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Any resident or non-resident Indian can purchase digital gold.

By Gautam Kumar

This Dhanteras, in case you are planning to purchase gold, you’ll be able to go for digital gold by shopping for it on-line and holding it in digital kind. Every time an investor buys digital gold, it’s backed by equal quantities of bodily gold. In India, digital gold is obtainable by AugmontGoldtech, MMTC-PAMP, Safegold and Inventory Holding Company of India Ltd. These days, digital gold can be purchased through fee aggregator apps or inventory brokers. They provide digital gold in affiliation with the above talked about gamers.

Why ought to one purchase digital gold?
One can purchase digital gold for as little as Rs 1. It additionally provides the pliability of accumulating gold via SIP to construct long-term wealth. In the event you maintain bodily gold, threat of theft at all times looms. It may be parked in financial institution lockers however comes with an extra value. Then again buyers don’t have to fret about safety of digital gold because the bodily gold, which digital gold is backed by, is secured within the vaults of suppliers and the onus of its safety fully lies with them. Nevertheless, as digital gold is backed by bodily gold, among the suppliers ask for storage prices however provided that you maintain it past a sure level of time. A few of them even supply free storage.

Digital gold suppliers appoint an impartial trustee which ensures an equal quantity of bodily gold in opposition to the digital gold of talked about high quality is stored secured within the vaults in any respect factors of time.

Who can purchase it?
Any resident or non-resident Indian can purchase digital gold. Shopping for may be very handy as KYC is required provided that one buys over and above the edge restrict. Digital gold might be offered again to the suppliers and buyers should not have to be depending on market contributors to promote their holdings. Therefore, liquidity threat shouldn’t be there. Buyers can promote their whole holdings of digital gold or half thereof at any time.

Buyers shouldn’t fear about purity in addition to it’s backed by 24-carat bodily gold with both 99.99% or 99.95% fineness. Digital gold can be transformed into bodily gold and delivered at your step. One may even convert digital gold into jewelry at jewellers partnered with digital gold suppliers.

The author is co-founder, pennywiseapp

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