April 27

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What are the pros and cons of investing in digital gold


 What is digital gold?

Gold is purchased through digital platforms that allow you to buy, sell and store digital gold online. It is a Demat format of gold that is stored in the form of digital data. It is linked to 24-carat physical gold available at secure vaults. You can buy and sell this digitally-held gold instantly with just a click of a button. All you need to do is just look up gold rate today in Haryana or whichever city you live in and then make the decision to purchase. Digital gold, also known as e-gold, is a term used to describe the ownership of physical gold in demat (dematerialised) form. It is nothing but holding physical gold in an electronic form, more like the dematerialisation of shares.

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How does it work?

  • Investor can take physical delivery of the gold at his doorstep
  • Invest an amount as small as Re 1
  • Can be used as collateral for online loans
  • The purity of digital gold is always on point
  • It is stored safely and is 100% insured
  • It can be easily exchanged with other forms of gold like bullion

How can you buy digital gold?

You can buy digital gold online through the E-Gold account on Paytm or the Stock Holding Corporation of India Limited (SHCIL). You can also purchase it from brokers, who will place your order with the company.

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To buy digital gold, you need to have an internet banking enabled bank account and you need to stay up todate with metrics like today gold rate Jamshedpur or Agra. You can visit Khatabook to learn about the things that affect gold prices. The amount that you wish to invest has to be transferred to the broker’s bank account. Once your payment is received, the broker will purchase digital gold on your behalf and send you an email confirming the transaction. Your purchased gold is instantly updated in your E-Gold account.

Why invest in digital gold?

Digital gold is the same as physical gold – 24 carats (99.5% pure). The only difference is that it can’t be held physically.

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Traditionally, people purchased physical gold for investment purposes or jewellery making. Physical gold is bulky and not easily transportable, which makes it difficult to exchange, sell or buy. Digital gold solves these problems. It eliminates the need to store physical gold in a safe place while making it easier to buy and sell with the click of a button. Moreover, it makes buying small units of gold possible, as you can buy even Re 1 worth of digital gold.

What are the benefits of investing in digital gold?

The beauty of investing in digital gold is that there is no fear of theft or misplacement since your asset is stored electronically and protected by a password.

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It enables paperless transactions, which are instant and transparent. You own your wealth and no one can take it away from you. You also have access to your entire transaction history anytime you want to see it.

Digital gold also has a wide range of other benefits compared to traditional physical investment vehicles such as dividend/interest payments, fixed deposits etc.,

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