Digital gold has revolutionised the way individuals invest in gold. Unlike traditional methods, which involve physical purchase and storage hassles, buying digital gold online offers a convenient, secure, and innovative approach. This article explores the world of digital gold, highlighting its benefits and delving into the unique features of platforms like Spare8, making it easier than ever to buy digital gold and unlock its financial potential. Digital Gold: A Secure and Accessible InvestmentDigital gold allows you to buy digital gold online and have it securely stored by a trusted provider, eliminating the concerns associated with physical gold ownership. These secure vaults, like those managed by our partner Augmont, undergo frequent independent audits to ensure the highest security standards. This method offers several advantages:<ul><li>Convenience: Buy digital gold online anytime, anywhere, with just a few clicks. No need to visit a physical store or worry about safekeeping.</li><li>Security: Your gold is stored in insured vaults, protected from theft or loss.</li><li>Accessibility: Buy digital gold with minimal investment amounts, often starting as low as Rs.10, making it accessible to a larger audience compared to traditional gold purchases.</li><li>Real-time Pricing: Invest based on live market rates displayed transparently on the platform.</li></ul> Understanding Gold Leasing: Earning Returns on Your Digital GoldThe gold leasing feature offered by platforms like Spare8 adds another dimension to your investment strategy. You can lease your digital gold to verified jewellers for a predetermined period, typically ranging from 3 to 6 months. This allows you to earn a return on your gold holding, similar to how you earn interest on a traditional financial deposit. Here are some of the primary benefits of gold leasing:<ul><li>Greater Liquidity: Unlike Sovereign Gold Bonds (SGBs), Spare8+ leases offer the flexibility to cash out your investment at the lease term's end. This provides greater control over your finances and allows you to reinvest or take physical delivery of your gold.</li><li>Diversification and Increased Returns: Gold leasing transforms your gold from a static asset to an income-generating one. When combined with the natural appreciation of gold value, investors can potentially earn returns of up to 15-16% annually over a long-term horizon.</li><li>Accessible Investment: Start leasing with minimal investment amounts, making it a viable option for everyone, regardless of financial background.</li><li>Fast and Easy Setup: Lease your gold within 45 seconds, eliminating the need for a Demat account or complex financial know-how.</li></ul> How Spare8 Enhances Your Digital Gold ExperienceSpare8 goes beyond simply allowing you to buy digital gold online. It offers a comprehensive ecosystem designed to make your digital gold journey seamless and profitable. Here's what sets Spare8 apart:<ul><li>User-Friendly Platform: A user-friendly interface allows for easy buying, selling, and leasing of digital gold.</li><li>Security and Transparency: Robust security measures protect your investments, and transparent transaction history provides complete control over your portfolio.</li><li>Round-up Savings (Android Only): This unique feature helps you accumulate digital gold effortlessly by automatically rounding up your daily expenses.</li><li>Instant Liquidity: Access your investment anytime with instant cash conversion options.</li><li>Gold Leasing with High Returns: Earn up to 16% p.a. on your leased gold, significantly higher than traditional investment options like SGBs or FDs.</li><li>Ecosystem with Partners: Spare8 integrates with partners like Kalyan Jewellers, allowing you to use your digital gold holding to create beautiful jewellery pieces.</li></ul> The Process of Gold Leasing on Spare8: Simple Steps, Big Rewards Leasing your gold on Spare8 is a straightforward process:<ul><li>Login to your Spare8 account and navigate to the "Gold Leasing" section.</li><li>Choose the amount of gold you wish to lease. (Remember, you can start with as little as 0.5 grams)</li><li>Select the desired lease term. (Typically ranging from 3 to 6 months)</li><li>Review and confirm the lease agreement. This will clearly outline the expected returns.</li><li>Sit back and relax! Your gold starts generating returns, calculated daily and credited to your account at the end of the month.</li></ul> Why Choose Spare8 for Digital Gold and Leasing?Spare8 is your one-stop shop for a secure, profitable, and hassle-free digital gold experience. Here's why Spare8 stands out:<ul><li>Pioneering Platform: Spare8 is Asia's first platform to offer gold leasing within a digital gold ecosystem. This innovative approach allows you to unlock the full potential of your gold investment.</li><li>Focus on Accessibility: Spare8 removes the barriers to entry traditionally associated with gold investment. With minimal investment amounts, user-friendly features, and no complex paperwork, Spare8 makes digital gold accessible to everyone.</li><li>Security and Transparency: Spare8 prioritises the safety of your investments. Multiple security layers, frequent audits, and transparent transaction history ensure complete peace of mind.</li><li>Seamless Ecosystem: Buy digital gold online, lease it for returns, and even use it to create beautiful jewellery with partnered brands - all within the Spare8 platform.</li></ul> So, ditch the traditional methods and embrace the future of gold investment. Buy digital gold online with Spare8!

This article explores the world of digital gold, highlighting its benefits and delving into the unique features of platforms like Spare8, making it easier than ever to buy digital gold and unlock its financial potential

Buy Digital Gold Online: Your Gateway to a Secure and Profitable Future

Digital gold has become an increasingly popular investment option, offering investors an easy way to invest in gold without the hassle of buying and storing physical gold. However, with the rise of digital platforms offering digital gold, knowing which platform to choose can be challenging. Before investing in digital gold on a platform, it is essential to consider several factors to ensure that your investment is secure and offers good returns. In this blog, we will explore the top five things to consider when choosing a <a target="_blank" rel="noopener noreferrer" href="https://www.spare8.com/buy-digital-gold">digital gold buying platform</a>, helping you make an informed decision and achieving your investment goals. An Investor's Guide to Consider Before Choosing Digital Gold Platforms Consider these five factors before buying digital gold through any platform:<ul><li>Security: When it comes to buying digital gold, security should be a top priority. It is crucial to choose a platform that provides a high level of security to ensure the safety of your investment. Without proper security measures, your digital gold can be vulnerable to cyber threats, resulting in financial loss.</li><li>One platform that offers robust security measures is Spare8. Spare8 ensures the security of your digital gold through various measures, including SSL encryption, two-factor authentication, and secure storage options.</li><li>SSL encryption is a security protocol that encrypts data between your device and the server, making it unreadable to anyone who intercepts it. This ensures that your transactions and personal information remain private and secure.</li><li>Two-factor authentication provides an extra layer of security by requiring users to provide two forms of authentication before accessing their accounts. This can include a password and a unique code sent to your phone or email.</li><li>Secure storage options are also essential when it comes to digital gold. Spare8 offers secure storage options that protect your digital gold from theft or loss. The platform uses state-of-the-art security technology and advanced protocols to keep your digital gold safe.</li></ul> Fees:Fees are a critical consideration when it comes to buying, selling, and storing digital gold. The fees charged by different platforms can significantly impact your investment returns over time. It is, therefore, essential to understand the fees charged by various platforms and choose one that offers competitive fees and transparent pricing.Some platforms charge higher fees than others, and this can negatively affect your investment returns. Therefore, conducting research and comparing fees charged by different platforms is crucial to make an informed decision. When selecting a platform for buying, selling, and storing digital gold, look for one that offers competitive fees for these services. Competitive fees help maximise investment returns while minimising the overall cost of investing in digital gold. In addition to competitive fees, choosing a platform that provides transparent pricing is crucial. Transparent pricing means the platform clearly outlines all fees and charges associated with buying, selling, and storing digital gold. This ensures that you have a clear understanding of the costs involved in your investment and can make informed decisions accordingly.To consider the fee aspect of buying digital gold, Spare8 is a platform that takes care of every aspect and is designed to cater to both new and experienced users, making it a suitable option for users seeking a transparent and cost-effective platform for investing in digital gold. Reputation:Before investing in digital gold, it is essential to consider the reputation of the platform you plan to use. The reputation of a platform can significantly affect the safety and reliability of your investment. Therefore, it is essential to do your research and gather information on the platform's reputation before investing your money. To ensure the platform is reputable and trustworthy, you should look for reviews and feedback from other users and industry experts. Reading reviews and feedback from other users can give you a good idea of their experiences with the platform, including the level of security, customer support, and overall satisfaction. Additionally, you should also look for industry experts' opinions on the platform's reputation. Industry experts can provide valuable insights into the platform's security, transparency, and trustworthiness, which can help you make an informed decision. Reputable platforms typically have a strong track record of providing reliable and secure services to their users. They prioritise the safety and security of their users' investments and provide transparent and clear communication about their services. Liquidity:When buying digital gold, it is crucial to consider the liquidity of the platform you plan to use. Liquidity refers to the ease of buying and selling an asset on the platform. A liquid platform allows you to quickly and easily buy and sell digital gold, which is essential if you need to access your investment quickly. A liquid platform typically has many buyers and sellers actively trading on the platform, making it easier to execute trades quickly. This means that you can easily sell your digital gold for cash or other assets when you need to without experiencing significant delays or liquidity issues. On the other hand, an illiquid platform has fewer buyers and sellers, making it more difficult to execute trades quickly. This could result in delays when you need to sell your digital gold, negatively impacting your investment returns. Customer Support:When selecting a platform to invest in digital gold, choosing one that offers excellent customer support is crucial. Having a reliable point of contact can help you quickly address any issues or concerns that you may have, ensuring a smooth investment experience. Look for a platform with responsive customer support, such as Spare8 that is available via multiple channels, including email, phone, and chat. This ensures that you can easily reach out to their support team and get timely assistance whenever needed. A responsive and knowledgeable support team can also help you navigate any technical issues you may encounter while using the platform, ensuring your investment experience is seamless and hassle-free. ConclusionInvesting in digital gold can be a great way to diversify your portfolio and protect your wealth. However, choosing the right platform is crucial to ensure a safe, reliable, and profitable investment experience. When selecting a platform to buy digital gold, it is essential to consider factors such as security, fees, reputation, liquidity, and customer support. You can choose one that meets your investment goals and preferences by researching and comparing different platforms. Remember always to do your due diligence and invest only what you can afford to lose. With the right platform and a well-informed investment strategy, you can successfully invest in digital gold and potentially reap significant rewards in the long term. Don't wait any longer - begin your <a target="_blank" rel="noopener noreferrer" href="https://www.spare8.com/buy-digital-gold">digital gold investment</a> journey with the Spare8 app today!

