Gold ATM: We often have to make rounds of jewelers to sell the gold kept with us. However, this will not happen in the coming days. Fintech company Goldsikka has launched AI-powered gold ATM machines for the first time in the country. It has been installed in Hyderabad. Through this, people can now sell old gold and the money will be credited to your bank account within minutes. This means that now customers will not have to go to the gold shop to check its purity and wait for the bargain.

To sell old gold jewellery, coins etc. we have to go to shops. There one had to wait for hours for purity check, valuation and price discussion with the jewelers and only then one got the cash. This process is a bit lengthy. But now this work will be done in minutes through this AI-enabled gold melting machine. This new system works completely automatically. Let us know its step-by-step process?

• First of all, as soon as gold is placed in the machine, it immediately starts melting it.
• With the help of AI technology, it is easily ascertained how pure the gold is and what is its weight.
• After this, the system immediately calculates the price based on the live market rate.
• The final amount is directly credited to the customer’s bank account.

That means it is clear that there is no need for paper transactions or human help.

Many more features of Gold ATM

Artificial Reality (AR) technology has been used in the machine. Through this, customers can try-on virtual jewellery. That means you can see which jewelery will look good on them. Apart from this, coins ranging from 0.5 grams to 100 grams can be purchased directly from the machine. You can access it 24 hours a day.

Strict security arrangements have also been made in the machine so that no one can misuse it. Under this, customers will have to complete KYC verification before the transaction. Apart from this, the system also checks criminal records and if any activity is found suspicious, the transaction will be blocked immediately.

Also read:

Silver breaks record; Prices doubled in two and a half months, investors’ interest in bricks and coins increased

Gold ATM: We often have to make rounds of jewelers to sell the gold kept with us. However, this will not happen in the coming days. Fintech company Goldsikka has launched AI-powered gold ATM machines for the first time in the country. It has been installed in Hyderabad. Through this, people can now sell old gold and the money will be credited to your bank account within minutes. This means that now customers will not have to go to the gold shop to check its purity and wait for the bargain.

To sell old gold jewellery, coins etc. we have to go to shops. There one had to wait for hours for purity check, valuation and price discussion with the jewelers and only then one got the cash. This process is a bit lengthy. But now this work will be done in minutes through this AI-enabled gold melting machine. This new system works completely automatically. Let us know its step-by-step process?

• First of all, as soon as gold is placed in the machine, it immediately starts melting it.
• With the help of AI technology, it is easily ascertained how pure the gold is and what is its weight.
• After this, the system immediately calculates the price based on the live market rate.
• The final amount is directly credited to the customer’s bank account.

That means it is clear that there is no need for paper transactions or human help.

Many more features of Gold ATM

Artificial Reality (AR) technology has been used in the machine. Through this, customers can try-on virtual jewellery. That means you can see which jewelery will look good on them. Apart from this, coins ranging from 0.5 grams to 100 grams can be purchased directly from the machine. You can access it 24 hours a day.

Strict security arrangements have also been made in the machine so that no one can misuse it. Under this, customers will have to complete KYC verification before the transaction. Apart from this, the system also checks criminal records and if any activity is found suspicious, the transaction will be blocked immediately.

Also read:

Silver breaks record; Prices doubled in two and a half months, investors’ interest in bricks and coins increased

Gold ATM: Now a gold ATM has come which not only gives you money immediately, but its purity also melts gold and checks within minutes. This gold ATM in China is not only attracting the attention of the people of Shanghai, but it is being discussed a lot around the world. The special thing about this gold ATM is that it melts gold and weighs the weight after checking its purity. After this, after thirty minutes, the money is sent directly to the bank account.

This gold ATM is being run by the Kingshood Group of China, which accepts the weight above 3 grams, which has at least 50 percent purity. For this, no paper work is required in ATM nor any ID.

Long queues outside Gold ATM

Reports said that due to rising gold prices, long queues of people can be seen outside this gold ATM. There is so much demand for this machine that people have to book slots to use it. It has been further told in the report that till the month of May, all the appointments of this gold machine are booked, which shows how many people are in demand.

According to the report of Chines Times.com, 40 grams of gold was estimated at 785 yuan (about Rs 9200) perague during a demonstration. About 36,000 yuan (Rs 4.2 lakh) was sent to the vendor’s account within half an hour. Harsh Goenka of RPG Enterprises wrote on social media X- “ATM Gold in Shanghai: Insert your jewelery, it will check its purity, melt, its value will come and immediately money will be deposited in your account.”

He said that this gold ATM can prove to be a big threat to the lenders in India. Goenka said- If it comes in India, then a new business model will be developed instead of traditional gold business, which will be transparency and exploitation will end.

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