At present people like to invest in gold. From festivals to weddings, people of the country buy gold in large numbers. However, now the way of investment is changing. At present, people like to invest in digital gold. Investing in digital gold is quite safe and can be easily saved. In simple language, digital gold is a way to buy gold online. You can also invest in digital gold by buying gold worth just one rupee.
Gold can be purchased in electronic forms like ETFs and gold Savings Funds. Investing in digital gold can be started with a minimum of Re 1. According to the market price, you can buy and sell it yourself. Particularly three companies in India are MMTC-PAMP India Pvt. Ltd, Augmont Gold Ltd, and Digital Gold India Pvt Ltd offer digital gold under their SafeGold brand. Airtel Payments Bank also offers DigiGold along with SafeGold.
Know who can buy digital gold
Anyone living in India can buy digital gold. According to the Axis Bank website, if you want to buy digital gold, you must have a savings account or current account.
In India, a minor account holder and an NRI customer without an NRO account can buy digital gold.
Benefits of investing in digital gold
You can start with a small amount in digital gold. You can invest in this with just one rupee. Customers investing in digital gold can also sell it if needed.
You can convert digital gold into physical gold because you get the option to do so. This can be converted into gold coins, bars, or anything of your choice.
Digital gold is stored by the seller in insured and secured vaults, for which the customer does not have to pay any charges.
If you have digital gold, it can be used as an asset as collateral for online loans.
Investing in digital gold also has the advantage you getting instant updates on gold prices. Customers can buy or sell gold based on real-time market updates.
(PC: iStock)
