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Investing in Digital Gold: The Next-Gen Alternative to Physical Gold

By HARSH AGARWAL

20th May 2022

2 mins read

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Try taking a 10 rupee note to your Jeweller and ask him to “pack” some gold; you will, of course, be laughed out of the store. With Digital Gold, however? Not a chance. Digital Gold comes with numerous added advantages that your Jeweller will almost certainly not provide. Let’s take a deeper look.

How Digital Gold works

In the 21st century, we are so dependent on the Digital medium that Gold, too, was forced to adopt this modern avatar. The precious metal that has been around for centuries can now be bought online without worrying about any of the risks associated with Physical Gold. This is possible with the help of 3 entities that allow this facility, Augmont Goldtech, Digital Gold India (SafeGold) and  MMTC PAMP. Companies like Paytm, Google Pay and Spenny collaborate with these companies to provide you with Digital Gold. The companies offer Digital Gold, 24 karats 999 Gold, the purest Gold available. This digital Gold is safely stored in Vaults, which are also 100% insured. All this enables you as a consumer to safely invest your money in Gold without worrying about the factors such as Storage of Gold, purity of Gold, making charges, etc.

How to Invest in Digital Gold

Now let's help you understand how to invest in Digital Gold. The process is very seamless and convenient;

  • Log in to the platform of your choice, such as Spenny, Paytm, etc.
  • Decide the amount of Gold you want to buy in grams or rupees
  • And move on to complete the payment with multiple payment options

How does Spenny helps you invest in Digital Gold?

We are a new-age fintech company making investing simple and automated, and we round up the spare change from your everyday transactions and invest it into Digital Gold automatically. So on your next pizza order worth ₹395, ₹ five gets rounded up and invested in Gold!

Why should you invest in Gold?

Gold is a globally recognised asset that hedge against Inflation and economic volatility. Gold is still widely used since every government has gold reserves, and there are Gold ETFs, Gold bonds. All of this makes Gold an ideal investment which also helps in diversification. In the long term, Gold also provides positive returns with little risk.

This is all you need to know about Digital Gold. It took you 2 minutes to read this, but it will take less than 51 seconds to set up an account with us and begin investing in Digital Gold. See you another time for another blog.


FAQs

Q. What are the charges associated with buying Digital Gold?

Digital Gold doesn't have any costs apart from a GST (Goods-Services Tax) of 3% on the purchase of Physical Gold and Digital Gold.

Q. Can I get my Digital Gold delivered physically to my doorstep?

Yes, that is possible. Our partners at Augmont can help you convert your Digital Gold into Coins, Bars, etc and deliver it to your doorstep, after charging a nominal making and delivery fee.

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Copyright 2021 Spenny Fintech Pvt. Ltd.
Made with ❤️ in India