Best Digital Gold Investment Platforms to invest in E-gold (2024)

India is the largest importer of Gold in the world. Gold is not only a material of great value that is closely knitted with the Indian culture and tradition but has also been a time-tested investment option, which is very common among Indian households. With the emergence of the internet and the digitalization of the day, gold and the investment in gold in India also took the digital route.

Yes, it is digital gold now in place of the physical gold that is growing in popularity. Besides, a lot of gold investment companies and applications to purchase gold online are fuelling the growing demand for digital gold and making the investment in gold fast, secure, and easy.

The Digital Gold can be bought online and will be stored in safe vaults until sold. Currently, there are three entities in India that provide Digital Gold. You can use certain platforms to make digital gold purchases online, but these three companies would have to be associated with those platforms.

The three companies in India are Augmont Goldtech Pvt. Ltd., MMTC-PAMP India Pvt. Ltd., and Digital Gold India Pvt. Ltd., which is sold under the brand Safe Gold. These companies purchase the gold and store it safely in vaults on behalf of the platforms.

Advantages of E-Gold

• Gold rates on the NSE are based on Indian market rates.
• Investors can buy and sell gold in small denominations. For e.g., 1gm, 2gm of gold.
• Transparency in pricing and seamless trading is one of the major advantages of this product.
• This product is high in liquidity. One can sell it at any point in time. No impurity risks.

Here is the list of gold trading apps that bring in fantastic gold investment options, which one can opt to invest in E-gold in India.

How to Invest in E-Gold?
List of Digital Gold Investment Platforms

1. Paytm
2. Phonepe
3. Google Pay
4. Groww
5. Jar
6. Airtel Payments Bank
7. Amazon Pay
8. HDFC Securities
9. Motilal Oswal
10. FinPlay
11. Zerodha
12. Tanishq

How to Invest in E-Gold?

Open a Demat Account

For purchasing commodities in NSE, it is necessary to have a Demat account. One can keep a separate Demat account for equities and commodities or keep the same one. To open an account, one can submit all the required documentation to NSE.

Trading

Once your account is opened, you can log in and buy e-gold. You can trade from 10 a.m. to 11:30 p.m. on weekdays. Your gold units will get credited to your Demat account in T+2 days (date plus one day).

Physical Delivery

If you want, you can take physical delivery of gold at any time by redeeming e-gold units to your Demat account.

The graph shows the gold price movement in India per 10 grams from 2015 to 2023. The gold price has been increasing over the past few years, and it is likely to continue to increase in the future.

The gold price started at around INR 26,345 per 10 grams in 2015 and reached INR 58,270 per 10 grams in 2023, an increase of over 100%. The main reasons for the increase in gold price are Inflation, Geopolitical uncertainty, and Rising demand from India.

List of Digital Gold Investment Platforms

Paytm

Paytm is an e-commerce payment system and a fintech company in India. It was founded in the year 2010 and has its headquarters located in Uttar Pradesh, India. Paytm provides an opportunity for Indians to invest or purchase 99.99% pure Gold for as low as INR 1.

The user can purchase gold through the Paytm app by choosing the stocks and wealth icon and then selecting the Paytm Gold icon, which would let you invest Gold in terms of rupees or in quantity. It is one of the most trustworthy and best gold investment apps in India.

PhonePe

PhonePe is an Indian financial service and a digital payment platform. It was founded in the year 2015 and has its headquarters in Bangalore, India. The company is a subsidiary company of Flipkart. Even PhonePe allows its users to invest or purchase 99.99% pure Gold for as low as INR 1.

PhonePe platform provides the promise of transparent pricing and assured quality and is one of the best ways to buy gold online. In PhonePe, the users will have to log into their account and choose the Gold option available in the My Money section. With PhonePe, the users can invest in Gold in terms of rupees or in quantity.

Google Pay

Google Pay is also a digital payment platform, which is powered by Google. It was launched in the year 2015. Google Pay also lets users invest or purchase 99.99% pure Gold for as low as INR 1.

The users can purchase the gold by using the Google Pay platform, which works similarly to the digital gold purchased through PhonePe and Paytm.

Groww

Groww is an Indian-based online investment platform. It provides services to customers to invest in mutual funds and stocks. The company was founded in the year 2016 and is headquartered in Bangalore, India.

Through Groww, the users will be able to purchase Gold in terms of grams from a starting price of INR 10. The purchase cannot be made through the Groww funds, and the users will have to purchase them through UPI, NEFT, net banking, IMPS, or RTGS. If it is net banking, then they will have to purchase for more than INR 100.

Jar

The Jar App is a daily savings platform that rounds off spare change from your digital transaction and invests it in digital Gold, all of this with zero manual involvement. For example, If a person spends Rs. 23, Jar smartly rounds it off to the nearest ten and automatically invests Rs. 7 in digital gold on their behalf.
First of its kind, with Jar App, you can save while you spend. The entire process takes 45 seconds and can start right after.
Jar App enables its customers to save consistently with minimum hassle so that they are all prepared for the future.

Airtel Payments Bank

Airtel Payments Bank is a financial service company that is a subsidiary of Bharti Airtel. It is the first company to receive a payments bank license from the RBI. Headquartered in New Delhi, India, Airtel Payments Bank was founded in the year 2017.

