Gold ATM: Good news for everyone. Now you can sell your Gold through an ATM. Yes you’ve heard it right. China has installed a Gold ATM in Shanghai. Gold jewellery can be easily sold in this ATM. Money will come directly in the account within 30 minutes of selling the gold. The best thing about ATM is that there will be no chance of fraud in it. Let us know how this machine is working.
Features of Gold ATM
What accepts:
– Gold jewellery, coins, or biscuits
– Minimum weight: 3 grams
– Minimum purity: 50%
Checking procedure:
– Machine melts gold at 1,200°C
– Purity and weight checked using advanced sensor technology
Price determination:
– Based on the latest rate of Shanghai Gold Exchange
– Balance amount after deducting processing fee
Payment Method:
– Direct bank transfer, no ID or documents requirede. The whole process is completed in just 30 minutes.
According to the information received, the gold-to-cash machine has been made by Shenzhen-based Kinghood Group, which has now been started in Shanghai. The working method of this ATM machine is very easy and technologically advanced. In this, users have to deposit their gold jewelry, coins or biscuits in the machine. Just keep in mind that the weight of gold should be more than 3 grams and the purity should be above 50%.
After this, the ATM machine will melt the gold by heating it at about 1,200 degrees Celsius. After this, high-precision sensors will check its purity and weight. Then the machine will decide the value of the gold as per the latest rate linked to the Shanghai Gold Exchange and deduct the processing fee. After this, the remaining amount will be transferred directly to the customer’s bank account.