Currently, Indian ATMs are dispensing gold coins, so hide your PIN Pipa News

Currently, Indian ATMs are dispensing gold coins, so hide your PIN

MUMBAI: Outwardly, it looks like a typical cash dispenser, but it is India’s first “gold ATM”, which dispenses gold coins at the touch of a button in a country where gold is often considered a safe and preferred asset. Investment is considered.

The Gold ATM was created by Gold Coin and is located in Hyderabad, a city in South India. It can dispense gold coins weighing anywhere between 0.5 and 100 grams. The need to keep your PIN a secret from the person behind you in line is further exacerbated by the fact that a 100 gram coin costs approximately $7,000.

According to Vice President of Sales, Goldsikka Pratap, customers can directly come here and buy coins instead of going to jewelery showrooms.

India is the second largest consumer of gold in the world. Rural areas of India, where jewelery is a customary way of storing wealth, typically account for two-thirds of the country’s gold demand.

5 kg gold that can be stored at Gold ATMs, which started functioning from Saturday. On a recent evening many people lined up to buy gold coins, inserting their credit cards into the machine before selecting the coin’s weight.

“The whole process was completed within a minute. So, I believe this is the best way to get gold according to a customer looking to invest.

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