Hyderabad gets first gold ATM; here’s how it works

The gold ATM is easy to use and available 24x7. Goldsikka said that since gold rates are constantly fluctuating, it is difficult to get a hang of it.

Hyderabad: Now, buying gold in Hyderabad has turned easy as Goldsikka Pvt Ltd recently set up a gold ATM at their head office in Begumpet. It is claimed to be the country’s first real-time gold dispensing machine that lets you buy gold without visiting a jewellery store.

All you need to know:

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The gold ATM is easy to use and available 24×7. Goldsikka said that since gold rates are constantly fluctuating, it is difficult to get a hang of it. Its aim, it said, was to provide gold at the lowest possible price and more accessible to a varied audience.

Buyers can instantaneously purchase actual gold using any credit or debit card from this ATM. The company will also provide prepaid and postpaid smart cards that can be used to purchase gold.

This gold ATM supplies in denominations ranging from 0.5 gms to 100 gms. The price is updated based on live prices.

How to use gold ATM:

Gold ATMs function similarly to every other ATM. Customers can use their debit, credit cards, or smart carts provided by the company to buy the yellow metal.

Insert your debit/credit card into a gold ATM. Enter the PIN of your card. Enter the value of the gold coins required. Gold coins will be dispensed from the machine.