If there’s one thing that each Indian household would approve of investing in, it’s gold. Gold has been a part of the Indian family and portfolio for a long time. But, what if you could invest in gold sitting right at your bed? It’ll be just like any other security you trade over the internet. If this sounds like something you’d be interested in, Digital Gold should be your choice. Investing in digital gold is much smoother as you don’t have to worry about going to a jeweller or even making charges. It’ll just require some money, a digital gold dealer and the Internet. Thus, within a few clicks, you’ll be adding a safe investment to your portfolio and diversifying your portfolio.
What is Digital Gold?
Digital Gold is simply investing in gold through a digital platform. You don’t need to go to a jeweller to buy the gold; all you need is a payment method and a platform. Currently, these three companies are offering digital gold:
- Augmont Gold Ltd.
- MMTC-PAMP India Pvt. Ltd. It is a joint venture between MMTC Ltd. and MKS PAMP.
- Digital Gold India Pvt/ Ltd with its SafeGold brand.
These three companies collaborate with hundreds of brokers and payment partners, allowing investors to invest in digital gold easily. For example, you can go over to Paytm or GooglePay to easily buy digital gold just like any other security.
Whenever you invest in digital gold, the companies safeguard the equivalent amount in a vault. You can either sell that gold again or request it in a physical form. Either way, it’s a convenient option if you want the gold physically or want to make profits leveraging the price fluctuations.
What are the benefits?
Digital Gold is a step towards digitalising a loved asset in the Indian Economy. Earlier, buying gold would only mean looking at jewellery or coin designs at the jeweller, which isn’t without its making charges, significantly increasing the prices. However, you can consider investing in digital gold because of these benefits:
● The prime benefit is the investment amount. You can start investing in digital gold at even ₹1. It’s an excellent choice for investors who do not want to invest a hefty amount but still want gold as a part of their portfolio.
- ● There’s no need to worry about the purity of digital gold as your investment goes through several checks, offering only 24k pure gold. You don’t have to put up with the extra effort of checking the gold’s authenticity.
- ● Digital Gold doesn’t require you to spend extra money for safe storage. Unlike physical gold, you don’t have to spend money on lockers or storage options, making it
cost-effective. Also, it is the company’s responsibility to safeguard your investment so you don’t have to worry about theft or loss.
- ● Your investment is insured, and you wouldn’t have to face any loss in case of an adverse event. It is the company’s responsibility to keep your gold safe.
- ● You can quickly sell off the digital investment within a few clicks, unlike physical gold. It helps the investors make profits out of price changes.
- ● You can either sell off your gold or get it in a physical form. You may opt for gold bars or coins and even get them delivered to your house.
- ● Digital gold is a safe investment, and you can use it as collateral too. It would help you easily get a loan. How to invest? If these benefits are what you want for your portfolio, follow these steps:
- ● You should first find a platform that offers digital gold trading. The famous ones are GooglePay, Groww, HDFC securities, Amazon, or Paytm.
- ● After clicking on the relevant option, you have to select whether you want to buy it in grams or rupees. It depends on if you wish to invest a fixed amount or buy at the current rates.
- ● You need to complete your KYC process to access the payment options. You can choose any from card payment, Internet banking, or wallet.
- ● After the transaction is complete, your account would show the relevant balance of gold. Also, your gold investment gets stored in a vault. That’s how you can become an owner of digital gold. It is pretty easy, and you don’t even have to leave your bed. After that, you can sell your investment whenever you want. Also, an option for physical delivery is there if you want that yellow metal right at your doorstep.
If you want a safe investment for your portfolio without spending a lot, Digital Gold is your option. It would help skip the trouble and expense of buying the jewellery, storing it, and then selling it to another person. You can just start with your phone and end the process right there. It’s a win-win situation that would make both your portfolio and your family happy!