Gold’s timeless appeal in the digital age
In the current times of economic uncertainty, digital gold’s appeal as a hedge against currency fluctuations is on the rise. It will play an important role in increasing the consumption of gold in India by 35% over the period 2015 to 2020. With digital gold, you receive the stability and wealth preservation of physical gold along with cost-efficiencies and the speed that comes with technology.
The online gold market in India has grown significantly with over 80 million customers having digital gold accounts, which are more than double the demat accounts. Nathaniel Popper aptly said, “The reason gold itself had been used as money was not that it was valuable; it had become valuable because it was used as money.”
What is Digital Gold?
Digital Gold is a cost-effective, convenient, and secure way to invest in physical gold using digital speed. In this, investors can buy, sell and accumulate pure gold in fractions anytime and anywhere. Each gram bought by an investor is backed by actual physical gold, which can be easily sold online at a market-linked gold rate. There would be no storage hassles, thus, making it easy to invest in 24K physical gold online.
Gold-based financial offerings, including Gold Accumulation Plans (GAPs), allow users to buy and store gold infractions as small as 0.1 grams, an amount that would be uneconomical to trade physically because of the associated handling costs.
1. Universality and Flexibility: It is a border less global currency system independent of exchange rates and political situations. With digital gold, you could buy and sell gold online anytime and anywhere as per your comfort and convenience, thus, saving your travelling time as well as your efforts.
2. Asset protection and High Liquidity: Digital gold currencies hold 100% of ownership in gold units, which can be redeemed with digital certificates. Most fiat currencies, on the contrary, aren’t backed at all. US dollars, for instance, are ‘legal tenders’ in payment of debts. Furthermore, you could easily sell digital gold online, converting gold into cash instantly. After you sell the desired gold amount successfully, the amount would be transferred to your registered bank account in just a few hours.
3. Investment: Digital gold currencies could be utilized for various investment purposes as they are a safe investment option. Every gram of gold accumulated in your account is backed by actual physical gold. This means that, at any given time in the future, there would be no proportionate risk. As far as the security of the actual gold is concerned, it is secluded in a dedicated vault and in most cases insured, thus, bringing down your risk of loss to zero.
4. Ex changeability and Immediacy: Gold purchased online could be exchanged through digital currency exchangers and if necessary, owners could redeem the gold units and use them for transactions. Due to block chain technology that supports digital currencies, transactions and exchanges occur immediately with smart contracts. Smart contracts are computer software that provides instant execution of agreement terms upon met conditions.
5. Non-reversibility: Online gold currency transactions are final and cannot be reversed like in the case of credit and debit card transactions. These characteristics allow digital gold currency platforms to run smoothly without spending a large budget for dispute resolutions.
In conclusion, digital gold currencies are the modern online format of gold bullion. While they have the same advantages as physical gold, they also enjoy the convenience and immediacy of digital currencies. Hands down, it’s a smart and cost-effective way to protect your wealth. If you’re planning to buy gold online, visit the Finserv MARKETS website and take advantage of transparent, seamless and trackable end-to-end digital transactions.
Investing in online gold, available on Finserv MARKETS, has been made simple and accessible with security and low cost. Enjoy peace of mind knowing your investment is safe and stable by simply visiting the Finserv MARKETS website to get a friction-free experience of obtaining gold online.
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