Bit-Wallet Launches Italy's First Home-Grown Bitcoin ATM

A new brand of bitcoin ATM from Italy is tested and ready for shipping worldwide, says manufacturer Bit-Wallet, which produced the machine in cooperation with Italy's first cryptocurrency consultancy agency, CoinCapital.

The ATM's compact size, price and feature set look ready to challenge Lamassu’s machines, which have proliferated in cafes and showrooms around the world since launching in October of last year.

Like Lamassu, Bit-Wallet says its devices also have the option to be bi-directional, meaning users can buy bitcoins and also sell them for cash. This makes the devices more like 'traditional' ATMs, which have deposit and withdrawal functions, rather than bitcoin vending machines.

Specs and price

The Bit-Wallet ATM's total weight (minus cash) is 20kg and its cash reader can be programmed to accept any paper currency. Like most other bitcoin ATMs, the machine connects to the Internet via Wi-Fi.

The price for a one-way 'buy-bitcoins-only' ATM is €3,100 (plus sales tax and shipping) making it fairly competitive with rivals. Bit-Wallet says will ship orders anywhere in the world, providing local regulations do not restrict the machines.

Prices for the bi-directional version are available from Bit-Wallet on request, and are currently pre-order only.

Demonstration tour

Bit-Wallet's Stefano Mezzetti said the company demonstrated the ATM at the recent 'Bitcoin. The Revolution Has Started' event in Milan, which was also organized in collaboration with CoinCapital, along with Mapendo, at the local business accelerator Working Capital (WCAP).

The ATM will now move to the Working Capital location in Rome.

CoinCapital in Italy

CoinCapital's Sebastiano Scrofina said his company carries out both hardware and software development for a number of clients, and was recently asked to develop an entire altcoin for one of them.

The company also engages in lobbying and advocacy activities. It organized the first bitcoin hearing for a dozen lawmakers and high-level institutions at Italy's parliament on 11th June – which Scrofina said was productive – and is also in talks with Italian banks to help them understand the concept of block chain technologies.

CoinCapital also translated Benjamin Guttmann's The Bitcoin Bible into Italian, which will be available across the country within days.

Images via Bit-Wallet