India’s First and Real Time Gold ATM In Hyderabad, Know All Details Here

If you want to buy gold, you can do so without having to go to a store. All you have to do now is go to a Gold ATM. Goldsikka Pvt Ltd, based in Hyderabad, has installed a gold ATM. This Automatic Teller Machine (ATM) is unique. This machine does not accept cash, but it does accept gold coins. Goldsikka, with technology support from Hyderabad-based startup Opencube Technologies, has launched India's first Gold ATM in Begumpet, claiming it to be the country's first real-time yellow metal dispensing machine.

Features

• Goldsikka allows customers to complete basic gold transactions without visiting any physical jewellery stores.
• It is simple to use, available 24 hours a day, and allows you to buy gold within your budget.
• Customers have easier access to gold ATMs, allowing them to use their debit or credit card for transactions.

Objective

Goldsikka's mission is to provide gold at the lowest possible price. Gold rates are constantly changing, making it difficult to keep up. Goldsikka Gold ATMs, wants to make gold available to a wide range of people, and anyone can withdraw gold from any ATM.

How to operate or Use the gold ATM?

Gold ATMs operate in the same way as any other ATM; the buyer must swipe a credit or debit card and then select the appropriate option to purchase gold. The buyer then decides on a price, and gold worth your budget is released. Nowadays, the unbreakable demand for gold drives gold prices to new highs, and Gold ATM aspires to be the one-stop virtual gold purchasing platform.

Denomination in which gold can be withdrawn-

The ATM can dispense gold coins weighing 0.5 grammes, 1 gramme, 2 grammes, 5 grammes, 10 grammes, 20 grammes, 50 grammes, and 100 grammes (in multiples of 5 grams). Prices are linked to market dynamics in real time and displayed live on the screen, making it transparent and clear for customers, and coins are dispensed in tamper proof packs certified with 999 purity.

With a high-profile security management system, the gold ATM is linked to the banking/financial system management grid as well as the Gold Price Discovery Global Grid. Opencube Technologies, a city-based technology start-up, provided technical assistance.

On Saturday, the first ATM was installed at the Goldsikka office complex in Begumpet, Hyderabad. The company intends to launch three machines in Hyderabad at the airport and in the old city, as well as in Karimnagar and Warangal. Though there are gold ATMs in Europe, the Gulf, and the United States, Goldskikka ATMs are the only ones that can be linked to real-time market prices.