In India, Gold is generally considered to be an extremely stable investment option, as the price is not known to fluctuate in a volatile manner, and the rate of gold remains same across the global market, adding to its stability. The symbol of grandeur, prosperity and luck; the charm of this yellow metal will never fade away for all the gold love-stuck Indians. With 136.6 tonnes of jewellery consumption (before the pandemic), India has become the largest consumer of gold. But with the evolution in technology and issues on which physical gold is lagging behind like authenticity, security, storage, safety, accessibility; triggered the need of digital gold. Slowly but steadily, people started gravitating towards digital gold as a viable investment instrument. Digital gold transaction platform mydigigold by Senco Gold and Diamonds that have a legacy of over 5 decades in the gold market is now providing opportunity to invest in gold anytime anywhere without any hassle.

As an investor, it is important to be aware of how digital gold transactions take place on mydigigold, where the gold is stored and how cost-effective the investment is. In this article, we will break down the way on how to invest in 24K gold digitally on mydigigold.

Let’s take a look -

First of all, criteria one needs to follow to invest in mydigigold -

1. Any Indian resident with a valid pan card/Form 61 and a bank account in one’s name can enroll for My DG gold
2. Pan card or KYC document is mandatory in case of a single purchase of gold worth of 2,00,000 or more
3. The minimum quantity of purchase is 0.05 gm and the maximum amount of purchase is 10 lac per transaction

Buying digital gold on mydigigold mobile application is very easy. Here’s how you do it -

1. Open the mydigigold app on your mobile phone and register with your mobile no
2. Click on ‘Buy’ option and enter the amount or quantity of gold you wish to buy
3. After you get redirected to the payment option click on your preferable payment option like UPI, Credit or Debit Card, Net Banking or from your Paytm / Airtel Money / Mobikwik wallet and complete the purchase.

After the transaction an online statement will be available at all times and you can view it by clicking on the portfolio statement link. And you can sell your purchased gold only after 2 working days of your purchase.