Akshaya Tritiya is an annual Hindu spring festival celebrated as one of the most auspicious days of the year. Akshaya Tritiya happens on May 3 this year.

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The favourable time of day will last till the early morning of May 4. According to Hindu beliefs, Akshay Tritiya is the most auspicious day to begin new projects, businesses, and make investments.

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Buying gold or silver on this day, according to religious beliefs, brings wealth and good luck. As a result, jewellers are experiencing a significant increase in traffic to their stores and showrooms.

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However, with the emergence of fintech businesses in recent years, digital gold has progressively gained popularity. Those looking to purchase gold on Akshaya Tritiya may do so using digital gold, which is risk-free and assures the purity of the yellow metal.

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Individuals may buy 24 Karat 999.9 pure gold using digital gold. The purity is guaranteed because the majority of dealers are government certified.

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The gold user purchases are then stored in the seller’s safe vault under their name. If someone wishes to own digital gold in the future, they may get it in the form of gold coins and gold bars.

If individuals want to start investing in digital gold this Akshaya Tritiya, here’s how they can do it through online platforms.

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Investing in digital gold using Google Pay:

Step 1: Open the Google Pay app and tap the New section.

Step 2: Enter “Gold Locker” in the search box and hit the search button

Step 3: Tap on the ‘Gold Locker’ icon from the results and then click on ‘Buy’. The current market buying price of gold (including tax) will appear on your screen. This price, however, will only be locked for 5 minutes after you begin the purchase, as the buying price changes throughout the day.

Step 4: Enter the specific amount of gold you want to buy, in INR.

Step 5: There’s an upper limit of Rs 50,000 that you can buy in one day and the minimum purchase limit is Rs 1.

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Investing in digital gold using Paytm:

Step 1: Open the Paytm app and go to the All Services section.

Step 2: Enter the term Gold in the search bar and click search.

Step 3: Tap on the Paytm Gold icon from the results

Step 4: Two options will appear- Buy in Amount or Buy in Grams, enter the desired amount in any of the two spaces and click on Proceed to pay.

Step 5: Complete the purchase by making the payment from Paytm Wallet, UPI, Net Banking, Debit or Credit Card.

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How to Invest in Digital Gold with Tanishq:

Step 1: Login or register on the official website of Tanishq.

Step 2: Complete your account setup by providing all the required details and complete the eKYC

Step 3: Then enter the amount in rupees or gold in grams that you wish to buy

Step 4: Then complete the payment after choosing your payment method option such as an account, card, wallet, debit card, credit card etc.

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Other reputable websites where digital gold may be bought include Augmont Gold, MMTC-PAMP India Pvt. Ltd, HDFC Securities, PC Jewellers, Motilal Oswal, Bajanfinserv, PhonePe, and others.

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Buyers must, however, examine the terms of usage and policy before purchasing gold, regardless of the platform. They must also determine if the site they have chosen will impose any fees for purchasing, selling, or delivering their gold. The purchase of digital gold is subject to a 3% goods and services tax.