HomeGold5 Digital Gold Purchase Options - How to Buy Gold Online?

5 Digital Gold Purchase Options – How to Buy Gold Online?

Digital Gold

Digital Gold – Gold has always been a symbol of wealth and security in India. Traditionally, people bought gold in physical form, but now, with digital transformation, purchasing gold online has become easier, safer, and more convenient. Digital is a smart way of investing in gold. There are multiple options and apps available online to buy gold. If you are planning to invest in the gold, you should consider Digital Gold. In this post, I will share details about Digital Gold and various options for buying Digital Gold.

What is Digital Gold?

Digital Gold as the name indicates is virtual gold or e-gold. You can purchase digital gold online. It is the fastest, most secure, and most convenient way to invest in 24K gold online. The gold purchased 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 a fraction denomination using this method anytime, anywhere. The amount invested, and the volume of gold are visible online in the user account.

Also Read – 10 Things to check before buying Gold

Why Invest in Digital Gold?

A few reasons for preferring digital gold over physical gold are given below.

Zero Making Charges – When you purchase physical gold, you opt for jewelry.  You need to pay making charges for jewelry. The making charges are 6 to 14%. You need not pay any making charges while buying a digital gold.

Pure Gold – Your purchase in digital gold is backed by equivalent physical gold with a purity of 24K 99.5% purity.

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 worry about storage.

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.

Converting Gold to Cash – You can easily sell this 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 the seller’s place.

5 Digital Gold Purchase Options – How to Buy Gold Online?

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

1. Paytm Digital Gold

What is Paytm Digital Gold?

Paytm, in partnership with MMTC-PAMP, offers a secure way to buy and sell digital gold through its app.

Why Choose Paytm Digital Gold?

  • Buy gold for as low as Rs. 1.
  • Option to convert digital gold into physical gold coins or bars.
  • Stored in insured vaults.
  • Easy to sell gold anytime at live market rates.

How to Buy?

  1. Open the Paytm app.
  2. Go to the “Gold” section.
  3. Enter the amount or weight of gold you want to buy.
  4. Complete the payment and your digital gold is added to your account.

2. Google Pay Digital Gold

What is Google Pay Digital Gold?

Google Pay collaborates with MMTC-PAMP to offer digital gold investment directly through its app.

Why Choose Google Pay Digital Gold?

  • Backed by 24K gold stored in secured vaults.
  • Minimum investment as low as Rs. 1.
  • Seamless purchase and sale with real-time gold prices.

How to Buy?

  1. Open Google Pay and navigate to the “Gold” section.
  2. Enter the amount you want to invest.
  3. Make the payment and your gold is securely stored.

3. PhonePe Digital Gold

What is PhonePe Digital Gold?

PhonePe, in partnership with SafeGold, allows users to buy, sell, and store gold securely.

Why Choose PhonePe Digital Gold?

  • Investment starts from just Rs. 1.
  • Buy and sell gold 24/7 at live market rates.
  • Gold stored in insured lockers with full security.

How to Buy?

  1. Open the PhonePe app and tap on “Gold.”
  2. Choose to buy in rupees or grams.
  3. Complete the payment and your gold will be added to your digital vault.

4. SafeGold

What is SafeGold?

SafeGold is a trusted digital gold provider offering seamless transactions with transparent pricing.

Why Choose SafeGold?

  • Backed by 24K physical gold stored in secured vaults.
  • Option to convert digital gold into physical gold.
  • Provides gifting options and Gold SIP (Systematic Investment Plan).

How to Buy?

  1. Visit SafeGold’s official website or partner apps (such as PhonePe).
  2. Choose the amount of gold to buy.
  3. Make the payment and receive your digital gold instantly.

5. MMTC-PAMP Digital Gold

What is MMTC-PAMP Digital Gold?

MMTC-PAMP is India’s leading digital gold provider, offering 24K gold with 99.99% purity.

Why Choose MMTC-PAMP?

  • Backed by India’s leading gold refinery.
  • One of the most trusted brands in the gold industry.
  • Gold stored in highly secure vaults.
  • Option to take physical delivery in the form of coins or bars.

How to Buy?

  1. Visit MMTC-PAMP’s official website or partner platforms like Paytm and Google Pay.
  2. Enter the desired gold quantity.
  3. Make the payment and your gold is securely stored in a vault.

Important Points to Consider Before Investing in Digital Gold

A few Important points of consideration before investing in gold in the digital format are given below.

  • You should consider the reputation of the company offering the gold. The company should be reputed and should be backed by a strong financial background.
  • You should also check price tracking errors and accuracy.
  • Evaluate the company for the applicable storing charges & maximum time period allowed for storing gold.
  • Compare features offered by various providers.

Over to You

Digital gold is revolutionizing the way Indians invest in this precious metal. Whether you choose Paytm, Google Pay, PhonePe, SafeGold, or MMTC-PAMP, each platform offers a seamless and secure way to buy gold online. Always compare prices, fees, and redemption options before making your purchase.

So, what are you waiting for? Start your digital gold investment today and enjoy the convenience of buying and selling gold with just a few taps!

FAQs

1. Is digital gold a safe investment?

Yes, digital gold is a safe investment as it is backed by physical gold stored in secured vaults.

2. Can I convert digital gold into physical gold?

Yes, most platforms allow you to redeem digital gold for physical gold in the form of coins or bars.

3. Are there any hidden charges for buying digital gold?

Some platforms may charge transaction fees, storage fees, or taxes, so always check the terms before investing.

4. What is the minimum amount required to buy digital gold?

Most platforms allow you to start with as little as Rs. 1.

5. How is digital gold different from Gold ETFs or Sovereign Gold Bonds?

Digital gold is backed by physical gold, while Gold ETFs and Sovereign Gold Bonds are market instruments that track gold prices without physical backing.

 

Shitanshu Kapadia
Shitanshu Kapadia
Hi, I am Shitanshu founder of moneyexcel.com. I am engaged in blogging & Digital Marketing for 10 years. The purpose of this blog is to share my experience, knowledge and help people in managing money. Please note that the views expressed on this Blog are clarifications meant for reference and guidance of the readers to explore further on the topics. These should not be construed as investment , tax, financial advice or legal opinion. Please consult a qualified financial planner and do your own due diligence before making any investment decision.