Concept of Digital Gold

Digital Gold in which you can buy and sell gold online same as Share and Mutual Funds and without taking physical delivery of gold. There are many types of Authorized Online Mode for buying it, which provides you the complete freedom to invest in digital gold by taking fixed charges. Digital Gold transactions are mainly done by SafeGold and MMTC – PAMP, a joint company established by India and Switzerland. So, if you are also thinking of investing in Digital Gold, then it is very important for you to understand all the information related to it carefully.

Benefits of Digital Gold:-
1. In Digital Gold, you are fully guaranteed safety.
2. Here you can start with even the smallest Investments, which start from just ₹ 1.
3. You can convert the investment made in Digital Gold to Cash or Real Gold at any time.
4. Also, there is no difference in the market price of real gold and digital gold.
5. Due to which you can buy and sell it online anytime keeping in mind the charges
6. You can start investing with Mobile Apps and easily track your gold price.
7. Apart from this, if you want then you can also invest in digital gold by opening a Demat Account.

Digital Factors of Gold:-If you have already thought about investing money in digital gold, then before that you must understand some main things related to it –

  • Where to get Digital Gold?
    As mentioned earlier, this digital gold is being offered by MMTC – PAMP India Pvt. Ltd. You can buy it through Paytm, PhonePe, Google Pay and Demat account.
  • Identification of purity of gold?
    In terms of purity, both SafeGold and MMTC – PAMP provide 24-carat gold. But in beauty, SafeGold offers 99.5% and MMTC – PAMP 99.9% Purity.
  • How long can gold be held?
    In this, if you buy Gold from MMTC-PAMP mode, it can be held for 5 years and in the case of SafeGold, it can be held for 7 years. But at the end of the time limit, you will have to sell gold or you can convert it to Real Gold too.

How to Buy Digital Gold
There are many ways to purchase digital gold in which you can buy it using a payment app or Demat account. But if you want to invest in digital gold in the easiest way, then Google Pay, Paytm and PhonePe are the best options for this.

  • How to buy Gold from Google Pay?
    Google provides you the service of buying gold with the Highest Security. For this, you have to download Google Pay App and link it to your account, after which –

    1. Open Google Pay App.
    2. Tap on New Payment.
    3. Start type “Gold” in the search box option.
    4. choose the option of Gold Locker.
    5. Go to Buy Gold option
    6. Enter the amount you want to buy gold from as part of your budget.
    7. The current market price visible will be with tax.
    8. Immediately after payment, the quantity of gold will appear in your Gold Locker.
  • Points to note –
    > The price of gold will not change for the next 5 minutes while buying gold.
    > You can buy gold between ₹ 1 to ₹ 50 thousand in a day.
    > If there is a mess and your money is deducted, then your money will be returned in 3 working days.
  • How to buy gold from Paytm?

Like Google Pay, you can also buy gold from your Paytm App. Some of its main points are as follows –
1. You can buy gold from ₹ 1 to ₹ 1.5 lakhs.
2. At least you should have gold worth ₹ 5 while selling.
3. Price does not change for the next 6 minutes of a transaction.
4. If you hold gold, then after 5 years the charge will be levied.
5. Bank details have to be given while selling Gold.
6. Price will include tax, bank charge and other charges.
7. Within 3 days of selling gold, your money will come into your account.
8. If you want to convert digital gold to Physical Gold, you can order it at your home – whose charges are different.

  • How to buy Gold from PhonePe?
    Tell you that in PhonePe, you can buy gold just like Paytm and Google Pay. Also, the rules are the same which apply for both the above-mentioned apps.
  • How to buy gold from Demat account?
    If you want to invest in digital gold by opening a proper Demat account, for this you must have a Best Demat Account. Through which you can easily keep an eye on your gold or any other investment in the stock market.

    Hope you can understand what is Digital Gold and How You Can Buy the Same.

3 thoughts on “Concept of Digital Gold

  • November 9, 2020 at 9:16 am

    I’ve already purchased from shop. ☺


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