The digital Gold is though a new concept, but most common mobile wallets like Phonepe, Google Pay, Paytm, and Mobiwik has started offering digital Gold. It has many advantages, including purchasing it from home, no tension of its purity, storage, and security. It offers you a one-time cost for safety and storage which depends on the particular platform. No regulatory mechanism which makes the product to be misused. The custody of digital Gold is central, and the provider committed to buyback the Gold.

The list of the sellers of in India

  1. Digital Gold India Pvt. Ltd. offers a product name “Safegold.” It is backed by Private Equity Funds, and the WGC has a small share in Digital Gold India.

To purchase SafeGold, you can reach to-

  • ICICI Bank
  • Paisabazaar
  1. MMTC-PAMP India Pvt. Ltd. It is a Government of India initiative. A joint venture between Metals and Minerals Trading Corporation and Switzerland based MKS PAMP.

To purchase under this platform, you can reach to-

  • Motilal Oswal Financial Services Ltd.
  • Stock Holding Corporation of India Ltd
  • Paytm

IDBI Trusteeship Services Ltd is the trustee of MMTC-PAMP and Digital Gold India. It ensures the quality of the offered Gold, the Gold sold to investors, and accumulated Gold in the buyers’ vault. It is IDBI Trusteeship Services Ltd that ensures the assets held by the buyer in the vault.

To invest in Digital gold, you will have to follow these steps.

Investment is made through the following three stages.

  1. Registration: Being an investor, you will require to register with the distributor and complete your KYC work. The offered product is always 24Kgold. You get this confirmation from vendors or issuers. At this stage, vendors appoint distributors to give you an online platform to purchase the product.
  2. Accumulation: At this stage, you shall log into your account and choose the quantity to buy. Here you must check the rates before you execute the final order. The rates of digital Gold are dependent on the international price of Gold. This cost is a total of the transaction, insurance, and storage. Once the order is confirmed, you can pay online. You can accumulate purchased Gold in your vault.
  3. Redemption: At this stage, you can choose to sell the purchased holdings. You can check the price and execute your order. You can also opt for the physical delivery of Gold in the assigned coin weights. In this stage, you will require to pay the cost of despatch and minting.

Conclusion

In conclusion, investing in digital gold is the easiest and secure way to diversify your investment portfolio. It also helps you to fight against inflation. Being an investor, you shall check the history of the distributor and issuer. You can start investing from as low as INR 1 and no maximum limit. But it depends on the distributor and issuer.

Although there are many online platforms were available for investing in digital gold. But Oropocket provides you an exclusive platform for wealth creation, where you can invest in silver as well along with gold. In addition, you can also learn more about Oropocket over our YouTube channel

Do subscribe OroPocket YouTube Channel for latest video and update: https://www.youtube.com/channel/UCg0P-Weto2bGBXq2rGUAefw

Check out our previous blogs and announcement https://blog.oropocket.com

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