Editor’s Note
As gold prices surge, a new AI-powered ATM in Hyderabad offers a streamlined alternative for converting old gold into cash, reflecting fintech’s growing role in traditional asset markets.
Gold prices are reaching new highs every day. In such a scenario, many people are exchanging their old gold for new gold or cash. Amidst this growing trend, fintech company Goldsikka has taken a major step by launching the country’s first AI-powered Gold ATM. The company’s ATM is located in Hyderabad. Selling old gold through this machine becomes so easy that you won’t need to spend hours at a jewelry shop. Through it, you just need to deposit your gold into the machine, and the money will be transferred to your bank account within half an hour.
The AI Gold ATM converts old gold into cash within 30 minutes. As soon as the gold is deposited into the machine, the customer process begins. First, the machine melts the gold, and its purity and weight are checked using AI technology. The price is instantly determined according to the market rate, and the money is directly transferred to the bank account. There is no hassle of any kind in this entire process, no bargaining… the entire process is transparent.
This ATM is not limited to just selling old gold. It features Augmented Reality (AR) technology, allowing customers to stand in front of the machine and virtually try on jewelry. Additionally, they can purchase gold coins ranging from 0.5 grams to 100 grams. This facility is available 24/7 at the ATM, meaning you can buy, sell, or digitize gold anytime, day or night. The machine’s safety system is robust to prevent theft or fraudulent gold.
Before initiating any transaction, your KYC (Aadhaar, ID proof, and photo) is completed. If any suspicious activity or criminal record is found, the transaction is immediately stopped. This makes gold sales safe and trustworthy. The company plans to launch more Gold ATMs in different parts of the country in the coming period.