Gold has always been a crucial element in Indian culture and society, a fact that may have been instilled in you since childhood. Whether it is a marriage, a family event, or a celebration, gold has been proven to be a sought-after gift option and a lucky metal to pursue a healthy life. Today, people prefer an online first ecosystem to purchase anything from the market.
On this note, digital gold has gained much traction as a saving instrument, which investors owe to the multiple benefits of investing in digital gold. Online gold buying has become an innovative, convenient, and highly secure way to save money for the future.
Perks of Buying Digital Gold
This segment will give a few benefits of buying digital gold online from a registered platform, making it simple, safe, and fast to purchase gold for anyone.
- Buying Digital Gold online performs a collateral instrument to sanction online loans.
- Digital Gold is 100% pure as it can be purchased in 24K serving 99.5% poured safe gold.
- It is stored safely in the service provider’s vault on your behalf without any extra charge when purchased from a reputable online platform and is 100% insured.
- You can exchange digital gold for physical jewelry or in bullion anytime.
- It acts as a hedge against the severe downfall of the economy, and you can use them as your asset.
- Unlike the physical form of gold, which renders a considerable amount as a buying cost, you can buy digital gold with a minimum and multiple thereof with absolute surety of gold’s quality.
Digital Gold Acts as a Future Financial Planning Instrument through SIP
Gold Systematic Investment Plan, commonly known as Gold SIP, is a simple process of investing a fixed amount of money throughout the year. An investor buys digital gold regularly every month or quarterly, as per the investment plan he has up to, fetching the equivalent amount of gold in digital form.
The process acts as a guide for future financial planning, hence buying it undergoes an automation procedure under the authority of a bank or reputable gold store. For that, you must mention the sum of money by selecting your investment period and plan. These investments will help you broaden your portfolio and help accumulate financial assets for your future.
With Gold SIPs, reaping the advantages of rupee cost averaging becomes more accessible over accumulating the benefit from investing across all the market cycles. Similarly, the gold price fluctuates at times; when opting through the SIP route, the cost of gold eventually averages out. You can also take the help of a Gold SIP Calculator, which determines the amount of money needed to invest in a particular amount of gold. Gold SIP calculator figures out the amount of money to reach your dream gold collection.
Benefits of Investing in Gold SIP Programs
Investing in Gold SIP has brought a new trend in the market due to its low volatility, apart from fixed deposits that have a low-interest rate and share market that is highly volatile. Many technical analysts consider digital gold to be the safest investment program. Even the low-budget investor can hold the Gold SIP schemes for the long run as it requires a tiny denomination as per their feasibility and is very easy to maintain and handle.
- Portfolio Diversification: Despite buying physical gold or gold coins according to your feasibility, keep aside a fixed amount that is dedicatedly meant for SIP on a monthly or quarterly basis. It will help you to upsurge your bankroll with the increase of the gold price and gives a good return on average every year and a great investment plan to save money for kids.
- Affordable to Every Type of Budget Investors: At Gold SIP, investing small amounts is feasible. Only some people can afford high denominations every month, and gold sip gives a free micro-investment option to people falling under the low-income bracket.
- Convenience: A facilitator deducts the amount fixed for the SIP scheme online from your bank on the specified date. Shell out a certain amount of money at regular intervals; it helps you to be disciplined in your approach towards investing.
Importance of Investing in Digital Gold to Save Money For Kids
Investing in gold has found a great asset to save for your children’s bright future, as it contributes to diversification, hedge against inflation, and act as a savings plan. You can handle the account as a parent until your child reaches maturity. By initiating early investment plans for their descendants, parents accrue savings for their children’s future. It also helps give a proper understanding of the investment process, fluctuation of the markets, and its functioning, along with the art of portfolio management.
The investment serves as a medium to convert savings into prosperity that prevails over financial objectives. It helps fund higher education or is a bilateral approach for a comfortable retirement. Moreover, gold investments provide an opportunity to educate children on the intricacies of investing. Therefore, Parents can initiate their investment approach by buying a small quantity of digital gold from a reputable platform, saving money for kids, and steadily increasing the investment over time to get a more significant outcome in the future. As we see that the gold price has given considerable returns in the long run, the child will have a tangible asset when they reach the maturity level and can convert that digital gold into cash or bullion according to their needs.
Conclusion
Since Gold SIP is a periodic investment, you don’t have to consider its price volatility. Investing a fixed sum of money in gold at specific intervals would decrease the average cost of asset purchasing in the long run. Thus, you can use many online platforms for Gold SIP and purchase digital gold. For example, DIGIGold offers a stage where you can buy digital gold online or opt for SIP schemes of various investment plans to increase your saving rates.
