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10 platforms to invest in E-gold in 2022!

 invest in E-gold in 2022

India, by far, is the world’s largest importer and consumer of gold. Not only is it a metal of great value, but it also holds great significance and traditional value in India. Gold, as an investment, has already stood the test of time. It has provided great returns over time and is one of the few investment options trusted in almost all Indian households. Thus, gold as an investment holds great traditional and cultural value in the country. With the advent of digitalization, gold investment options have also followed suit. 

The digital gold has been increasingly popular over recent years. The list of platforms to invest in e-gold has also been on the rise. You can now buy digital gold, store it safely in a vault, and sell it according to your convenience. You can use several platforms to buy and store your e-gold, but they have to be connected to any of the three companies that deal with digital gold in India. They are Augmont Goldtech Pvt. Ltd., Digital Gold India Pvt. Ltd., and MMTC-Pamp India Pvt. Ltd. These companies purchase digital gold and store it safely on behalf of the online gold investment platforms.

Related: Gold ETF Vs Gold Saving Fund: Which one is right for you?

Some benefits of investing in e-gold in India are:

  • You can buy, store, and sell digital gold in small quantities, for example, 1 or 2 grams.
  • Absolute transparency in pricing is maintained.
  • Digital gold or e-gold is high in liquidity. The investor can sell it at any point in time without the risk of impurity.
  • Digital gold or e-gold rates on the NSE are at par with the Indian market rates.

Related: Top 5 Gold ETFs in India

Best platforms to invest in E-gold

There are several e-gold investing platforms in India. Here are the 10 best digital gold investment platforms:

  1. Paytm - Paytm is an e-com platform for payment and is one of India's most popular and widely used fintech companies. Indian investors can invest in or purchase 99.99% pure gold through this platform. And the investors can do this for an amount as low as Re. 1.
  2. PhonePe - Founded in 2015 with its headquarters in Bangalore, India, PhonePe is also a very popular fintech company in India. Even PhonPe allows Indian investors to sell or buy 99.99% pure gold for a rate as low as Re. 1. This company provides absolute transparency in pricing and quality assurance. 
  3. Google Pay - Powered by Google is another digital payment platform supporting digital gold investment. Just like PhonePay and Paytm, Google Pay also allows investors to buy or invest in 99.99% pure gold for Re. 1. The process for investing through Google Pay is also quite similar to the process for investing in e-gold through Paytm and PhonePe.
  4. 5Paisa - Using this platform, you can purchase or sell e-gold starting from Rs. 50, and you can also ask for physical delivery of the gold purchased at a basic convenience fee and delivery charge. 
  5. Groww - Groww is an online investment platform based in India that allows people to invest in mutual funds and stocks. People can now start investing in or buying digital gold through Groww. Groww requires a minimum investment of Rs. 10. Investors must resort to UPI, NEFT, net banking, IMPS, or RTGS to purchase e-gold. And in an investor decides to use net banking, then he or he will need to invest or purchase more than Rs. 100.
  6. Jar - Jar is an application that helps you in your daily savings. It rounds of spare change whenever you make a digital transaction. It invests this spare change in digital gold without any extra manual efforts. If you make a transaction of Rs. 94, Jar automatically rounds it off to the nearest 10 and thus invests Rs. 6 in digital gold. 
  7. Airtel Payments Bank - A subsidiary of Bharti Airtel, this company has recently launched a new platform called DigiGold. However, only customers with savings accounts in Airtel Payments Bank can invest in digital gold through this platform.
  8. MobiKwik - This app allows investors to purchase and sell e-gold in grams. The e-gold bought is stored in your MobiKwik Gold account, and you can trade it anytime using your MobiKwik wallet or any bank account.
  9. Amazon Pay - Users can now purchase digital gold from the Amazon Pay page in the Amazon app. Through this platform, digital gold can be bought starting from Rs. 5. You can even buy up to 30 grams of gold without KYC.
  10. HDFC Securities - Through this company, investors can buy 24K digital gold, store it and access it any time, either in the form of cash or in quantity.

The demand for gold has always been uphill. Thus, investing in digital gold through the platforms mentioned above could benefit you. 

Related: What makes a better wedding gift: Gold Jewelry or Gold Bonds?