Looking for the best digital gold buying platform? Then consider these 5 points before choosing the right digital gold investment platform.

Top 3 Things To Consider An In The Platform Before Buying Digital Gold

Are you interested in investing in gold but feel intimidated by the physical ownership and storage obligations? Fear not, as there is a solution: digital gold. This investment option, also referred to as gold-backed cryptocurrencies, allows you to purchase and trade gold electronically, providing the convenience of investing in gold without the hassle of physical ownership or storage. But is it a wise investment choice? This article will explore the concept of digital gold and examine its advantages and disadvantages, enabling you to make an informed decision about whether to add it to your investment portfolio. Digital gold: Is it a wise investment?While digital gold investment does allow you to have ownership of the physical metal, it should be noted that it does not guarantee any returns or interest, much like owning physical gold. To gain a more comprehensive understanding of this potential investment option, it is advisable to continue reading on and exploring the advantages and disadvantages of <a target="_blank" rel="noopener noreferrer" href="https://www.spare8.com/buy-digital-gold">investing in digital gold</a>. Pros of investing in digital gold:<ul><li>Accessibility and convenience: One of the primary advantages of investing in digital gold is the accessibility and convenience it offers. With digital gold, you can buy and sell gold easily from anywhere in the world without the need for physical ownership or storage. This convenience makes it an attractive investment option for those who prefer electronic transactions over traditional forms of gold investing.</li><li>Low transaction costs: Compared to traditional forms of gold investing, digital gold has lower transaction costs. The fees for buying and selling digital gold are generally lower than the fees associated with purchasing physical gold. This makes it a cost-effective investment option for individuals who want to invest in gold but do not want to pay high fees.</li><li>Transparency: Digital gold transactions are transparent and can be easily tracked. Every transaction is recorded on a distributed ledger, which ensures transparency and eliminates the need for third-party intermediaries. This transparency makes digital gold a trustworthy investment option, as investors can monitor their investments in real-time.</li><li>Security: Digital gold is stored in secure digital wallets that use advanced encryption techniques to protect investors' assets. This eliminates the risk of physical theft or loss associated with owning physical gold. Digital gold also offers protection against inflation, as its value is tied to the price of physical gold.</li><li>Liquidity: Digital gold investments is a highly liquid asset, meaning it can be easily converted into cash when needed. This makes it an attractive investment option for individuals who want to have the flexibility to sell their investments quickly in case of an emergency.</li></ul> Cons of Investing in Digital Gold:Volatility:One of the most significant disadvantages of investing in digital gold is Volatility. The value of digital gold can change dramatically based on market conditions, supply and demand, and other variables. This means that if investors invest in digital gold during a period of severe volatility, they may suffer significant losses. Digital gold is not immune to market crashes or other occurrences that might trigger sharp decreases in its value. Investors should thoroughly examine their risk tolerance before investing in digital gold. Counterparty risk:Investors that invest in digital gold are exposed to counterparty risk. This means that investors rely on the issuer of digital gold's integrity and solvency. Investors may lose their investment if the issuer goes bankrupt or is unable to pay its commitments. This risk is amplified in the case of digital gold because there is no tangible asset to recover losses. Lack of regulation:Digital gold is not subject to regulation by governments or financial institutions like the RBI or SEBI, resulting in the absence of safeguards to protect the interests of investors. Consequently, investing in digital gold may be a risky option due to the likelihood of fraudulent activities. Digital gold issuers may make false claims about the value of their gold or engage in other fraudulent acts that result in losses for investors. Therefore, it is crucial to purchase digital gold from reliable applications like Spare, which has partnered with Augmont Gold. Limited acceptance:While digital gold is becoming more popular, it is not yet commonly accepted as a payment method. This implies that when it comes to transferring their digital gold investments into cash or utilising them to make purchases, investors may have restricted options. Because of the lack of acceptance, digital gold may be less liquid than other investment options, as it may be challenging to locate buyers when selling. Technical expertise:Investing in digital gold necessitates some technical knowledge since investors must understand blockchain technology and digital wallets. This can be difficult for people who are unfamiliar with these notions. Investors who lack this understanding may be vulnerable to scams or may unintentionally lose their digital gold due to technical mistakes. Nonetheless, interested parties can invest in applications such as Spare8 because they are designed to be simple to use by all generations, but basic app knowledge is still required. Conclusion:Those looking for a convenient and accessible alternative to investing in precious metals will definitely find <a target="_blank" rel="noopener noreferrer" href="https://www.spare8.com/buy-digital-gold">digital gold investment</a> to be a great and useful investment option. It provides low transaction costs, transparency, and liquidity, making it appealing to many investors. Yet, digital gold is volatile in the market, unregulated, and bears counterparty risk. As with any other investment, do your research and get competent counsel before investing in digital gold. Furthermore, diversifying your investment portfolio may be useful to reduce risk and ensure that your investments are safeguarded in the event of a downturn in any one market. For comprehensive information on digital gold, visit Spare8.com's blogs. Download the app now to begin your micro-investing journey!

Are you wondering is it a safe investment option? Digital gold is one of the best investment option. Read all in details.

Is Digital Gold a Good Investment?

