With the rise in digitisation, the share of new-age investments such as digital gold has increased and is slowly entering the portfolio of investors, according to a survey by SafeGold, the platform that drives the digital gold ecosystem in India, released today. Is.
The survey found that 90% of the respondents estimated the inclination towards digital gold as their preferred investment option for portfolio diversification. Digital gold has gained traction and people are looking for risk-free, storage-proof digital investment options.
The survey, which aimed to understand consumer behavior and preferences of digital investors, saw participation from 1000+ respondents. The average age group of the respondents was between 30-40 years, mainly from outside metro cities like Mumbai, New Delhi, Pune, Bangalore.
Gold has always been considered a durable store of value and a hedge against inflation. 67% of the respondents said that they invest in gold because of its long term benefits
In India, consumers of age and gender invest in gold for purposes like gift giving, marriage, religious meaning, investment etc. 46% of the respondents invested in gold during the festive or wedding season, while 26% said that they invest in gold. On a monthly basis, as per the survey.
With other digital investment avenues and growing similarity around the Web3 investment ecosystem such as NFTs and cryptocurrencies, investors are keen to explore this space. However, over 38% of the respondents said that they do not understand crypto and 30% are hesitant to invest in this space.
Gaurav Mathur, Founder & MD, SafeGold, said, “With the rise of digitization and new era, Millennials are redefining their investment strategies. They are opting for a better and safer future for digital options like Bonds, Real Estate, Equity. away from traditional investments like shares etc. With this data survey, we saw a shift towards new age investment options among investors. We are also very excited to see how digital gold paves its way into investors’ portfolios. thereby giving us an opportunity to educate and reassure consumers about being a strategic investment asset.”
SafeGold saw a 70% increase in the number of users in the last 6 months alone and according to the company, there has been a 300% increase in the revenue numbers in the last 3 years with an annual revenue of Rs 2000 crores, which ended on 31 March 2022 .