About Digital Gold

Digital Gold is the new virtual currency that lets you buy and sell gold online in a matter of minutes. The Digital Gold you buy is backed up by physical gold reserves, and with the Digital Gold you purchase on Finserv MARKETS you get access to a secure vault for 5 years. Gold has always been valuable as an investment tool owing to the easy liquidity it offers, but with Digital Gold, you can sell gold and have the money credited to your account instantly. Additionally, the Digital Gold you buy can be redeemed and delivered to your doorstep - giving you the ease of designing the perfect jewellery for your perfect moment, all from the comfort of your computer. 

Digital Gold as the Future of Investing in Gold

Digital Gold is fast emerging as the ideal way for youngsters looking to invest in gold. Digital Gold, available on Finserv MARKETS, is revolutionising the way gold is being bought, sold and utilised. Here’s how!

  • Seamless and Transparent Trading: Buying gold traditionally involves a visit to the jeweller, and bargaining over their charges. Along with the costs of the metal, a visit to the jeweller involves making charges for designing the jewellery the way you want it. These usually build up to a substantial amount and instances galore of customers being fooled into paying more and receiving lesser amount of the precious metal than they are entitled to. However, when you buy Digital Gold on Finserv MARKETS, not only are you assured of the value of your investment; but you are also more aware of the charges attached to every purchase you make.

  • Smaller Investment: The older population still believes in saving up money to buy gold for festive and celebratory occasions, including Diwali, Akshay Tritiya and marriages. The younger generation has taken to buying Digital Gold because of the small ticket size involved in its purchase. For instance, on Finserv MARKETS, you can buy gold for as little as Rs. 100. This would have been virtually unthought of even a few years ago. But now, you can build up your investment over the long-term by investing in Digital Gold.

  • Easier Liquidity: Gold has always been a popular instrument for investors who are looking to hedge risks against inflation, and for the easy liquidity it offers. With Digital Gold, achieving liquidity is even easier because you can sell your gold reserves with a few clicks on your computer. Emergency financial crises can be averted with the easy access to cash that Digital Gold provides.

  • No Storage Costs: Another major expense associated with the purchase of gold is the cost of storing it safely. Most people rent a locker in order to avoid the risks of storing it at home, where it could lead to thefts and burglaries. However, when you buy Digital Gold on Finserv MARKETS, you get access to a storage vault for five years at no additional charges.

Buying, Selling and Redeeming Gold

Buying, selling and redeeming Digital Gold on Finserv MARKETS requires you to set up a customer account. For this, you will need to provide your name, registered mobile number and the PIN code of the city where the purchase has been initiated. Once your customer account has been created, you can buy or sell Digital Gold with just a few steps by logging into the Customer Portal on Finserv MARKETS.

Buying Digital Gold:

Step 1 - Proceed to purchase gold, and select whether you wish to buy gold in grams or INR.

Step 2 - Complete your payment, and the Digital Gold is yours!

Selling Digital Gold:

Step 1 - Enter the amount of gold you wish to sell, either in grams or INR.

Step 2 - Enter the details of your bank account, so the sale amount can be credited directly to your account.

Redeeming Digital Gold:

Step 1 - Choose how you want to redeem your Digital Gold. You can choose for the gold to be delivered to you either as coins or bars.

Step 2 - Based on how much you are redeeming, you might need to add multiple units. Add them to the cart once you have decided.

Step 3 - Review the charges being levied for minting of the gold and the delivery charges.

Step 4 - Confirm the address to which you want the gold to be delivered.

Step 5 - Make the payment for the minting and delivery charges.

The gold will be delivered to the address provided, and the amount of gold that has been redeemed will be deducted from your Digital Gold account.

Frequently Asked Questions

Q. What documents am I required to provide in order to trade Digital Gold on Finserv MARKETS?

A. For trading in Digital Gold on Finserv MARKETS, you only need to provide your name, registered mobile number and the PIN code of the place where the purchase of Digital Gold is initiated. This information will suffice even if your cumulative transactions cross Rs. 50,000. If a single transaction amounts to Rs. 2 lakh or more, you will be required to provide your PAN card details.

Q. As an NRI, which documents must I provide for trading in Digital Gold?

A. NRIs are currently not allowed to trade in Digital Gold. If you have traded in Digital Gold as a resident of India, you must either sell or redeem the gold before you shift to a different country. However, as an NRI, you can purchase Digital Gold through the Stock Holding Corporation of India, also known as GoldRush. Once you are enrolled and registered on the platform, you can open a metal account. For trading on the GoldRush platform, you will be required to submit your ID proof, address proof and details of your passport.

Q. Can minors purchase Digital Gold?

A. No, minors are not allowed to buy, sell or redeem Digital Gold on the Finserv MARKETS platform.

Q. Where is my Digital Gold stored after purchase?

A. Along with purchase of Digital Gold, you are given access to a secure vault for a period of 5 years. Post this time period, you must either sell or redeem your gold.

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