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Bitcoin ATM companies roll out new products prior to Amsterdam meet-up

Published

May 16, 2014

In advance of the Bitcoin Foundation-organized Bitcoin 2014 conference May 15–17 in Amsterdam, several of the world's proliferating Bitcoin ATM providers announced new product rollouts this week.

BitXatm

A new Bitcoin ATM by German provider BitXatm lets the deployer decide whether it will function as a one-way (cash in) or two-way (cash in-cash out) machine.

The switching feature, called “smart remote control,” is being offered on the BitXatm Sumo Pro unit. Previously, the company's machines offered only one-way transactions.

According to a report by Coindesk, the cash in units will accept 300 to 600 banknotes and dispense up to 30 notes, in total.

All new orders of the Sumo Pro will include switching capability; the function can be added to existing orders at no charge, but upgrades will delay shipments by four to six weeks, the article said.

BitXatm units retail for 3,900 euros ($5,349), according to the report.

Lamassu

U.S.-based Lamassu is offering its own two-way Bitcoin ATM solution with the Santo Tirso floor stand. The modular unit includes a bill dispenser that adds cash-out functionality to the company’s cash in Bitcoin machine.

According to a report by newsbtc.com, the stand can accommodate virtually any currency and is compatible with all Lamassu units in operation today.

The Lamassu solution comes with a considerably higher note capacity than the BitXatm — 1,000 as compared with around 600. It also comes at a higher price: The note-dispensing pedestal alone retails for $5,500 (the machine costs an additional $6,500). A non-dispensing stand for the Lamassu machine is priced at $1,800. 

Diamond Circle

Australia’s Diamond Circle is launching a Bitcoin debit card, in conjunction with its UK distributor Swiftbitz.

A Coindesk report said that the NFC-enabled card will work exclusively with Diamond Circle’s cashless Bitcoin ATM, its forthcoming merchant point-of-sale solution and its online exchange.

The card will link to the user’s Bitcoin wallet and can store as many as nine fiat currencies as well as Bitcoin.