No Paperwork, Just Pure Gold: China’s High-Tech Gold ATM

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Shanghai unveils a new kind of ATM one that gives you cash not for cards, but for melting down your gold jewellery

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Developed by China’s Kinghood Group, this ATM melts, tests, and weighs your gold, then sends cash straight to your bank—no ID or paperwork needed

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The gold must weigh over 3 grams and be at least 50% pure. Once approved, the machine calculates its value and pays instantly

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From deposit to payout, the entire process takes just 30 minutes streamlined, secure, and hassle-free

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Appointments are fully booked till May as people rush to turn old jewellery into instant money

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A 40g gold chain earned over 36,000 yuan (about $4,180 USD), calculated at 785 yuan ($91) per gram

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This machine eliminates brokers and ensures transparency, offering users fair value for their gold

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