How Digital Gold Investment Works?

You need to make your every purchase of digital gold as per the current digital gold price in India, the value of which will be added to your digital gold balance. To buy gold in grams or in Indian National Rupee (INR) the minimum limit is 1 gram and INR 1, respectively. You can buy digital gold from mobile e-wallets such as PhonePe, Paytm, SafeGold, Google Pay, MobiKwik and more. Read this post and find what is the importance of gold price when you do a digital gold investment.

Digital Gold Purchase

For a digital gold investment you need the following proof:-

• Identity:- Aadhaar card, voter id card, driving licence, PAN, etc. (any one of them)

• Address:- Passport copy, electricity bill, Aadhar card, telephone bill (any one of them)

• And Income:- Salary slip, bank statement, passbook copy, etc. (any one of them)

And before you do an investment, you should check the prevailing digital gold price and the names of the vendors.Once you do a digital gold investment, the equivalent amount of physical gold is securely stored under your name vault. And you can take delivery or exchange your gold whenever you want to. The gold will be removed from your vault in that scenario and delivered to your doorstep. But for this you need to have a minimum amount of digital gold in your account to make this possible, and this amount varies across platforms.

Exchange Digital Gold

You have the option to exchange your digital gold investment with cash, it will be sold back on the same platform at the current digital gold price and the money will be transferred to your registered bank account in the given time as defined by the service provider. For this you need to maintain the minimum quantity of gold in your account. This amount may vary from app to app.

The digital gold investment also provides a delivery service. As apart from your registered address, the delivery may also be available to some specific approved jewellers and distributor branches. All gold jewellery may not be available for exchange with digital gold. But make sure you check the partner jewellers before you buy or exchange your digital gold.

These apps and websites are a platform for you where you can do trading without any hassle. Some of the digital gold companies are SafeGold, MMTC PAMP, etc. who list and sell gold digitally.

Digital Gold Loan

Your digital gold investment can also be used as collateral for an instant online loan. Whenever there is an emergency, you can use your digital gold and borrow a loan without any hassle. This works the same as physical gold, but the benefits are much more in the digital gold investment. So when you are planning for your gold investment? If you do, check the digital gold price, compare offers and make your decision.

The aim of an investment is always to get benefit on maturity, and when the product of investment is gold, there will be no loss. As our elders said, as long as you have gold you are never poor. So make your digital investment and meet your goals.