Las Vegas Strip Warms Up To Cryptocurrencies

Las Vegas Strip Warms Up To Cryptocurrencies
Pratik Makadiya

Businesses in one of the most iconic tourist destinations in the United States - the Las Vegas Strip,  now accepts cryptocurrencies as payment. Due to state regulations, casinos do not accept digital currencies for gambling, but restaurants and retail outlets inside the gambling houses accept cryptocurrencies. Most of these businesses accept digital tokens to lure in the freshly minted crypto millionaires.

According to Las Vegas Review-Journal, there are about seven conferences in Las Vegas whose main agenda is cryptocurrencies and blockchain technology. Moreover, several businesses on the Strip have received requests to facilitate payments via digital currencies.  

Pay For Lap Dances With Cryptos

Elena Bulatova Fine Art at The Shops at Crystals started accepting cryptocurrencies throughout all the outlets in the country after receiving several inquiries. Soon after she made the first sale with Bitcoin at the Palm Springs outlet.

“I thought accepting cryptocurrencies would increase the buying pool of people. If someone bought cryptocurrencies a few years ago, they can afford to buy a lot of things now, like artwork. I think there is a big future for cryptocurrencies.”

Bulatova

According to Ryan Dahlstrom, a certified and Award-Winning consultant in the  Nightclub, Bar & Restaurant Industry, said that he is active talks with several Strip restaurants and bars to employ cryptocurrency as payments. Also, there are plans in the near future to develop exclusively crypto venues.

Last year the Legends Room, launched their own digital token - LGD, which can be used to pay for drinks and lap dances. The LGD token can be changed for cash or exchanged for Bitcoin at trading exchanges like Bittrex. Moreover, the club also accepts several other cryptocurrencies.

Peter Klamka, who manages LGD payments for the club, said:

“It is a great marketing angle for a casino. There is a fanatical audience devoted to crypto. They tend to be young, sophisticated and loyal with disposable income.”

Peter Klamka

Want More Business? Accept Cryptocurrencies

The cryptocurrency craze has led many businesses, including the hospitality industry, to jump on the crypto bandwagon. These businesses aim to offer to the early investors of digital currencies, especially Bitcoin, who have become millionaires due to the surging prices over 2017 rally.

As noted by Las Vegas Review-Journal, a Las Vegas Bitcoin owner John Williams, said:

“I go out of my way sometimes to support the place that accepts crypto. A business that accepts crypto is more likely to be willing to try new things to provide a better customer experience. They are more likely to have a similar mindset. ”

John Williams - a Bitcoin holder

Several businesses on the Strip are looking forward to accepting crypto payments. Accepting digital currencies has become a marketing tool to attract participants of the cryptocurrency conferences. The venues that already accept cryptocurrencies tend to receive additional business, especially from crypto enthusiasts due to its unique offering.