The first casino located in Las Vegas has installed a bitcoin ATM to help it’s customer convert their winnings into bitcoin.
The bitcoin ATM will allow customers to exchange their dollars for bitcoins in a matter of minutes.
Kiosk owners said they’re going to install more machines at other Las Vegas casinos, as well as across America.
Las Vegas now joins New Jersey’s Borgata Casino which installed it’s first bitcoin ATM back in October 2014. The machine was designed by Lamassu Bitcoin Ventures Inc, who has since sold 70 units into North American casino markets, including Toronto-based Cineplex Entertainment LP – Canada’s largest entertainment company with over 80 theatres nationwide.
But will you be able to gamble at casinos using bitcoin soon?
We’re not sure really if you will be able to gamble at casinos using bitcoin just yet, however it’s for sure of interest to the gambling paradise that is Las Vegas.
We’ll keep you posted if we hear anything else on the matter, but for now it’s probably best to stick with paper cash and traditional table games like roulette and craps.
– Bitcoin is an online virtual currency that has no central monetary authority and thus, unlike any fiat currencies, it’s not backed by gold or silver. It can be used to purchase goods and services from the Internet at a very low transaction cost without needing credit cards, bank accounts or even physical addresses – making transactions as cheap and quick as sending e-mails.
Bitcoin was created in 2009 by someone who calls himself ‘Satoshi Nakamoto,’ but their real identity remains unknown to this day. The bitcoin network is peer-to-peer meaning there are no middlemen involved when you exchange bitcoins with another user; all payments take place between users directly through the use of cryptography where each participant maintains their own private keys