Digikala started buying and selling digital gold

Digikala has introduced the new “Digital Gold” service. Users can buy and sell 18-carat gold using this service online 24 hours a day.

According to Ideaagency, Digikala digital gold is actually a digital representation of 18-carat melted gold that is stored in Digikala’s safe warehouses. Users can buy any amount of gold online and store it as a digital asset in their account.

According to the announcement of Digikala, 2 suppliers approved by Tehran Gold, Jewellery, Silver and Coin Sellers and Manufacturers Union determine the price of these golds based on the current market rate.

The fee for buying and selling Digikala digital gold products is also variable and may change in different periods of time. However, these fees are much lower than the traditional methods of buying molten gold.

How to buy and sell digital gold

According to Digikala’s announcement, to buy digital gold, first go to the “Buy and Sell” section of Digikala’s digital gold product and select the “Buy” tab. Then enter the desired amount of gold in milligrams or its Rial equivalent and make the payment.

To sell your digital gold, you must also go to the “Buy and Sell” section of the DigiKala digital gold product and select the “Sell” tab. Then enter the amount of gold you want to sell and register the sale request.

After the sale is confirmed, the proceeds from the sale will be deposited into your DigiPay wallet and will be visible in a few minutes. You can select “withdraw” option and transfer your balance to your bank account through the “Account” section.

It is possible to sell digital gold at any hour of the day and night, but according to Digikala, due to the fluctuation of the price of gold, restrictions may be applied during working or non-working hours on some days.

Of course, currently, it is not possible to physically receive the gold purchased in Digikala’s digital gold product, and transactions are done digitally only. Of course, Digikala announced that in the near future, the ability to request physical delivery will also be added to this product.

It is not possible to directly transfer or gift digital gold to other accounts in Digikala’s digital gold product.

According to the information included in the digital gold market rules and regulations section of Digikala, buying and selling of digital gold is possible during the working hours of the gold market from Saturday to Wednesday from 11:00 to 18:00 with restrictions. During non-working hours and on non-working days, including Thursdays, Fridays and public holidays, the restrictions increase, but buying and selling is done under more limited conditions.