Key Highlights
- Buying gold on Dhanteras is considered auspicious
- You can invest in digital gold using digital payments apps
For many people, Dhanteras is one of the most auspicious occasions to purchase gold. While you can buy gold the traditional way at your local jewelry store, you might be interested in the idea of investing in digital gold.
With the ability to secure digital gold, you have additional security because, unlike physical gold, it cannot be stolen or misplaced. Gold is normally a secure investment. In comparison to other investment options, like cryptocurrencies, it is also safer. Dhanteras is a good time to invest in digital gold if you intend to do so.
How To Invest In Digital Gold?
In the digital age, there are many options to invest in gold. In addition to physical gold, investing in digital gold is a popular choice.
You have gold ETFs, gold bonds, and gold funds. There are also sovereign gold bonds, which are government-backed securities measured in grams of gold, where one gram is equal to one unit of a bond. Besides, you can invest in gold using digital payment apps, such as Paytm, PhonePe, and Google Pay. Using an app is a more convenient method, and this is how it works:
There are also government-backed gold bonds which are measured in grams of gold. A gram is one unit of a bond. You can also invest in gold with digital payment apps such as Google Pay and Paytm. Here’s how it works:
Google Pay Gold Locker
Step 1: On your device, open Google Pay.
Step 2: Scroll to the bottom of the app and find the Gold Locker option.
Step 3: You will see the screen showing you your portfolio which will likely be empty considering you are investing for the first time.
Step 4: Google Pay shows you the current gold price, including taxes.
Step 5: You can buy, sell and receive gold in the form of coins.
Google doesn’t let you buy digital gold by weight but if you enter an amount, it will show the relevant quantity of digital gold.
Paytm Gold
Paytm Gold is the name of its digital gold investing service. It is accessible from the app’s home screen. You can invest any amount, and Paytm will show you how much gold you can get for that exact amount. Additionally, you can examine the current gold rate for 24K gold.
After entering the desired amount, you can proceed to the gold payment. Portfolios are automatically created in Paytm Gold and can be tracked in the app. Paytm also allows you to convert your digital gold into physical.
