Why Should You Go for Digital Gold this Dhanteras?

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  • November 2, 2021
Why Should You Go for Digital Gold this Dhanteras?

It is that time of the year when people in the market are in a buying frenzy. Household appliances, utensils, vehicles, electronic gadgets, you name it! But what stands out is the rush to buy gold on the day of dhanteras. Dhanterasis the day when the goddess of ‘dhan’ or wealth, Shri Lakhsmi is worshipped and hence, is considered extremely auspicious. As a result, dhanteras is marked by the rise in demand for the yellow metal as gold is believed to be a symbol of luck and abundance. 

That said, we know buying gold on dhanteras is an expensive affair as the prices are on the rise due to the increased demand. Don’t worry we are not advising against buying gold. Rather buy gold with a modern twist by considering buying digital gold this dhanteras instead of gold jewelry.  So what is digital gold? It is just like physical gold which can be bought on digital platforms and is stored in insured vaults by its sellers on behalf of the buyers.

Why Should You Buy Digital Gold Instead of Gold Jewellery?

Reasons why buying  E-gold is the best digital gold investment in dhanteras.

  • Budget-Friendly:

Buying gold jewelry isusually expensive, more so in the festive season, making it unaffordable for many. Opposed to that, Digital Gold is within everyone’s reach. Unlike physical gold, digital gold can be purchased with small investments as low as Rs 100 as there is no minimum purchase limit.

  •  Pay exclusively for Gold:

 When you buy digital gold you exclusively pay for gold and not the additional metals and gemstones as in the case with traditional jewelry.

  • Avoid the brunt of ‘making charges’:

Another advantage with digital gold is that it involves zero ‘making charges’. On the other hand, ‘making charges’ which are around 6 to 14% of the price of gold, increase the cost of buying traditional gold.

  • Quality is assured:

When buying digital gold, investors don’t have to worry about the purity of the gold as each unit of digital gold is backed by 24K 99.9% purity gold, However, physical gold’s purity cannot be guaranteed. 

  • Safe investment:

One of the biggest disadvantages of buying physical gold is that it involves the risk of being stolen or lost.  As opposed to that, digital gold assets are insured and securely deposited in a vault. 

  • Free Storage:

To protect your physical gold from being stolen, you store it in bank vaults which involves paying expensive locker fees. But if you buy digital gold this dhanteras, you won’t have to worry about this. Since digital gold is purchased on an online platform and stored in a digital account, it does not require safekeeping on the buyer’s end. 

  • Avoid Market Risks-

    Gold has always been known to be a  safe investment that provides a hedge against inflation. This is why people have always been attracted to gold investment. With digital gold as well, you can know that you will have a nice cushion if things go a little downhill.

  • Maintenance of the Metal-

    When you buy the physical metal, it is on you to look after its condition and make sure that it does not get damaged or rusted. This is not something you will have to worry about if you buy digital gold these dhanteras.

  • The Ease of buying and selling:

    Digital gold can be bought from multiple apps and websites anytime at your leisure. The redemption process of digital gold is also very quick and easy. Investors can redeem it in physical gold coins or cash it out without any difficulty. You do not need to visit a jeweler or is usually save the gold purchase receipt for making a selling transaction. It also gives you flexibility as there are several ways to invest in digital gold. 

  • Transparency

    : The purchase and sale happen online at market prices. Hence ensuring complete transparency in the transaction. This is just one of the many reasons why you should buy digital gold this dhanteras.

  • Price Uniformity:

    Physical gold prices are not uniform, whereas digital gold prices are the same across the country.

  • Keep track of investments:

    When you invest in digital gold, it is much easier to keep track of investments through online platforms.  Since these platforms reflect real-timechanges in prices, the buyers can use the price change as an opportunity and invest accordingly.

Conclusion 

If you wish to buy gold, go ahead and buy digital gold for dhanteras. It has multiple advantages over buying traditional gold. It is a more budget-friendly and cost-effective way of investing in gold. Add to that the fact that it is safer, easy to store, and convenient to buy and sell. Buying and selling digital gold on online platforms ensures transparency and gives investors a way to capture price movement and get gold at a better average purchase rate. All this makes digital gold more lucrative in the eyes of a buyer.

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