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Watch Out: How Digital Gold Is Taking Over and What to Do About It - Jar

Team Jar
April 10, 2022
Watch Out: How Digital Gold Is Taking Over and What to Do About It - Jar

The world is evolving, so is Gold. Read about Digital Gold, how it's taking over and why you should invest in it.

Let us start with a small story.


“Raman, a rich man in the 1950s, had a lot of Gold. He used to store it under his bed.

And used to exchange it for goods and services he availed. One day, he found that his Gold had been stolen. He was helpless.


Ratan, the old man’s son, in the 1980s, too made lots of Gold. He was afraid he would lose it.

So, he applied for a Gold loan and stored it in a Bank. The Gold was safe. But he found it difficult to repay the bank’s money along with the interest.


Rakesh, the old man’s grandson, in the 2010s, made a good amount of money.

He didn’t want to lose money like his father and grandfather did, so he bought digital Gold. He waited for the Gold price to increase.

He sold it and made lots of profits.”


So you see, times change, and so do the methods of savings. These three instances show us how over the time each one of them have learnt their lesson and changed their ways.

It is said that one does not need to make all the mistakes by themselves and should learn from others’, hence, it is time for us to do the same. 


Why be stuck in the 1900s when we can evolve in better ways with time? Go Digital. Invest in Digital Gold. And believe it or not,


Digital Gold is taking over!


That too at a very fast pace. In the time of blockchain, Digital Gold has risen as a chance to invest straightforwardly in Gold while keeping away from large numbers of the difficulties of claiming actual Gold. Over 100 million consumers own Digital gold today.


What is Digital Gold? 


Digital Gold, in simple words, is a new age version of buying gold through online channels.

It is available 24 hours a day, 7 days a week. One can simply access, buy, sell, and redeem from their offices, residences, or wherever else they desire.


Digital Gold is basically a blockchain-based advanced token technology like crypto-currency.

However, unlike the crypto currency, this token is upheld by a true worth, the same amount of actual genuine Gold reserves.

There is no chance of purchasing "counterfeit" digital Gold.


What to do about Digital Gold?


The straightforward answer to it is, invest. 


Why?


  • Digital Gold investments are made in 24 carat Gold, unlike physical Gold that faces concerns with impurities.


  • Since the digital Gold prices are the same all over the country, it becomes easier for one to buy and sell Gold online and at completely transparent market rates. 


  • Digital Gold is different from other types of Gold in terms of cost. There are no recurring annual charges apart from the one time 3% GST. 


  • Moreover, with digital Gold, you can start investing with as small as ₹1; which not only looks like an easy investment plan but also an easy savings plan.


Disadvantages of holding Gold Physically


  • One needs to purchase actual Gold in products of 1gm (identical to roughly ₹4,500) contrasted with multiples of ₹1 when purchasing digital Gold.


  • Furthermore, gems and decorations will accompany high making expenses and there is generally the danger of theft.


  • Selling actual Gold includes an excursion to a Goldsmith where digital Gold can be sold whenever with cash immediately credited to your financial balance. 


  • All one needs is a phone, internet access and a UPI or a bank account. It is pretty much as straightforward as shopping on the web for some other item. 


  • There are multiple aspects that need to be considered before and while buying physical Gold, there is a lot of paperwork to be done for that, whereas digital Gold is a booming choice of people nowadays mostly because it is the easier and the less expensive pathway to save and invest. And not only that, it is safe and insured Gold. 


Read more about the difference between Physical and Digital Gold here.


Conclusion


It has been seen over time on numerous occasions that Gold gives a solid safeguard against inflation.

Gold rates remain practically unaffected at the hour of inflation. Thus, you don't need to experience a loss when inflation hits and the money rates go down in the global market.

When the markets are unpredictable, Gold is expected to be a sure thing. Experts have accepted that adding Gold to your portfolio diminishes the risks as it has zero to low connection to some other assets.


With the fast and rushing world, where no one is taking a breath or pausing for anyone else, where the trends change with a blink of an eye and especially where markets belong to no one and listen to no one, we need assurance, safety and stability and Digital Gold is the way to go about it. 


Check out why there's so much euphoria around Digital Gold.


So what are you waiting for? Download the Jar app now and start investing in Digital Gold today, just from Re. 1.