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Comment by nikhilmantha | Hacker News Reader

Hello esteer! Thanks for your question.

Important Difference. 1. Coin is based on Zerodha's kite platform and requires a demat account for investments. There are multiple disadvantages of using a demat account for mutual funds, one of them being transaction costs on every transaction from demat as well. The others are difficulty in estate planning and also your movement options to other services would be restricted if you don't like Zerodha services. 2. Try searching for popular Franklin funds on Zerodha! :) 3. Piggy is mobile first.

Would love more feedback from you!

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Hey, sorry for the delayed response. In case you see this, do you have any data that I use to compare the costs involved by investing through Coin vs Piggy? Also, since you're a start-up I'd be a bit concerned to give my money with doubts what'd happen if you shut down. How can I make sure my investments are secured even if you shut down?

Hello! We have an offer running currently where when you invite 5 friends to complete sign up through us then all transactions via Piggy are free for you for life.

Also regarding your investments. They are all in your name. You get the final allotment statements directly from the fund houses to your email. You can also generate consolidated investment statements by yourself. So in absence of Piggy you can still buy and sell your investments. We've just made it easier for you to do so.

You don't have a web portal?

Also, could you please expand upon demat disadvantages? How much is that demat txn charge? I think it's kinda insignificant.

Also, from a user point of view, if one has a demat account with Zerodha they can also do stocks with the same account without having to pay for demat again with another provider, right?

Our web is getting built as we speak. It should be up soon enough.

We focussed most of our efforts on mobile till now because as a country we skipped desktops and jumped to mobile first.

Regarding demat for Mutual Funds let's look at it this way. NonDemat MutualFunds is also paperless and you get consolidated mutual fund statements nowadays. So there is no additional advantage of investing in only funds via Demat route plus you have to pay for it.

Less than 1 % Indians have participated in capital markets and mostly through mutual funds. So at this point our focus is on keeping things simple.

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