Know important features of India's first Real-Time Gold ATM that comes up In Hyderabad
Unlike usual ATMs, the Goldsikka ATM does not dispense cash; instead it dispenses gold coins. People can insert their debit or credit cards into the Goldsikka, which is India's first gold ATM, and purchase gold coins.
When discussing some of the key characteristics of the Hyderabad gold ATM, Pratap, vice president of Goldsikka, explained that these devices distribute gold coins ranging in weight from 0.5 grams to 100 grams. He said that eight different combinations of gold coins in the sizes of 0.5 gm, I gm, 2 gm, 5 gm, 10 gm, 20 gm, 50 gm, and 100 gm are available. People can use these gold ATMs and receive the required denomination coins instead of travelling to a jewellery store.
They have a 997 certification and are 24 carat gold. and customers will receive their investment return in line with the live price without incurring any loss, according to Pratap. He further added that the prices are updated in real time and would be shown on the screen inclusive of taxes.
On December 3, Hyderabad-based startup M/s OpenCube Technologies Pvt Ltd provided technology support for Goldsikka Pvt Ltd's launch of its first gold ATM. This is the first real-time gold ATM in both the world and India.