Amazon launches virtual gold buying feature ‘Gold Vault’
Amazon has launched a virtual gold buying and selling option called ‘Gold Vault’. The move would potentially pose a direct competition to Paytm, PhonePe, Mobikwik, ET Money and Google Pay’s digital gold services.
The users can buy and sell the virtual gold-stock any time at the latest price, which gets refreshed every 5 minutes and can be accessed under the Insurance category of Amazon Pay on the main app.
While the gold can be purchased in multiple transactions of any denomination and accumulated over a long period, every purchase made is placed in a secure vault backed by the government regulated security trustee.