Why should you consider buying digital gold?
Buying gold has always been an important decision in an Indian household. With passing time, the importance of buying gold has not reduced. However, digital alternatives to buying physical gold have emerged over the past few years. Digital gold may simply be defined as holding the precious metal in digital form. Digital gold is bought online, and the seller stores the gold in insured vaults in the name of the investor.
What exactly is digital gold?
Digital gold does away with the hassles of checking purity, storage or paying for making charges that are all a part of buying gold in a traditional way or in physical form. This is where the benefits of digital gold come into play. The process of buying digital gold is transparent. If you have digital gold, 24-carat gold can be traded at market price, fully redeemable whenever you choose. For a working professional, managing personal finance is critical. Investing in digital gold is a step in this direction.
Gold is an investment that has no direct correlation with the stock market. Hence, it provides relatively more stability than other assets. Studies say, since 1973, the prices of gold have increased at the rate of 14.1 percent in INR on average annually. Digital gold benefits the investor by allowing them to buy gold but reduce worries of secured storage.
Why should you invest in digital gold?
The Covid-19 pandemic has caused havoc in our lives and has impacted the economy like never before. Gold prices, however, have shown a steep rise during this period. This makes investment in digital gold a very good option to hedge against inflation. Here are some of the reasons why you should consider buying digital gold:
- You can start investing in digital gold in small units, starting from Re. 1
- Online loans accept digital gold as collateral
- Purity of 24 karats is guaranteed in digital gold
- You can also avail doorstep delivery of gold in case of digital gold, if a need arises
- While you hold Digital gold, its physical back-up is stored safely in fully insured vaults; hence, it is secured
- Investor does not incur any cost on account of storage for a specified duration
- Digital gold is bought and sold at market price, which is uniform nationally; the same may be redeemed immediately in case of an emergency
- Digital gold price is aligned with market changes in real-time. The investor may take advantage of the same and optimise benefits by availing the latest rates
Consider buying digital gold under proper guidance
While you are busy earning money, getting down to managing your finances might appear to be a little difficult. Many a times, you realise it is too late in the day for you to grow your wealth the way you aspired to. You need professional guidance. For this, you can reach out to goal-based investment advisory platforms that can help you craft a financial plan to reach your financial goals through appropriate investments.
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