- Some Las Vegas restaurants accept payment in bitcoin, so I decided to try to buy bitcoin from a casino’s bitcoin ATM.
- I lost all my money.
- Considering the exorbitant bitcoin ATM fee, I have real doubts as to whether or not bitcoin has a real future as a currency.
LAS VEGAS – I’ve been in Las Vegas for a whole week, but I’ve only gambled twice: when I played $1 on The Simpsons slot machine in my hotel, and when I tried to buy $1 (and then, another $10) of bitcoin from a casino ATM.
Both times, I lost it all.
I had heard that the D, a casino and hotel in downtown Las Vegas, had a bitcoin ATM that made it easy to buy and sell the red-hot digital currency. I was intrigued by my colleague’s account of a bitcoin ATM in New York City, which he used to buy $5 of bitcoin back in September. So I figured, hey, Las Vegas is about taking chances, and so is bitcoin.
I’m no cryptocurrency expert — once, many years ago, someone sent me a super-tiny sliver of bitcoin that vanished when the app he used to send it shut down, and I haven’t touched it since. So to get started, I went in intending to invest a single, solitary dollar.
To use the ATM, I first had to download a bitcoin-wallet app, which you use to store your digital currency. I settled on Coinbase, from the $1.6 billion startup of the same name. I verified my account, easy-peasy, got my unique QR code to receive funds, and I was ready to go.
The ATM experience itself started out smoothly. Before I even started, it told me it was valuing bitcoin at a hair over $15,000 per coin, meaning my Read More Here