Why Indians are showing more interest in buying digital gold

Indian people have a different kind of attachment towards gold and its ornaments. Be it a wedding or a festival, everyone wishes to buy gold to make it special. But now with the changing technology in the country and the world, a big change is also being seen in the way of buying gold. These days, the attraction towards digital gold is increasing rapidly among Indians. Recently, the organization Navi conducted a survey among digital gold investors and non-investors on the trend related to gold purchase and investment. In this survey, 4 major reasons for increasing investment in digital gold have come to the fore. Due to these, investment in digital gold is increasing. The report also reveals the challenges related to investing in digital gold.

According to a recent study, in recent times 50 percent of the people have started investing in digital gold due to good returns. The most important reason behind this is that there is no fear of any kind of theft in it. Keeping digital gold is less risky than keeping physical gold. In this survey, 39 percent believe that there is no concern of theft in digital gold. While 36 percent people have invested due to the purity of digital gold i.e. the ability to buy 24 carat pure gold. While 25 percent people feel that through the app offering digital gold, there is a facility to buy, sell and track the investment made by you at any time.

Digital gold has its disadvantages along with its advantages

Digital gold has some disadvantages along with its advantages. Therefore, investors are not able to fully trust it openly. However, in this survey, 67 percent people are unsure about the investment process and the benefits from it. Apart from this, 44 percent people are preferring physical gold due to the lack of facility to touch and feel digital gold. Other reasons for not investing in digital gold include lower returns compared to the stock market and fear of online fraud. Apart from this, GST is also a reason which is a big dilemma for investors of both digital and physical gold.