For its aesthetic and cultural value, gold has been passed on from generation to generation as a symbol of legacy, security and fortune. Besides, gold has been an investment tool for decades as well, and this yellow metal continues to be one of the nation’s most widely held assets. But with the advent of digitization almost in every sphere, there comes a new and digital way of investment in gold too. Digital Gold! Yes, Digital gold is the most convenient way of virtual investment in the 24K gold without having to physically hold the gold.
For those who prefer to invest by accumulating this yellow metal, digital gold is a practical and affordable option with much more convenience and flexibility, where you can buy or sell 24K gold of 995 purity at live market rate anytime anywhere and have the gold redeemed at any point of time.
Why is Digital gold a sound investment?
- Secure Investment: When you buy gold digitally, equal worth of gold is backed up by physical gold and is secured by the vault, thereby ensuring investment’s security at all times.
- Purchase Gold in small amounts: You don’t need to invest in a lump sum unlike physical gold, digital gold allows you to invest in any amount you like.
- Access to live market price: While investing in digital gold, you have access to the live market rate without having to pay any extra charges.
- Easy Liquidity: While Gold as an investment instrument is preferred owing to the easy liquidity it offers, digital gold is even more liquid. You can sell or redeem it at the live market rate that is the same across the country.
- No Storage Cost: Digital gold allows you to store your purchased gold in a vault with no additional cost.
Where to Invest and how it works?
Now that you are aware of all the benefits of investing in digital gold, let’s take a look at where to buy it.
Online platform like mydigigold ensures lucrative deal of buying and selling digital gold from your own comfort zone with secure storage, safety and genuineness of the yellow metal you buy.
So, if you are looking for the answer to the question such as how this process takes place digitally, let us walk you through the whole process of investing in digital gold in this detailed guide.
First of all, criteria one needs to follow to invest in mydigigold -
- Any Indian resident with a valid pan card/Form 61 and a bank account in one’s name can enroll for My DG gold
- Pan card or KYC document is mandatory in case of a single purchase of gold worth of 2,00,000 or more
- The minimum quantity of purchase is 0.05 gm and the maximum amount of purchase is 10 lac per transaction
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.
Now buying and selling digital gold is easy and within everyone’s reach without much hassle and it takes only a few minutes to be done on mydigigold that offers you the best service of investing in digital gold with the comfort of your home.