Things to take care of while investing in digital gold wallets

Invest in only one mobile payment app

Many mobile payment wallets offer digital gold wallets. It can be better to invest in a wallet you use the most so that it can be easier to track your investments

Having investments in more than one wallet can be challenging to keep track of.

Stay alert for fraud

Only use known wallets like PhonePe, Amazon Pay, PayTM etc. Using unknown wallets can have a risk of fraud.
No digital gold wallet will offer you more returns than the price of gold. A digital gold wallet can only track the price of gold and not be more than the price.
Beware of fraud Ponzi schemes.

There is no maturity period

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

Can combine it with other investments

The gold prices may or may not increase in the long run. Also, the cost of gold can decline in the short run or remain the same for a long time.
Therefore, it is better to invest in other investments along with the digital gold wallets.

Not for emergencies

You might want to withdraw your digital gold wallet investment, but the value might be less than your buy price.
Therefore, it can be better to keep some amount of your savings in your savings bank account for emergencies. Don’t put all your savings into digital gold wallets.

To track your progress

Things to take care of while investing in digital gold wallets

Scroll through to find out how you can apply for Digital Gold Wallets!