Bitcoin Use Gets Popular in Las Vegas

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Introduction of bitcoin to Las Vegas proves successfullLas Vegas is almost synonymous with gambling, and the moment someone says “Las Vegas,” images of high rollers and wealthy tourists come to mind. Las Vegas is now becoming the home of something new—large bitcoin bets.

McAlary Seizes Bitcoin Opportunity

The fascination for bitcoin is intensifying among Las Vegas gamblers, and a professional poker player residing in Las Vegas was among the first to notice the trend. Chris McAlary, the 29-year-old entrepreneur, decided to bet all-in on the bitcoin opportunity. He invested all his liquid assets on the creation of Coin Cloud, a company that focuses on the operation of bitcoin ATMs.

McAlary strongly believes that bitcoin has a great future and that the number of high rollers who choose to gamble in bitcoins is on the rise. There are several factors in favor of bitcoin becoming popular in Las Vegas, and if entrepreneurs such as McAlary prove it, casinos all over the world will start accepting bets in bitcoins.

McAlary says: “There’s no question that cryptocurrencies such as bitcoin have the potential to be one of the most important innovations of the 21st century. Las Vegas could be one of the places that really help drive it all forward.”

Bitcoin ATMs in Las Vegas

Coin Cloud operates bitcoin ATMs that are actually kiosks with Internet facilities, enabling users to either purchase or sell their bitcoins. This summer, a bitcoin ATM went live at key areas, just a short distance from the busy Las Vegas Strip. The machine performed much better than what McAlary had estimated. In just 45 days, it was performing much better than a bitcoin ATM located in Vancouver in Canada, and soon, it became the world’s number one bitcoin ATM.

Although he does not reveal the exact figure, McAlary hints that the bitcoin ATM has processed transactions worth more than $1 million.

Vegas to Become Bitcoin Hub

The average US citizen has not yet discovered the joys of using bitcoin, but Las Vegas is rapidly transforming into a heaven for bitcoin users.

Major businesses all over the country are beginning to take bitcoin seriously. Early this September, Braintree, PayPal’s mobile and online payment processing platform, announced an integration of bitcoin into its business platform. Major companies such as Overstock.com and Expedia also accept payments in bitcoins.

The Sin City attracts a large number of visitors from different parts of the world, and all of them want to spend their money there. According to the Coin Cloud website, businesses are increasingly looking for bitcoin ATMs as they “attract hundreds of new customers.” McAlary launched his first bitcoin ATM called Bitcoin Bodega in Viva Vegas, a souvenir shop that gets over 100,000 visitors daily.

Most of the people who visit Las Vegas are wealthy foreigners who are looking for facilities to instantly access their money and use it for gambling purposes. They prefer bitcoins as they enable them to play and win anonymously without having to pay any transfer fees to government regulated banks.

October 10, 2014: • No Comments

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