Digital Gold For The Digital Generation

Digital Gold… Are you familiar with this term?

If you’re reading this, and are from India, then there’s a high chance that you know what the value of gold is.

For Indians, gold is more than just an investment; it also has a legacy that no other precious metal does. In addition to serving as a great hedge, buying gold is frequently connected with good fortune, whether it is during the holiday season, at weddings, or for any other special occasion.

Gold has long been a popular investment option, and the yellow metal continues to be one of the nation’s most widely held asset classes. There are other ways to invest in yellow metal besides buying actual gold. The boom of the digital revolution has recently spread to the gold market, creating a new type of investment known as “Digital Gold.” In India, the idea of digital gold is still relatively new.

What is Digital Gold?

For those who prefer to accumulate the yellow metal in physical form, digital gold is a practical and affordable option. You may purchase, sell, and accumulate pure gold in fractions whenever and anywhere you want with “Digital Gold.”

Therefore, one can purchase a given amount of gold for as little as INR 1. The investing community is quickly adopting digital gold due to the simplicity it offers to the buyer. In India, Augmont, is offering the option of investing in digital gold.

Where is your digital gold stored? What about their insurance?

-The equivalent physical units of purchased digital gold/silver are safely preserved and stored safely in the vault of Sequel, the service which is utilized by various banks in India and also by various Asset Management Companies (AMCs) for their Gold-ETFs.

-If the quality of the gold concerns you, you may have peace of mind knowing that it has undergone a number of tests based on different quality criteria before being permitted into the vault. As a result, if you choose to sell a certain quantity of gold from your account, the precise amount will be taken out of your vault.

-The bullions stored in the vaults are also covered via insurance.

-There are no additional charges for storage.

Should you invest in digital gold?

It is perfect for people who desire both the advantages of gold investment and the simplicity of taking physical delivery. The second-largest buyers of actual gold worldwide are Indians. In addition to using it as jewelry, we also utilize it as gifts and as a crucial component of every household’s assets. For individuals looking to amass gold with the potential for delivery, digital gold is a secure, practical, and hassle-free choice.

Digital gold is being offered by the biggest digital platforms in the nation, including e-commerce portals, wealth management channels, banking apps, and FinMapp. As of now, more than 100 million people possess digital gold.

FAQs

Can you actually receive the physical form of gold?

You can ask for delivery of the gold and silver you’ve bought in the shape of coins, bars, or jewelry, and they will be brought to your door. By choosing from a variety of items and paying a small making and delivery fee, the consumer can request delivery. One might ask for coins made of gold and silver that weigh as little as 0.1 grams of gold and 1 gram of silver.

Are there any additional charges involved in getting the gold/silver delivered?

A minimum making and delivery cost will be incurred for requesting a delivery.

How do we know whether the gold received maintains the same quality as committed?

The quality of the products delivered is hallmarked by a government-approved hallmarking agency as per the Bureau of Indian Standards (BIS) guidelines.

Is there any additional amount levied while buying the Gold/Silver?

The prices quoted are exclusive of GST and other applicable taxes, which will be incurred at the time of checkout.

Can we sell the digital gold online? What are the additional charges imposed?

You can sell the digital gold directly via our app to our partner at prevailing market rates which get updated every 5 minutes. There are no additional charges.

The settlement will be done directly in your registered bank account within 3 days.

How is it different from gold funds and gold ETFs?

Digital Gold differs from ETFs and Gold funds in important ways such as purity, ease, and liquidity. It’s just as simple to buy digital gold online as it is to buy food or clothing. It can be purchased online, kept in secured vaults on the customer’s behalf, and paid for with a variety of mobile e-wallets, UPI IDs, or banks.