Navi Survey Reveals Indians’ Growing Interest in Digital Gold Due to Low Risk, Purity, and Convenience

BILKULONLINE

Bengaluru, Ahmedabad, Aug 7: Digital gold is a unique offering that allows customers to invest in a traditional asset class in a modern and innovative format. A recent study conducted by Navi among investors and non-investors of digital gold sheds light on the main reasons for its adoption in India and some barriers that prevent wider adoption of digital gold.

Top reasons driving digital gold investment from the study done by Navi are as follows:

1. Gold = Good returns

50% invested because gold has delivered good returns in the recent past.

2. Digital gold = No risk of theft

39% feel digital gold is less risky than keeping physical gold at home– no worry of theft.

3. Satisfaction of buying the purest form of gold

36% have invested in ‘Digital Gold’ due to its purity aspect i.e. ability to buy 24-carat pure gold           

4. Digital gold is more convenient

25% like the convenience of buying, selling, and tracking digital gold investment anytime via apps offering digital gold.

Top barriers holding back digital gold investment, as highlighted by the study done by Navi, are listed below.

1. Uncertainty about the investment process & benefits

67% of non-users were uncertain about the process of investing in digital gold or the benefits it offers.

2. ‘Touch & feel’ of physical gold

44% preferred physical gold due to the ability to ‘touch and feel’ gold bought from a jeweller.

3. Other factors

A few other reasons for not investing in digital gold were lower returns compared to stocks, fear of online fraud, GST being charged while buying Digital or Physical gold (37% for each reason)

The findings from the study done by Navi highlight the need to drive more financial literacy and address common consumer concerns and questions about the benefits of digital gold. This can drive wider adoption, allowing consumers to enjoy gold’s timeless appeal in a modern, innovative form.