The Bitcoin ATM race is definitely heating up in southern Europe, as several manufacturers are rolling out their machines to the general public. Bit-Wallet is the very first Italian Bitcoin vending machine, created in collaboration with CoinCapital. As you come to expect from Italian “goods”, the design looks really slick and classy.
Bit-Wallet brings easy, fast and secure Bitcoin purchases to the consumer, and it also brings possibilities for Italian Bitcoin distributors to the table. By offering two-way transactions, both buying and selling Bitcoin in exchange for fiat currency has never been easier. The Bit-Bidirectional Wallet gives anyone the power to become their very own Bitcoin bank.
As far as the internals of the Bit-Wallet go, there is a nice 10” touch screen which gives a good overview of the interface. With a weight of 20 kg, and dimensions of 45cmx50cmx40cm, it still remains a somewhat portable machine. It actually looks a bit like the Lamassu Bitcoin ATMs if you ask me, but I’ll let our readers be the judge of that.
The Bit-Wallet one Direction (which allows users to buy Bitcoin from the machine but not sell any Bitcoin) is priced at 3.100 EUR excluding IVA and transportation costs, and is available to order right now. On the other hand, the Bit-Wallet Bidirection has no pricing listed, and in order to purchase one, you will have to contact BitWallet support.
Even though the Bit-Wallet is aimed at the Italian market, there are plans to distribute the machines in the rest of Europe at a later point in time. AML/KYC systems are currently being developed in order to ensure compliance and regulation for other European markets. New features are currently in development as well, including providing additional liquidity through external Bitcoin exchanges.
Some of you may know Italy is not too keen on Bitcoin and digital currencies at this point in time. The Bank of Italy openly warned about the potential risks surrounding Bitcoin. Other officials have warned about Bitcoin potentially being used by criminals and are pressing for regulation which would allow the tracing and identification of Bitcoin users.
Despite all of these obstacles, Bitcoin is growing in popularity on Italy. Several retail businesses have their own Bitcoin ATMs installed in fact, with the most recent Bitcoin ATM showing up in a contemporary clothing store in Reggio Emilia. None of these devices are Bit-Wallets though, but it wouldn’t surprise us to see a few of those pop up left and right in the near future.