AT the moment Unocoin are the only ones who offers a SIP in bitcoin for India. This is actually a good way for new people who can deposit some money on monthly basis and buy bitcoin just like mutual funds. Great way actually to tap the market from new comers .
Rightly put, with Systematic investment plans for Bitcoins people would eventually relate it more to mutual funds and attribute the mutual funds "low risk" policy which might gain traction for Bitcoin SIP investments in India. In a country were people prefer low risks and higher returns, it's a good way to start. Unocoin is doing really great and I appreciate their efforts for contributing to the Indian Bitcoin community. I'm also eager to know more about their partnership with Bitwages, and how they'd get employers to make payments to their employees using Bitcoins.
Nobody should dream that bitcoins are low-risk just because you buy them through an SIP. Mutual funds lower the risk associated with equity because of diversification and professional stock picking. An SIP is just a way to average your cost of purchase of an asset.
Does that mean that bitcoins should not be seen as mutual funds and by offering SIP, Unocoin is going to make the end-users suffer in the future?
Putting a note on this, I agree that this is a step which sounds to be a "too good to be true" kind of a schema and this might put investors into trouble who would invest into SIPs thinking that they will surely get their returns, as bitcoins are risky markets and we have even seen the worst days before.
Still, hoping for the best with what they have offered.
