Turn Old Gold Into Cash In 30 Minutes? India’s First AI Gold ATM Launched In Hyderabad

Technology has made everyday services faster and more accessible than ever before. From banking to payments, many tasks can now be completed without paperwork or long queues. Selling gold and withdrawing

cash through an ATM is now becoming just as easy.

Fintech company Goldsikka has launched India’s first AI-powered Gold ATM in Hyderabad, Telangana. The machine allows citizens to sell their old gold and receive money directly into their bank accounts within minutes.

This innovative facility is expected to be a major relief for people who want instant liquidity without visiting jewellery stores or negotiating with traders.

Until now, customers often had to spend hours at gold and jewellery shops to check purity, estimate value, and bargain over prices. With the introduction of this AI-based Gold ATM, all those hassles are eliminated.

Gold Converted To Cash In Just 30 Minutes

Using the AI-enabled Gold ATM, gold can be processed within 30 minutes, and the payment is credited directly to the customer’s bank account. The system is designed to be highly transparent and technologically advanced.

Here’s how it works:

Gold Melting: Once the customer places the gold inside the machine, it begins the melting process immediately.

AI-Based Purity Check: Artificial Intelligence technology accurately evaluates the gold’s purity and weight without manual intervention.

Instant Payment: Based on the gold’s quality and the current market rate, the price is calculated instantly. The final amount is transferred directly to the customer’s bank account within half an hour.

Virtual Jewellery Trial and Gold Coin Purchases

The Gold ATM is not limited to selling gold alone. It also uses Augmented Reality (AR) technology, allowing users to virtually try on jewellery by standing in front of the machine.

In addition, customers can purchase gold coins ranging from 0.5 grams to 100 grams directly from the ATM. The service is available 24/7, offering flexibility to buy, sell, or digitise gold at any time.

Security and KYC Measures

To prevent fraud and misuse of stolen gold, strict security protocols have been implemented. Before initiating any transaction, the machine verifies the customer’s identity through KYC procedures and checks criminal records. If any suspicious activity is detected, the transaction is immediately blocked.

Future Expansion Plans

Currently, Goldsikka operates 14 traditional Gold ATMs in India and three abroad. The company plans to install 100 AI-powered Gold ATMs across India and internationally within the next year. At present, the machines are awaiting final regulatory approvals for full commercial rollout.