Here's how to buy and redeem digital gold on Paytm
What's the story
Digital gold investment is a new-age financial instrument that has gained significant traction among individuals seeking to diversify their investment portfolio.
Paytm, a leading digital wallet and e-commerce platform, provides a convenient avenue for Android device users to purchase, store, and redeem digital gold.
This article offers a comprehensive step-by-step tutorial on how to effortlessly navigate the process.
Logging in
Starting with digital gold on Paytm
Launch the Paytm app on your Android device and log in to your account.
Navigate to the "All Services" section, typically located on the home screen.
In the search bar, type "Gold" and choose the Gold option from the search results.
This will take you to the Gold section where you can begin the purchase process.
Buying gold
Purchasing your first digital gold
Select either "Buy in Amount" or "Buy in Grams" in the Gold section, depending on your preference.
Input the desired amount in rupees or weight in grams. The minimum investment is ₹1.
Verify the current gold price, which includes GST, before proceeding.
Make your payment using UPI, net banking, debit card, or credit card.
Once you make the payment, your gold is safely stored in MMTC-PAMP insured vaults.
Viewing and selling
Managing your digital gold investments
To view your gold balance, tap the Locker icon in the Gold section.
To sell, click Sell Gold, enter the amount or weight, and sell at prevailing market prices.
Redeem digital gold for physical once you possess a minimum of one gram.
Transactions might necessitate KYC verification, including submission of PAN details for security.