Digital gold is a convenient way to invest in gold through online platforms. Unlike cryptocurrencies, each unit of digital gold is backed by physical gold. When the digital gold is bought online the corresponding physical gold is stored in secure vaults (such as Sequel’s) by the seller on behalf of the customer. Digital gold can be digitally sold or redeemed at any time to obtain instant cash or physical gold in return.
Digital gold can be purchased from major jewellers, refiners and FinTech apps that have started offering digital gold.
Myths about Digital Gold:
The corresponding physical gold is stored in secure bank-grade vaults of approved agencies like Sequel. The gold vaulted is fully insured against theft, natural disasters, fire, etc unlike in a traditional locker facility.