BitXatm Launches Optional One- or Two-Way Bitcoin ATM
Germany's BitXatm is giving customers new control over their units with its latest upgrade.
Germany-based digital currency ATM provider BitXatm has announced a novel upgrade to its existing Sumo Pro ATM product.
Called 'Smart Remote Control', the new feature allows owners to switch between one-way and two-way transaction capabilities. This means operators will be able to provide cash-to-digital currency transactions only, or both digital currency-to-fiat and fiat-to-digital currency transactions.
With the update, BitXatm's Sumo Pro will function more like traditional bitcoin ATMs, allowing two-way transactions. The company had previously offered one-way machines, while emphasizing its point-of-sale bill payment service.
Upgraded Sumo Pro units will be delivered with the capacity to store 300 to 600 incoming banknotes, and a cash recycler that will hold 30 notes for withdrawals.
Gabriel Prodanescu, CEO of BitXatm, believes the upgrade will allow owners better manage their risk level.
For example, he said that the upgraded Sumo Pro units allow merchants who want to process larger transactions the ability to do so, while those who worry about holding large cash reserves can store less physical currency.
Ready for shipment
BitXatm told CoinDesk that it is ready to ship all existing orders of its units by the end of May, and that these customers can elect to upgrade their units with Smart Remote Control at no additional cost. However, those who choose to upgrade will not receive their units until the end of June due to high order volumes.
New orders will be delivered between four and six weeks after payment and will come standard with Smart Remote Control.
Prodanescu told CoinDesk that the upgraded Sumo Pros will retail for around €3,900.
ATM and POS play
Billed as an ATM and POS system, BitXatm offers a number of additional functionalities with its Sumo Pro product, including a web-based back-end that allows owners to watch cash flow, profits and change settings on the unit in real time.
The company's Sumo Pro unit can accept payments in any digital currency and any fiat currency, and comes free of any additional upkeep payments.
For more on BitXatm, read our full report on the company's Sumo Pro launch.
Image via BitXatm
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.
Learn more about Consensus 2024, CoinDesk’s longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.