Everything About India’s First Gold ATM!

India’s First Gold ATM

Gold investment has been of great importance in Indian culture. That’s why the trend of buying gold does not lose its shine. Today, buying gold has become easier because of the newly launched gold ATM. 

What’s Happening?

The gold ATM launched in India is not just India’s but also the world’s first real-time gold ATM. GoldSikka Private Limited has launched it in Hyderabad with the help of Hyderabad-based firm OpenCube Technologies. People can now withdraw gold coins from this ATM using debit and credit cards.

Various variants are available to buy gold coins ranging from 0.5 to 100 grams.

Unique Features of Gold ATM

Pratap, Vice President of GoldSikka, has highlighted some unique features of the gold ATM. They are:

  • The purpose of the gold ATM is to provide a 24×7 facility for customers to buy gold.
  • You can buy gold using a credit or a debit card.
  • The gold ATM has a massive capacity of holding up to 5 KGs of gold.
  • The coins dispensed from the gold ATM are 24K gold and 999 purity certified.
  • You can see the gold prices live on the screen of the ATM.
  • The price of the coins will be based on the live prices.

How to Use the Gold ATM?

Gold ATM works like our regular ATM. You need to insert your debit or credit card, enter the PIN and enter the value of the gold required. Once the amount is debited, the ATM will dispense the gold coin.

Future Plan

Pratap, Vice President of Goldcoin, says they plan to install the gold ATM at Hyderabad airport. The company will further expand into South India and, over time, will have around 3,000 gold ATMs installed across the country. The company is also planning to go global in the future.

What’s Next?

Gold is considered a safe investment. It is also considered a hedge against inflation. Moreover, it is highly liquid, which means you can sell it at a time of need. So, in a nutshell, buying gold has just become more accessible because of the gold ATM.

Note: The companies mentioned in the article are for informational purposes.

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