Digital Gold: How it works, Where to Buy, Benefits?

Digital Gold: How it works, Where to Buy, Benefits?

For investment in assets, gold has been the most preferred choice by the people. That’s the reason why most people buy gold during festivals or special occasions. This tradition of buying gold has been followed for many ages. Therefore, people from older generations are habitual to buy at least a small amount of gold to keep it as an investment.  

But now for the new generation, there should be a new way to buy gold, isn’t it? As today’s generation is very much used to online shopping, the traditional method of buying gold has been replaced with “Digital Gold”. 

Digital Gold

Wondering what is digital gold? Digital gold is a virtual form of gold that enables buyers to store up gold without using physical stores or safe houses. The amount of such gold sold to the buyers is set aside by the seller on their behalf. Digital gold investing has no upper or lower bounds. Customers may purchase a single item in a small batch, say Re. 1.

To start with Digital gold you only need an internet connection and m-banking to make payments in order to buy and trade digital gold. In today’s world, even digital wallets like Paytm and Google Pay provide a platform for buying digital gold. Do you want to know how to buy and sell digital gold? It is very easy

How does investment in Digital gold work?

Investing in digital gold is much easier, as you don’t have to spend huge amounts of money. You can invest in digital gold at a low cost of Re.1 only. Digital gold investment transactions can be routed through mobile or internet banking. The gold rate is based on various factors such as international gold prices, custom duty, and exchange rate. Once you confirm the order and verify its basis OTP will be received on the registered number. The purchased digital gold is instantly credited to your bank account. 

The best platform to buy Digital Gold

Gold is a valuable metal that should be purchased from trustworthy jewelry stores with proper quality checking and safety. Generally, people trust buying gold from the local jewelry store owner. But now you can buy digital gold online without visiting any jewelry store. Muthoot eSwarna is the best place to buy digital gold hassle-freely, without worrying about quality, purity, and safety. Digital gold price at Muthoot eSwarna is only Re.1.

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Benefits of Digital Gold: 

Compared to physical gold buying digital gold is a better option for every person. Because digital gold is available at a low price and can be purchased in small fractions. So, at a time you don’t need to spend a lump sum amount of money to buy gold online. More benefits of digital gold are as follows:

  1. Quality of gold: For buying gold, quality is the major factor that customers are concerned about. In the case of physical gold, you can see and feel the quality of gold before buying it. But buying digital gold is completely different, so customers might hesitate to buy it. But Muthoot eSwarna assures the authenticity of digital gold.
  • Gold at your doorstep: Nowadays, every small thing you can purchase online with just a call or click of a button. Similarly, now a precious metal gold will be delivered to your doorstep with just one call. Muthoot eSwarna provides the service of delivering physical gold to your doorstep. 
  • Reduces cost: The price of digital gold is Re.1 only but it also eliminates the cost of making charges and storing gold in a locker. Buying online gold is the best money-saving option for everyone.
  • Secure investment: When you purchase gold digitally, an equal amount of physical gold is backed up and secured by a vault, guaranteeing your investment’s security at all times.
  • Purchase gold in small amounts: Digital gold gives the best option of buying gold in small amounts and smaller denominations.

 

Is digital gold a good investment?

Traditionally people buy gold in the physical form, but buying gold in the physical form has some risks involved in it. Buying physical gold requires a good amount of money and a safe place to store it. But in the case of digital gold, the scenario is completely different. Online gold gives you the flexibility to invest money at a low cost of just Re.1 and it also reduces the risk of storing gold at your home. Digital gold investment is a secure form of investment as your valuable gold is stored in virtual form. 

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The quality of digital gold is also not an issue. Just like physical gold, digital gold is also available in pure 24 karats. And the best part of digital gold is you can buy and sell digital gold as per your choice. You can also start SIP in Gold if you are an long term investor.

To Conclude:

Buying digital gold is a reliable option because the companies that sell it are the ones in charge of keeping investors’ physical gold safe, whether they do it directly or through a platform. A trustee is chosen by organizations to keep an eye on the condition and performance of investor vaults. Investors need not worry about their priceless yellow metal as a result. Therefore, compared to physical gold, there is less chance of having digital gold stolen or damaged.

 

Gold is regarded as the most reliable metal investment option when compared to other options for a long time. Gold serves as an asset during times of crisis when there is no cash on hand, benefiting both private citizens and commercial enterprises. Therefore, it is wiser to purchase or invest in digital gold.

 

ranjita shalgar
About S Ranjita 224 Articles
Ranjita is a seasoned writer on a variety of topics. She has been writing for 8 years now on various international publications. Entertainment and current news topics are her favorite. She can be reached at [email protected]