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BitXatm Launches Optional One- or Two-Way Bitcoin ATM

Germany's BitXatm is giving customers new control over their units with its latest upgrade.

May 15, 2014 at 9:31 p.m. UTC
Updated Sep 11, 2021 at 10:46 a.m. UTC

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

DISCLOSURE

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.

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