If you've been searching for a safe and effortless way to invest in digital gold, you're in luck. Spare8 is the ultimate digital gold investment app that's changing the game when it comes to saving and investing. No longer is investing reserved only for the wealthy, as Spare8 makes it accessible to everyone with its automated investment option. With a user-friendly interface and innovative features, Spare8 makes daily savings and investments a breeze, making it easier than ever to build your wealth. In this blog, we'll take a closer look at Spare8, one of the best digital gold investment options available. So keep reading to learn more! Automated Investment Option - Spare8Spare8 is a revolutionary micro-investment platform specifically designed to help Indian millennials cultivate the habit of investing in gold, regardless of their age or income level. By enabling you to save and invest as little as ₹1 in less than 5 minutes, Spare8 makes it easy and accessible for anyone to start investing in their financial future.One of the standout features of Spare8 is its Auto investing option, which allows you to set up a regular investment schedule that fits your financial goals and objectives. With AutoInvesting, you can invest in gold every day without having to do so, making the process effortless and convenient manually. Plus, with Spare8's rewards program, you can earn rewards for investing regularly, making it even easier to stay on track and build a savings habit. Let’s now understand in detail how it works. How Does Spare8 - Digital Gold Investment App Work?Spare8 is an exceptional app for saving gold, which provides a convenient feature of automatic investment in 24k digital gold while carrying out routine online transactions via cards, net banking, or UPI. The app simplifies the investment process by rounding off the transaction amount to the nearest 10 Rupees and investing the difference in digital gold. As an illustration, if a transaction amounts to Rs.93, Spare8 will round it off to Rs.100 and invest the remaining Rs.7 in digital gold. Experience the quickest onboarding process for an automated savings and investment application.By simply providing your name, gender, mobile number, and email ID, you can sign up and create an account without the need for any documents or KYC. Furthermore, you can easily set up UPI autopay from any of your preferred UPI apps like GooglePay, Phonepe, BHIM, or Paytm account.Consider investing each time you make a purchase. With Spare8, you can start saving in gold with just Rs.1, regardless of the amount. By scanning QR codes, swiping your cards, and spending money without worry, Spare8 invests your spare change for you. With our 100% liquid options, you can purchase 24-karat gold with each transaction.Discover where your money gets invested. Your funds will be directed towards 24 karats Digital Gold, held in secure digital vaults and safeguarded by independent trustees . Spare8 has collaborated with Augmont Gold and Paytm, as their digital gold partners. Why should you consider investing in Digital Gold?Any finance blog or magazine will be quick to tell you that gold savings is a cultural tradition that has been followed for centuries, and it is considered a safe and valuable investment option. Over time, gold has proven to retain its value and serve as a hedge against inflation and economic instability. With the advent of technology, digital gold investment has become an equally genuine option for investors. Buying digital gold is as secure as purchasing physical gold, and it provides the added benefit of not requiring a hefty amount or a locker for security. Spare8 is a platform that enables users to invest in digital gold with ease, allowing them to buy digital gold with as little as one rupee. The platform also guarantees the safety and security of the gold purchased. Significant benefits of digital investing with Spare8. Spare8 offers a significant benefit to investors who purchase digital gold in the form of flexibility. With digital gold, investors have the freedom to buy and sell their holdings at their convenience without the constraints that come with physical gold. This flexibility allows investors to manage their investments according to their individual preferences and requirements. Spare8 offers another beneficial feature where users can pause their debits anytime they want. With just a click of a button, users can pause their round-ups, and debits will stop immediately. When they are ready to resume investing, they can easily resume their round-ups again. Digital investing provides users with greater control and flexibility over their investments. Another benefit offered by Spare8 is the ease of withdrawals. With no lock-in periods or withdrawal charges, users can quickly withdraw their gold savings whenever they want. All they need to do is provide their bank details, and the money will be credited to their account instantly. This feature provides users a hassle-free and convenient way to manage their investments. Are you wondering why Spare8 should be your preferred micro-investment app for investing in digital gold?Well, here are a few reasons to consider:Firstly, Spare8 is one of the digital investing apps that was launched in India. It has been in the market for a while and has a reputation for providing reliable investment services.Secondly, the app uses UPI 2.0 technology, which makes it incredibly user-friendly and accessible to investors. This technology enables easy and hassle-free investments, making it ideal for beginners and seasoned investors. Thirdly, Spare8 allows users to buy, sell, and hold 24k digital gold securely. The app ensures the safety and security of its users' digital investments, giving them peace of mind.Lastly, the app will soon offer various other asset classes for users to invest in, providing them with a wider range of investment options. Users can choose the asset class that aligns with their investment goals and invest as they spend, making it a seamless experience. ConclusionSpare8 is a highly recommended platform for buying digital gold. It offers an automated investment option that makes investing in gold accessible, effortless, and rewarding. With its user-friendly interface and reliable services and finance blogs, Spare8 caters to both beginners and seasoned investors. Whether you're looking to start building your wealth or secure your financial future, Spare8 has everything you need. So why wait? Sign up today and watch your savings grow with Spare8!

In this blog, we'll take a closer look at Spare8, one of the best digital gold investment options available. So keep reading to learn more! Automated Investment Option - Spare8

