What's the difference between Digital Gold & Physical Gold? Is it worth investing in Digital Gold? All you want to know to take a decision on Digital Gold Investment.
We Indians love gold, don’t we? Be it gold jewellery, gold coins or biscuits, we consume gold in various forms.
We see it not only as a symbol of wealth and prosperity, but also as an investment against the effects of inflation.
Investing in this precious metal helps in neutralising the effects of other high-risk investment instruments such as mutual funds and stocks.
Now as the entire world goes digital, digital gold is becoming more and more popular.
But what’s the reason behind this popularity and how is it different from the physical gold at our homes? Jar has a guide for you:
Digital gold is simply an alternative to physical gold. It is free from exchange rate manipulations and variations and allows the investor to easily trade throughout the world without actually touching physical gold.
In India, you can buy digital gold through multiple apps and websites; however, only 3 gold companies keep your gold, namely Augmont Gold Ltd, Digital Gold India Pvt. Ltd. - SafeGold, and MMTC-PAMP India Pvt. Ltd. It is a safe, convenient and cost-effective way of purchasing and investing in gold online that does not even require any additional storage and transportation costs. Find out how you can invest in digital gold with Jar here.
Digital Gold allows you to get rid of long-term costs and storage problems. The safe is free or insured at face value.
Digital gold can be easily bought and sold anywhere and anytime. You don't need to visit a dealer or keep a secure gold purchase account for many years to get the full resale value of the gold in the future.
On the other hand, digital gold can be bought and sold online anytime, anywhere, in just a few simple steps. After a successful sale, the money gets directly transferred to your registered wallet or bank account within a few days.
With digital gold, you only trade pure gold, which is 24 carats of gold. The total amount you spend is invested in gold only. You only have to pay 3% GST at the time of making the purchase.
While digital gold might seem like an obvious winner, here, it really depends on what you want out of an investment. Both digital and physical gold have their pros and cons, but at the end of the day, do your research and understand which method works better for your situation.