Bitcoin is a cryptocurrency that has made shockwaves throughout the news, off and on, over the last few years. Its meteoric rise from pennies to over $1,000 in less than a few years was astonishing if not entirely mind-blowing. For those unfamiliar with Bitcoin or any alternative currencies in general, the value of a Bitcoin was a foreign concept. Why is it worth money? How is the price determined? These are all questions many had, but in time, the general public grew to accept the virtual currency as yet another way to pay for goods and services, just as you can with the US dollar or paper money from anywhere around the world.
As is the case with most forms of money, Las Vegas has been (relatively) quick to find ways to ensure that they have the ability to win some of these Bitcoin bankrolls at their casinos, and for visitors to spend their BTC at stores, restaurants, and hotels alike. When you come to Las Vegas, your Bitcoins will spend just about as well as your cash, and at this point in time, the convenience is just about on par with that of an ATM. Yes, you will need to go to some particular locations in order to turn your Bitcoins into actual USD money, but they are fairly spread out and accessible, located within a few minutes of just about anywhere in the greater Las Vegas area.
Where to Get Cash for Bitcoins in Las Vegas
You will not be able to sit down at a Las Vegas casino, ask for a Bitcoin wallet address, and transfer your desired quantity of coins right to the casino, but the options for getting cash to Bitcoin are awfully close to this scenario. If you are visiting Downtown Las Vegas, also known as Fremont Street or “Old Vegas,” you will be in the most prime Bitcoin area around. Derek Stevens, who has been paramount in much of the turnaround on Fremont Street, was the first to adopt the cryptocurrency in order to create a Bitcoin casino in Las Vegas. Stevens owns Golden Gate and The D, both downtown bitcoin casinos that currently either accept BTC directly at their properties and also have ATMs available for instant cash conversion.
For Bitcoin owners and enthusiasts that are looking to gamble, the Bitcoin ATMs are the best way to turn your BTC into cash. If you are looking to pay for a hotel stay, dining, or other purchases along these lines, Golden Gate and The D will accept Bitcoins on the spot. This is a level of convenience that is unmatched. Simply ensure that you have access to your coins and wallet, and your transaction will be a breeze.
Fees for Las Vegas Bitcoin Conversion
Make no mistake about it, the brick and mortar rates for changing BTC into cash are significantly higher than they are at online competitors. The convenience of having an actual ATM to get immediate cash for BTC is unmatched, and the owners and operators of the ATMs know this, and they will charge you accordingly. With all of that said, Las Vegas is in line with ATMs located around the world, and as the landscape for these products becomes more competitive, you should see these buy and sell rates begin to drop, potentially quite dramatically.
In Las Vegas, your best option on the buy side (turning cash into BTC) will be at the Deja Vu Love Boutique. At this location, you will be able to purchase Bitcoins for 3.9%. This is a very fair rate and is not terribly higher than what you will find online. This ATM is located at 3247 Sammy Davis Jr. Dr., Las Vegas.
If you are looking to sell Bitcoins for actual cash in hand, which most people at these ATMs are, you will find the best rates (currently 4.2%) at either 76 Gas Station located on Charleston Blvd. After these, there are several other options that hover around the 5% range. The D is the highest at 5% on the dot, but all are within the 4-5% range, so at most you will be losing a fraction of a percent when compared to the absolute best deal available.
Convenience is king, especially when it comes to receiving quick cash on the spot, and BTC ATMs are a perfect illustration of this. You would be unlikely to accept 5% fees on a debit card withdrawal from your bank account, but it is still pretty cool that you can get cash for your Bitcoins in Las Vegas, and we would bet on the rates going down, and availability going up, with each passing year.
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Hey, Marc! Good to know. Is this still accurate? I’ve seen reports of a Bitcoin ATM going in at Lucky Dragon. I’m staying on the strip and would like to use my Bitcoin to bankroll my play time. It would be convenient to have an updated resource. I found a site with a list. The rates listed are different than what you have and a larger list, but I’d rather get the info from a trusted source before Ubering around the city. 😉 Thanks!
That Bitcoin ATM was installed when the casino opened. I didn’t notice it when I visited. I believe there are also machines at the Plaza and The D. Not sure of other Strip locations.