Spare8: An Automated Investment Option For Everyone

In recent years, microfinance has emerged as an effective way to provide financial services to the unbanked and underbanked population, especially in developing countries like India. With the widespread adoption of smartphones and the internet, microfinance apps have become a popular way to access financial services on-the-go. These apps not only offer convenient access to financial products but also provide a way for individuals to become financially self-sufficient. In this blog, we will explore the top three microfinance apps useful for people looking for quick and easy access to financial services. Whether you're an entrepreneur looking to start or expand a business, a student needing a loan for education, or someone facing an unexpected financial crisis, these microfinance apps can be a valuable resource to help you achieve your financial goals. Top Microfinance Apps in IndiaThe emergence of microfinance apps, also referred to as "instant personal loan apps," has revolutionised the lending industry, providing a convenient alternative to the time-consuming loan processes of conventional banks that are often subject to strict regulations. To access instant cash, applicants need only provide a few basic details, download the app from Google Play Store, and generate an OTP, thus bypassing the need to resort to local moneylenders who may impose exorbitant interest rates. Typically, microfinance apps offer loans for a one-year term, with interest charged varying on a case-by-case basis. Although minimum and maximum interest rates are specified, the precise rate is determined by the applicant's credit score. If you are seeking an instant personal loan in India, below are some of the best microfinance companies in India that you can consider. MoneyTapMoneyTap is a mobile application that offers fast and easy instant loans to people in India. If you need money quickly, you can download the MoneyTap app and apply for a loan. The application process is simple: first, you need to download the app and register on the website. Then, you'll need to complete the KYC (Know Your Customer) paperwork and wait for final approval. Once your loan is approved, you can access instant credit up to an approved amount of INR 5,00,000. One of the best things about MoneyTap is that the loan application process is hassle-free, and you don't have to go through a lot of paperwork or wait for a long time. Additionally, the app offers flexible repayment options, allowing you to choose a repayment plan that works best for you. The loan can be used for a variety of purposes, including purchasing everyday essentials, indulgences, travel, and other expenses. The app determines the approved loan amount based on your credit score, so having a good credit score can increase your chances of getting a higher loan amount. Spare8Spare8 is your personalized microfinance app that's reshaping the landscape of modern investing. With an intuitive interface, Spare8 empowers enthusiasts to seamlessly convert their spare change into a dynamic catalyst for gold-backed financial growth. Built on the robust UPI 2.0 stack, Spare8 opens the doors to investing with as little as Rs1. Whether you're a newcomer exploring the world of investments or a seasoned investor with a bigger appetite, Spare8 caters to all.With our latest feature, gold leasing being launched, we offer users a remarkable opportunity to earn up to 16% in returns and moreover have been giving incentives to users every time they save.That being said, gold loan against digital gold is still a relatively newer concept that Spare8 has beta tested and is on track to be released to the masses so stay put and tuned for more details. CASHeCASHe is a digital lending platform that provides short-term personal loans to salaried individuals in India. The app-based platform makes it easy for people to apply for loans and get quick access to funds for various financial needs. To apply for a loan, users must provide essential documents such as salary slips, bank statements, address proof, and PAN card, which can be easily uploaded through the app. Additionally, users can check their loan eligibility and interest rates online using a quick calculator, making it easy to determine whether a loan is feasible or not.Once the loan is approved, users can access an amount ranging from ₹5,000 to ₹2 Lakh, with tenures ranging from 15 days to 6 months. This flexibility in loan amounts and tenures enables users to choose a repayment plan that suits their financial needs. Repayments can be made through a bank transfer or cheque deposit every month, ensuring that users can pay back the loan with ease. KreditBeeKreditBee is an instant personal loan app designed specifically for young professionals in India. With KreditBee, users can obtain loans of up to ₹1 Lakh to meet their financial needs quickly and conveniently. One of the biggest advantages of using KreditBee is that the entire loan process is 100% online, making it easy and hassle-free to apply for and receive a loan. Users can apply for a loan directly from the app without having to visit a bank or go through any lengthy paperwork. Once the loan is approved, the disbursement process is quick, with the amount being directly credited to the user's bank account within 15 minutes. This makes KreditBee an excellent option for those who need funds urgently. DhaniDhani is a mobile app that offers personal loans to customers with an instant disbursement feature. The app can be downloaded for free, and the loan application process is quick and simple. Customers can apply for a personal loan of up to ₹15 lakhs from anywhere and at any time, with the loan amount disbursed directly into their bank account. The interest rates start at 12%, making the app an attractive option for those in need of quick and hassle-free access to funds. All that is required to apply for a loan is the customer's Aadhaar card number and desired loan amount. With its convenient and user-friendly interface, Dhani is a popular choice for those seeking financial assistance on the go. NIRANIRA is a leading FinTech company in India that offers a unique line of credit to salaried professionals. The personal loan provided by NIRA is in the form of a line of credit, which offers a flexible credit limit ranging from ₹3,000 to ₹1 lakh. This line of credit can be used as per your financial requirements, and you can withdraw a minimum of ₹5,000 each time. The loan tenure ranges from 3 months to 1 year, giving you ample time to repay the borrowed amount. The interest rate applied to the loan amount depends on the amount borrowed and when it is repaid. With its innovative and customer-friendly approach, NIRA is quickly becoming a popular choice for salaried professionals seeking hassle-free access to credit. ConclusionMicrofinance apps have emerged as a powerful tool for advancing financial inclusion and reducing poverty worldwide. With the continuous evolution and expansion of technology, we can anticipate the emergence of even more innovative solutions in the years to come.If you're seeking to improve your financial situation, the top five microfinance apps highlighted in this article can offer excellent options. These apps can help you start a small business, save money for unexpected expenses, or simply manage your finances more effectively.For additional informative financial content, be sure to check out the blogs available at Spare8.com, which can help you grow your insights. If you're ready to start <a target="_blank" rel="noopener noreferrer" href="https://www.spare8.com/benefits-of-micro-investing-in-digital-gold">microinvesting</a> right away, you can install the Spare8 app without delay.

Nowadays we do need trusted mircofinance apps which can give us instant cash withdrawal. Here are 5 top micro-finance apps.

Top 3 Microfinance Apps That Can Be Useful

In today's world, where everything is going digital, it's no surprise that even gold has taken a new form as "Digital Gold." With the increasing popularity of cryptocurrencies and blockchain technology, Digital Gold has emerged as a modern investment option that appeals to every generation. So, whether you are a millennial or a baby boomer, Digital Gold is a go-to investment option that offers several benefits over traditional gold investments. In this blog, we will delve into the world of Digital Gold, explore its benefits, and understand why it's becoming a popular investment choice for investors of all ages. So, buckle up and get ready to discover the world of <a target="_blank" rel="noopener noreferrer" href="https://www.spare8.com/buy-digital-gold">Digital Gold investment</a>! Digital Gold: A Contemporary Investing Alternative for All GenerationsGold has always been an important symbol of prosperity and legacy in India, with children growing up hearing about its value as a good investment. It not only acts as a hedge against inflation and has lower risks than Indian stocks but also adds diversification to a portfolio and carries significant intrinsic value. However, owning physical gold can be cumbersome and challenging, despite being a popular investment option.Nowadays, people of all generations crave a hassle-free life, prioritising convenience and a seamless user experience. However, investing in physical gold in the form of jewellery, bars, or coins demands attention to details such as storage, safety, and maintenance, which can be tedious. This is where digital gold investment comes in as an ideal choice for every generation seeking easy-to-understand and profitable investment opportunities, particularly in India, where gold holds significant cultural and financial importance.Digital gold investment offers several benefits over traditional gold investment options. It eliminates the hassle of storing and securing physical gold and the need for maintenance. Digital gold can be easily bought and sold on various platforms, making it a convenient investment option. Moreover, it provides investors with a transparent and secure investment platform backed by technology, and the ability to invest in small amounts, making it accessible to all. Top Three Advantages of Investing in Digital GoldHassle-Free Investment Experience with Digital GoldMillennials and Gen-Z are accustomed to a digital-first and easy approach, thanks to their regular use of apps and online platforms that make information and knowledge transparent. They tend to avoid the time-consuming ways of face-to-face interactions and prefer the efficient ways of digital. As digital natives, they show a higher trust in technology solutions, including the availability of digital gold at their fingertips. Digital gold investment provides a hassle-free experience for every generation seeking a convenient investment option. With just a few clicks on a smartphone or computer, investors can buy and sell digital gold without the need for physical storage or maintenance.Moreover, digital gold platforms like Spare8 offer transparency and security, making it a reliable investment option for every tech-savvy individual. Lowering the Barrier to Entry with Digital GoldDuring the COVID-19 pandemic, gold has become an attractive investment option for every generation due to its reputation for stability and resilience. Many people, regardless of their age, have shown interest in investing in gold. However, traditional suppliers often required investors to purchase gold in larger quantities, making it difficult for some to enter the market. Fortunately, digital gold platforms like Spare8 have lowered the barrier of entry by offering fractional quantities of gold that can be purchased digitally. This has led to a surge in demand from millennials and a few Gen-Z, newly introduced in India’s workforce and looking for investment options that can yield future returns and still accommodate their personal expenses. Digital gold has made gold investing more accessible to all generations, as investors no longer need to save a lump sum to purchase gold. The convenience of digital platforms has made it easier for investors to buy and sell gold with just a few clicks on their smartphones or computers. This has proved to be particularly appealing to those who prefer to avoid face-to-face interactions and value the efficiency of digital transactions. Investing at the right price point.Investing in gold has been a tradition for older generations, who prefer buying physical gold on auspicious dates like Akshaya Tritiya or Dhanteras. However, millennials, gen-z, and some from the older generation are more sensitive to the prices of gold and prefer to buy it when prices decline. Digital gold makes spontaneous investments easier, as investors can buy gold at the exact right moment and purchase as much or as little gold as they wish, giving them greater control over their investments. ConclusionAs the world is becoming more and more digitised, technology is evolving at an unprecedented rate. This evolution is not only changing the way we interact with each other, but it is also changing the way we invest our money. Millennials and gen-z, being tech-savvy, are increasingly looking for digital investment tools, and they prefer to manage their investments themselves. Therefore, it is evident that the younger generation is more likely to adopt digital investment tools and eventually make traditional models redundant.The younger generation has started to realise that gold is a profitable investment instrument with long-term gains. However, investing in physical gold can be challenging, and not everyone has the knowledge or resources. Providing them with technology that makes investing in gold digitally accessible and convenient is a smart move. This will suit their preference for holding an asset digitally over physically, and it will enable them to invest in digital gold with ease. In summary, as technology continues to evolve, it is important to adapt to new investment tools to cater to the changing needs of the younger generation. <a target="_blank" rel="noopener noreferrer" href="https://www.spare8.com/buy-digital-gold">Digital gold</a> is a perfect example of such an investment tool that has the potential to make investing in gold easier and more accessible to everyone, regardless of their age or financial expertise.

