Can you tell me how I can invest in digital gold?
If you want to know my personal experience about how to invest in digital gold, here is what I do.
First, I pick a reliable platform such as PhonePe, Paytm, Google Pay or even Tanishq. For the first time, these apps will ask for registration. But no worries, the process is quick!
You just have to enter your PAN, DOB and other basic details for KYC. Once done, you can start investing in digital gold.
Then, you have options to invest either in rupee value or by weight in grams. The best part is, you can start with as little as ₹1 (may vary among platforms).
After the payment, the platform instantly adds that amount of 24K gold to your gold vault. Remember, this is not just numbers on a screen.
The custodian of the platform backs your investment with physical gold. Generally, they keep the gold securely in insured vaults. So, you need not worry about purity or storage. From there, I can:
- Track my holdings anytime on the app.
- Buy more when I feel like it.
- Sell instantly at live market rates.
- Even request home delivery of the gold if I ever want it physically.
What I like most is the flexibility, no lock-in period and quick transactions.
For me, digital gold investment feels like the perfect mix of traditional security and modern convenience. But, in my opinion, if you have at least ₹3,000 - ₹5,000 to invest, you can try gold ETFs.