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First Bitcoin ATM in Las Vegas Casino
- May 23, 2014 By Oliver Young -
The D Hotel and Casino is the first ever Las Vegas casino to have its own Bitcoin ATM. The 5-foot, 7-inch machine placed next to the gift shop of the hotel allows customers to convert cash into Bitcoin and vice versa. Robocoin is the manufacturer of the world’s first ever Bitcoin ATM.
The big blue box in the D Casino powered up on Thursday, May 22, 2014 might soon shake things up in the gambling industry. At least that is what Jordan Kelley and Derek Stevens are hoping for.
Derek Stevens, the owner of the casino, told Jordan Kelley, CEO of Robocoin according to the Review-Journal:
“I’m anxious and very excited. This is going to change the international gaming market considerably and it is going to add enormous value from a gaming perspective.”
According to Stevens the Bitcoin ATM is not something you can predict easily. The Robocoin machine can hold up to $500,000 in cash. Kelley believes that the Bitcoin ATM would attract rich businessmen that would store a lot of money in Bitcoin before heading to Las Vegas and they would empty their e-wallets in form of other currency at the D Casino.
How to Use It
Before depositing or cashing out cash, customers must create a Robocoin account. They have to type in their phone number and get verification SMS and then enter the verification code into the Bitcoin ATM, creating a PIN. Then they should slide their ID card, put a hand over a scan and the machine would take a picture of the customer. The process lasts less than 5 minutes and after is has been set up, customers can use the machine with phone and PIN verification.
Robocoin released the first ever Bitcoin ATM in a coffee shop in Canada this October. According to Kelly, the machine had made transactions worth up to $1 million in the first twenty-nine days. Then the company started selling ATM around the world, shipping 55 machines to Japan, Singapore and even Australia. There are six of them in the USA.
The ATM at the D Casino is called “lucky No. 7” by Kelly. The casino began accepting Bitcoin for non-gaming purposes in January and Stevens says that it has attracted people from Asia and Europe, which he didn’t expect.
“I wouldn’t even know how to target certain parts of Asia and Europe,” said Stevens. “The machine has broadened our target base.” After the Gaming Control Board of Nevada reviewed the security of Robocoin transactions it gave thumbs up to install the machine.
Kelley also added that he expects to launch another Bitcoin ATM in the Sin City in June and at least 5 more by the end of 2014. “Having a machine in a casino is a proof to how far Bitcoin has come,” he said. “We have built the best Bitcoin ATM in its space, and we shine a very compliant light on Bitcoin.”