People are looking for more investment options. Digital gold is one of the best modern investment option for every genre.

Digital Gold: A Go to Modern Investment Option for Every Genre

With the rapid advancements in technology, the world of investing has undergone a significant transformation, making it more accessible and convenient for investors. One such innovation that has gained immense popularity in recent times is the concept of digital gold. Unlike traditional investments in physical gold, digital gold or gold-backed cryptocurrencies provide investors with the ease of buying and trading gold electronically without the need for physical storage. However, it is crucial to exercise caution when dealing with digital gold to avoid potential risks. In this blog post, we will explore some essential pointers that can help you with how to <a target="_blank" rel="noopener noreferrer" href="https://www.spare8.com/buy-digital-gold">invest in digital gold</a> securely and responsibly.How to invest safely in Digital Gold? Here are some steps that new and aspiring investors can follow to safely begin their micro-investing journey in digital gold: Choose a reputable platform.Selecting a trustworthy platform or exchange to trade your digital gold is a vital step in safeguarding your investments. With numerous options available, it is essential to conduct thorough research and choose a regulated platform that has a solid reputation and has been operational for a substantial period. One such platform is Spare8, regulated by the renowned financial authority Augmont Gold, which adheres to specific standards to minimize the risk of fraud or hacking. Opting for a platform with a good track record can also instill confidence in the safety of your investments. Do your research.Before investing in digital gold, it is essential to do your research on the platform, the gold backing the digital asset, and the market trends. Conducting thorough research can help you understand the risks involved and have a plan in place for your investments. You should research the platform's security measures, such as two-factor authentication and cold storage, to ensure that your investments are protected. Researching the gold backing the digital asset can help you ensure that it is reputable and high-quality. Additionally, keeping an eye on latest market trends can help you determine when it may be a good time to buy or sell your digital gold. Use secure payment methods.To safeguard your digital gold investments, it's crucial to utilize secure payment methods while purchasing. For optimal safety, it's advisable to use trusted payment options such as credit cards, bank transfers, or reputable UPI apps like Paytm and Phonepe, instead of unfamiliar platforms. Apps, like Spare8, have collaborated with secure payment gateways, which offer an extra layer of protection and can help prevent fraudulent activities. Store your digital gold safely.After acquiring digital gold, it's crucial to store it securely in a digital wallet. A digital wallet is a software application that saves your digital assets and facilitates sending and receiving of digital gold. Opting for a trustworthy app such as Spare8, known for its secure reputation, is vital. It's also advisable to use robust passwords and two-factor authentication to safeguard your wallet from hacking attempts. Lastly, regularly backing up your wallet is essential to ensure that you can recover your investments if a loss occurs. Diversify your portfolioAs with any investment, diversification is key to minimising your risk. While investing in digital gold can be an attractive option, it is important to diversify your portfolio to protect your investments. Consider investing in other assets, such as stocks, bonds, and real estate, in addition to your digital gold investments. Diversifying your portfolio can help balance your investments and ensure that your investments are protected in the event of a downturn in any one market. How to start investing safely in Digital Gold with Spare8?Spare8 is an innovative app that offers a convenient and effortless way to save and invest in digital gold. With Spare8, you can automatically buy digital gold whenever you make a digital transaction using your cards, net banking, or UPI. The app works by rounding off your transaction amount to the nearest 10 Rupees and investing the rounded-up change into 24k digital gold. This means that every time you make a digital transaction, you are also investing in a safe and secure asset.Let's take an example to illustrate how Spare8 works. Suppose you are making an online purchase for Rs. 93 using your digital payment method. Spare8 will automatically round off the transaction amount to the nearest 10 Rupees, which in this case is Rs. 100. The difference of Rs. 7 between the actual transaction amount and the rounded-up amount will be automatically invested in authentic digital gold. This means that you will be able to accumulate gold savings over time, without having to make any additional effort or take on any extra expense. To get started with Spare8 and begin investing your spare change into digital gold, you can follow these simple steps: Download the app: The first step is to download the Spare8 app from the app store and install it on your device. The app is available for both iOS and Android devices and can be easily downloaded from the respective app stores. Create an account: Once you have downloaded the app, open it and create an account by entering your name, phone number, and email address. After creating an account, you can log in to the app using your phone number and email. Link your digital wallet: To start investing in digital gold, you need to link your digital wallets such as GPay or PhonePay to your Spare8 account. This will allow for seamless transactions and ensure that your spare change is automatically invested into digital gold. Automated micro-investment: Spare8 app automatically rounds off your transaction amount to the nearest 10 Rupees and invests the rounded-up change into 24k digital gold. This means that you don't have to worry about manually investing your spare change as the app takes care of it automatically. Track your investment: You can monitor your investment in digital gold by visiting the "Portfolio" section of the app. This section displays the current value and performance of your investment, allowing you to track your progress and make informed investment decisions. ConclusionInvesting in digital gold is a convenient and accessible way to invest in precious metals. However, it is crucial to take certain precautions to ensure that you invest safely in digital gold. By selecting a reputable platform such as Spare8, conducting thorough research, utilizing secure payment methods, storing your digital gold securely, and diversifying your portfolio, you can safeguard your investments and minimize potential risks.Spare8 makes it easy to <a target="_blank" rel="noopener noreferrer" href="https://www.spare8.com/buy-digital-gold">invest in digital gold</a> with its user-friendly app. To begin your micro-investing journey in digital gold, download the Spare8 app today.

Don't have so much idea about digital gold investment? Here we have stated few points, which can help you to understand it better.

How to Play Safe with Digital Gold?

