Back in the 19th century and even before, Gold and Silver were the very ways to instigate trading and exchange goods and services between communities or groups.
With time evolving and improvised investment modes, we landed on fiat currencies and holdings in the early 21st century.
Fiat became an important asset and gained importance over time. Also, the challenges like security and safeguarding went hand in hand.
Then came the era of cryptocurrency that revolutionized the whole perspective. Investors found it a better option to invest and trade.
But what's new is how Gold and Silver can be traded virtually. Yes, it's now possible to possess Gold and Silver online.
UPI, a newly added feature within the OroPocket app, unlocks the doors of services and opportunities for individuals to spend their GOLD and SILVER holdings instantly.
But what's UPI and its benefits? Let's see one by one.
UPI, or Unified Payments Interface, is a widely used payments feature in India. This feature allows anyone to make real-time payments across India.
1. UPI has been famous for the ease of sending or collecting money.
2. It allows payments of college fees or house rent, for example.
3. It is the unification and simplification of payments.
4. It also helps in making payments, and the QR code added is a sigh of relief.
5. It has a 2 step authentication Security.
6. Banking apps attached to it like PhonePe or Paytm are found on shops, marts or Uber allowing you to roam freely with a digital wallet.
UPI is directly connected to your bank and allows you relief from remembering all the difficult long codes and passwords.
Just as this, there is a company OroPocket, which supports the same idea; of investing Gold and Silver, backed by blockchain technology.
The company allows you to invest with as little as 1 CENT, making the process of investing much easier for a commoner.
The company has recently introduced its new UPI feature within the OroPocket App, making the process of transaction even smoother.
1. Gold or Silver is present in your account.
2. You can make payments using UPI.
3. When you make payments, that amount of Gold or Silver present is deducted.
4. You are not making payments in the form of these metals. Instead, the amount of money you spend, that amount of Gold or Silver is deducted from your account.
5. Using the UPI feature, you can spend your Gold and Silver holdings instantly.
6. You can invest in Gold and Silver using the UPI feature.
7. Transactions are instant.
However, a problem that arises is spending the precious metals. It is one thing to keep it safe in your locker, and it is another thing to actually pull them out to buy something.
But since Crypto has a new project every now and then, it is awakening people's interest to invest in the market.
