The new virtual money concept, Gold is the bitcoin (BTC) digital crypto-currency using blockchain technology.
During this time 81% of the total transactions were conducted by male users, compared to 19% of females who bought digital gold.
Digital gold platform SafeGold witnessed record-high traffic across all platforms this festive season with over 5.7 million users transacting in digital gold. Interestingly, 81% of the total transactions were carried out by male users as compared to 19% of females who bought digital gold during this time. The majority of this traffic was driven by Tier-1 cities, with Mumbai leading the way, followed by Hyderabad and Delhi.
On October 22, between 7 pm and 8 pm, the maximum traffic was seen on Dhanteras. By gifting and saving in Digital Gold, users can save more than ₹1,95,00,000 in making charges as per the average industry standard. 44% of all digital gold transactions were completed through UPI, with the largest ticket size being ₹5,50,000. Gen-Zs and Millennials among the 18-34 age group led the festive boom.
According to a Mint report, digital gold is a way to invest in physical gold. It is like regular gold, which can be purchased online and stored in vaults insured by the seller on behalf of the customer. You can buy or sell 24 karat hallmark gold for as low as ₹1.
Digital gold can be accessed through digital channels. Platforms like SafeGold enable customers to buy, sell and receive Vaulted Gold at low ticket sizes round the clock with the tap of a button. While physical gold is usually bought for jewelery purposes, it cannot be considered as an investment option. This includes a number of charges like making charges, storage cost, etc., which are non-refundable to the customers, making it a liability rather than an asset.
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