Physical Gold or Digital Gold: Families in India consume a lot of digital gold. Purchasing it over holidays is thought to be lucky. The prices of gold rise over the holiday season as a result of this acknowledgment. India is a significant global gold consumer. Along with physical gold, digital gold is now becoming more popular. The best aspect of digital gold is that it allows customers to purchase 24 karat pure gold online.
Platforms like Paytm, Google Pay, PhonePe, or MMTC all offer the ability to purchase digital gold. According to experts, using digital gold is more advantageous in a variety of ways. why not explain?
Gains from Digital Gold
You can invest as much less as you want into Digital Gold. Digital gold can also be purchased for one rupee. It also has 24 carat gold in it. Maintaining and safeguarding gold is not a problem. When you sell it, money immediately appears in your account.
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The negative aspects of Digital Gold
The use of digital gold has drawbacks in addition to advantages. GST on digital gold is set at 3%. In other words, if you want to purchase gold worth 10,000 rupees, you must pay 10,300 rupees. In addition, storage, insurance, and trustee expenses amount to another 2 to 3 percent of the bill. For this, there is no regulatory body.
Digital Gold is highly liquid
It is Highly liquid. It may be used as security. The loan is simple to obtain if you mortgage it. Paperwork hassles are not involved in this.
Minimum Amount is 2 Lakh
There is a 2 lakh rupee cap on investments in digital gold across all platforms. It is maintained in protected wallets that are secure. On many platforms, there is a time limit for storage. Overall, investing in digital gold is simpler than with actual gold.
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Physical Gold
The biggest difficulty in physical gold is its purity. The amount of gold used in this is less. Furthermore, selling it when you need takes time and does not always result in a full profit. Additionally, the security is a big concern. For this, you have to get a locker in bank.
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