Gold has been used for thousands of years. Once it was our currency; human beings used gold to trade goods. Future Of Digital Gold in People’s life would use gold coins just like we have traditional coins in our national currencies.
Gradually, as human minds and technology evolved, we switched to paper currency. Each country has its own local currency today. And it didn’t stop there, in the 21st century we saw the emergence and rise of digital currency.
Don’t tell me you have never heard about Bitcoin.
But, despite everything, gold is still used today. In fact, gold is considered much more precious than traditional currency. The value of gold has only increased, and though we don’t use gold to trade things anymore, gold is still used for investment purposes.
But, what if i tell you today, investing in gold doesn’t mean investment in physical gold? The idea of investing in digital gold has become quite popular today. It takes out all the small hurdles that deter one from investing in physical gold.
In this article, I’m going to discuss digital gold, how people are investing it, and why people think it’s the future of gold investment.
So, shall we start?
What is Digital Gold?
You can assume that the idea of digital gold is driven by digital currency. As the name suggests, buying digital gold means you don’t need to visit any gold exchange or gold shop.
While sitting in your home or anywhere, you can purchase gold online and store it in a vault provided by the seller. You remain the owner of this gold and can sell it anytime by logging into your vault.
And as it goes without saying, while buying digital gold, you don’t have to inspect it for purity or worry about its safe storage. This idea has encouraged even busy people and people with no knowledge of gold to invest their money in gold with ease.
Digital Gold, the Future of Gold investment
Well, normally we prefer our investment to be physical. And when it comes to gold, each of us would prefer to keep it with us. Why should I trust an online company to hold my gold?
But today, people have little time to take care of these things. Going out to buy gold, checking its purity, picking scammers, and taking care of it is too much for someone already having a 9-5 job.
Let’s see why digital gold is deemed as the future of gold investment.
Digital Gold is Easy to Buy
As mentioned earlier, digital gold is easier to buy as compared to physical gold. There are apps available today for gold trading. Once you decide to invest via a company, the same company will buy gold on your behalf and store it.
Some of these companies are even willing to send gold to your place, in case you want to use it. Or you have planned to sell it in a physical market.
You will have an account in which you can log in at any time. You will be able to check the live trading rates of gold and sell it when you feel it’s the right time to cash it.
Digital Gold is Much Safer than Physical Gold
Why is digital gold safe, isn’t digitalization entails a higher risk of scams?
The thing is, when you go for the online purchase of gold, you must buy it from a credible source. In that case, there’s no chance of a scam. After all, someone in the market for decades and serving thousands of people won’t scam someone for a few dirhams.
Let’s consider buying physical gold for a moment. Doesn’t it entail risk, what if the gold coins or jewelry you have purchased are impure? If you have no prior experience, chances are you won’t be able to detect them.
When you decide to sell your physical gold, you have to visit the market to get the best prices. It can take a few days, and you are likely to be short of time.
Further, when the amount is big, the buyer might ask for some time and pay you in different segments. (And not to mention the legal paperwork, we all dread it!)
On the other hand, digital gold ensures instant payment. Once you have sold your gold, you will get the full amount in your account. When people today constantly complain about lack of time, imagine the people of 2030.
For sure, they will prefer digital gold.
Transparency & Real Time Updates
Even today, the investors have little time to manage their A-Z investments. Digital gold lets them check the price on a go and make a decision accordingly. All service providers in this regard build real-time update features in their apps and websites.
Flexible Investment Opportunity
Another reason why people are going to be more inclined towards digital gold is flexibility in terms of investment. You can invest as much as you have, from AED 1000 to as much as you want.
This flexibility will attract more people towards gold investment as no other sector promises such profit with minimum risk, even with low investment.