As Akshaya Tritiya gets closer, many people in India are planning to buy gold. While traditional gold is still popular, digital gold is becoming a convenient option for small and first-time investors.
Paytm is promoting its Paytm Gold as an easy way to buy gold without visiting a store. Users can purchase 24-karat digital gold directly from the Paytm app, starting at just Rs 51. The price is based on live market rates, so users always buy at current prices.
The gold bought on the platform is backed by real physical gold. It is stored securely in insured vaults through MMTC-PAMP, which is a joint venture involving a Government of India undertaking. This means users do not have to worry about storage or safety.
One of the biggest advantages of digital gold is flexibility. Users can buy or sell gold anytime on the app. The money is credited directly to their bank account when they sell. This makes it easier compared to selling physical gold.
How to buy Paytm Gold:
- Open the Paytm app and search for ‘Paytm Gold’
- Choose ‘Buy Gold’ for a one-time purchase
- Check the live price (inclusive of GST)
- Enter the amount you want to invest
- Complete payment via UPI, net banking, or debit card
- The purchased gold is securely stored in insured vaults, with confirmation sent via SMS and email
Redeem your Paytm Gold in cash:
- Open the Paytm app and search for ‘Paytm Gold’
- Tap on ‘Withdraw Gold’ from the homepage
- Select ‘Get Cash in Bank’
- Choose to sell in ‘Rupees’ or ‘Grams’ and enter the amount or quantity
- Pick your preferred payout method, UPI ID or bank account
- Confirm the transaction with OTP
- The amount is instantly credited to your account
Paytm also offers a Daily Gold SIP feature. This allows users to invest small amounts regularly and slowly build their gold savings over time. It works like a disciplined saving method without needing a large one-time investment.
To attract users during the festive season, Paytm is also offering additional benefits on higher gold purchases. Another feature allows users to earn small amounts of gold through everyday transactions like bill payments and recharges, which can later be converted into digital gold.
Digital gold is gaining popularity because of its simplicity and low entry cost. However, users should note that it is not regulated like some other financial products in India. It is always better to invest carefully and understand the platform before putting in large amounts.
