How to Invest in Silver Online?
Silver has been used as currency and metal of great value for making jewelry and other decorative items for times immemorial. Compared to gold, Investing in silver is a more affordable investment option. An investment in silver offers a decent ROI. In addition to ornamental value, silver has several industrial applications, like solar panels, computers, mobile phones, etc. No metal or material has been able to silver in these applications.
What is Digital Silver?
An innovation of the National Spot Exchange, digital silver or e-silver, is an affordable option for small investors who cannot make huge investments. Digital silver allows people to invest in silver online and hold their investment in a Demat form.
Benefits of Investing in Digital Silver
Earlier, people used to invest in silver in the form of bullions, coins, or jewelry. Recently, National Spot Exchange has introduced a new way of silver investment, called digital silver. So, if you are looking for details on how to invest in silver, then read on.
Digital silver offers the following benefits to the investors:
Assured Price and Purity
While buying physical silver, the price and purity are always a question mark. But digital silver comes with an assurance of 99.9% purity. Also, unlike physical silver, the prices of digital silver remain uniform across the country. This way, an investor gets complete peace of mind while making a silver investment.
No Risk Related to Safe Storage
Physical silver comes in various forms like bars, bullions, or coins. These silver investments require secure storage. They always run a risk of getting lost or stolen. Digital silver, on the other hand, is kept securely by the financial entity in digital vaults, which are 100% safe and secure. The investors do not have to pay any amount towards the safe storage of digital silver.
Flexibility to Make Small Investments
Though silver is more affordable than gold, it is even better to buy it digitally. One can make a silver investment as low as INR 1 and buy digital silver worth that amount. So, if you are a small investor and wondering how to invest in silver online, then digital silver is your way to go.
Easy and Quick Redemption
When you buy physical silver from a jeweller, you get a price lower than the live market price for that day. But in the case of digital silver, the entire process is very transparent. Whenever you decide to sell your silver investment, the financial entity buys it at the live market price. Then, it deposits the money in your account immediately after deducting a nominal transaction fee. Not only that, if required, you may get your digital silver converted into physical silver and deliver it at your doorstep for a small delivery fee.
Track Investment Easily and Regularly
Digital silver is traded on the commodities exchange. So, investors can track their performance using mobile apps and websites that show the value of their investment on a real-time basis. Investors can take advantage of price movements and buy and sell silver easily as per the market conditions.
Contactless and Hygienic
Owing to covid restrictions, many investors are wary of buying physical silver. Digital silver does not involve touching anything, so there are no chances of contracting the virus. This way, digital silver is not only profitable but also medically safe.
How to Invest in Silver Online?
Launched recently by National Spot Exchange, one can invest in digital silver or e-silver and hold their purchase in a demat form. Digital silver can be bought from the trading platform of NSE, which employees and franchises of NSEL can access. In addition, one can invest in digital silver through financial platforms like OroPocket. To invest in digital silver, investors need to have depositary accounts.
10 Rules for Silver Investment in India
So, you are looking for investing in silver. Below are 10 rules that will help you decide how to invest in silver online.
Start with Small Investments
When starting, start small. That’s rule no. 1 for making a silver investment. As a beginner, one may not have complete knowledge regarding risk factors and associated returns. So, it is advisable to take baby steps. Start with small investments, and as you grow in confidence and experience, you may gradually increase your transaction value.
Avoid Investing in Decorative Silver
While investing in silver, never go for decorative silver coins or jewellery. These items carry a huge premium, and their value goes down when you sell them. On the other hand, when you invest in silver online in bars or coins, or still better in digital silver with OroPocket, you don’t pay any premium over the actual metal value.
Better to Ask Experts
Before making a silver investment, one shouldavoid going solo and take guidance from a broker or an advisor. These financial experts can guide you better about the market and when and where to invest.
Go for Bank Lockers
While making silver investments, always give priority to the safety factor. Select a bank locker to safeguard your silver investment. Your investment will be under the bank’s custody, and you can sleep peacefully at your home.
Maintain an Inventory
If you do not want to hire a bank locker, ensure to store the silver in a safe place inside your home. The place should be such that it is not known to others, but you have easy access to it in case of an emergency.
