Want to invest in gold on Paytm? Follow these steps
Paytm, India's leading digital payments platform, has changed the way we invest in gold. The company's innovative service, Paytm Digital Gold, allows users to buy, store and sell gold electronically. The approach takes away the worries of storage costs and purity that come with physical gold. You can start investing with as little as ₹1. Let's have a look.
How to buy the gold?
Log in to Paytm app and type 'Gold' in the search bar. Buy gold by specifying an amount in INR or selecting the quantity in grams. Next, check the current gold price displayed on the app. You can pay a lumpsum amount or start a SIP (Systematic Investment Plan). Choose your payment method like UPI, net banking, and debit/credit cards. Once paid, the gold will be stored in insured vaults. You will also receive a confirmation via SMS and email.
A secure KYC process
To further secure gold holdings on Paytm, the company has also introduced a Gold KYC process. This process has been designed to ensure that only the account holder can manage transactions involving their digital gold. The KYC process requires you to provide PAN and Aadhaar details, upload a live photo, and share bank account information. Once done, you can link up to four additional bank accounts for transactions.
