After investing in digital gold, the companies buy an equal amount of physical gold and keep it under your name in safe vaults.
Do you possess any physical gold item like a gold ring, necklace, chain, etc. and want to sell it for cash? Then reach out to the most trusted gold buyers in central Delhi.
At present, gold is no more used as currency. However, it can yet be utilized as money. Actually, gold has been a store of value for more than 3000 years which is much longer as compared to any other currency. Gold is offered to temples in our country at nearly every auspicious event. This makes our country the biggest Gold importer worldwide. Irrespective of being in the middle of Covid-19, we Indians have discovered a novel approach to invest in this precious metal. This approach is Digital Gold.
Folks hesitate to visit jewellery shops and gold buyers. Therefore, being able to acquire gold digitally has come as a one-stop solution to lots of investors. Let us first discuss what digital gold is, and then we’ll dive into the risks involved.
Digital Gold
There are drawbacks to purchasing physical gold. People may face problems of identifying its pureness and genuineness, and even problems of storing it. There is one more problem that the whole world is facing, Covid-19. Thus, it’s not pretty ideal to visit jewellery shops or gold buyers
You can buy digital gold online and store it inside secured vaults. It even aids us in overcoming every above-mentioned problem of buying physical gold
How Does Digital Gold Works?
People can invest in this form of gold using various e-wallets like PhonePe, GPay, or Paytm. Brokers like Motilal Oswal and HDFC securities too have a choice for investing in digital gold.
Today, there are 3 companies offering digital gold in the country. These are MMTC-PAMP India Pvt. Ltd., Digital Gold India Pvt. Ltd, and Augmont Gold Ltd.
Sites and applications such as GPay, Paytm, and many more offer a platform for MMTC PAMP and SafeGold. As soon as you put your money in digital gold, these metal trading companies buy an equal amount of gold (physical) and keep it under your name within safe vaults.
Ways to Trade in Digital Gold
You must go to any platforms that provide digital gold investments like Paytm, GPay, Motilal Oswal, Groww, or HDFC Securities. As soon as you are on any of these platforms, you do the steps that are mentioned below:
- Submit an amount in either Rupees or grams
You can make a purchase of a fixed value or purchase by weight at the live market rate
- Select the payment mode of your choice
After completing the KYC (Know Your Customer) procedure, you’ll need various payment alternatives to select from like card, wallet, or an account.
- Keep the gold in safe vaults
The account that you are holding is updated immediately, and you can access it any time.
- Sell whenever you wish to
You are free to sell your gold online itself to any of your preferred platform
- Take physical delivery of the yellow metal
If you decide that you do not want to sell your precious metal, you can ask for a doorstep delivery of your gold in either bullion or coins. The delivery charges are also involved.
What Are The Perks Of Putting Your Money In Digital Gold?
- Digital gold is genuine and the pureness is 24 carat 99.5 percent for SafeGold.
- You can use digital gold as security for online loans.
- You can invest as minimum as 1 rupee
- The digital gold can also be exchanged for physical gold coins or gold jewellery
- The digital gold that you bought is kept safe and is fully insured.
Risks of Buying Digital Gold
- Holding charges
In case you purchase gold from SafeGold, it is possible you may need to pay holding charges or storage fees.
- Limited investment period
In general, digital gold has a maximum storage period that the investor needs to take the metal delivery or sell it back. If you have purchased gold from SafeGold, the gold can be held for 7 years, while one can keep Gold ETF given that one wants to.
GST
Wrapping up
Still confused about where to sell gold in Karol Bagh Delhi? Use the internet, and search “old gold jewellery buyers in Karol Bagh.”
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