Airtel has launched a new platform, DigiGold. It is one of the best platforms to buy digital gold from. This platform will allow users to invest in digital gold. This feature can be used only by the savings account customers of Airtel Payments Bank.

Amazon Pay

Amazon is one of the largest e-commerce platforms in India. It is a US-based company which was founded in the year 1994. Launched in 2007, Amazon Pay uses the consumer base of Amazon.com and focuses on giving users the option to pay with their Amazon accounts on external merchant websites. If you are looking for how to buy gold online with Amazon, then that is easy, too.

The users can buy Digital Gold through the Amazon App on the Amazon Pay page, or the users can search for it directly on the search bar. Once the users can log in, they can click on the gold vault icon and see the buy price at that time. The digital gold can be bought from the starting price of INR 5. The users can buy up to 30g of Gold without KYC.

HDFC Securities

HDFC is a financial securities company that is a subsidiary company of HDFC Bank. HDFC Securities was founded in the year 2000, and its headquarters are located in Mumbai, India. HDFC securities also allow its users to invest in digital gold.

Using HDFC securities, users can buy 24K Gold in terms of rupees as well as quantity. It is one of the best gold trading apps. You will be able to buy the top-quality Gold and store it safely in the digital locker, which can be accessible anytime and anywhere.

Motilal Oswal

Motilal Oswal is an India-based diversified financial service company that also provides gold investment opportunities. The company was founded in the year 1987 and has its headquarters in Mumbai, India. Motilal Oswal allows users to purchase digital Gold at a starting price of INR 1,000. You can purchase 24k pure gold at the best price and keep it safe online.

FinPlay

FinPlay is a game-based investment platform that is designed to bring two exciting themes of fintech and gaming together. Founded by two IITians, FinPlay allows users to play games and earn FinCash awards, which they can redeem to get financial products at discounted rates on the platform, along with other rewards like Amazon coupons and more.

Founded in September 2021, FinPlay is currently led by Ganesh Kumar Anegondi (Co-founder and CEO) and is built to simplify long-term investing and is, therefore, great for first-time investors. The platform currently lists digital gold as the only asset but is planning to launch mutual funds and stock baskets in the upcoming months. "Democratise finance and wealth management for millennials in India" is currently the mission of FinPlay. The startup further aims to emerge as the go-to wealth platform for millennials who are just starting with their wealth creation journey.

FinPlay currently helps users with the opportunity to buy digital gold. FinPlay extends easy ways to invest in 24K, 99.99% Pure Gold, which is 100% safe and secure and promises transparent pricing. The company also enables its customers and other investors to buy and invest in digital gold starting from Re 1 and is gearing up to become a major company that would let the users invest in gold.

Zerodha

Zerodha is India's largest retail stockbroker by active client base and trading volume. It is a discount broker, meaning it charges lower commissions than traditional brokers. Zerodha is known for its innovative trading platforms and its focus on customer service.

By expanding its reach into the e-hold trading industry, Zerodha has added another layer of innovation to its portfolio. It is a ground-breaking bargain brokerage. With a track record of disrupting the financial sector, it now provides a stable investment environment for digital gold. The platform's commitment to customer satisfaction is reflected by the multitude of cutting-edge tools it provides, which equip users with the knowledge they need to make sound decisions and pave the way for an interesting and profitable e-gold investment experience.

Tanishq

Tanishq is a leading Indian jewelry brand in the Tata Group. It is known for its high-quality jewelry and its commitment to ethical sourcing. Tanishq has a wide range of jewelry products, including gold, diamond, and platinum.

Tanishq is also a pioneer in the digital gold space. It was the first jewelry brand in India to offer digital gold to its customers. Tanishq's digital gold product, Tanishq e-gold, is powered by SafeGold, a digital gold provider regulated by the Securities and Exchange Board of India (SEBI).

You can sell or swap the gold at any of its 350+ outlets in India anytime. There are no additional fees for the app's locker or transaction processing. It is one of the most reputable sites for purchasing gold in physical and digital forms because it is a Tata Group firm. Tanishq is a trusted brand with a long history of providing high-quality jewelry and ethical sourcing. Its digital gold product, Tanishq e-gold, is a convenient and affordable way for investors to invest in gold.

FAQs

Can people buy E-Gold in India?

Yes, you can buy digital gold in India through various digital gold investment platforms.

Is digital gold better than physical gold?

Digital gold is a better option than physical gold as it ensures safety and has no additional storage costs.

What is E-gold in India?

E-gold is held electronically in the demat form and can be freely converted into physical gold.

Which is the best country to buy gold?

If you are wondering about the best country to buy gold, it is Dubai, UAE.

What is digital gold?

Digital gold or e-gold is a virtual form of gold investment that one can make. The users can easily buy e-gold via the best gold investment apps available online and have it stored in secured vaults.

Which are the best Digital Gold Investment platforms in India?

Some of the best Digital Gold Investment platforms in India are:

• Paytm
• Phonepe
• Google Pay
• Groww
• Jar
• Airtel Payments Bank
• Amazon
• HDFC Securities
• Motilal Oswal
• FinPlay
• Upstox
• Zerodha
• 5paisa
• Tanishq