For years, it has been a common tradition for Indian families to purchase gold during festivals, special occasions, and weddings, as it is believed to bring good luck and is considered auspicious. However, as demand for gold surges during festive seasons in India, there is a growing trend towards buying digital gold, a virtual method of investing in gold without physical possession. The emergence of digital gold has made it possible to buy and store gold online with just a minimum investment of one rupee and insured vault storage, providing a hassle-free investment option. This blog will explore the top reasons to consider <a target="_blank" rel="noopener noreferrer" href="https://www.spare8.com/buy-digital-gold">investing in digital gold</a>. Why is digital gold a good investment?In today's "online first" ecosystem, digital gold has gained significant popularity due to its numerous benefits for investment purposes. If you are looking to invest in gold, a digital gold platform like Spare8 is the one for you. Don't worry; we'll discuss a number of reasons why you should invest in digital gold.First and foremost, it is crucial to understand that purchasing digital gold is a legitimate process equivalent to buying gold in person. It is an innovative, highly convenient, and secure way to invest in gold through digital mediums like Spare8. Listed below are the top reasons to invest in digital gold. Accessibility:Digital gold is an innovative and modern method of investing in gold that allows investors to access gold markets easily. One of the significant advantages of investing in digital gold is its accessibility. Unlike traditional methods of investing in gold, digital gold does not require investors to store or transport the metal physically. Instead, investors can purchase and hold digital gold through online platforms or mobile applications, making it convenient and accessible from anywhere.The process of investing in digital gold is simple. Investors can purchase digital gold with just a few clicks on their computer or mobile device on Spare8 without visiting a physical location or interacting with a dealer. Moreover, digital gold can be purchased in small denominations, making it more affordable and accessible to a wider range of investors.Once investors have purchased digital gold, they can hold it for as long as they want without worrying about storage or transportation. The digital gold is stored securely in insured vaults and can be accessed through the investor's online platform or mobile application. This eliminates the need for physical storage and reduces the risk of theft or loss. Security:When investing in digital gold, investors usually have the assurance that their investment is backed by physical gold reserves, meaning they have ownership of the underlying asset. This provides a sense of security to investors, as they know that the tangible value of gold supports their investment.In addition, digital gold provides secure storage options that protect against the risk of theft or loss associated with physical gold storage. Physical gold storage can be vulnerable to theft, damage, or misplacement, resulting in significant losses for investors. Digital gold, on the other hand, allows investors to store their gold securely without needing physical storage, reducing the risk of loss or theft. This security aspect makes digital gold a more attractive investment option for those who want to invest in gold without worrying about the potential risks associated with physical storage. Liquidity:Digital gold offers high liquidity, meaning it can be easily bought or sold at any time without the need for physical transfer of the metal. This is a significant advantage over physical gold, which may require time-consuming and cumbersome processes for buying and selling.With digital gold, investors can easily buy digital gold or sell their positions through online platforms or mobile applications with just a few clicks. This allows for quick and easy access to the market, and investors can take advantage of price movements in real time.The high liquidity of digital gold is particularly attractive to investors who want to make short-term investments, as they can easily enter and exit the market as needed. It also makes digital gold a more flexible investment option, as investors can easily adjust their positions in response to changing market conditions or personal financial goals. Overall, the high liquidity of digital gold makes it an attractive investment option for those seeking a convenient and flexible way to invest in gold. Diversification:Diversification is an important investment strategy that involves spreading investments across different asset classes to reduce risk and maximise returns. Investing in digital gold can provide a way to diversify an investment portfolio, as it is considered a tangible asset that can serve as a hedge against market volatility and inflation.Gold has historically been a popular safe-haven asset during economic uncertainty or market instability, as it tends to hold its value even during market downturns. By including digital gold in an investment portfolio, investors can help mitigate the risk of losses in other asset classes and potentially benefit from its value during times of market stress.Furthermore, digital gold offers a convenient and accessible way to invest in precious metals, which may have been difficult or impractical in the past due to physical storage and transportation challenges. As such, digital gold can be an attractive diversification option for investors looking to expand their portfolio into tangible assets beyond traditional stocks, bonds, and mutual funds.Overall, diversifying an investment portfolio with digital gold can help reduce risk and potentially enhance returns by offering a stable investment option backed by the physical metal and serving as a hedge against market volatility and inflation. Transparency:When investing in digital gold, transparency is one of the crucial reasons that investors can enjoy. Digital gold platforms offer a high level of transparency, enabling investors to keep track of the value of their investments in real-time. This allows investors to monitor the fluctuations of the gold market, make informed decisions about their investments, and adjust their positions accordingly. This transparency also provides peace of mind to investors, as they can have confidence that the value of their investment is accurately reflected at all times. In addition, by offering transparency, digital gold platforms like Spare8 help to build trust between investors and the platform, leading to increased engagement and continued investment. ConclusionThe innovation of digital gold has made it possible for anyone to invest in gold easily. Whether you are located anywhere in the world or have a small investment amount, digital gold provides real-time access to market prices, quality assurance, and safety. Additionally, unlike traditional buying and selling gold, digital gold can be sold for its full value within minutes without any hassles. So, why wait? Take advantage of the benefits of <a target="_blank" rel="noopener noreferrer" href="https://www.spare8.com/buy-digital-gold">investing in digital gold</a> on Spare8 today and experience the joy of hassle-free gold investment.

Want to invest in Digital gold? Here are few reasons which will make your investment journey easier.

Reasons To Invest In Digital Gold

The world is currently undergoing a digital revolution, and this transformation has impacted our investment portfolio. Instead of traditional physical investments such as shares, stocks, mutual funds, gold, or real estate, we are now choosing digital investments. The unmatched convenience and flexibility have primarily driven this shift that digital investments offer.However, while considering <a target="_blank" rel="noopener noreferrer" href="https://www.spare8.com/buy-digital-gold">digital gold investments</a>, there are concerns about the associated risks. Although people are not keen on investing in digital gold over physical gold, investors are apprehensive about the potential dangers of investing in digital gold.Therefore, the purpose of this blog is to delve into the risks involved in investing in digital gold and explore strategies to mitigate them. Through this blog, we hope to provide insights that will help investors make informed decisions regarding investing in digital gold investments. Risks Associated With Digital Gold InvestmentsInvesting in digital gold can come with certain risks, so it's important to be aware of them before making any investment decisions. Here are some of the top risks associated with investing in digital gold: Mandatory levy of GSTIt is mandatory to pay GST (Goods and Services Tax) when purchasing gold, regardless of whether it is physical or digital. The seller is obligated to charge a 3% GST on the value of the gold, including digital gold investments. Therefore, it is impossible to avoid GST when investing in gold, irrespective of the mode of investment.The government has mandated the levy of GST on gold transactions to boost revenue and regulate the gold market. Consequently, it is crucial for buyers to consider the GST implication when investing in gold, irrespective of whether it is physical or digital. The seller has a legal obligation to impose the applicable GST on the gold transaction's value, and buyers must account for this cost in their investment decisions. Lack of RegulationInvesting in equity instruments, mutual funds, or any security market investments brings relief to investors as SEBI acts as a watchdog for their investments. Similarly, in the case of bank deposits, the RBI assumes the role of a watchdog. However, it is essential to note that digital gold investments do not have any regulating authority, which can raise concerns regarding transparency, security, and authenticity. When investing in digital gold, the service provider typically purchases and stores it in a secure vault for a limited period. Beyond that period, the gold shall be delivered or sold, and the money will be transferred to the investor's account. However, in the absence of regulators, there is no authority to oversee the entire process, which raises concerns regarding transparency and security. Therefore, investors must exercise caution and due diligence while investing in digital gold. They must verify the credibility of the service provider and the security measures adopted to safeguard their investments. In the absence of regulators, investors should stay informed and vigilant to make informed investment decisions. Limited investment periods in digital gold make it important to stay updated with the terms and conditions of the investment and the reputation of the service provider to avoid any unforeseen risks. Limited periodWhen investing in digital gold, it is crucial to note that the investment can only be made for a limited period. It is not possible to store the gold indefinitely in the vaults provided by the service provider. The platform that offers digital gold investment services holds the gold on behalf of the investors for a specific duration. After the specified period, the gold will be delivered to the investor, or the service provider will sell the gold on their behalf, and the funds will be transferred to their account. Investors should thoroughly understand the terms and conditions of the investment and the duration for which the gold can be stored in the vault. They should also be mindful of the risks associated with investing in digital gold, such as fluctuations in gold prices and the possibility of the service provider defaulting on their obligation to deliver the gold or the funds. Additional chargesWhen investing in gold, investors must take into account the additional charges associated with the purchase and storage of the precious metal. If the gold is to be physically delivered, delivery charges will apply, and the gold will be provided in the form of coins, bars, or jewellery. Converting the gold into these forms incurs making charges, which must also be considered. For digital gold investments, the gold is stored in a secure vault for up to ten years. However, investors must note that storage fees are applicable beyond the first five years of free storage. Therefore, investors must carefully evaluate the costs associated with investing in gold, both physical and digital, before making a decision.It is crucial to consider all charges associated with gold investments, including delivery charges, making charges, and storage fees. Selling LimitationWhile physical gold can be sold without any restrictions at any time, digital gold investments often come with selling limitations. Most digital gold platforms only allow the sale of gold from the platform where it was initially purchased. Additionally, some platforms only open the selling window during specific periods, and the platform reserves the right to open and close the selling window at its discretion. These limitations on selling digital gold can affect liquidity and create difficulties for investors who may need to sell their investments quickly due to changing circumstances.In order to avoid these limitations, investors should carefully consider a platform like Spare8 that is trusted and offers better terms and conditions for investors to easily begin their investment journey. TakeawayDespite the limitations, digital gold investments still offer a range of benefits that make them a worthwhile addition to any investment portfolio. From lower costs to greater convenience, liquidity, and security, there are many reasons to consider <a target="_blank" rel="noopener noreferrer" href="https://www.spare8.com/buy-digital-gold">investing in digital gold</a>.If you're interested in exploring digital gold investments further, Spare8 is a trusted microfinance services provider that offers automated digital gold investment options. With as little as Rs. 10, you can start saving and investing in a disciplined manner.So why not say goodbye to physical gold and embrace the future of investing? Whether you're a seasoned investor or starting out, digital gold could be the perfect addition to your investment strategy. Don't miss out on this exciting opportunity to grow your wealth and achieve your financial goals.

