Hello Everyone, In this Post I have bought some really interesting stuff which will definitely interest you. This Blog post is about Investing in Gold on a digital Investing Platform called Upstox which is a leading Share market Investing/ Trading Platform in India.
This Blog post is for Indians and NRI Indians living abroad ( Citizens or Residents of Canada, USA, UK, Australia, Europe, Middle east etc ). I am not sure whether foreign citizens ( Excluding Indians ) can Invest in Indian Stock Markets, Mutual funds or Digital gold. I really do not know the RBI Guidelines or Government Regulations. Hence this Blog post is for Indians.
Note: I am not a Financial Expert or Planner, neither am i giving you investing strategies. I am just sharing some useful stuff which will help you.
What is Digital Gold ?
Digital Gold is Essentially, a gold which is not in a physical form but intangible ( cannot touch or feel ). It’s Digital as the word says, but you may have many concerns such as is it legal? is it safe? . Yes, it’s 100% safe and secure.
Gold is a precious investment for Indians, be it jewellery, biscuits or some other form. We Indians have a long tradition of Storing, Buying and Preserving Gold. We put on or wear down gold in marriages, we forward gold to our newer generations, so on and so forth.
To sum up, It’s just real Gold which is Digital in nature and stored in a vault where authorities and Government monitors.
There are actually many Pros in the Digital gold when compared to Physical gold. I am not against physical gold, but for long term investing I feel Digital gold is better. This is personally my Investment opinion. I do not want to persuade you but encourage and make you aware. That’s it.
Why you Should Invest in Digital Gold ?
There are many reasons why must to invest in Digital Gold. I can Illustrate many reasons but as I am not a Financial Expert i won’t give you recommendations but I will share my insights on why you must have a Portfolio comprising of Digital Gold.
Few Insights on Benefits of Digital Gold:
It’s a Digital Format, you can buy gold worth INR 10 or INR 1 Lakh. It is very efficient and sustainable. You don’t have this option when you consider Physical gold, you are required to buy a certain worth of value which your Merchant provides you. It is divisible and that’s the best part.
To summarize the above point, Investing in Digital Gold is very cost effective.
Each unit of digital gold is backed by 24K 99.9% purity gold
The major concern with Physical gold is Storage. You can either store in your House, Bank lockers or some other secure providers but there is some concern in terms of security. It might get Robbed or Stolen which puts you at a risk. Digital gold on the other is completely secure, there is no issue or storage headaches. Everything is stored securely in a vault which is monitored by Authorities ( Brink ) .
Digital Gold V/S Physical Gold
You cannot buy Physical Gold of 500/INR
Risk of Theft in Physical Gold
Making charges makes the actual value of physical gold lesser.
Digital Gold doesn’t have making charges, melting charges or chargers which restricts your value. It has a straight forward 2-3% fee.
How to Invest in Digital Gold ? How to Place Order ?
It’s very simple. You have to Create an Upstox Account first in order to invest in Digital Gold. Upstox is a leading platform which provides you to invest or buy digital gold. Upstox is Funded by Leading Venture Capitalists such as Sequoia and also Ratan Tata who is a great Industrialist.
Sign up using my Link, You will get a Free Upstox Account + Free Demat & Trading account + Free Gold worth @50. I will place the link down, you can check it out.
Setting up Upstox account is pretty simple. Everything is Online, you just need to scan documents ( PAN, Aaadhar ), send digital photo, send electronic signature and submit everything digitally. It’s very simple there is no rocket science.
For completion of your Setup, it takes 2-3 days for verification. After you are done, Upstox will give you a USERNAME and a PASSWORD which you can login and start Investing.
Once you are done, you can enter in your Upstox portal and start Investing. Here’s the link for Info about Digital gold from Upstox ( https://invest.upstox.com/digital-gold/ )
As you can see in the picture below, you just need to enter the amount and place the order via Netbanking, UPI.
Sign up via the Link given below or above. You are getting free Upstox Account including Free Demat + Trading account and free Gold worth 50inr.
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Blog Post written on: 19/05/2021