Dhanteras 2024: Buy digital gold easily on Paytm, Google Pay, and PhonePe - From just ₹1

tech.hindustantimes.com:

Dhanteras marks a significant occasion for gold purchases in India, a tradition that has adapted to modern technology. As this festive day approaches, many look to buy gold, traditionally seen as auspicious, especially on the first day of Diwali. The rise in gold prices and associated costs such as making charges make buying physical gold a challenge for many. Digital gold offers a convenient alternative, allowing buyers to purchase gold at the current market price without additional expenses.

Digital gold simplifies the buying process. Consumers can purchase gold online without concerns about purity or storage. They can also buy or sell their holdings at prevailing market rates. 

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Purchasing digital gold is accessible, with options to invest as little as Rs. 1 or as much as Rs. 2,00,000 in a single transaction. Though this investment is recorded electronically, its value fluctuates like physical gold, providing a practical way to engage with the market. Furthermore, vendors manage storage, reducing the risk of theft.

Liquidating digital gold proves straightforward, resembling the process of transferring money through UPI. Some platforms offer the option to convert digital gold into physical coins, contingent on meeting minimum purchase requirements, such as owning at least one gram of gold. In contrast, selling physical gold can incur various losses, including making charges.

When purchasing digital gold, consumers receive 24 karat (100 percent pure) gold, compared to the standard 22 karat (91.6 percent pure) found in physical jewellery.

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Prominent digital payment platforms such as Google Pay, Paytm, and PhonePe allow users to buy digital gold directly without needing to download a separate app or create a new account. Companies like MMTC-PAMP India Private Limited