Its functioning is futuristic and almost sci-fi: it burns real gold and immediately deposits the same amount of money into your bank account.
Users can deposit gold jewelry, coins, or bullion into the sophisticated gold ATM, which is said to be the first of its type in China. The ATM evaluates the gold's weight and purity in real time, determines its market value, and then electronically deposits the user's bank account with the appropriate amount in a matter of minutes using an integrated gold melter and sophisticated weighing system.
Turkish internet influencer Tansu Yegen released a video of the ATM on X (previously Twitter), bringing the machine's existence to the attention of the world. Yegen's tweet, "A gold ATM in shanghai melts the gold and transfers the amount corresponding to its weight to your bank account," went viral and sparked discussions on the future of financial innovation and currency exchange.
The gold ATM, according to industry analysts, is a reflection of China's increasing efforts to combine cutting-edge financial technologies with traditional assets like gold. It also heralds a new degree of openness to wallet PLATFORM' target='_blank' title='digital-Latest Updates, Photos, Videos are a click away, CLICK NOW'>digital asset management and gold trading.
Netizens React
The viral video of the gold-melting ATM has sparked a wave of reactions across social media, with many users expressing awe - and a touch of envy. "Wow, a gold ATM that melts your gold & sends the money straight to your bank. That's how china does innovation: simple, fast, and powerful… and yes, finding new ways to mix old wealth with modern tech!" posted tech commentator Advait Arora on X.
Users can deposit gold jewelry, coins, or bullion into the sophisticated gold ATM, which is said to be the first of its type in China. The ATM evaluates the gold's weight and purity in real time, determines its market value, and then electronically deposits the user's bank account with the appropriate amount in a matter of minutes using an integrated gold melter and sophisticated weighing system.
Turkish internet influencer Tansu Yegen released a video of the ATM on X (previously Twitter), bringing the machine's existence to the attention of the world. Yegen's tweet, "A gold ATM in shanghai melts the gold and transfers the amount corresponding to its weight to your bank account," went viral and sparked discussions on the future of financial innovation and currency exchange.
The gold ATM, according to industry analysts, is a reflection of China's increasing efforts to combine cutting-edge financial technologies with traditional assets like gold. It also heralds a new degree of openness to wallet PLATFORM' target='_blank' title='digital-Latest Updates, Photos, Videos are a click away, CLICK NOW'>digital asset management and gold trading.
Netizens React
The viral video of the gold-melting ATM has sparked a wave of reactions across social media, with many users expressing awe - and a touch of envy. "Wow, a gold ATM that melts your gold & sends the money straight to your bank. That's how china does innovation: simple, fast, and powerful… and yes, finding new ways to mix old wealth with modern tech!" posted tech commentator Advait Arora on X.
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