During CES 2015, one of the largest technology conferences in the United States, a bitcoin ATM company plans to host an unveiling of their new machine. For tech junkies in the area or those visiting the CES conference, Coin Cloud is hosting their launch party for…
The party will take place on Friday, Jan. 9 from 6 p.m. to 9 p.m. The Gold Spike is an interesting venue for the event, as it operates as a bar and restaurant by day but a party spot at night. They have an area called “The Living Room” as well as one called “The Backyard” during their always-open hours of operations. Customers can play pool, shuffleboard, corn-hole and even a giant game of Connect Four.
Coin Cloud apparently plans to target casinos, malls and most tourist destinations in their business plan for Bitcoin ATM expansion. They boast that they’re able to make travel easy for bitcoin users, but the current problem most bitcoin users face is spending their bitcoin.
While not associated with Coin Cloud, last year an ATM running on Robocoin opened in Las Vegas. According to a review of the Robocoin-based ATM given to CCN writer Scott Fargo, the Robocoin machine did not function as well as expected. They also complained about high fees.
“This is an ATM, and they are treating it like a commodity trading device. They can process a trade behind on an exchange at that moment and keep the risk at a minimum, but the difference would be like 0.5%.”
“I do not see these machines becoming successful unless they change the fees. During my time there, I saw like 10 groups wondering what it was all about, but when they saw the price between buy and sell, they all said no way will they try Bitcoin.”
“If anything these ATM are discouraging people to try Bitcoin instead of helping.”
The Robocoin-based ATM that received the negative feedback is not associated with Coin Cloud, but was a negative experience for bitcoin users in Las Vegas. In fact, Coin Cloud told CCN they’ve ended all further business relations with Robocoin due to issues reported by other operators on Reddit.
Coin Cloud is now in a position to make bitcoin ATMs in Las Vegas something highly sought after following the negative feedback of their competitor, bringing the technology to the Gold Spike running on BitAccess. By targeting the consumers they’re looking for, it will be interesting to see if they continue to receive better reviews than others in the area.
Images from Pixabay and Shutterstock.
Last modified: January 25, 2020 10:08 PM UTC