Goldsikka, with technology backing from Hyderabad-based startup OpenCube Technologies, has established India’s first Gold ATM and the world’s first Real Time Gold ATM in Begumpet. This ATM can dispense gold coins ranging in denomination from 0.5 gm to 100 gm.
Details about India’s first real-time gold ATM set up in Hyderabad by Hyderabad-based startup
The company intends to launch three machines in Hyderabad, at the airport and in the old city, as well as in Karimnagar and Warangal. Taruj stated that plans were being developed to introduce 3,000 machines across India over the next two years.
Goldsikka Limited was founded four years ago. After collaborating with Open cube technologies, they brought the design and built the technology together.
Each ATM can contain up to 5kgs of gold, or around Rs 2-3 crores. The machine accepts coins weighing between 0.5 and 100 grammes. There will be a total of eight alternatives available, including 0.5 grammes, 1 gramme, 2 grammes, 5 grammes, 10 grammes, 20 grammes, 50 grammes, and 100 grammes.
Instead of travelling to jewellery stores, people can acquire the coins straight from the machine. The coins are made of 24-karat gold and are 999 certified.
The ATM has a built-in camera and sound alarm system for added security.
Features of a Real-Time Gold ATM
One of the most crucial characteristics of the ATM is that the gold price is updated in real-time.
If the gold is not dispensed after debiting the payment, the money will be returned within 24 hours of the transaction failing.
The company also provides dedicated customer support for a variety of issues.
The Goldsikka Gold ATM is viable and convenient for the general public because it eliminates the need to visit jewellery stores for little amounts of gold.