The gold rates have increased exponentially over the past few years. The reasons can be attributed to increased demand for gold and shrinking economies. Due to the said reasons, yellow metal has become increasingly scarce in the global market. But, don’t worry because digital gold has opened countless opportunities for investors.
You can buy digital gold with a small amount, as low as Rs. 100, and the best part is that you can make a small investment in digital gold and accumulate it slowly to the amount you want. It means that you do not have to wait for months before buying gold or worrying about its security. After purchasing gold, it gets accumulated in a secured vault until you wish to redeem it in physical form.
How to buy digital gold in India?
There are several ways you can buy gold in India. For instance, you can invest in Gold ETs, Sovereign Gold Bonds, and Digital Gold. The process of buying digital is similar to that of buying physical gold. The only difference is that you can buy 24k gold at the prevailing market price and store the amount in a virtual vault assigned to you.
Also, the benefit of gold is that you can make EMI gold purchases in Kerala or anywhere else from the comfort of your home. All you need is a computer with internet availability.
Before buying gold online, know the following features:
- You can make a minimum investment of Rs. 100 in digital gold. The maximum amount varies across gold vendors.
- It enables you to avoid paying associated expenses and making fees.
- The digital gold is offered in 24-karat purity. Most sellers offer 99.99% purity.
- After buying digital gold, it gets stored in a secured vault until redemption. The online gold dealer will not levy any storage charges for up to five years.
- At the time of buying or selling gold, the gold rate is determined on a real-time basis and without any deduction due to depreciation.
- You can easily convert digital gold into physical gold bars and coins. Also, you can sell it back to the vendor at the prevailing market price.
- It enables you to redeem the gold from approved gold jewelers by buying gold ornaments.
- Digital gold stored in vaults is secured against theft or loss.
- Another benefit is that it adds to liquidity; it means that you can enjoy faster transitions while buying or selling gold.
- There is no need for a DEMAT account to buy or sell gold.
Five things to know about digital gold
- There is minimum risk and maximum returns
It is worth pointing out that India has one of the largest millennial populace. They are aware of the ins and outs of the digital market and are more interested in investing in digital gold.
The benefit of digital gold is that it is easier to check the purity of gold without visiting the jeweller. Online gold dealers offer the investors to validate the purity and fineness of the gold and ensure real-time prices at the time of liquidation.
- Digital god investment is a safe bet
From the investment point of view, buying gold online is safe and secure, and the reason is that you can always sell it and get the money during an emergency, where there is no source of income. If you have possession of physical gold, you always have the hassle of keeping it safe. Investors always have to worry about storage costs and security concerns. Therefore, buying gold online offers a safer option.
As an investor, you can buy digital gold visa mobile applications and sell it digitally, whenever the need arises. You can keep a tab on the proceedings in real-time without worrying about its security. Also, you can make EMI gold purchases in Kerala or anywhere at the current market prices.
- Buy gold at the right time
The best time to invest in digital gold is when the prices are low. Most fintech firms have platforms that allow you to buy fractional amounts of gold. So, it is easier to buy gold and safe keep without any physical storage facilities.
- Secure loans
One of the perks of investing in digital gold is that you can use the purchased value as collateral or security against loans. It means that you can use digital gold to access funds in the future to cater to a cash crunch. But, it is worth knowing that the loan amount depends on the value of the digital gold stored online. If you do not make timely repayments, the lender has the legal right to take over the gold.
- Instant updates about gold rates
The digital gold platforms are linked to the real-time market rates for gold. All changes or fluctuations in the gold prices are instantly reflected in the online applications, allowing the investors to take advantage of the latest gold rates.
