The world has been witnessing a digital boom for years, from gadgets to medical science, space technology, AI robotics, and many more. When it comes to the topic of investment, we generally think about putting our money in the Stock Market, Mutual Funds, and emerging technologies, such as blockchain run by cryptocurrency.
But nowadays, investing in Digital gold has grown popular among investors who leverage to own the gold without the hassle of any physical storage over mainly in a bank locker or under any safe custody, which charges a lot monthly. Now lets dive into the main topic how to invest in Digital Gold and where to invest ?
What is Digital Gold?
Investing in gold digitally without the headache of storing and keeping it in safe custody is called Digital Gold. In electronic mode, a person can buy, hold, or sell gold digitally. Each gram of gold you buy electronically is backed by the authentic, real gold you generally purchase physically from a reputable store marked by a hallmark. It is an easy way to manage your investment online and is protected by the governing authority.
Why Invest in Digital Gold /eGold?
There are mainly four pillar reasons to invest in Digital Gold, as it could vary depending on people’s needs.
- Accessibility:- If you are a beginner or student, you can start investing from a minimum of ₹10. Here is no burden of a minimum investment in large money.
- Flexibility:- You can invest or withdraw your gold value amount anytime in electronic mode, you don’t have to wait for the other institution’s timing, who maintain your gold vault in case of physical investment.
- Security:- Digital gold is backed by the physical gold stored in a vault. The value of these two shall never diverge, now or evermore.
- Hassle-Free Storage Solution:- Investing in Digital Gold gives you peace of mind as you don’t have to think about the authenticity of the vault institution or any theft risk. Your Digital Gold is safe in a professional service vault.
Thorough guide on how to buy Digital Gold?
In India, many institutions operate the service to invest in Digital Gold, like MMTC-PAMP India, Tanishq, Caratlane, and so on. If you want to invest through a fintech digital platform, you can opt for Gpay, PhonePe, or Amazon Pay.
Generally, the process is common for all platforms
- Register and create an account
- Recharge your wallet
- Tally the gold rate in the real market
- Invest in gold
- Track your investment portfolio
In case of sale, you can go for the investment tab, then choose how much you want to sell, and then execute a sell order. When you invest in the big gold dealer house in digital mode, like MMTC-PAMP India, Tanishq, and Caratlane, you can redeem the p[physical gold from your digital investment portfolio.
Tips for Digital Gold Invetsment
Start from a small amount:- If you are starting now, then start with a small investment first, gradually get experience, and increase your investment gradually.
Don’t expect to be a millionaire overnight:- Investor generally expects a huge return from investment, but it is not a game of overnight. As the market rises, your portfolio will start to gain momentum. Always try to become an investor for a long time.
Invest more, Expense less: Maybe this part could not be acceptable to everyone who loves to buy materialistic happiness, but in reality, this material value will be depreciated over time compared to your investment, which will grow over time.
Invest Regularly:- Start to invest regularly in a small amount and after a certain years, you could probably find that your investment will become many times by the rule of compounding.
Follow Market Trends:- Stay updated with market trends, try to take advantage when the price falls, and book a profit in a certain part if necessary.
Investing in gold over stocks or mutual funds always has over benefits if you study the last 10 years of the market. And if you invest in Digital Gold, it proves you are taking care of your portfolio in an innovative, convenient, and secure way.
Hi Readers, This side Subhasis Banerjee. I love to write blogs as I think I am a passionate writer and digital storyteller, curating insights on trending topics across technology, business, world affairs, automobiles, sports, entertainment, and astrology on various blogs.. With a keen eye for detail and a drive to inform and inspire, I try to transform complex ideas into accessible content for curious minds. When I am off in writing, I enjoy exploring emerging tech, tracking market trends, and creating content that sparks conversations, and I love to ride.