies to their list of gifts.
Bitbns cryptocurrency platform intends to launch a Systematic Investment Plan (SIP) in digital assets for Indian athletes who are winning medals in the ongoing Tokyo Olympics. The exchange will reportedly be granting around $ 2,700 in cryptocurrencies for gold medalists. Bitbns CEO Gauarv Dahake said:
“As India celebrates its 100th anniversary with the world’s largest sporting event, Bitbns is proud to do its part in honoring India’s Olympic champions. Indian athletes who win medals in the Olympics not only fulfill their dreams but also the dreams of billions of Indians and make the country proud on a global platform. I would like to convey my warmest congratulations to Mirabai Chanu and PV Sindhu on winning the medals. “
Mirabai Chanu won the silver medal in the women’s weightlifting up to 49 kg, while PV Sindhu won bronze in the women’s badminton singles. Previously, Lovlina Borgohain had been content with a bronze in the women’s welterweight division after a defeat in the semi-finals.
Bitbns will compliment the Indian medalists by crediting each lakhs worth of crypto SIPs. The amount is automatically credited to their account, which the athletes can later access by filling in the KYC. The SIP will be structured for a period of 3 to 5 years to give them seamless access to the digital asset and at the same time give them the opportunity to generate a fixed source of income over the long term via the platform.
Cryptocurrencies like Bitcoin and Ethereum have been very rewarding for investors as they have generated diverse returns over the past 18 months. However, since April, these cryptocurrencies have suffered up to 50 percent depreciation from their record highs, due to crackdown by regulators in China and concerns about their environmental impact.
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