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What Is Digital Gold? Know How To Avail This

People can purchase Digital gold via online and the sellers on behalf of the customer sellers stored the digital gold in insured vaults.

What Is Digital Gold? Know How To Avail This

Sentinel Digital Desk

For decades, people have believed in gold and have been investing in because the yellow metal is considered a safer investment option compared to other investment option. As gold is a safer investment, most of the investors have gold in their portfolio as it has consistently given better returns. Earlier people used to invest in physical gold, but now as the time has changed and people living in digital era are also showing their interests in investing in digital gold. The investment in digital gold can be done through many online platforms and stockbrokers. So, before we dive into how we can invest in digital gold and how we can purchase it through digitally? Let us first understand Digital Gold.

What is Digital Gold and from where it can be purchased?

People can purchase Digital gold via online and the sellers on behalf of the customer sellers stored the digital gold in insured vaults. One need interned and mobile banking and he/she can invest in gold digitally anytime, anywhere. One can buy for less than Rs 100 as there is no minimum purchase limit.

Different platforms to invest

Mobile e-wallets like Paytm, Google Pay and PhonePe are the platforms from where one can invest in gold. There are also brokers such as HDFC Securities and Motilal Oswal offering investment in gold.

Companies offering digital gold

At present, there are three companies selling digital gold in India - Augmont Gold Ltd., MMTC-PAMP India Pvt Ltd.

Benefits of buying digital Gold

You can also buy gold in small quantities. You can start investing with as little as Rs 100. Through this you invest in pure gold. There is no cost of jewellery making which saves money. You don't have to worry to keep it safe like physical gold.

Transparency and Real time updates

Before investing in digital gold one should keep in mind whether the firm where you are investing is providing you with transparency and real time updates or not. Because if you do not know immediately when there is a change in prices, then you may not be able to earn much and right profit.

Disadvantages of buying digital gold

One need to pay 3 percent Goods and Services Tax (GST) while buying digital gold like in the case of physical gold.

There is no official government-run regulating body such as RBI and SEBI.

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