What is Digital Gold? How it Works and Where to Buy it?
India’s love for gold is no secret. This precious metal has maintained its value throughout history and it is seen as a way to preserve wealth and pass it on from one generation to the next. Indians buy gold on various occasions and even gift to their loved ones. In India, gold is sometimes treated as ‘god’s currency’ and is believed to possess the power to purify anything it touches. This is the reason many people offer gold to deities in the temples. For ages, people have been investing in gold as a tool to hedge against inflation. However, in recent times, there is a shift towards buying digital gold as compared to physical gold.
What is Digital Gold?
Digital gold is a convenient and simple way to invest in gold without blocking too much money. One can invest as low as Rs. 100 and become a proud investor in the yellow metal. As soon as an investor makes an investment is made in digital gold, the company purchases an equivalent amount of physical gold in the name of the investor. The company also takes the responsibility of checking the purity of the gold. This gold is then stored in a secured vault in the name of the investor. The investor gets an assurance of an actual 24K physical gold. Whenever required, the investor can convert his digital gold into physical gold or sell it to get cash.
How Does Digital Gold Work?
To invest in digital gold, you may visit any trader or online platform that offers digital gold investments. Once you are at the office or online platform, you need to do the following:
• Decide the investment you want to make: You may decide to choose an amount in INR or decide the amount of gold you want to buy. This gives you the flexibility to buy gold worth the amount you want to invest or buy a certain amount of gold at the live market rate.
• Choose your mode of payment: Once your KYC is verified, you will get multiple options to make the payments. You may choose to pay through net banking, credit/debit card, or even use your e-wallet.
• Store your gold in a secured vault: The digital gold account is updated instantly, and the gold is stored safely. One can access this vault 24/7. The companies do not charge anything for keeping the gold in the secured vaults.
• Sell whenever you want: The investor can track the price of the investment online. And whenever required, the investor can sell the gold digitally itself to the platform and get the amount as per the live market rate.
• Take physical delivery of the gold: If the investor wants so, instead of selling the gold, he may convert digital gold into physical gold. The investor can pay a nominal delivery charge and get doorstep delivery of the gold in the form of coins or bullion. As soon as the investor decides to withdraw the investment, the gold is removed from the vault.
This way, digital gold offers the customers an easy way to invest in gold which gives assurance of purity and security of returns.
Where to Buy Digital Gold?
When it comes to sources from where you can buy digital gold, there are several trading platforms and mobile apps. However, OroPocket stands as a ‘face-in-the-crowd’ among all options. Buying digital gold is very simple. And when you are dealing with OroPocket, investing becomes even simpler and a unique experience.
Why Invest Through OroPocket?
OroPocket offers 100% asset-backed banking without any hidden charges, which traditional banks are known for. The process is quick and transparent. Still, looking for one reason to consider OroPocket? We can give you many. Given below are some reasons why you should consider OroPocket for investing your hard-earned money:
- With OroPocket, investing in digital gold is very simple. All you need to do is create a free account on the OroPocket mobile app. As soon as you complete your KYC, you are all good to start investing.
- OroPocket allows its customers to buy digital gold even in fractional amounts. So, one can invest with an amount as low as Re. 1 and become a proud owner of digital gold worth that amount. This is like a dream come true for small investors, who have budget constraints but want to invest in digital gold.
- OroPocket works with complete transparency as all its transactions are recorded on the Blockchain. This makes it easier for the investors to verify the integrity of their investment in an independent manner.
- With OroPocket, your assets are 100% safe, insured, and are backed by 1:1 physical assets stored in Vaults in UK, Switzerland, Singapore, and India. All the vaults are audited by third parties, on a daily basis. This ensures the 1:1 physical backing of the assets. The investments are made in your name only. The assets belong to you, and not the company. This means that even if the company goes under, your assets are safe.
- OroPocket is open 24/7 for its customers. Whenever you have any queries, you can create a ticket, drop an email, or still better have a chat with us.
- OroPocket does not involve any hidden charges on the transactions. OroPocket charges a flat fee of 0.25% for any buying or selling transaction carried out through them. There is no storage fee or insurance fee as charged by traditional banks. This makes OroPocket a pocket-friendly option. That’s the reason; OroPocket is fast becoming the preferred option for the smart investors of today.
- With OroPocket, one can invest in multiple asset categories and thereby diversify their portfolio. Customers can invest in digital gold, silver, and a lot more to grow their wealth, and get 100% liquidity at the same time.
For Indians, the love for gold will never fade away. This yellow metal is traditionally considered one of the most secured investment options. With the availability of Digital Gold investment these days and the presence of OroPocket, one can invest in the same and do not have to worry about the purity, making charges, storage, wastage, and liquidity. This has made the entire process safe and hassle-free.
So, if you are looking for effective investments and a satisfying customer experience, start investing with OroPocket today. Be an intelligent Investor & connect with OroPocket today.