India launches the world’s first gold ATM

The Indian company Goldsikka installed such a gold ATM at its head office. Unlike conventional ATMs that allow you to make various monetary transactions, the Goldsikka solution dispenses gold coins of various values, which can be purchased using a debit or credit card.

gold ATM
world’s first gold ATM

The ATM can hold up to 5 kilograms of 24-carat gold coins weighing from 0.5 to 100 grams. A total of eight options are available: 0.5 grams, 1 gram, 2 grams, 5 grams, 10 grams, 20 grams, 50 grams, and 100 grams. All coins have the highest fineness of 999. Their value is displayed on the screen in real-time and is adjusted in accordance with the quotes on the London Stock Exchange.

The ATM security system includes a built-in camera, and an alarm and communicates with law enforcement agencies. There is also a customer support service for buyers of gold coins, where you can ask questions of interest.

The company plans to install another 3,000 of these ATMs throughout India, and then enter the global market.

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