Digital Gold

Is Digital Gold Good Investment – Who should invest in digital gold?

4 Mins read

With the growing interest of the young population to invest digitally, a new form of investment has risen, showing us all a ray of hope in the stock market area. Gold investments are the new in-trend investment category. Let us delve deeper into this aspect and see how Digital Gold investments work and whether digital gold is good investment

What is Digital Gold?
Digital gold is actually Gold which is bought online from a service provider. The service provider then allots physical gold to you and stores it in secured vaults. This process is audited regularly.

How to Invest in Digital Gold?

Until a few years ago, people used to invest in gold bars and gold coins by buying Gold physically when the prices are low and then selling them off whenever the prices are higher. The digital era has influenced this investment practice too. You no more need to buy physical Gold or visit a jewellery store in order to buy Gold.

Many platforms and investment companies are now providing Digital Gold open for everyone to buy Gold online and sell it online as per one’s preference. This is a revolutionary practice bringing a positive change.
How to buy digital gold online?

1. Download the app and sign up
2. Choose gold in grams or in ruppes
3. Fill in payment details
4. Complete KYC (if buying above ₹10,000 worth gold)
5. Buy gold or Sell gold online easily

If you are using GoldLane app for your investments then there are various other features you can explore

The friendly and easy-to-use interface allows the users to stay updated with the latest gold prices at all times. At the same time, the quick purchasing and selling processes enable the users to invest in Digital Gold effortlessly. GoldLane provides its customers and users with an optimum buying and investment experience online.

Taxes on Digital Gold Investment

If you own digital gold for less than 3 years then it will be considered as short term capital gain and tax will be added to your taxable income

If you own digital gold for more than 3 years then it will be considered as long term capital gain and you will have to pay 20% tax on your gains.

Note: On GoldLane, while buying digital gold you pay 3% GST on the market price. No extra charge while selling.

Internet Investment Gold (IIG) allows investors to buy physical gold online and have it stored on their behalf.

World Gold Council terms Digital Gold as Internet Investment Gold

What are the benefits of investing in Digital Gold

When we compare it to the traditional practice of buying physical Gold, investing in digital Gold has various advantages over the latter one. Some of the most evident advantages of investing in digital Gold are the following:

Invest any time, anywhere

Digital investments have the most significant advantage of providing you with the convenience of investing any time you want and wherever you are. You do not need to visit a physical jewellery store. All it takes is a few clicks, and the investment is confirmed.

No storage Troubles

When you invest in a digital mode, all the storage hassles that come with buying physical Gold are gone. You don’t need to stress about storing the Gold; neither would you need to pay storage costs for the same. This makes your investments easier and convenient.

Easy Liquidity

Unlike other forms of digital investments, digital Gold can be easily bought and sold on various platforms at fair prices and converted into money upon requirement, making it one of the most easily liquifiable investments.

Easily Redeemable

With GoldLane, redeeming your investment is very easy. You can request your Gold to be delivered to your doorstep at any time you want. The physical Gold will be delivered to your doorstep without much hassle, delays or hectic redeeming processes.

Assured Safety and Purity

GoldLane assures the purity of the Gold that you invest in. Investing in Digital Gold with GoldLane is 100% safe and secure. We always back up your digital Gold with physical Gold to keep your investments risk-free.

Optimum Buying Experience

The experience of buying Gold online with GoldLane is, in fact, even better than buying it offline. The Gold is purchased at the same price as the physical markets, with zero making charges. Furthermore, with GoldLane, buying Gold is now just one click away.

No Minimum Investment

The physical markets always provide you with a gold investment with minimum investment prices. For example, when it comes to an offline purchase, you may be able to buy pure Gold in the form of physical coins, bars, etc. But Digital Gold provides you with the flexibility of making gold purchases without any restrictions on the minimum amount. You can buy Digital Gold for as low as Re.1

Who should invest in Digital Gold?

We suggest that DIgital Gold investments are good for anyone and everyone who wishes to open one more safe channel of returns. However, Digital Gold Investments are the most favourable for people with the following criteria:

1. Those who don’t have large amount of lumpsum money to invest

2. Those who want to invest in gold SIP with small monthly investments and want to avail extra benefits at the end of savings plan

3. Those who want to add gold to portfolio but have time constraints in this fast paced life

4. Those who want to have freedom to get their accumulated gold delivered in the form of gold coins and bars
those who want to exchange accumulated gold for gold jewellery.

The advancement of every industry towards the digital era has left no stone unturned to make processes easier for everyone and digitalise every market activity possible. From buying, selling, and even banking, everything is now online. Then why should the investments still occur with a traditional mindset?

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