Earlier, one had to stand in long queues to withdraw money from the bank. Then came the ATM machine that removed the hassle and helped us get our money in our hands within minutes.
After the crowd in front of the ATM machine, UPI facility has come to our mobiles and has made money transactions easier. Similarly, now, can you believe that there is a new ATM machine for withdrawing gold? Yes, that too has been set up in India.
Goldusiksha has set up its first gold ATM in Hyderabad. Goldusiksha is a company specializing in buying and selling gold. From now on, those who want to buy gold, don’t go to jewelers if you come to an ATM for gold.
Hyderabad | Real-time gold ATM, which dispenses gold coins, installed in the city
It’s a venture by (company) Goldsikka where customers can buy gold from an ATM machine. 24-carat gold coins between 0.5-100 gms are dispensed through the machine: Pratap, Vice-President, Goldsikka pic.twitter.com/ny1oYchCfh
— ANI (@ANI) December 5, 2022
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The company claims that the ATM for gold has many advantages, including ease of use, 24-hour availability and the ability to buy gold across all price ranges. A debit or credit card can be used to complete cash transactions, it said.
The software for the ATM for gold has been developed by Hyderabad-based OpenCube Technologies. The first gold ATM has been installed at Goldsiksha’s corporate headquarters in Begumpet, Hyderabad.
Goldsiksha said that controlling the price of gold is always a challenge, as it fluctuates. The company said its aim is to make gold more affordable and accessible to a wider range of customers. Apart from debit and credit cards, the company also said it plans to offer prepaid and postpaid smart cards that can be used to buy gold.
ATM for gold works like any other ATM. After choosing the available options to buy gold, one simply swipes their credit or debit card. You can get as much gold as you want for a fixed amount.
You can withdraw gold from 0.5 gm to 100 gm at this ATM. You cannot buy gold less than 0.5 grams or more than 100 grams. The market price of gold is updated daily. Everything dispensed through this ATM is reported to be 24 carat gold.
Read more | If you are going to withdraw money from an ATM, then read this immediately
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