Gold is an investment option that is very common among the Indian households. India is the largest importer of Gold in the world. Digital Gold has become common these days due to digitalization and a lot of online applications coming into the market.
The Digital Gold which is bought online will be stored in safe vaults. Currently, there are 3 companies in India that provides Digital Gold. You can use certain platforms for purchasing gold but these 3 companies will be associated with those platforms.
The 3 companies in India are Augmont Gold Ltd, MMTC-PAMP India PVT. LTD and Digital Gold India Pvt Ltd under the brand Safe Gold. These companies purchase the gold and store them safely in vaults on behalf of the platforms. Here is the list of platforms to invest in E-gold in India.
Paytm
Phonepe
Google Pay
Groww
HDFC Securities
Motilal Oswal
Upstox
Airtel Payements Bank
Amazon.in
FAQ
Paytm
Paytm is an e-commerce payment system and a fintech company in India. It was founded in the year 2010 and has its headquarters located in Uttar Pradesh, India. Paytm provides an opportunity for Indians to invest or purchase 99.99% pure Gold for as low as INR 1.
The user can purchase gold through the Paytm app by choosing the stocks and wealth icon and then select the Paytm Gold icon which would let you invest Gold in terms of rupees or in quantity.
Phonepe
PhonePe is an Indian financial service and a digital payment platform. It was founded in the year 2015 and has its headquarters located in Bangalore, India. The company is a subsidiary company of Flipkart. Even PhonePe allows its users to invest or purchase 99.99% pure Gold for as low as INR 1.
The platform provides the promise of transparent pricing and assured quality. In PhonePe the users will have to login into their account and choose the Gold option which would be available in the My Money section. PhonePe also allows its users to invest in Gold in terms of rupees or in quantity.
Google Pay
Google Pay is also a digital payment platform which is powered by Google. It was launched in the year 2015. Google Pay also lets users to invest or purchase 99.99% pure Gold for as low as INR 1.
The users can purchase the gold from by using the Google Pay platform and works similar to the digital Gold purchased through Phone Pe and Paytm.
Shruti Jalan
Groww
Groww is an Indian based online investment platform. It provides services to customers to invest in mutual funds and stocks. The company was founded in the year 2016 and has its headquarters located in Bangalore, India.
Through Groww the users will be able to purchase Gold in terms of grams from a starting price of INR 10. The purchase cannot be made through the Groww funds and the users will have to purchase them through UPI, NEFT, net banking, IMPS or RTGS. If it is net banking then they will have to purchase for more than INR 100.
Pratiksha Bajikar
HDFC Securities
HDFC is a financial securities company that is a subsidiary company of HDFC bank. HDFC securities was founded in the year 2000 and has its headquarters located in Mumbai, India. HDFC securities also allow its users to invest in digital gold.
Using HDFC securities users can buy 24K Gold in terms of rupees as well as quantity. You will be able to buy the top-quality Gold and store it safely in the digital locker which can be accessible anytime and anywhere.
Motilal Oswal
Motilal Oswal is an Indian based diversified financial service company. The company was founded in the year 1987 and has its headquarters located in Mumbai, India. Motilal Oswal allows users to purchase digital Gold at a starting price of INR 1,000. You can purchase 24k pure gold at the best price and keep it safe online.
Alan Joseph
Upstox
Upstox Pro is an online trading platform that is a brand name under RKSV securities. The company is backed by Ratan Tata and is the second largest stock broker in India. Upstox lets users invest in digital Gold for an amount of INR 1.
The users can invest in 24k, 99.95 pure gold by opening a Demat account with the broker and going to the invest section on the application. You can purchase Gold in terms or rupees and as well as quantity.
Airtel Payements Bank
Airtel Payments Bank is a financial service company that is a subsidiary of Bharti Airtel. It is the first company to receive a payments bank license from the RBI. Airtel payments Bank was founded in the year 2017 and has its headquarters located in New Delhi, India.
The company has launched a new platform which is called as DigiGold. This platform will allow the users to invest in digital Gold. This feature can be used only by the saving account customers of Airtel payments bank.
Amazon.in
Amazon.in is one of the largest e-commerce platforms in India. It is a US based company which was founded in the year 1994. The user can buy Digital Gold through the Amazon App on the Amazon Pay page or the users can search for it directly on the search bar.
Once the users can log in, they can click on the gold vault icon and see the buy price at that time. The digital gold can be bought from the starting price of INR 5. The users can buy up to 30g of Gold without KYC.
FAQ
Can I buy virtual gold?
Yes, you can buy digital gold in India through various platforms like Airtel, HDFC, and Paytm etc.
Is digital gold better than physical gold?
Digital gold is considered as a better option as it ensures safety and has no additional storage costs.
What is E-gold in India?
E-gold is held electronically in the demat form and can be freely converted into physical gold.
Conclusion
The Digital Gold which is purchased is 100% insured and the users will have the option to sell it online for the current price or even send a request to convert the digital gold into physical gold and deliver it to your doorstep.
Author: Alan Joseph
Source : https://startuptalky.com/top-gold-investment-platforms/
Date : 2021-05-22T07:30:00.000Z