Reasons to invest in digital gold
Table of Contents
Since time immemorial, gold has been considered a favourite metal amongst Indians. In fact, India has also been regarded as the second-largest consumer of gold in the world. From being passed on from one generation to another to using it on every auspicious occasion, the importance of gold cannot be much emphasised. Moreover, gold is also a popular investment option as it yields great returns in the long run. Gold investment can be done by either buying physical gold or even through digital gold options. With time, most things have become digitized and so is the gold investment. So, let us walk you through some of the key reasons why you should consider investing in digital gold.
Top Reasons To Invest In Digital Gold
There is no denying that physical gold is a popular way of investment, but on the other hand, digital gold is also gaining popularity. As an alternative to physical gold, digital gold can be easily purchased as well as stored easily. Some of the popular options for investing in digital gold are Sovereign gold bond schemes, Gold ETFs, etc. You can easily pick a preferred option and enjoy the benefits of investing in digital gold.
Listed below are some of the reasons why you should consider investing in digital gold:
- Offers top-notch security: As compared to physical gold, digital gold poses no problem with storage. It is digitally stored and thus you need not worry about its safety as well as storage. As you are free from storing gold, you also get free from buying a safety or bank lockers to store gold, thus your money is also saved.
- Can be used as collateral: You can also use digital gold as collateral and to obtain loans. Many money lenders use digital gold for lending money as the same requires little paperwork. Moreover, the process of getting loans against digital gold is also quite hassle-free.
- Ease of purchase: In comparison to physical gold, digital gold can be easily purchased. You need not visit any store and thus easily buy digital gold from anywhere and anytime. However, make sure to verify the source from which you are purchasing so that there is no confusion in the future.
- Affordable option: When you are buying physical gold, you also need to pay making charges along with the cost of gold per gram. However, this is not the case with digital gold as there is no manufacturing cost involved. Furthermore, there is no lower limit when you are investing in digital gold, and thus becomes pocket-friendly for all.
- Guaranteed Purity: The purity of gold jewellery is measured in karats. When buying physical gold, one often takes into account its purity. On the other hand, when you decide to buy digital gold, then stay assured that the purity will never be compromised as digital gold is 99.9% pure. The chances of fraud when buying digital gold are also quite low.
Take Away
Thus, in a nutshell, it can be said that investing in digital gold is a great option, especially for those who prefer enjoying investment benefits from the comfort of their home. However, before making a final decision, it is important that you first decide which type of digital gold you wish to purchase based on your budget and requirements and accordingly proceed with the purchase.
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