Gold and Silver have been a mode of exchange and active for centuries. Countries like India have been using physical Gold for the exchange of goods and services.
Apart from being so popular among the traders and locals, it is also used as a hedge against inflation. India is the largest importer of Gold among the rest, and this yellow metal is indeed a symbol of prosperity and wealth.
However, physical Gold and Silver are subjected to various risks like legitimacy, purity, and many other challenges. Moreover, it becomes important to safeguard and secure this Gold from theft and robberies.
Things seemed quite well until the concept of digital Gold and Silver came into the limelight that changed the perspective of these Silver and Yellow metals. Well, Digital Gold and Silver has turned out to be the most efficient and trustful asset to buy. The market has experienced a sheer rise in digital Gold and Silver.
Investors have also found a soft corner for digital Gold and Silver and believe that this mode will be the future of the world. So what exactly is digital Gold and Silver? Let us see a quick go through.
Digital Gold and Silver
Digital Gold and Silver is a method to possess Gold or Silver through online mode. The seller safeguards your assets on behalf of you.
All you need is Mobile banking to buy and invest in Gold and Silver.
Since lockdown, the market has turned to be one of the preferred ways to invest in digital assets. Unlike the challenges faced while buying physical Gold, it ensures the safety, purity, and credibility of the assets you own.
Market Analysis and Performances of Digital Gold and Silver
- Everyone is inside their homes. That led to the shutting down of all the major Gold stores. Also, the sheer rise in the prices of physical Gold and Silver has created a sort of panic among the people.
- Several companies saw this as an opportunity to lead from the front by transmitting the idea of possession of Gold and Silver digitally.
- Moreover, companies have seen significant growth in digital Gold and Silver volume during festivals like Dhanteras and Diwali.
- PhonePe has witnessed 6-fold growth in the volume of digital assets. Also, giants like Paytm have experienced 86% of net sales and have claimed that it’s been surging like never before.
- Since it doesn’t bother where you belong from, it’s available for anyone. Firms like PhonePe, Paytm have revealed that most of the possession is from smaller towns and areas.
- MMTC–PAMP, a provider of Gold and Silver products, has said that digital Gold and Silver have made their way throughout every section of the society, recording 30% of transactions coming from Tier 2 and Tier 3 cities.
Also, Paytm has officially recorded 5000 kg of volume transactions till late 2020. And that says people’s reliability and trust in the digital market. Over 75 Million smiles have been made possible amid this pandemic. That is a milestone in itself.
According to Gaurav Mathur, Managing Director of SafeGold has clearly stated that “Since it seems the only choice during COVID-19, it’s quite surprising that the market has grown by 2.5x.“
Owing to assets and the movement from physical Gold and Silver to digital ones is quite visible and has become a trending thing for the last 2 years.
It doesn’t confine to some specific society or group, which is the strength of digital Gold and Silver.
OroPocket allows you to invest in GOLD and SILVER with as little as Rs. 1, giving you an upper hand on all those major drawbacks faced by physical GOLD and SILVER.
The odds are totally in favour of the digital market, and that makes a lot of sense to buy and invest in digital assets to keep yourself safe from problems like the recession.