Now you can invest in digital gold and reap the benefits of your hard-earned cash with Yopo Super App. Yopo, the company behind the unique scheme has soft-launched the ‘Yopo Gold’ service through which people can trade gold virtually.
The company is planning on launching the service full scale this month with the beginning of the Nepali New Year 2079 BS.
The idea of investing in digital gold has been making headlines in India. And with Yopo, people in Nepal can also buy and sell gold remotely through the Yopo app. Make no mistake, you will still invest in gold. The only difference here is that you can buy gold even for a small cost.
And when you ‘buy’ gold for a certain amount, the company deposits the gold proportionate to the amount of the gold at a bank. And the gold will bear the same worth as the real world gold. It means the price of gold will also change as per the foreign exchange fluctuation.
However, investors will have more feasibility compared to the investment in real gold. “Users of our app can directly buy the gold as per the market price”, Co-founder Nawaraj Shrestha says.
“Then, the company would deposit the gold equal to the amount invested at a bank. The company for this, would buy the gold from a shop and coordinate with a bank for the deposit. If any app user wishes, the gold can be sold as per the market price of that day,” he added. The growingly investment-friendly Nepali demography can be very attracted to this scheme.
More benefits with the Yopo Super App – Jewellery on rent
On the other hand, investors can also receive loans on the deposited gold as collateral. For lovers of gold, they can also rent jewelry for special occasions. “Considering the importance of wearing gold in Nepali tradition, we have also brought the service of jewelry on rent,” Shrestha said.
But the service seems to be exclusively limited to the users who have invested in gold. Shrestha added that users who have bought digital gold through Yopo Super App can make jewelry for a certain time on rent.
He said, his team is currently coordinating with jewelry traders for this plan.
Normal jewelry shop charges 10 to 12 percent for crafting charge, Yopo will only charge 3 percent on its virtual gold investors. Don’t miss: Amid Crypto Farce, NRB Studies Prospect of Digital Currency
The company has also made arrangements to ensure the gold is safely placed under verification for the rightful investors. For this, “the company will coordinate with the bank and verify papers. It will also authenticate investment with insurance from the insurance company”, Parakram Bahadur Singh, Co-founder said.
Likewise, the company has also made agreements with Nepal Payment Service and jewel shops for financial arrangements on digital gold investments.
The company will produce verified documents for gold investment to ensure financial security for the investors.
How eager would you be to start investing in digital gold? Comment below.