Online Commodity Market
If you don’t have a safe place to store physical silver and don’t want to go for a bank locker, you can go for the option like investing silver in the commodity market. You need to get in touch with a broker, open an account, and buy silver contracts online. It gives you the flexibility to sell your holding when you see a profit before the expiry date.
Buy From a Reputed Supplier
You should always visit a reliable source while making a silver investment. Buy silver from a reputed jeweller where you get a guarantee of price and purity. A better way is to buy digital silver through OroPocket, where you get silver of the highest purity at the right price.
Do Proper Research About Market Price
Before making a silver investment, one should visit different websites, mobile apps, read newspapers, speak to experts to get a better idea about the silver price. This proper research is a must-do exercise for every investor. This will save you from any losses investment.
Don’t Be Over-greedy
When you think of silver investments, you may have planned a long-term investment. However, if you notice a price hike in between, it would be wise to sell your holding and make a profit.
Maintain a Cash Reserve
Never block your entire savings into one place. Always have some funds emergency. For emergencies, keep some amount of money. Commodities like gold and silver are volatile and may be subjected to huge market fluctuations due to global factors. Maintaining a cash reserve will help you maintain liquidity and buy more silver if the prices drop significantly.
Invest in Digital Silver with OroPocket
When planning to invest in digital silver, you should definitely consider OroPocket. Unlike traditional banks, OroPocket offers a 100% asset-backed banking facility without hidden storage or insurance charges.
Investing in digital gold with OroPocket has several high-grade benefits. Some of these benefits are listed below:
- With OroPocket, the overall transaction is quick and transparent. One just needs to create a free account on the OroPocket mobile app. As soon as the KYC is completed, you are good to go.
- With OroPocket, one can buy digital silver even in fractional amounts. The minimum possible investment with OroPocket is Rs 1.
- The digital silver that you invest in OroPocket comes with an assurance of 99.9% purity.
- There are no hidden charges in OroPocket. The only fee charged is the transaction fee on buying and selling, which is flat 0.25% of the transaction value.
- OroPocket keeps the physical silver safely and securely in digital vaults located in UK, Switzerland, Singapore and India. These vaults are 100% safe, secure, and insured.
- The company allows its vaults to be audited by third parties daily. Thus the investors get an assurance of physical backing of assets on a 1:1 basis.
- OroPocket invests in your name. Hence, the assets belong to you. So, even if the company goes under, your assets are safe.
- OroPocket is very customer-focused. Hence, whenever you have a query, you can contact us 24/7 through mail or chat. Not only this, OroPocket allows investors to track their holdings in real-time using the OroPocket app.
In modern times, people prefer safe and convenient ways of investment. So, investing in digital silver is better than physically buying silver. The above blog is aimed at giving you tips on how to invest in silver online.
So, if you are thinking about how to buy silver, don’t miss checking out on OroPocket – your one-stop platform to buy digital assets. Owing to its customer-friendly policies, OroPocket has become the preferred choice of smart investors. It offers complete transparency in its dealings. The transaction with OroPocket is seamless and error-free. Looking at all the benefits, one can safely say that investing digitally with OroPocket is undoubtedly the smartest choice in this fast-changing world!
Frequently Asked Questions:
Q1: Can I invest in silver online?
Ans: Yes, you can buy digital silver and make a silver investment online.
Q2: Can I buy silver ETF India?
Ans: Yes, you can buy silver ETF through financial platforms.
Q3: Is silver a good investment in 2022?
Ans: The demand for silver is ever-expanding. It is expected to go up to 1.09 billion ounces in 2022. This shows that silver will continue to be a good investment in 2022.
Q4: Is investing in silver a good idea?
Ans: Silver is not as expensive as gold but offers good returns on investment. Hence, investing in silver is a good idea.
Q5: Can I buy silver at OroPocket?
Ans: Yes, you can buy digital silver at OroPocket. Sign up here.
Q6: What is the rate of return on silver?
Ans: In the last ten years, silver has risen from a low point of $4.02 per ounce to its current level of $17.70, a 340.3% total return (16% average annual rate of return).
Q7: Is it easy to sell silver?
Ans: Selling physical silver is easy but selling digital silver is easier.
Q8: Is silver cheap?
Ans: Silver is also a precious metal but less expensive when compared with gold.