Investing in gold has always been a popular option for people looking to diversify their portfolios and safeguard their wealth against market fluctuations. Traditionally, physical gold was the go-to investment option, but with the advent of technology, digital gold investment apps are gaining traction in India. In this article, we will explore why investing in digital gold may be a better option than physical gold for Indian investors.
For starters, one of the most significant advantages of digital gold is its portability. Investors can buy and sell gold instantly with digital gold investment apps, eliminating the hassles of storing and securing physical gold. This is especially advantageous for investors in India, where storing gold can be difficult due to security concerns and a lack of proper storage facilities.
Second, digital gold investment apps provide greater investment amount flexibility. Physical gold requires investors to purchase gold in fixed denominations, which may not be affordable or feasible for everyone. Digital gold investment apps, on the other hand, allow investors to buy gold in smaller denominations, for instance with Spare8 users can invest as low as Rs.1 making it more accessible to a broader range of investors.
Third, digital gold investment apps provide greater transparency and purity assurance. One of the major concerns with physical gold is the risk of fraud, with reports of counterfeit gold being sold in the market. Investors using digital gold investment apps can be confident in the purity of the gold they are purchasing because it is sourced from reputable suppliers and comes with a certificate of authenticity. Spare8 is backed by Augmont, India’s largest gold refinery that guarantees purity and authenticity
Finally, digital gold investment apps provide greater liquidity, allowing investors to sell their gold whenever they need to. This is especially useful during financial emergencies, when investors may need to liquidate their assets quickly. By leveraging on the UPI stack Spare8 has a seamless process for both buying and selling of one’s investment
To summarize, while physical gold has been a traditional investment option, digital gold investment apps provide several benefits that make it a more appealing option for Indian investors. Digital gold investment apps are worth considering for those looking to invest in gold because they provide greater convenience, flexibility, transparency, and liquidity.