Are you at fix wondering what exactly Digital Gold is? Well, in the era of digitization, from ‘work from home’ and ‘shop from home’ to ‘learn from home’, everything now-a-day is transforming from offline mode to online mode. Even now several investments are taking place digitally all over the world through demat accounts with the entire invest, redeem and proper track are now being held online. And gold is undoubtedly the most preferred investment option considering the reverse trend it follows. Unlike other investment options, when the market crashes, the demand for gold increases instead of falling. The only shift that has taken over in this sector in which investors are purchasing it online instead of buying physical gold, comes to be known as “Digital Gold”. The new age investment that allows investors to invest digitally in 24K gold of 99.99% purity at real time market price of gold.

Digital Gold Vs Physical Gold

If you are still at vague how it works and why one should prefer digital gold to physical gold, Let us introduce you to how digital gold beats physical gold on almost all fronts. Let’s dig deeper into how it does so -

• One of the biggest problems with buying physical gold is one needs to have a large sum of money whereas digital gold investment can be made with a very nominal amount unlike physical gold.
• In the typical gold purchasing process, you end up paying an additional making charge which ranges anywhere between 5% to 20% of the gold value. This is the sunk cost which can never be recovered. Digital gold on the other hand entails absolutely no making costs even when you redeem your gold in digital form making it a far more lucrative option for investment purposes.
• The other concern is to ensure safety of the gold item purchased. To store physical gold safely one ends up taking up a bank locker with further extra charges. Digital gold once again needs zero holding cost and is safely stored in the service provider’s vault.
• The authenticity of physical gold is often questionable where digital gold ensures certified 24K gold of 99.99% purity.
• In the case of selling physical gold, the selling rate offered by the jewelers is lower than the market price. Digital gold can be sold or redeemed online anytime at real-time market price.

With technology improvement, many online platforms like Mydigigold use innovative ways to offer gold investment. In fact, Mydigigold platform enables investors to purchase or sell gold of 99.99% purity at a live market rate. Not to mention, it is the safest, most transparent and preferred way of investing in gold.