Digital Gold Investment
Digital gold is a digital form of precious metal. It is a form of investment that allows customers to purchase and sell this commodity at anytime and anywhere. You can invest in digital gold using your bank account or credit card. There are several online sites that offer digital gold investment plans. It’s easy to start with a small investment of just Re 1. You can invest with several payment options such as credit card, debit card, and net banking. Digital gold is stored in an insured vault, so you won’t have to worry about losing it.
Digital gold is an alternative to mutual funds and ETFs, which can be difficult to invest in because of their high expenses. In addition, digital gold is easier to buy and sell, making it a more flexible investment vehicle. And since you don’t need to physically hold the gold, it’s easy to cash out.
In addition to its convenience, digital gold offers tax benefits. Its interest is taxed as income from other sources and is not subject to TDS. Also, you can redeem your digital gold for real gold if you so wish. But remember, if you don’t want to wait three years to cash out your investment, you’ll have to pay capital gain tax. In most cases, the tax will be zero if the investment is less than Rs 50 lakh.
As with any investment, you should consider the risks before investing in a digital gold investment. First, you have to take into consideration the exchange rate risks. Gold fluctuates in value against global national currencies, so you have to be aware of this. You don’t want your digital holdings to decline in value.
Another option is to invest in digital gold through an app such as Jar. The Jar App allows you to invest in digital gold with your mobile number. It requires just a few details to sign up and invest your change. In addition, you can also use UPI to make your investment through the app. Jar also supports the eNACH mandate, which means it detects online transactions and rounds up the amount.
Digital gold is a new form of investment for the 21st century. It offers several advantages, including security and convenience. You can invest as little as Rs1 with digital gold. A digital invoice is provided within five minutes. Digital gold can be easily stored for safekeeping. Your digital gold will be as genuine as physical gold.
Another advantage of digital gold is the ease of buying and selling it online. You can purchase digital gold for as little as Re 1 and have it delivered to your doorstep. Then, you can sell it anytime you want to and from any location. This makes it easier to access your money in case of a financial emergency.