What Is Gold Back In Paytm?

How can I get free gold on Paytm?

Get PayTM Gold Worth Rs.30 For Free :First of all Download PayTM App or Just update your PayTM App.

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Sign up for a new account or just login using your existing Account.Now Go To PayTM Gold Page clicking on First Gold Purchase from PayTM.Go to GOLD option and Buy Rs.

Now Apply The Promo code – FREE30.More items…•.

Can I sell Paytm gold?

Step 1: Log into Paytm app and select the ‘Gold’ icon. Step 2: Select ‘Sell’ option appearing at the top of the page. Step 3: One can sell gold accumulated on Paytm in either rupees or gram. For example, user can either sell 0.1 gram or Re 1 and above.

Is digital gold safe?

Digital Gold is genuine and the purity is 24K 99.5% for SafeGold and 999.9 in case of MMTC PAMP purchases. Your purchase is stored safely and is also 100% insured. You can exchange digital gold for physical jewellery or gold coins and bullion.

Why Digital gold is expensive?

GST adds to the cost: When you buy digital gold, you need to pay 3% goods and services tax (GST) just like in case of buying physical gold. For example, if you are buying digital gold for ₹1,000, you will get gold of only ₹970 as rest will be deducted as GST. … One can hold Gold ETF for as long as one wants to.

What is the minimum amount with which you can buy Paytm gold?

Buy, gift, redeem, sell your gold or check your gold balance anytime anywhere using your Paytm app. No minimum amount or quantity needed to start saving in Gold. You can buy gold starting ₹1. Your Gold is kept safe in 100% insured lockers with MMTC-PAMP, at no extra charges.

Why I am not getting cashback in Paytm?

In rare cases, cashback might get delayed for one or more items due to multiple reasons including non-KYC account, technical delay due to heavy load on the app etc. However, even in these cases, cashback gets processed into the customer’s Paytm wallet within 24 hours.

Can I convert Paytm gold to cash?

You can continue to transact and shop on Paytm and still receive cashback as equivalent “Digital Gold” of the same amount. … Sell your existing Paytm Gold at market prices and get the money credited directly to your Bank account.

Is Paytm Gold profitable?

The money is being looted by MMTC Limited, not Paytm. It works similar to Bitcoin. There is not profit in Gold trading. The price is going to stay around 3k/gm for a long time.

Why is gold cheaper than buying price?

In grams, you can buy a minimum of 0.0005 grams and a maximum of 50 grams. b) Selling of gold starts from 0.0005 grams or Rs 1. … e) According to the FAQs section, on any given day, the selling price is lower than buying price because there are certain costs which include taxes, bank charges and others.

Is it safe to buy gold in PhonePe?

Sharma discovered how easy it was to purchase 24K gold safely on PhonePe. … Gold purchased on PhonePe is stored in a free bank-grade insured locker facility maintained by the providers, SafeGold and MMTC-PAMP India Pvt. Ltd. IDBI trusteeship ensures that the Gold cannot leave the locker facility without a proper audit.

Can we get money back from Paytm wallet?

Don’t fret if you have added money to your Paytm wallet by mistake. The amount added to your wallet can always be used across all the various services we offer here at Paytm. However, there is a service available exclusively to full KYC users, wherein you can refund the amount, back to your source account.

Is Paytm gold safe?

Krishna Hegde, senior vice president, Paytm says “Paytm Gold is stored absolutely free of cost in highly secure vaults of MMTC-PAMP. … This physical gold is stored in a physical locker tagged to the customer till the time it is sold.

What is the benefit of Paytm gold?

Your gold will be stored in MMTC PAMP’s secure & 100% insured lockers for free and you will have the power to get your gold delivered whenever you want. With Paytm gold you can get rid of extra charges like making charge, locker fee etc which is required for physical gold.