In Hinduism, the festival of Akshaya Tritiya, buying gold is considered lucky and brings wealth and prosperity into one's home. Due to the lack of alternatives, Indians have utilised this day to purchase actual gold or jewellery.
As the digital age has progressed, digital gold has become more and more well-liked among Indian consumers, who choose to buy gold in digital form on special days like Dhanteras and Akshaya Tritiya due to its many advantages.
One of the major benefits of purchasing digital gold is that, unlike physical gold jewellery, it can be acquired for as little as Rs. 1, and consumers are not need to pay any making fees.
Additionally, customers can easily convert their digital gold into physical gold or jewelry with just a few simple steps. However, if they need delivery, they may have to pay some extra making charges or delivery charges.
Several authorized companies such as MMTC-PAMP, SafeGold, and Augmont Gold sell digital gold online through various modes. Customers can visit these companies' websites or payment apps such as Paytm, PhonePe, and Google Pay, which have tie-ups with these companies, to purchase digital gold. These companies also offer several options for digital gold, such as converting investments into liquidity.
For instance, MMTC-PAMP provides three options for digital gold:
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Redeeming digital gold by taking exquisitely crafted gold bars and coins from MMTC-PAMP.
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Selling digital gold back to MMTC-PAMP whenever required and getting instant bank transfer after a cooling-off period of 72 hours.
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Transferring digital gold to a loved one by sending them an invite to register on MMTC-PAMP using their mobile number.
Payment apps such as Paytm, Google Pay, and PhonePe also allow customers to purchase digital gold quickly and hassle-free. Paytm provides an option to purchase digital gold of MMTC-PAMP by tapping on the "Paytm Gold" option under the "Stocks and Wealth" icon and choosing the desired value/quality of gold.
Similarly, Google Pay stores the gold bought on its platform in MMTC-PAMP maintained Gold Accumulation Plan or GAP, and customers can check all digital gold-related transactions in the Gold Locker. Finally, members of PhonePe can invest as low as Rs 1 and accumulate gold over time by purchasing digital gold of MMTC-PAMP or Safegold.
The digital gold has become an increasingly popular option among Indian consumers due to its convenience and multiple benefits. The availability of various authorized companies and payment apps has made purchasing digital gold easier and hassle-free. Therefore, people can buy digital gold on Akshaya Tritiya without any worries and bring prosperity and wealth to their homes.
