Digital Gold
Lets talk about some niche things to invest today ….like Gold!! Yes, you heard it right!! Even we can look at investing in Gold as an asset class, the digital way. Its now very easy, can be done from even our phone and with no security / account related hassles. And guess what – YOU CAN INVEST IN GOLD FOR AS LITTLE AS Rs 1.00. And before you ask - Yes, we are talking about REAL Gold. Yes, we are talking about ONE(1) Indian Rupee.
So here we go- There are multiple ways to invest in Gold:
We all have seen the elders buying gold from jewellers. That’s physical gold. 1st option.
2nd option is that we can open a demat account and buy something called GOLD ETF or Gold Mutual Funds or Gold bonds sold by Reserve Bank of India. These can be purchased and sold through stock exchange but you will need a Demat and Trading Account for investing in these. Decent options but little complicated.
Our favourite is DIGITAL GOLD. It is similar to purchasing physical gold, but your purchase becomes gets credited in your digital account, you can invest as little as Re 1 and eliminates the need to worry about purity, storage or safe-keeping.
There are some very decent options like PayTM Gold, Banks like Axis/HDFC/ICICI Bank etc to buy this. So this is how it works:
Log on to Paytm account
Go to the gold section and purchase gold for whatever amount you feel.
You can opt to get delivery of the gold subject to minimum amount also.
In these tough times that we are living in, Gold has been advised by Top investment Gurus also as a important part of any portfolio and for those of us who don’t have demat accounts or are still not Full-on with Stocks and debt, digital gold can be a great option. Just imagine: Save Rs 100 and tell parents- you bought Gold from your savings!! Something definitely worth exploring!!
So that was it for this time’s update folks! Hope this helps you to take one step closer to becoming financially mindful! Incase you have any queries, feel free to reach back to us at gofinsnapper@gmail.com Until next time; Adios, Amigo! Team Finsnap