How to Find the Best Platform to Buy Digital Gold and Silver?
The market of precious metals is booming with platforms where you can buy digital gold and silver. But can you invest such a big amount of money in buying such precious metals from just another platform? Don’t you think you should probably leverage the offers against each other and find out the best? We believe that you deserve to explore multiple platforms selling digital gold and silver and know what to look for when choosing one of them. So, here we have put up a short guide to help you solve this mystery and invest your money only in gold and silver only with the best platform out of all of them.
Things to Consider While Choosing the Best Platform to Buy Digital Gold and Silver
Here are some of the most important factors that you should consider while buying digital gold and silver from a company.
High Security: Best Platform to Buy Digital Gold and Silver
When it comes to gold and silver-based assets, the most important concern is their security. Therefore, when looking for the right platform to buy digital gold and silver, consider their security measures. How do they plan to keep your assets safe from thefts? What is the security feature that they are using? Are they storing your gold and silver assets in insured vaults? Make sure that you ask yourself these questions.
Low Transaction Fee
Next, you are going to buy and sell your digital assets every now and then, depending on your needs and circumstances. So, you definitely don’t want to invest with a company that has a very high transaction fee, which when added overtime against multiple transactions will be almost equal to the money you have invested. Therefore, always look for a platform that incurs a transaction fee lower than 0.5 to 1%.
No Storage Fee: Best Platform to Buy Digital Gold and Silver
Now, if you had to pay a storage fee in the first place, what would have been the whole point of investing in digital gold and silver instead of their physical form? This is because you anyways have to pay an annual fee for bank lockers that you use to store physical gold and silver assets. So, while buying digital gold and silver from a platform that doesn’t charge any storage fee.
Gold and silver are considered the best gift items for friends and relatives. But what if your friends and relatives are based out of India? How are you going to send them silver and gold as gifts? With digital gold and silver, it is possible. However, not all the platforms allow you to send your gold and silver assets to your friends living overseas. Thus, you should look for the one that offers you international transfer services.
Ease of Payments: Best Platform to Buy Digital Gold and Silver
Now that the payments across the world are getting digitized and UPI payments are gaining control of the entire payments and investing outlook of the world, you need a platform that allows you to spend your money to buy gold and silver via UPI payments. But not all the platforms are offering UPI as one of the payment options. You may find internet banking as one of the payment options but you still have to log in to your internet banking account and go through the OTP process. On the other hand, UPI is a quicker and easier payment option as you just have to enter the pin and that is it.
Gold and silver have always been seen as a great hedge against market downturns. Therefore, a lot of investors prefer investing in gold and silver on a frequent basis. Creating Auto-investment plans for digital gold and silver is not just a perfect way of accumulating a large quantity of metal over time, but also, it is a great way of making passive earnings. It is because the prices of gold and silver keep increasing over time. As SIPs are known to generate high profits over a long time, similarly AIPs for precious metals can generate significant profits in the long run. So, you should choose a platform that offers AIPs options to its users.
Quality of Gold and Silver
Since you can not look at the gold and silver that you are buying in real or feel them in between your hands to check the purity case of digital gold and silver, there is an added concern about the quality and purity of gold and silver you are buying. Hence, look for a platform that guarantees the purity of your gold to be 24 karats and silver to be 99.9%. You can ensure this by checking out the provisions for converting digital gold and silver into physical forms offered by the companies.
The Verdict: Best Platform to Buy Digital Gold and Silver
Considering the factors mentioned above, OroPocket has proven to be the best platform to buy digital gold and silver. It offers the lowest transaction fee of 0.25% as compared to its competitors like SafeGold, PayTM Gold, and OneGold which charge a transaction fee of 0.4%, 3%, and 3.99% respectively. Secondly, OroPocket offers complete 1:1 physical assets which are stored in vaults based in the UK, Switzerland, Singapore, and India. On the other hand, SafeGold doesn’t offer any insured vault storage facilities whereas PayTM has vaults based only in India. Thirdly, OroPocket is the only platform that allows you to send money through UPI and offer international transfer services.
How to Buy Digital Gold and Silver with OroPocket?
You can start investing in digital gold and silver and begin building wealth with OroPocket within five simple steps. Here’s how you can do it.
- Download the official OroPocket mobile application which is available to both iOS and Android users.
- Sign up on the OroPocket app with your email and mobile number. Enter the basic details like your name, age, address, etc.
- Then enter the amount of money that you want to invest or the amount of gold or silver that you want to buy.
- Select the preferred payment method like UPI, internet banking, debit card, etc.
- Complete the payment and you are done.
Investing in gold and silver has been made simple and easy with OroPocket. If you have started investing in gold and silver with OroPocket, we advise you to complete your Tier 1 and Tier 2 KYC verification to unlock all the options and services offered by the OroPocket application.