E-Gold– A Digital Yellow Metal Currency with Better Returns
Digital Currency is trending payment gateways in online marketing. E-gold is a form of digital currency that is useful for instant gold value transfers. They can be freely bought and sold and is easy to execute transactions any time. They give better returns when compared to gold Exchange Traded Funds. The trading cost of E-gold is also very low and has low management fee. Hence investing in E-gold is cost effective method of investment. However E-gold involves some brokerage fees of 0.25 percentage of the buying rate.
E-gold has various benefits over physical gold. Unlike physical gold, there will be no making charge and wastage for E-gold. They are better suitable for investments while their smallest denomination is 500 mg or 1 g. physical gold ornaments in this weight is not possible to buy. People are not needed to worry about the purity of the gold while purchasing E-gold. They ensure safety from thefts as they are held electronically in demat form. Buying gold when gold prices are lower and selling them when the prices are higher can gain a considerable amount of profit to the investors. This facility in physical gold may incur some extra charges.
E-gold can be easily converted into physical gold anytime when the investor wants. The minimum amount of gold that can be converted is 1 g gold coin and 8 g, 10 g, 100 g and 1000 g are the available denominations of gold. E-gold is electronically held in demat form in smaller denominations. They are considered equal to physical gold hence they incur wealth tax. The E-gold investors can gain maximum and long term profit when the E-gold are held for three years or more. Returns gained from E-gold have shown betterment than gold ETFs. E-gold is considered to be more effective in long terms.