10:24Bitcoin ATMs pop up throughout Las Vegas, as businesses expect big boom
LAS VEGAS — Chris McAlary is the founder of Las Vegas-based Coin Cloud.
The concept is simple: like your average ATM, you exchange cryptocurrency like Bitcoin for dollars, and vice versa.
McAlary says his business is the world's largest network of two-way digital currency kiosks, with 2,000 worldwide, 16 right here in Las Vegas.
But in the next few months, he's expecting to see the business grow in a big way.
"Going from roughly around 2,000 today to 10,000 by end of year," McAlary said. "Five-hundred percent"
McAlary says the popularity and interest are soaring.
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"It's booming," he said. "We're really excited. 2021 is sort of the year of the enterprise mainstream adoption of the digital currency machine."
Certified Financial Planner, and Wall Street Journal Best Selling author of "Redefining Financial Literacy” Cindy Couyoumjian says that's because Bitcoin is becoming a buzzword among investors.
Including the big news this week, when Coin Base---a platform where you can trade, sell and store cryptocurrency--made its public debut, pushing it further to the mainstream.
"There's a lot of excitement about it people are asking questions," Couyoumjian said.
And a hot spot for all this excitement could be right here in Las Vegas.
"Right now there's 14,000 ATMs throughout the world," said Couyoumjian. "Las Vegas, of course has 170 Bitcoin machines....what an opportunity!"
"Vegas is a great place for digital currencies," said McALary.
He says international tourism, is a huge reason why.
"Digital currencies is such a unique way to transmit and remit money across the world globally, instantly," he said.
And is gearing up to place his products not just into more casinos, but also grocery stores, coffee houses and more.
"Las Vegas is a leader in what's cutting edge in terms of bringing people, something new, something that is exciting," he said.
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