With an increase in digitalization, the share of new age investments like digital gold has gone up and is slowly paving its way into the portfolio of investors.
SafeGold, a digital gold platform in India, today released insights from a data survey. The survey aimed to understand the consumer behaviour and preferences of digital investors and saw participation from 1000+ respondents.
The report stated that 90 per cent of respondents showed interest in digital gold as their preferred choice of investment, whereas 46 per cent of respondents invest in gold only during festivities or during the marriage season.
26 per cent, on the other hand, stated that they invest in gold every month.
The report further stated over 30 per cent of respondents do not invest in cryptocurrency because of high volatility. The average age group of the respondents was between 30-40 years, majorly based out of Metro cities like Mumbai, New Delhi, Pune, and Bangalore.
Below are some of the key insights from the survey;
● In India, consumers across ages and genders, invest in gold for purposes like gifting, wedding, religious connotations, investments, etc. 46 per cent of respondents invest in gold during festivities or the marriage season, while 26 per cent stated that they invest in gold every month.
● 90 per cent of respondents projected an inclination toward digital gold as their preferred choice of investment for diversification of portfolio. Digital gold has gained traction and people are exploring the risk-free, storage proof digital investment option.
● Gold has always been considered a durable store of value and a hedge against inflation. 67 per cent of the respondents said that they invest in gold owing to its long term gains.
● With the growing affinities around other digital investment avenues and the Web3 investment ecosystem, like NFTs and cryptocurrency, investors are keen to explore this space. However, over 38 per cent of respondents said that they do not understand crypto and 30 per cent are hesitant to invest in this space.
Gaurav Mathur, Founder and MD, SafeGold says, “With the emergence of digitization and new age, millennials are redefining their investment strategies. They are shunning traditional investments like bonds, real estate, equity shares etc. in favour of digital options for a better and secure future.”
He further adds, “With this data survey, we witnessed the inclination towards new-age investment options among investors. We are also very excited to see how digital gold is paving its way into the portfolios of investors allowing us to further educate and reassure consumers about it being a strategic investment asset.”
The digital currency platform, SafeGold witnessed a whopping 70 per cent growth in the number of users in the last 6 months alone and the revenue numbers have increased by 300 per cent in the last 3 years with annual revenue of Rs 2000 crores ending 31st March 2022.