Thinking about to invest in Digital Gold? Here are few facts and risks which you should aware of before investing in Digital Gold.

Top Risks Which Should Be Avoided While Investing In Digital Gold

In Indian culture, gold holds a significant place and is highly valued by families. It serves not only as an investment but also carries cultural significance. Buying gold coins and ornaments during festivals and special occasions is a customary practice. Investing in gold has always been considered a great way to create long-lasting wealth. However, with the introduction of paper money and new financial tools, the trend of buying gold has evolved, and <a target="_blank" rel="noopener noreferrer" href="https://www.spare8.com/buy-digital-gold">digital gold</a> has become a popular option due to its convenience and various benefits.Another investment option is mutual funds, which are managed professionally and invest your money in diverse securities to minimise risks and maximise returns.Nevertheless, despite the popularity of mutual funds, gold remains a preferred investment choice due to its stable value.This has raised the question of whether digital gold or mutual funds are better investment options. In this article, we will explore and compare both investment avenues. Digital Gold vs Mutual Funds - What's the Difference?To understand the key differences between digital gold and mutual funds, it's essential to understand each of these investment options.Investing in a mutual fund involves pooling money from multiple investors to purchase a diversified portfolio of stocks, bonds, or other financial instruments. Professional fund managers use the collected money to buy a range of securities in line with the fund's investment objectives. Investors in mutual funds own shares of the fund, which represent a portion of the total assets held by the fund. Digital gold is an investment in gold that is stored electronically. Third-party providers purchase physical gold and issue digital tokens representing ownership of that gold, which can be traded like other financial assets. Digital gold's value is tied to the price of physical gold and can be a convenient investment option for those who don't want to hold physical gold. You can begin investing in digital gold easily with Spare8, one of the best options available in the market for a hassle-free journey. Now, let's explore the key differences between these two investment options: FeatureMutual FundsDigital GoldDefinitionA type of investment fund that pools money from multiple investors to invest in a diversified portfolio of stocks, bonds, or other securities.A type of investment in gold that is held electronically, providing investors with a convenient and cost-effective way to invest in gold without physically holding it. Type of Asset Securities CommodityInvestment ObjectiveCapital appreciation, income generation, or bothHedging against inflation, diversification, speculation or tradingOwnershipInvestors own shares in the mutual fund, which represent a portion of the total assets held by the fund.Investors own units in the digital gold, which represent a portion of the total gold held by the provider.LiquidityGenerally highly liquid with the ability to buy and sell shares at the end of each trading day.Can be highly liquid depending on the provider, with the ability to buy and sell units throughout the trading day. Investment AmountGenerally lower minimum investment requirements than other types of investments.Lower minimum investment requirements than physical gold but may still have higher minimums than some mutual funds.FeesExpense ratios, management fees, transaction fees, and other expenses associated with buying and selling securities.Fees associated with buying and selling digital gold, which may include transaction fees, management fees, and storage fees. RisksMarket risk, interest rate risk, credit risk, and other risks associated with investing in securities.Gold price risk, counterparty risk, liquidity risk, and other risks associated with investing in gold.TaxationMutual funds are subject to capital gains taxes, income taxes, and other taxes.Digital gold is subject to GST, capital gains taxes, income taxes, and other taxes. In summary, while mutual funds and digital gold are both investment options, they differ in terms of the type of asset, investment objective, ownership, liquidity, investment amount, fees, risks, and taxation. Which One to Choose?The decision to invest in either digital gold or mutual funds is contingent upon a range of factors that are unique to each individual investor. These factors include an investor's investment goals, risk tolerance, and investment preferences. Investing in digital gold can provide a convenient and cost-effective way to invest in gold, which is often viewed as a hedge against inflation and market volatility. Digital gold allows investors to invest in gold without physically owning it. Instead, digital gold is held electronically, making it a convenient investment option for those who want to invest in gold without the hassle of storing and securing physical gold. On the other hand, investing in mutual funds can offer a diversified portfolio of securities, which may provide long-term growth and income. A mutual fund is an investment fund that pools money from multiple investors to invest in a diverse range of securities, such as stocks, bonds, or other assets. Investing in mutual funds may provide investors with exposure to a broad range of industries and companies, reducing the overall risk of the portfolio. In conclusion, selecting between investing in digital gold or mutual funds is a highly personalised decision, depending on an investor's investment goals, risk tolerance, and investment preferences. It is crucial for investors to conduct comprehensive research and seek professional advice before making any investment decisions. ConclusionWhen comparing digital gold and mutual funds, it is important to note that both are low-risk investments. Digital gold's value tends to increase in the long term, although it may not offer higher returns compared to mutual funds, which can provide exposure to market securities and high returns, but also come with certain risks. The choice between investing in gold or mutual funds depends on your investment goals, with mutual funds being a better choice for diversification and gold being a good option for long-term, easily liquidable assets.The best investment strategy is always to spread your investments across different schemes and asset classes. For those interested in investing or <a target="_blank" rel="noopener noreferrer" href="https://www.spare8.com/buy-digital-gold">buying digital gold</a>, the Spare8 app is a simple, easy-to-use, and trusted micro-investment platform worth considering. So, download the app now!!

Many people usually get confused between mutual funds and digital gold investment. Here we have given few stats to make it understable for you.

Mutual Funds Vs Digital Gold? Which One Is Better?

