Why is digital gold better than physical gold for investing ?
The new way to save in yellow metal is referred to as Digital Gold. People have been saving their hard-earned money in gold for centuries, but investing in physical gold comes with a slew of fees, taxes, and other drawbacks, which is why digital gold was created.
Thankfully, this is no longer the case! Gold investments are now available in a variety of formats, the most popular of which is digital gold.
Digital gold is an online gold savings account.
The below reasons state why digital Gold is better than Physical Gold ?
- You can start your Digital Gold Savings With as little as Re 1
- Digital gold is available in 24 karat gold with a purity of 99.99 percent.
- The redemption procedure is simple and straightforward. It can be done with gold coins or gold bars, depending on the customer’s preference.
- Loans can be secured with Digital Gold as collateral.
- It is safely deposited in the provider’s security vault, so there is no risk of theft or robbery.
- In the case of digital gold savings, online investment tracking is possible. Physical gold purchases are accompanied by paper receipts, making the transaction a difficult and time-consuming process.
- Diversifying your portfolio with gold savings is a good idea. Many successful investors understand the value of portfolio diversification in avoiding the risks that come with market volatility.
- The digital gold providers provide real-time gold rates, allowing investors to profit from price fluctuations and make any purchase or sale decisions.
Due to an increase in gold imports from other countries, the Indian government was forced to develop gold in digital format.
Reasons to avoid purchasing physical gold
- Physical gold investments are subject to making charges of 20 to 30%, as well as other fees.
- The fear of robbery and theft
- Physical gold storage is an additional cost that is recurring.
- There is no surety or guarantee that the gold is pure.
- Saving in physical gold necessitates a substantial sum of money. You can only save if you have the necessary funds on hand.
The increased physical gold investment will have a negative impact on the country’s economy. Let us team up and invest in digital gold.
