A gold bar ATM is a machine that allows you to withdraw gold bars. Gold To Go is an excellent example of how fortunate we are in the first world, and it is much closer than you might believe!
Does it happen to you every now and then when you’re walking down the street and you realise you’ve got no cash in your pocket at all? No, I don’t think so. However, the fact that these folks are present, at the very least, prompts Gold To Go to consider responding to an apparent need.
To Go With the Gold
The concept is straightforward: it is essentially a gold ATM. In other words, you put money into the machine, and gold comes out of the machine. This might range from little gold coins to actual gold bars in weight and purity. Who would want that? People in the United Arab Emirates appear to be extremely wealthy. About ten years ago, the first Gold To Go machine was installed at the location, and it was met with a great deal of excitement. It’s odd to think that you can buy real 24 karat gold by just putting money into a vending machine.
Despite the fact that Monitor Gold-To-Go appears to be a low-cost solution to something as costly as gold, this does not imply that it is a good target for a cyberattack. Everything is meticulously watched, and the gold is kept in an extra-secure environment. The machine has a storage capacity of around ten gold bars. In 2011, the exchange rate was approximately $1,250 per ounce, which translates to approximately $35,000 per gramme when translated. You’re not getting a good deal, but you’re getting actual gold.
Gold To Go devices have been in operation in Abu Dhabi and Dubai for some time, but the machines are now available in more locations than you might expect. The main firm is based in Germany, and they intend to increase the number of devices installed in their own country. Several have already opened in various locations throughout Germany, including a shopping centre in Munich. It is still an odd concept to pay for all of your necessities with gold bars that you may purchase on the road.