A 5-Step Digital Gold Guide (That ANYONE Can Follow)

Gold is viewed as an essential metal of the family endowment to the next generation. As it is one of the trusted and oldest stores of wealth. So, the importance of physical gold is still the same for people. But with the changing time, the scenario of buying gold has changed. Now technology has taken place of how we eat, shop, or stay connected with the world.

Then why gold shopping should be left behind? 

That’s where the concept  came into the picture. Digital Gold is an improvement to make gold more practical, easy to use, and effective. India embraces financial literacy and the need to invest in a variety of asset classes. The idea of investing in the digital version of a commodity that the country has been physically and emotionally attached to is slowly beginning to take shape.

Further, let’s understand more details about Digital Gold.

What Does Buying Gold Digitally Mean?

Digital gold is a way to invest in physical gold without actually having to hold any of it. Digital gold service providers (like SafeGold) give their customers the option to buy gold through an app in any amount, allowing them to gradually increase their gold holdings. Customers’ gold is kept in a vault and is available for sale or conversion into physical gold whenever they want.

Advantages of Digital Gold investment:

Purity: Since digital gold is only traded in 24-carat form, which is the highest purity for the metal, its purity is guaranteed when we purchase it. This is not the case when investing in physical gold as there is a chance for irregularities.

Safety: Unlike physical gold, which runs the risk of being lost or stolen, the digital form of gold is stored in a Demat account. So, there are fewer chances of getting gold stolen. In comparison to storing physical gold, which requires a safe or a vault and incurs locker fees as well as insurance costs, storing gold in a demat account is also considerably less expensive.

Liquidity: Anytime, anywhere, and in a matter of nanoseconds, digital gold can be purchased and sold. This convenience is not available when purchasing physical gold, which must be done so from reputable merchants who offer jewellery with official hallmarks.

Wear and Tear: Physical gold can be used in daily life therefore it is susceptible to deterioration. In the case of digital gold, the metal is safe and unaffected by aging because it is stored in a digital format.

No Making Charges: Digitally purchased gold can be redeemed for coins or bars. Consequently, one doesn’t have to pay any unjustified manufacturing fees and can actually obtain the purest form of gold. Investors who do not want to store their gold physically can simply sell it online.  A 24-hour market-linked rate will transfer the value of the gold right into their bank account.

Can be used against loan: Investors are allowed to use digital gold as collateral if someone wants a loan against it.

Steps to Invest in Gold Digitally: Buying digital gold is a seamless process you don’t require to spend much time on it. To buy gold from eSwarna you just need to follow some simple steps mentioned below.

To buy digital gold from eSwarna:

Please provide us with your basic information.

Enter the number:

Please enter the amount of Gold you wish to purchase.

Select a payment option.

Select your preferred method of payment: Debit or credit cards, UPI, or net banking.

Your gold is been purchased digitally.

Where Can You Buy Digital Gold in India?

There are various stores available to buy digital gold in India. But when there is a question of buying gold it should be purchased from a  trustworthy place. eSwarna is the best option to buy digital gold in India.

What Makes Investing In Digital Gold Attractive?

• Security and locker fees: Storing physical gold in bank lockers is a risky business that imposes additional costs in the form of locker rents. This is not the case with digital gold, which can be traded and cannot be stolen from our Demat accounts.
• Passive Income: Earning an income from physical gold is not possible; keeping it in a safe requires a cash outflow. However, investors in digital gold receive a passive income in the form of interest.
• Making charges; When purchasing physical gold in jewellery form, investors need to pay making charges on top of the gold’s purchase price. As a result, their returns are reduced and they are now looking to purchase digital gold, which has no making charges of any kind.
• Increased Awareness: Information is now more widely available thanks to this developing technology. As information and knowledge have increased, investors are now more aware of the different types of investing. Similar to how investors are now separating investment from insurance products as they become more aware of the distinctions between endowment policies and life insurance.

Bottom Line

The most convenient way to invest in gold has emerged as digital gold investment, which offers a simple application process and uncompromised safety features. In terms of purity and flexible buying and selling options, it has grown to be more appealing and superior to buying physical gold. Intentional investors can purchase digital gold from eSwarna. To buy gold, all one needs to do is register an account with their preferred platform, choose a rupee or gramme denomination, and pay with their account. In this digital age, simplicity is highly desired, making gold a well-liked investment among those who are tech savvy.

Almost all auspicious occasions include gold purchases. It increases the financial diversity of the investment portfolio and aids in mitigating inflation and currency fluctuations.

Investing in gold enables one to weather market turmoil. Consequently, investing in digital gold is a great way to protect your money and have access to it whenever you need it.