Introduction:
Hello reader, today I’m going to share with you regarding digital gold, how to buy it, and how to invest in it. To learn more, stay tuned and read the entire article so you will understand this topic. Nowadays, we know that the share market is crashing, and falling continuously but gold is performing well, so today’s topic I will discuss briefly.
What is digital gold?.
When you don’t want to buy physical gold or store it so most of the people go for digital gold which is easily available in online platforms such as Paytm, Phone Pay, and Google Pay. The most important feature of digital gold is there will be no fear of theft. The price of physical gold affects the value of digital gold, it is a secure and dependable investment choice. when the physical gold price increases or decreases same way digital gold price also works the same as physical gold it is very simple and accessible.
How to invest in digital gold?
So many platforms provide the facility for buying and selling digital gold such as Paytm, phone pay, Google Pay, and more. If you want to buy digital gold you can easily buy it including gst charges and keep it as many as you want.
Advantages of digital gold?
Secure storage: The way you keep your share in a demat account same it is apply for digital gold you can easily keep it with a platform from where you have bought it. There will be no chances of lost, destroy, and theft so its storage is very safe.
Start with minimum investment: No high amount of money is needed to buy digital gold if you have 100 Rs you can buy it worth of 100 Rs gold.
lenders accept it as collateral: If anyone wants a loan they can use it as collateral for the loan and no paperwork work needed much for this.
Ease of exchange: If you want to buy physical gold and coin so you can easily convert your digital gold into physical gold. Liquidity and flexibility is very high in digital gold.
100 % purity in digital gold: Virtual gold is 24K and thus comes with 99.99% purity. There are no chances of fraud involved in digital gold buyers should not worry about purity also. Buyers will get value for what they have paid.
Disadvantage of digital gold:
No regulatory body: In digital gold, there is no regulatory body involved so it is a very high risk involved in it. This means of lack of regulations and agencies associated with the digital gold trade.
Storage Time Limit: Digital golds are very secure and safe across the platform but many platforms provide such storage facilities for a specified period of time. They ask to sell it or withdraw it.
Three platforms deal with digital gold:
Digital Gold India Pvt. Ltd. (SafeGold)
MMTC PAMP India Pvt. Ltd.
Augmont Goldtech Ltd.
So these entities have licenses to deal with digital gold.
Conclusion:
Digital gold is a safe investment in comparison to physical gold, In digital gold there will be no chances of theft and loss, destroy, however, it is very simple to buy and store it without any worry. Digital gold works just like physical gold price the way it performs digital gold will also perform. As we know gold has been performing very well since December 2024 and might touch Rs 90000 very soon. So if you want to invest in Digital gold kindly consult with you financial advisor. This is not buying and selling recommendation.