Gold ETF vs Gold Mutual Funds vs Sovereign Gold Bond vs Physical & Digital Gold

India, by far, is the world’s largest importer and consumer of gold. Not only is it a metal of great value, but it also holds great significance and traditional value in India. Gold, as an investment, has already stood the test of time. It has provided great returns over time and is one of the few investment options trusted in almost all Indian households. Thus, gold as an investment holds great traditional and cultural value in the country. With the advent of digitalization, gold investment options have also followed suit. 

The digital gold has been increasingly popular over recent years. The list of platforms to invest in e-gold has also been on the rise. You can now buy digital gold, store it safely in a vault, and sell it according to your convenience. You can use several platforms to buy and store your e-gold, but they have to be connected to any of the three companies that deal with digital gold in India. They are Augmont Goldtech Pvt. Ltd., Digital Gold India Pvt. Ltd., and MMTC-Pamp India Pvt. Ltd. These companies purchase digital gold and store it safely on behalf of the online gold investment platforms.

Related: Gold ETF Vs Gold Saving Fund: Which one is right for you?

Some benefits of investing in e-gold in India are:

  • You can buy, store, and sell digital gold in small quantities, for example, 1 or 2 grams.
  • Absolute transparency in pricing is maintained.
  • Digital gold or e-gold is high in liquidity. The investor can sell it at any point in time without the risk of impurity.
  • Digital gold or e-gold rates on the NSE are at par with the Indian market rates.

Related: Top 5 Gold ETFs in India

Best platforms to invest in E-gold

There are several e-gold investing platforms in India. Here are the 10 best digital gold investment platforms:

  1. Paytm - Paytm is an e-com platform for payment and is one of India's most popular and widely used fintech companies. Indian investors can invest in or purchase 99.99% pure gold through this platform. And the investors can do this for an amount as low as Re. 1.
  2. PhonePe - Founded in 2015 with its headquarters in Bangalore, India, PhonePe is also a very popular fintech company in India. Even PhonPe allows Indian investors to sell or buy 99.99% pure gold for a rate as low as Re. 1. This company provides absolute transparency in pricing and quality assurance. 
  3. Google Pay - Powered by Google is another digital payment platform supporting digital gold investment. Just like PhonePay and Paytm, Google Pay also allows investors to buy or invest in 99.99% pure gold for Re. 1. The process for investing through Google Pay is also quite similar to the process for investing in e-gold through Paytm and PhonePe.
  4. 5Paisa - Using this platform, you can purchase or sell e-gold starting from Rs. 50, and you can also ask for physical delivery of the gold purchased at a basic convenience fee and delivery charge. 
  5. Groww - Groww is an online investment platform based in India that allows people to invest in mutual funds and stocks. People can now start investing in or buying digital gold through Groww. Groww requires a minimum investment of Rs. 10. Investors must resort to UPI, NEFT, net banking, IMPS, or RTGS to purchase e-gold. And in an investor decides to use net banking, then he or he will need to invest or purchase more than Rs. 100.
  6. Jar - Jar is an application that helps you in your daily savings. It rounds of spare change whenever you make a digital transaction. It invests this spare change in digital gold without any extra manual efforts. If you make a transaction of Rs. 94, Jar automatically rounds it off to the nearest 10 and thus invests Rs. 6 in digital gold. 
  7. Airtel Payments Bank - A subsidiary of Bharti Airtel, this company has recently launched a new platform called DigiGold. However, only customers with savings accounts in Airtel Payments Bank can invest in digital gold through this platform.
  8. MobiKwik - This app allows investors to purchase and sell e-gold in grams. The e-gold bought is stored in your MobiKwik Gold account, and you can trade it anytime using your MobiKwik wallet or any bank account.
  9. Amazon Pay - Users can now purchase digital gold from the Amazon Pay page in the Amazon app. Through this platform, digital gold can be bought starting from Rs. 5. You can even buy up to 30 grams of gold without KYC.
  10. HDFC Securities - Through this company, investors can buy 24K digital gold, store it and access it any time, either in the form of cash or in quantity.

The demand for gold has always been uphill. Thus, investing in digital gold through the platforms mentioned above could benefit you. 

Related: What makes a better wedding gift: Gold Jewelry or Gold Bonds?

Gold ETF vs Gold Mutual Funds vs Sovereign Gold Bond vs Physical & Digital Gold