Characteristics of Digital Gold Wallets

When can you invest, and is there a maturity period?

 

  • You can invest in a digital wallet whenever you want.

 

  • There is no minimum or maximum limit on the number of transactions (payments you make to buy digital gold).

 

  • There is no maturity period for investing in digital gold wallets.

 

  • Also, you can redeem your gold investment at any point in time.

Where can you find digital gold wallets to invest in? 

You can find digital gold wallets in mobile payment wallets like Phone Pe, Amazon Pay, PayTM etc.

What returns can I get by investing in Digital Gold Wallets?

  • For whatever price you have purchased gold, your returns will increase if gold prices rise from that.

 

  • Similarly, your returns will decline if the price of gold falls from the price you bought.

 

  • A digital gold wallet only tracks and matches the price of gold.

For example:

  • Suppose you have purchased digital gold worth ₹100 at the Gold price of ₹5000 per 10 grams of 24-carat gold.

 

  • Now, if the price of gold declines to ₹4900 per 10 grams, the value of your digital gold will be around ₹98.

 

  • Similarly, if the price of gold rises to ₹5100, the cost of your digital gold investment will be ₹102.

 

  • Therefore, the value of your gold investment is dependent on the current value of 24-carat gold.

What is the minimum amount you can invest every month? 

There is no limit on the minimum investment you can make in digital gold wallets.

You can invest in Digital Gold Wallets in two ways, monthly investments or “one-time” investments.

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    For monthly investments, the minimum value you can invest is ₹100

     

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    For “One Time” investment, the minimum value is ₹1/-

     

You can make any number of payments and put your savings into these wallets.

 

What are the features of digital gold wallets?

 

Part of mobile payment wallets.

 

Used to invest in the virtual gold.

 

No maturity period.

 

You invest in the purest form of gold.

 

Tracks the current gold prices.

 

Can choose among different mobile wallets.

What are the benefits of investing in digital mobile wallets?

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    No hassles with investing in physical gold.

     

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    Better than buying physical gold.

     

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    Can invest an amount as low as ₹100.

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    Can redeem anytime.

     

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    Can redeem partial units.

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    Can track your investment in your mobile payment wallet.

Let us learn about the things to be taken care of while investing in digital gold wallets!

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