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D Casino in Vegas Installs Bitcoin ATM

The new automatic teller machine, at the D casino in Downtown Las Vegas, will allow ATM users to top up their Bitcoin accounts and also exchange the alternative currency for cash. Bitcoin has yet to be approved for casino trade.

Seventh such ATM in USA

The D Casino in Downtown Las Vegas is the first gaming hall in Sin City and the first in Nevada to introduce a Bitcoin ATM. Developed in 2008, Bitcoin is an alternative international currency that is traded between individuals, businesses or both instead of cash or credit cards. No single company or government backs it, and there are no assets behind it, according to the Las Vegas Sun.

In January, the D began accepting Bitcoin as payment at the hotel’s front desk, restaurants and gift shop. The D’s sister property downtown, the Golden Gate, also accepts Bitcoin for payment at its front desk.

Robocoin is the first company to offer a Bitcoin ATM in the United States. The D is the seventh U.S. property to install a kiosk onsite. There are four such machines in Texas, and one each in California and Washington state. The ATM allows users to exchange Bitcoin for dollars.

“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.”

Nevada regulators have yet to approve the currency for use in casinos. Robocoin CEO Jordan Kelley said that will change over time as industries recognize its value in terms of “anti-money laundering/know your customer compliance.”

The actual value of the currency is variable and “is determined at the instant a transaction is made,” the Sun reported.