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Some people kill time at the airport by browsing duty-free shops. I decided to shop for bitcoin.

But first, there are two things you should know about me: I tend to be almost as afraid of losing money investing as I am of flying. On some level, I figured one fear might cancel out the other.

So last Thursday, while waiting for a flight to Nashville, I pulled up a popular application called Coinbase that can be used to buy and sell bitcoin. The virtual currency had hit $10,000 for the first time a couple days earlier, before retreating somewhat. News of bitcoin's rapid rise was everywhere, including on CNN.

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For 15 minutes at the airport, I refreshed the price of bitcoin over and over, watching as it gained and lost hundreds of dollars in a matter of minutes. I called out the price fluctuations breathlessly to my wife, who gently encouraged me not to be an idiot, before returning to her magazine.

She was in good company. JPMorgan Chase CEO Jamie Dimon recently called bitcoin a 'fraud' and suggested people who buy it are 'stupid.' Warren Buffett called bitcoin a 'mirage' in 2014 and warned investors to 'stay away.'

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And yet bitcoin has climbed more than tenfold since Buffett's warning. Earlier this month, one college friend casually told me over drinks he'd made tens of thousands of dollars investing in another cryptocurrency. He said he hoped it would be worth enough one day to buy a house.

When I saw the price of bitcoin fall to $9,500, I pressed buy, defying the wisdom of two finance titans and my wife. One hundred dollars, or 0.0101 bitcoins. (A few days later, I bought another $150.) By the time we got to our hotel, my stake had already gone up 10%. One week later, it was (briefly) up 100%. My wife's opinion of me has reportedly decreased by the same amount.

What is happening?

It's an investing frenzy, plain and simple.

Bitcoin cracked $1,000 on the first day of 2017. By this week, it was up to $12,000, and then it really took off: The price topped $17,000 on some exchanges Thursday, and $18,000 on at least one.Other cryptocurrencies have seen similar spikes, though they trade for much less than bitcoin.

There's a long list of factors people may point to in an attempt to explain this. Regulators have taken a hands-off approach to bitcoin in certain markets. Dozens of new hedge funds have launched this year to trade cryptocurrencies like bitcoin. The Nasdaq and Chicago Mercantile Exchange plan to let investors trade bitcoin futures, which may attract more professional investors.

Yet a key reason the price of bitcoin keeps going up is, well, because it keeps going up. Small investors like yours truly have a fear of missing out on a chance to get rich quick. And when the value of your bitcoin doubles in a week, as it did for me, it's easy to think you're a genius. But you can get burned assuming it will keep skyrocketing.

Some investors have likened the bitcoin hype to the dot-com bubble. Others, like Dimon, have said it's even 'worse' than the Dutch tulip mania from the 1600s, considered one of the most famous bubbles ever.

As Buffettput it back in 2014, 'the idea that [bitcoin] has some huge intrinsic value is just a joke in my view.' Bitcoin is not backed by a company's earnings, or the strength of a government and rule of law. There's also no interest or dividends.

Why would anyone want or need to use bitcoin?

Bitcoin serves as a new kind of currency for the digital era. It works across international borders and doesn't need to be backed by banks or governments.

Or at least that was the promise when it was created in 2009. The surge and volatility of bitcoin this year may be great for those who invested early, but it undermines bitcoin's viability as a currency.

Right now, I can use my bitcoin holdings to pay for purchases at Overstock(OSTBP), or book a hotel on Expedia(EXPE). But if I use bitcoin to buy $25 worth of socks on Overstock today, and the price of bitcoin quadruples next week, I'll feel like those socks actually cost me $100. Then again, if bitcoin crashes, at least I'll always have the socks.

Rather than a currency, bitcoin is being treated more like an asset, with the hope of reaping great returns in the future.

So is there anything truly valuable about bitcoin?

Yes, the technology behind it.

Bitcoin is built on the blockchain, a public ledger containing all the transaction data from anyone who uses bitcoin. Transactions are added to 'blocks' or the links of code that make up the chain, and each transaction must be recorded on a block.

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Even bitcoin critics like Dimon have said they support the use of blockchain technology for tracking payments.

Is there a legal and legitimate way to invest in bitcoin?

Bitcoin exchanges have a checkered history. Mt.Gox, once the largest exchange, shut down in 2014 after losing hundreds of millions of dollars worth of bitcoin after a hack.

Today, the leading exchange is offered by Coinbase, a startup that has raised more than $200 million from a number of top tier venture capital firms. Square(SQ), the payments service, is also rolling out a bitcoin product.

There are also bitcoin ATMs in scattered bodegas and convenience stores around the country, through companies like Coinsource. The ATMs let you exchange bitcoin for cash, or vice versa by scanning a QR code from the digital wallet application on your phone.

With Coinbase, you must first give the app permission to connect to your bank account. As with other stock trading applications, you pay a small fee for each transaction, buying and selling. But the transaction can take significantly longer.

