The newest craze in Las Vegas is the bitcoin. While you cannot yet gamble with this internet-based currency, you can pay for your hotel stay at two Sin City establishments. Both the Golden Gate Hotel and Casino and the D Las Vegas Casino Hotel, located downtown, have added Bitcoin to its approved methods of payment. Five locations around the casinos will accept bitcoin payment: the front desks, the gift shop at the D, and restaurants Andiamo Steakhouse and American Coney Island.
Bitcoin is a growing international monetary system utilizing digital currency to pay for goods and services. Using a virtual wallet and encrypted software, bitcoins can be spent worldwide and transactions appear in a matter of minutes, with no regular delays like a traditional bank. Gaining popularity, there are concerns about the lack of consumer protection and bitcoin use for illegal activity but the lower fees charged for their use is below that of a credit card or currency conversion fee, making it a win for merchants.
Given that Bitcoin just held an international conference in Las Vegas in December, it’s no surprise that merchants are jumping on this bandwagon. It’s the kind of currency that lures e-geeks and forward-thinking entrepreneurs into their establishments, bringing with them the traditional cash that keeps them afloat.
For more information on restaurants in the Las Vegas area that accept bitcoins, check out Bitcoins in Vegas blog.