Hyderabad gets India's first Gold ATM

Till now people have been only withdrawing money from the ATMs in the country. But for the first time, an ATM has been installed in Hyderabad from which one can withdraw gold coins.

The said ATM which has been installed in Hyderabad shares a similar look with the ATMs present around us, the only difference is that instead of withdrawing cash, one can withdraw gold coins.

The ATM  has been installed by Goldsikka Pvt Limited, which is in the business of buying and selling gold and those people who want to buy gold can get the same with the help of a Debit and Credit card. 

This ATM has been installed at GoldSikka Head Office Ashok Raghupati Chambers, Prakash Nagar Metro Station Begumpet and it has the capacity to hold 5 kg of gold. 

Notably, there are eight options available for the amount of gold ranging from 0.5 grams to 100 grams and it is available in 0.5 gm, 1 gm, 2 gm, 5 gm, 10 gm, 20 gm, 50 gm, and 100 gm options.

It is worth mentioning that Goldsikka Pvt Ltd (Goldsikka Pvt Ltd) launched its first Gold ATM on December 3 with technical support from Hyderabad-based startup company M/s OpenCube Technologies Pvt Ltd (M/s OpenCube Technologies Pvt Ltd). 

It is the first real-time gold ATM in India and the world.

''Goldsikka is a four-year-old company. We are involved in Bullion Trading. Our CEO got a new concept to withdraw gold coins through an ATM machine. After doing a little research, we found out that this may be possible. We have tied up with a start-up company OpenCube Technologies,'' said Pratap, Vice President of Goldsikka. 

Pratap further highlighted one of the important features of this ATM which is the live update of gold prices.

As per the company, people are investing in gold, and the demand for gold is increasing considering the same, this gold ATM has been installed. 

''Buying gold from Goldsikka will become easier as the gold ATM aims to provide customers the facility to buy gold round the clock,'' it claimed.