The latest product upgrade released by Bitcoin ATM manufacturer Lamassu now enables its machines for two-way transactions, allowing customers to receive cash from their Bitcoin wallet.
Aptly called the Santo Tirso floor stand, the newest addition to the Lamassu Bitcoin ATM is optimized to improve the functionalities of the manufacturer’s current line of machines, and therefore, compete against the recently upgraded Robocoin ATMs that have the ability to send funds to phone numbers.
“It was important for us to give operators the choice of one-way or two-way transactions,” said Lamassu CEO Zach Harvey. “Our modular design allows them the ability to choose a cash-to-bitcoin machine, or the option of adding a stand that enables two-way transactions.”
The Lamassu Santo Tirso stand, which will debut at the Bitcoin 2014 conference in Amsterdam on May 15, will provide the flexibility Bitcoin ATM operators and customers demand for.
According to the product details released, the upgrade to the Bitcoin ATM capable of only one-way transactions will hold up to 1,000 notes of any fiat currency, depending on the operator’s preferences. Not only will this make the machine applicable for use in different countries, but it will also clearly make the virtual currency more useful and convenient for Bitcoin users.
Although mum on the number of orders placed for the new floor stand, Lamassu announced that operators have already expressed their interest and started investing in the upgrade.
With another technology introduced for the enhancement of Bitcoin transactions, Bitcoin users, especially in places where such ATMs are put up, will experience the convenience in acquiring the virtual currency and exchanging it for cash.
Clearly, the availability of the two-way function will prevent users in various industries like Bitcoin binary options trading, retailing, and Bitcoin online gambling, to develop skills in trading and to completely rely on a Bitcoin exchange to purchase and sell the digital and real currencies online.
With the recent fiasco faced by some online Bitcoin trading marketplaces, the new Lamassu Bitcoin ATM will significantly make Bitcoin transactions easier and faster.