Indians have been obsessed with buying gold for ages. As things become advanced, we are moving from buying gold from shops to buying digital gold from online platforms.
But is it worth making an investment in digital gold?
What Is Digital Gold?
Digital gold is an instrument that allows you to invest in pure gold in digital form.
It is just like regular gold that can be bought online and is stored in insured vaults by the seller on behalf of the customer. You can sell this gold at any time at live market rates, in either rupee or grams.
You can also take possession of the gold in physical forms like coins or ornaments, adjusted for any making charges and packaging costs.
When compared with digital gold, physical gold is usually bought for ornamental purposes. It covers many non-refundable fees like making charges, storage costs, etc.
Also, holding gold in its physical form at home carries a lot of risks.
How Safe Is Buying Digital Gold?
The entities that sell digital gold serve as a custodian of your accumulated gold, whether you buy directly or through any partner platform.
A trustee is appointed to oversee the quality and operation of vaults. The physical gold is stored in vaults and these vaults are fully insured for any eventualities such as loss because of theft or damage caused by natural disasters.
Buy Digital Gold As Small As You Can
One of the major benefits of buying digital gold is that you can buy the precious metal for as small as ₹1. However, if you need to buy physical gold, you would have to pay tens of thousands of rupees.
With the increase in the price of gold these days, it is a good idea to buy digital gold as you can buy gold with whatever amount you have available.
When you buy gold for a small amount, you will end up with a huge amount in the long run.
Sell Anytime
Selling physical gold can be complicated but selling digital gold is simple and can be done with a couple of clicks.
You can sell your digital gold at live market rates anytime you wish. It is easy to sell gold as you are not storing the gold, as you would when you buy it in physical form.
Related: Beginner’s Guide To Investing In Digital Gold
Gift Digital Gold to Your Loved Ones
When it comes to giving gifts, we usually prefer gifting physical items, such as clothes, art pieces, and even physical gold.
However, gifting digital gold is one of the best gifts you can give to your loved ones. You don’t have to worry about making changes and your loved ones don’t have to worry about the safety and purity of the gold.
According to historical data, the value of gold tends to go up in time. So, the ₹5000 digital gold that you gift today might be worth ₹15000 in the future.
Set Up A Monthly Or Weekly SIP
Just like an SIP in mutual funds, you can also start an SIP in digital gold.
You can choose from weekly or monthly deductions. Through these methods, a particular amount of your choosing will be deducted from your bank account every week or every month and gold will be bought for that amount.
Therefore, you will be able to save in digital gold periodically and accumulate a sizable amount of gold over time.
In The End…
Since Indians are among the second-largest buyers of physical gold in the world, we are also loving digital gold, with over 100 million consumers in the nation owning digital gold today.
And Koshex is the best platform for you if you are thinking about buying or gifting digital gold.
With Koshex, you can buy digital gold and also track its performance in the account’s dashboard. Also, you can buy digital gold for up to ₹2 lakhs at Koshex without doing your KYC verification.
So, if you are looking to invest in the precious yellow metal, and want to be a smart investor, you can consider choosing Digital Gold.
If you would like to buy digital gold in less than 2 minutes, head over to Koshex right away!
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