What Are The Ways To Buy Digital Gold. It is coming as an emerging trend for those who want to invest in gold for Investing. Investing in Digital Gold in today’s time is no less than Investing in any Physical gold jewelry or bar. Investing in digital gold is comparatively the smartest decision than Investing in physical gold. Investors who want to use their funds for a short period are also getting attracted to buying digital gold because purchasing digital gold is relatively more secure and stable, above all, it can provide a passive side income to an investor. However, there are quite some ways of purchasing Digital Gold. Let’s find out
The Ways To Buy Digital Gold:
The ways to buy Digital Gold are as follows:-
Sovereign Gold Bonds:
The Sovereign Gold Bonds are issued by the Reserve Bank of India on behalf of the government. They issued bonds in the form of tranches throughout the year. Each bond comprises 1 gram of gold, thus, it offers an option to the investor to invest in gold digitally. Additionally, these bonds have an interest rate of 2.5% per annum, which are paid semi-annual by the RBI. These bonds have a time duration of eight years and RBI provides a redemption option after the fifth year. If an investor wants to invest in the bonds he can buy them with help of the stock exchange because the prices in stock exchange are relatively at a discount rate from 3% to 5% as a result of low liquidity in the segment.
Exchange Traded Funds are usually a kind of mutual fund whose units can be purchased from the stock exchange. With ETFs, investors can invest in small quantities of gold. These are specifically designed for those investors who wish to buy gold in small quantities and store it in their Demat account. These are best for students who have small capital but still want to do Investment in gold.
Multi Commodity Exchange:-
MCX offers investors to invest in various commodities other than gold such as platinum and silver. Traders use this platform to protect their position in various commodities like gold. Under this, a metal can be traded as quantitative options like 1 gram, 100 gram, or 1kg units.
Digital Gold Wallets:-
Digital Gold Wallets are considered one of the easiest and most convenient ways of Investing in Digital Gold. In recent times many companies have introduced the system of Digital Gold Wallets including Heera Digital Gold, Phone pe, Google pay, and other platforms. An investor just needs to download the application on his/her smartphone and he/she can start Investing in digital gold as less as Rs 100. The application stores the money in the gold locker named MMTC-PAMP. Investors can buy or sell the gold anytime anywhere from their mobile phones. The best app for Investing in the digital gold wallet is the Heera Digital World app. The application provides some amazing features and discounts on the purchase of digital gold.