What are the detailed steps to start a Digital Gold Business?
What are the Detailed Steps to Start a Digital Gold Business? In the evolving landscape of fintech and digital assets, digital gold has emerged as a popular investment tool. It allows customers to buy, sell, and store gold digitally without physically owning it. Starting a digital gold business is a lucrative venture, but it requires strategic planning, regulatory compliance, and strong technological infrastructure. Here’s a step-by-step guide to help you understand how to start a digital gold business: Step 1: Understand the Digital Gold Business Model Before diving in, gain a solid understanding of the digital gold ecosystem. In this model: Customers buy and sell gold in small or large quantities online. The gold is backed by physical gold stored securely by trusted vaulting partners. You act as a platform that facilitates these transactions and may earn via spreads, commissions, or service fees. There are typically three key players in this model: Customer – t...