Gold ATM: Till now, if anyone had to sell their old gold, they had to go to a jeweler’s shop. There, there are many disputes regarding the purity and price of gold and the customer is sent away with less money. Due to lack of information, most people are unable to say anything. Now China has found a great solution to this problem. A ‘Gold ATM’ has been installed in Shanghai city. This machine takes old gold, checks it and then sends money directly to the customer’s account. The most special thing about this is that there is no scope for fraud in it and the whole process is completed in just 30 minutes.
How does this Gold ATM work?
Any person can put his old jewelry or gold coins or biscuits in this machine. The only thing to be kept in mind is that the gold should be at least 3 grams and its purity should be more than 50 percent. As soon as the customer puts the gold, the machine melts it at a temperature of 1,200 degrees Celsius. After this, the high-tech sensors installed in it check the purity and weight of the gold. Then its price is decided according to the latest rate of Shanghai Gold Exchange and after deducting the processing fee, the remaining amount is sent to the customer’s bank account.
No need for papers and time saving too
The biggest feature of this machine is that it does not require any ID or any document. The customer just puts in the gold and the entire process is completed within 30 minutes. The money is directly transferred to the bank account. This facility is completely automated and there is no human intervention in it. This is the reason why this process is considered to be very transparent and safe. People will no longer have to worry about going to shops to fix the price or getting cheated.
This smart machine was made by Shenzhen based company
This machine has been made by Shenzhen based Kinghood Group. This machine has just started in Shanghai and if it gets a good response from the people, it will be installed in other big cities of China as well. This technology is not only providing convenience to the people but is also bringing transparency in the gold business. Now the customer will not have the fear that his gold may be sold at a low price or that the shopkeeper may cheat him. In the coming time, if this machine comes to countries like India, then people will get a lot of relief and it can completely change the way of buying and selling gold.
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