5 Ways How You Can Invest In Digital Gold Online


Gold is an evergreen investment option for Indians from many decades, especially for ladies it is a good way of putting their savings into a good cause. But the accumulation of physical god attracts various other problems like theft/burglary or fraud while selling gold etc. So to overcome this and make the gold as an investment option you can definitely opt for the Digital Gold option where you get all investment benefits of investing in gold with added security to your gold, as it is in digital form it can not be stolen.

Let's understand what is Digital Gold

What is Digital Gold?

Digital Gold as the name indicates it is virtual gold or e-gold. You can purchase digital gold online. It is the fastest, secure and convenient way to invest in 24K gold online. The gold purchase online using this way is backed by an equivalent physical gold. The rate is linked with market rates. You can buy, sell and accumulate pure gold in fraction denomination using this method anytime, anywhere. The amount invested, and the volume of gold is visible online in the user account.

Why Invest in Digital Gold?

Digital Gold offers multiple benefits. Few reasons for preferring digital gold over physical gold are given below.
  1. No Making Charges – When you purchase physical gold, you opt for jewellery. You need to pay making charges for jewellery. The making charges are 6 to 14%. You need not to pay any making charges while buying a digital gold.
  2. Surety of Purity – Your purchase in the digital gold is backed by equivalent physical gold with a purity of 24K 99.5% purity.
  3. No Storage hassles – Physical gold requires storage. It may require a locker arrangement in the bank. However, when it comes to digital gold, you need not to worry about storage.
  4. Easy Trading – It is very difficult to do trading in physical gold. However, you can easily buy and sell digital gold online with a click of a button.
  5. Converting Gold to Cash – You can easily sell these type of Gold Online and convert it into cash. Once gold is sold the entire amount will be transferred to your registered bank account in a few hours. But to liquidate physical gold you need to visit sellers place.

5 Digital Gold Purchase Options 

Here are 5 Digital Gold Purchase Options in no particular order.

1. Me-Gold

  • Me-Gold is gold investment platform by Motilal Oswal.
  • Me-Gold allows you to purchase gold online using the website/online trading platform.
  • Me-Gold offers 999.9 pure gold with a purity of 24k.
  • Under this scheme, gold is vaulted in 100% insured facility at MMTC, PAMP for free.
  • The smallest unit that can be purchased by Me-Gold is 0.5 grams.
  • This scheme is for five years. You need to compulsory sell or take physical delivery of gold.
  • 18 months of inactivity of Me-Gold account leads to deactivation of account.

2. Paytm

  • Paytm allows the customer to purchase gold using an online platform as well as using a mobile app.
  • Minimum gold purchase allowed using this platform is 0.0005 grams and a maximum of 50 grams.
  • Additional charges are applicable for custody after 5 years.
  • Option to send gold as a gift to your loved ones.
  • If you opt for delivery additional delivery and making charges are applicable.

3. PhonePe

  • PhonePe is a mobile app by the Flipkart. You can use this app for buying gold.
  • The minimum gold purchase allowed by PhonePe is 0.001 grams.
  • The maximum gold purchase allowed by PhonePe in a single day is Rs.49,999.
  • The purity of gold would be 99.5%.
  • Conversion of gold into coins/pendants starts from 1 gram. You will be required to pay delivery and making charges, as applicable.
  • The gold coin or pendant would be delivered in tamper proof packing.

4. Mobikwik

  • Mobikwik is an app that offers the facility of buying gold online.
  • On Mobikwik you can track gold price for the last 7 weeks.
  • You can buy gold up to a maximum of 30 grams. A non-kyc customer can also purchase gold and store it up to 15 grams.
  • Post sale of gold, money is transferred into your bank account via UPI, e-wallet on a real-time basis.
  • Processing charge is applicable when you buy gold via Mobikwik.
  • The purity of gold offered by this platform is 24k.
  • You can also convert this gold to physical gold and take delivery.

5. Paisa Bazaar

  • Paisa Bazaar also offers a platform for purchasing gold online.
  • The gold purchased via Paisa Bazaar can be seen easily on Gold Dashboard.
  • You can purchase gold at Paisa Bazaar with a small amount for Rs.100.
  • The amount of gold accumulated in your account is backed by the same amount of real gold stored in the insured vault.
  • For two years no fee applicable for stored gold. After two years minimal charges applicable.
  • No document required for buying, selling or holding gold.
  • Paisa Bazaar also offers Gold Saving Plan.

Choosing Investment Partner While Investing In Digital Gold

Few Important points of consideration before choosing your investment partner while investing in digital gold are given below.
  1. You should consider the reputation of the company offering the gold. The company should be reputed and should be back with a strong financial background.
  2. You should also check price tracking error and accuracy.
  3. Evaluate company for the applicable storing charges & maximum time period allowed for storing gold.
  4. Compare features offered by various providers.

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