Digital Gold: Digital Gold is a way of buying gold online without needing to hold physical gold. Instead of purchasing actual gold bars or coins, you buy gold stored in digital form. When you buy digital gold, you own real gold, but the provider safely stores it in secured vaults for you.
Digital gold has gained popularity because it’s easy, convenient, and lets people own gold without worrying about its physical storage or security.
Benefits of Investing in Digital Gold
1. Small Investments: You can start with a small amount. Many platforms let you buy as little as ₹1 worth of gold.
2. Safety and Storage: No need to worry about where to store the gold or its security. The gold you buy is stored in insured vaults by the service provider.
3. Easily Accessible: You can buy or sell digital gold anytime, even from your mobile phone.
4. Real Gold Backing: The digital gold you own is backed by real gold, so you have actual ownership.
How to Invest in Digital Gold
Choose a Platform: Many financial platforms offer digital gold. You can buy digital gold through banks, brokerage apps, e-wallets, or investment platforms like Paytm, PhonePe, Groww, and others.
Complete KYC: Some platforms may require you to complete KYC (Know Your Customer) before buying digital gold. This is to verify your identity.
Decide the Amount: You can invest in a fixed weight (like grams) or a fixed amount . Digital gold allows small investments, so you can start with any amount.
Purchase the Gold: After selecting the amount, you make the payment. The gold is then added to your account, and you can see your holdings in the app or platform.
Sell or Redeem: When you decide to sell, you can do it through the same platform. Some platforms also allow you to convert digital gold into physical gold if you wish.
Things to Keep in Mind
– Storage Fees: Some platforms charge a small storage fee for holding the gold in their vaults.
– GST Charges: Buying digital gold includes GST charges, similar to buying physical gold.
– Price Difference: The buy and sell price may differ due to platform fees or market price changes.
Secure way to invest in gold
Digital gold is a convenient way to invest in gold without worrying about physical storage. It’s a great option for those who want to start small, buy easily, and manage gold from their phones. However, like all investments, it’s good to research the platform, fees, and other charges before investing.
Investing in digital gold can be a simple and secure way to add gold to your investment portfolio.