As youth transition into the professional world and take on multiple responsibilities, they become more independent and self-reliant. However, as they navigate the seriousness of adult life, they soon realise the importance of managing their finances and investments. This often involves taking expenses and bills more seriously and making sacrifices where necessary, as many young adults are not paid a high salary in the early years of their career. To maximise their savings and build wealth, young adults need to invest in the best investment options available. They need to be cautious and informed about their financial needs and goals, both short-term and long-term. This understanding will allow them to make smart investment decisions and choose the best options for their financial situation. In this article, we aim to provide a list of the best investment plans for youth in India and explain why they are considered the best choice for this demographic. Our goal is to provide youth with the information and resources they need to make informed investment decisions and achieve financial security. Top 6 Investment Plans for Youth in IndiaInvestment plans are a crucial component in building a secure financial future. In India, these plans offer the opportunity to invest savings into various money-market products in a structured and regular manner, helping to achieve financial goals. The advantage of investment plans lies in their ability to maximise savings over the long term and create sustainable wealth.Before choosing an investment plan in India, it is essential first to understand your risk tolerance and financial needs. This will allow you to select a plan that aligns with your goals and helps you achieve your financial objectives. Listed below are some of the best investment options available in India: The Indian Post Office Savings SchemeAlso known as the Post Office Savings Scheme, this is a reliable investment option for young adults seeking secure investment options. The Post Office is a trusted institution backed by the government, ensuring complete capital protection and offering competitive interest rates. These features make it an ideal option for individuals looking for safety and guaranteed returns. Unit-linked Insurance Plans (ULIPs)ULIPs are an excellent choice for youth seeking long-term investment options. These plans combine investment and insurance benefits, offering flexibility and the ability to choose from equity, debt, or hybrid funds. ULIPs are customisable to individual financial goals and risk profiles, while also providing life insurance coverage—making them a smart and secure choice. Public Provident Fund (PPF)PPF is a long-term savings scheme offered by the Government of India. It provides a high-interest rate and tax-free savings opportunity. Contributions, interest earned, and maturity proceeds are all exempt from taxes (EEE benefit). You can invest between ₹500 and ₹1.5 lakh per year. Investing early in the financial year helps you maximise interest gains. Recurring Deposit Account (RD)RDs are perfect for building emergency funds with a fixed monthly saving habit. With maturity periods ranging from 6 months to a year and attractive interest rates of 6% to 7%, they offer both liquidity and decent returns—making them ideal for young adults needing flexibility and growth. Digital GoldDigital gold is a modern micro-investment plan that allows users to <a target="_blank" rel="noopener noreferrer" href="https://www.spare8.com/buy-digital-gold">buy digital gold</a> online and store it in secure, insured vaults without the need for physical storage. With platforms like Spare8, youth can invest small amounts (even ₹1) anytime, anywhere. It’s accessible, safe, and transparent—perfect for mobile-first investors. Systematic Investment Plans (SIPs)SIPs are a beginner-friendly and flexible way to grow wealth over time through mutual funds. Starting with as little as ₹500, youth can gradually increase their contributions and benefit from market-linked returns. SIPs help in cultivating a disciplined savings habit and long-term portfolio growth. ConclusionThese investment options are some of the most popular and accessible plans for youth in India. Whether your goal is to create emergency savings, plan for long-term wealth, or build a diversified portfolio, the right mix of these tools can set you up for financial freedom. To deepen your understanding of money and investing, be sure to explore the <a target="_blank" rel="noopener noreferrer" href="https://www.spare8.com/finance-blogs-india">finance blogs</a> on Spare8.com. And when you’re ready to start building wealth, download the Spare8 app and begin your micro-investment journey today!

As a youth, we often forget that investment should be done at early age in order to reap benefits. We have listed top 6 investment plans for youth in 2023. 

Best Investment Plans For Youth In 2023

Starting the month with a budget in mind and the determination to stick to it can be a challenge, especially when it comes to managing money. Despite having the best intentions only to buy what you truly need and avoid temptations, it's not uncommon to find yourself overspending. If you've ever found yourself in this situation, feeling frustrated and overwhelmed with your credit card statement, don't worry. You're not alone! In fact, many people struggle with managing their finances and controlling their spending habits.But the good news is several effective strategies can help you keep your spending in check. In this article, we'll learn what is overspending and some of the best tips and tricks for managing your money so that you can start taking control of your finances today.<h2>What is Overspending?</h2>Overspending means spending more money than one can afford beyond their budget or financial means. It often results in an increase in debt, a reduction in savings, and the inability to meet financial obligations. Overspending can occur in various forms, such as impulse buying, excessive shopping, and continuously using credit cards without paying them off in full. It can also be a symptom of deeper financial problems, such as poor budgeting skills, emotional spending, or a lack of financial education.In the long term, overspending can lead to financial stress, reduced quality of life, and a cycle of debt that can be difficult to break. Therefore, it's important to understand and address the root causes of overspending in order to develop healthy spending habits and maintain financial stability.<h2>What are the causes of Overspending?</h2>The root causes of overspending are often linked to deeper psychological, emotional, and societal factors rather than a lack of financial discipline or knowledge. Some of the common root causes include:<ul><li>Low self-esteem or self-worth: Spending money on material possessions to boost self-esteem or to fit in with social norms.</li><li>Unresolved emotional issues: Spending as a coping mechanism or distraction from negative emotions, such as stress, anxiety, or depression.</li><li>Compulsive shopping behaviour: An addiction to shopping or buying things, similar to other addictive behaviours.</li><li>Childhood experiences: Negative experiences in childhood, such as growing up in a household with financial instability or living with parents who overspent, can shape one's beliefs and habits around money.</li><li>Social and cultural influences: Society often glorifies consumerism and materialism, making it seem normal or even desirable to own the latest gadgets, clothes, and cars, which can drive overspending.</li></ul><h2>How to control your overspending habit?</h2>Let’s take a look at some easy ways through which you can control your overspending habit.<h3>Create a budget.</h3>One of the most effective ways to tackle overspending is by creating a budget that suits your needs and lifestyle. This not only helps you to organise your finances better, but it also provides you with a clear picture of where your money is going and where it should be allocated. A recommended allocation for your budget could include 20% for discretionary spending on your wants, 30% for savings, investments and emergency funds, and 50% for your monthly necessities or essential expenses. By breaking down your spending into these categories, you can better manage your money and avoid overspending.<h3>Analyse the real reason for spending.</h3>Overspending can often stem from deeper psychological and emotional issues, not just a lack of self-control. For example, shopping may serve as a means of stress relief or a way to fill an emotional void. To effectively address and overcome overspending, it may be necessary to examine the underlying reasons for your spending habits.If you find that your spending has spiralled out of control, consider reaching out to your loved ones or friends for support. Additionally, working with a financial advisor can provide valuable insights and strategies for organising and managing your spending in a way that promotes financial wellness. By addressing both the surface-level and deeper root causes of overspending, you can develop healthy spending habits and secure your financial future.<h3>Track your expenses.</h3>Failure to track your expenses is a recipe for financial debt. Fortunately, there are many accessible and convenient methods for keeping track of your spending in the present day. You can choose to utilise a spreadsheet program like Excel to manually monitor and regulate your expenses, or opt for utilising a tracking app.Many banks offer the option of receiving SMS notifications for each credit or debit transaction made on your account. If this feature is not already activated on your account, we highly recommend contacting your bank to have it enabled. Keeping a vigilant eye on your spending through effective tracking methods can help you avoid overspending and safeguard your financial health.<h3>Identify and set specific financial goals.</h3>Establishing specific goals can provide you with a sense of purpose and increase your level of discipline in managing your finances. Your goals do not have to be overly ambitious; even starting with a small target, such as setting aside 5% of your monthly income for investment purposes, can be a great place to begin.Having a clear and exciting objective to work towards can also help to mitigate impulsive overspending behaviour. By channelling your resources and energy towards your savings goals, you can cultivate healthy spending habits and achieve greater financial stability.<h3>Opt to use cash for a majority of your transactions.</h3>Although digital transactions offer ease and convenience, they can also make it difficult to monitor your spending accurately. Conversely, using physical cash can enhance your psychological awareness of the money being spent and may encourage more mindful spending habits. By paying with cash, you may be able to reduce overspending and better manage your finances.<h2>Conclusion</h2>Reforming spending habits takes effort and commitment, and it's normal to face temptations to overspend along the way. Don't be discouraged, as change doesn't happen overnight. By learning to budget and implementing goals and safeguards, you can become a wise and responsible spender who uses money efficiently.Unlock the secrets of finance and <a target="_blank" rel="noopener noreferrer" href="https://www.spare8.com/finance-blogs-india/4-tips-for-building-your-long-term-investment-plan">micro-investment tips</a> with our informative blogs at Spare8.com. Take your first step in the digital gold investment world by downloading the Spare8 app now and start reaping the benefits of smart investing!

Invest in digital gold for secure and profitable investments. Discover the benefits of digital gold investment and its potential growth. Start now!

Finance Blogs India