The first bitcoin ATM has arrived in Nevada, and into a Las Vegas casino, all thanks to two Las Vegas-based businesses. The bitcoin ATM, which is developed by Robocoin, is also the first ever of its kind to be located in such an entertainment facility in the world.
The D Las Vegas installed the ATM, which will allow users to convert bitcoin into cash and cash into bitcoins, in its premises on Wednesday, reported the Las Vegas Sun.
“The D and Robocoin are both located in the growing high-tech hub of downtown Las Vegas, which made this a natural fit,” said Derek Stevens, co-owner and CEO of the D. “But we ultimately chose Robocoin because it is easy to use, extremely secure and one of the best brands in Bitcoin.”
Las Vegas authorities are yet to decide whether to allow the use of bitcoin in casinos. Nonetheless, The D started accepting payments in bitcoins in its hotel’s reception, its gift shop and restaurants. Its other facility, the Golden Gate, also accepts bitcoin payments in its front desk.
Robocoin’s Chief Executive Officer Jordan Kelley was optimistic that acceptance for bitcoin is growing.
“Robocoin has emerged as Bitcoin’s leader in anti-money laundering/know your customer compliance,” Kelley said. “Last month, we demonstrated our capabilities in front of Congress and this month we’ll launch in … Nevada.”
Robocoin was the first company to pioneer a bitcoin ATM in the US, where it has seven such equipment spread across the United States, including the one at the D casino. Bitcoin is a virtual currency that is not backed by any government, company or central bank, and is exchanged without the use of intermediaries such as banks. To register for a free 2-week subscription to ForexMinute Premium Plan, visit www.forexminute.com/newsletter.
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