Saving money is one of the most important necessities of life. Almost all of us want to save money. Accumulating and investing in gold regularly can be a great investment opportunity.
If you want to convert a small amount of money into digital gold, the Jar app can come to your rescue. Want to see if the Jar app is real or fake? Keep reading to know more.
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What is Jar App?
Jar App is an app designed to help protect digital gold. With JAR app, you can easily accumulate digital gold on a daily basis and also get a chance to double or triple your earnings. With the app, you save some money on every online purchase.
Two young minds Nichaya AG and Misbah Ashraf introduced and launched Jar App.
Jar app is designed as a digital piggy bank. When it detects a digital transaction through your SMS, it will mark the transaction to the nearest Rs. Completes up to 10. It generates alternative currency for every transaction you make.
For example, if you spend Rs. 97, on something digital, the app will read it via text message and a further Rs. 10 to be remitted, i.e. Rs. 100, and Digital Gold Rs. 3 Investment This amount will be withdrawn from your bank account through your UPI ID. This can be a great option to help you invest in gold one small step at a time.
Advantages of Jar implementation
- Educate the youth to turn small sums into big savings.
- Save automatically. You may continue to record without intentionally saving with one-time authorization only.
- A very convenient way to save money. The steps involved are extremely simple and hassle-free.
- You don’t need to invest much money. This means you don’t have to be shy about starting an investment. You have to pay Rs. You can start investing with the same amount. 5 or 10
How does the jar app work?
Well, the way it works is very simple and easy. The app requires you to register with your UPI ID and then you can read the received SMS on your phone. Whenever you make a digital transaction, it reads the message and distributes the remaining coins as 99.9% pure gold.
The app uses a concept called UPI AutoPay to invest on your behalf. Investment in gold is secured by secure technology and insured by India’s leading banks.
You can buy and sell gold as you wish. You can buy and sell gold at prevailing rates during each transaction. Please note that purchase and sale prices are market dependent and may fluctuate.
Jar App Real or Fake
The services provided by Jar App are provided by Safegold as a provider. The provider has positive reviews, so it might be a good choice for you to get the best experience. The gold you buy is backed by RBI-regulated trustee IDBI. This makes the investment made by the JAR application very secure.
The app also offers an end-to-end encryption option. Both the app and the payment channel give you access to a secure encryption option. No one – not even Krug employees – will have access to the data. Another best option is that you don’t have a lockdown period. Your savings will be yours forever. You can change or withdraw your money at any time.
Is it mandatory to do KYC to invest in gold on Jar?
Yes, KYC verification is mandatory for glass if:
You have purchased gold worth more than 30 grams or INR 1.5 lakhs.
You want to withdraw your money by selling gold.
You want to transfer the profit from the jar to buy gold.
You want gold delivered to your doorstep
How do I sign up and invest in a JAR application?
- Click to download jar app on your phone.
- Log in after registration is complete.
- You need to set up automatic payment options with your UPI services like PhonePe, Google Pay, or Paytm account.
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