Gold has been a valuable asset for centuries, a store of wealth and a hedge against inflation and economic uncertainty. The precious metal has played a central role in India’s culture, with every auspicious occasion being marked by purchasing gold. The significance of gold ranges from being a mode of payment, status of wealth as well as a pivotal instrument in innumerable rituals. Even in Tier II and Tier III cities, there is a sense of deep-rooted affinity for gold, where it is considered to be a secure investment in the form of jewellery. In a research conducted by Statista, it was found that the demand for gold across India was about 797.3 metric tons in 2021, which depicted an overall increase of 78.6% in comparison to the previous year.
With transformation in technology and a shift towards all things digital, in this new modern age, buying and selling gold online has become easier and more accessible. Thanks to the emergence of digital gold, this new form of investment has many benefits and is a great option for anyone looking to invest in gold.
What is Digital Gold?
Historically Gold has given an average of 11% growth year on year as compared to other investment options like MF, FD etc. Digital gold is a new form of investment that enables people to buy, sell and store gold online, without having a need for tangibility involved in the process. Instead of dealing with physical gold, investor’s digital gold purchases is backed by physical gold held in secure vaults. This means that the value of digital gold is directly linked to the price of gold, providing the same investment benefits as physical gold. The process is simple and convenient, and transactions are completed in just a few clicks.
With purchase of per unit of the digital gold by an investor, the purchase is backed by 99.9% 24K pure gold, delivering surety of purity at every purchase. These investments can start with an amount as low as Rs 100, making it an affordable yet stable investment for all, available through a click digitally. For selling the gold, the sale also happens in the digital marketplace at the current price of physical gold. Another important benefit of investing in gold online is that it is digital, hence does not have a making charge markup. Additionally, the hassle and deposits that come with renting a locker in a bank is completely eliminated.
Benefits of Digital Gold
There are several benefits of investing in digital gold. Here are some of the top advantages:
Protection from market volatility:
As with any other investment, the value of digital gold can go up or down. Nonetheless, historically, gold have proven to be one of the investments to give the maximum returns. Hence, for long-term digital gold investment is a solid investment.
Quality Assurance:
By investing in digital gold, the purchase is equated to 24k, 99.9% pure gold, delivering quality with every purchase.
Affordability:
The biggest challenge while investing in gold is the price for 1 gram gold coin + making charges. However, digital gold gives an individual the opportunity to invest small amounts of money, as low as Rs. 1, making it an affordable investment option for most.
Inflation hedge:
Digital gold can also be a good way to protect the assets from inflation. Since the value of gold typically rises with inflation, investing in digital gold can help growing the investment value.
Ease of trading:
One of the benefits of digital gold is that it is easy to trade. Buying and selling digital gold is as easy as securities, making it a convenient option for those who want to invest in gold. What makes digital gold a lucrative investment option is that it works on real-time rates, giving the investor a clear picture and market assurance.
Accessibility:
Another benefit of digital gold is that it is easily accessible through digital marketplaces. You can access it from anywhere in the world, making it a convenient option for investors to buy it from the comforts and safety of their home, without having to explore physical sellers.
Ease of storage:
Digital gold investments are stored in a secure encrypted digital vault, without requiring an additional cost or physical storage. The liability of safety lies at the trader’s end.
Easy Redemption and Selling:
One can easily, at any given time, choose to convert their digital gold investments to physical gold or sell the investment at the market price.
Who Should Invest in Digital Gold?
Any individual who would prefer to invest in gold but due to the high investment or heavy storage requirement for physical gold, is unable in doing so can seamlessly invest in digital gold. Investment in digital gold can start as low as Rs. 1; and transactions from mobile phones makes gold easily accessible to everyone.
Why Invest in Digital Gold with Jify?
At Jify, we believe that digital gold is the future of investing. With a mission of empowering the Indian employed workforce through financial wellness, we are committed to making it easier for people to invest in various financial tools. Gold, being a standard investment choice by the majority of the country is a convenient and secure option; with digital gold it is possible to start small investments in gold; one-step at a time. With this in mind, Jify has tied up with Augmont Gold Ltd., a Government Certified Gold provider, in order to make 24K digital gold with 99.9% purity easily accessible.
In conclusion, digital gold makes for a great investment tool. Whether you are a seasoned investor or just starting out, digital gold offers a secure way to invest in one of the most valuable assets in the world. So, why wait? Start investing in digital gold today and take control of your financial future!
