Zerodha Unveils Kite Backup: A Gamechanger for Emergency Trading
The world of trading is fraught with risks, not the least of which are technical failures that can disrupt the flow of transactions. In a bold move to fortify trust and ensure uninterrupted trading, Zerodha has launched Kite Backup, an innovative, WhatsApp-enabled emergency mode designed to help traders exit positions and cancel orders during unforeseen disruptions. According to Startup Pedia’s report, this service is a lifeline in the event of a system failure.
An Inside Look at Kite Backup
Zerodha co-founder Nithin Kamath announced the innovative Kite Backup on social media, shedding light on the complexities of trading platforms and the need for such a robust backup. “We’ve built tons of safeguards, but we’re still paranoid,” Kamath shared, emphasizing the unpredictable nature of trading infrastructure that involves exchange connections, cloud servers, and more.
Kite Backup serves as an extra layer of resilience for Zerodha’s clients, operating independently from the main trading platform and its primary hosting partners, such as Amazon AWS and Cloudflare. This autonomy is crucial in preventing a collapse of the entire system, adhering to Indian market regulations that demand comprehensive safeguards.
How To Use Kite Backup: A Step-By-Step Guide
In light of potential technical hiccups, Zerodha’s Kite Backup is both straightforward and crucial. In case of a failure during market hours, traders can activate the service through WhatsApp by following these simple steps:
- Save the number: Add +91 99644 52020 to your contacts.
- Start a chat: Send a “Hi” message to the saved number via WhatsApp.
- Verify your identity through your Zerodha User ID and PAN.
- Enter the OTP received via SMS for authentication.
This seamless process ensures traders can quickly access their positions and take necessary actions, even if the primary platform is down.
Addressing System Limitations
While Kite Backup is a leap forward, it comes with a limitation. As a service that only replaces Kite’s front-end, its efficacy is compromised if the backend servers face issues. Zerodha has cautioned users that the WhatsApp interface won’t work under such circumstances.
A Lifeline for Traders
With no additional costs attached, Kite Backup is set to be a gamechanger, promising not only peace of mind but also safety and reliability for traders navigating the labyrinth of online trading. This innovative solution exemplifies Zerodha’s commitment to their patrons in the face of complex trading challenges.
Are you ready to safeguard your trading journey? Kite Backup is your next step to ensuring resilience in the ever-evolving financial landscape.