My original $100 bitcoin purchase won't officially be completed on Coinbase until Friday, more than a week after the transaction. The price I bought it at remains the same, but I won't be able to sell at the earliest until Friday.

If the price plummets before then, I'm out of luck. No socks for me.

-- CNN's Selena Larson contributed to this report.

CNNMoney (New York) First published December 7, 2017: 3:02 PM ET

At most legitimate offshore gambling sites, players are given a variety of options for funding their accounts. And while credit and debit transactions remain in popular use, Bitcoin (BTC) is now the gold standard.

If there’s a problem with Bitcoin, however, it’s in the initial acquisition of the stuff. As opposed to other banking methods, Bitcoin takes a bit of setup before you can actually use it, and that setup takes time.

Most mainstream BTC buy-ins – sites like Coinbase or major exchanges that accept USD for conversion to the cryptocurrency – require customers to wait up to 10 days before they can get their hands on their Bitcoin. For Internet gambling, such a wait is far from ideal, and that wait can push online gamers away from embracing this superior monetary medium.

But there’s finally a solution: Zelle.

What Is Zelle?

Zelle is an instant-pay platform developed and owned by a consortium of the largest US banks and financial institutions. In fact, the chances are good that you already have access to Zelle through your bank or online banking app.

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Al Ko, CEO of the service, breaks down Zelle’s current adoption rate:

“More than 64% of U.S. demand deposit accounts…have access to Zelle through the 480 financial institutions contracted to join the Zelle Network. We continue to see double-digit increases in new customer [gains] each month, demonstrating continued demand for Zelle from national and regional banks and credit unions.”

At heart, Zelle is a competitor in the space previously dominated by PayPal and PayPal’s Venmo service. And though the latter has more mindshare in the marketplace, Zelle transactions account for far more volume. In the last quarter alone, US customers undertook 171 million Zelle transfers for over $44 billion.

The key difference between Zelle vs. Paypal/Venmo is that Zelle is a US-only product, good for transactions exclusively between US bank account holders. PayPal is a global brand, and many non-US casino sites offer PayPal support, which has been a point of significant annoyance for US-based gamblers.

Zelle fixes that.

There is one caveat, however: You can’t use Zelle to transfer funds to your favorite casino sites directly. Instead, Zelle is a quick, easy entry point to Bitcoin, which you then use to load up your gambling account.

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How To Buy Bitcoin With Zelle

Several casino sites – like Bovada and Ignition Casino, among others – offer primers on their cashier pages for how to use Zelle to fund member accounts. That said, you aren’t limited to these operators if you want to go the Zelle-to-Bitcoin route.

No matter which offshore gambling site you prefer, they all support Bitcoin as a matter of course. In effect, then, all these venues are essentially Zelle casinos – you just have to do a little legwork at the outset. Namely, that legwork involves setting up a free account at a site called LocalBitcoins.

The process is outlined in detail at the previous link, but in a nutshell, here’s how you can use Zelle to fund your online gambling hobby:

Can You Buy Bitcoin With Zelle

  1. Sign up at a legitimate online casino that offers BTC deposit options. (All of the most reputable sites fall into this category, so you have several good providers at your disposal.)
  2. Make sure your bank already offers Zelle support. Alternatively, you can download the official Zelle app for iPhone or Android and link it to your Visa or Mastercard account, as these companies are Zelle partners.
  3. Sign up at LocalBitcoins.com.
  4. Use Zelle to purchase BTC from any private seller on LocalBitcoins. You will receive your BTC at the crypto wallet of your choice in just a few minutes.
  5. Bitcoin in hand, simply log on to your casino site, choose the BTC deposit method, and transfer your gambling funds to the site’s provided BTC address.
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That’s the entire process, start to finish. Instead of having to wait a week or two to gamble with Bitcoin, Zelle lets players buy that BTC – and transfer it to their chosen gaming sites – in under an hour.

And that means you never have to miss out on a good hand of poker, a progressive slots payout, a sure-thing pony in this afternoon’s race, or an attractive betting line on tonight’s ballgame.

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What Is LocalBitcoins?

LocalBitcoins.com is the gateway that makes Zelle work for offshore gamblers. The site is a major global BTC marketplace serving more than 240 countries around the world, and it was founded in Finland in 2012. Because LocalBitcoins links private BTC buyers with private BTC sellers, you can bypass the typical red-tape rigmarole associated with purchasing cryptocurrency through FDIC-insured frontends.

Despite a lack of government licensing and regulation, however, LocalBitcoins is inherently safe to use. This is because the site employs an encrypted escrow system.

In other words, when you use Zelle to buy Bitcoin at LocalBitcoins, the site takes immediate custody of the seller’s BTC as your payment is processed. Once your Zelle payment clears, LocalBitcoins releases the agreed-upon quantity of Bitcoin into your possession, eliminating any opportunity for bait-and-switch scams on the network.

LocalBitcoins is a proven, trusted platform that has processed billions of dollars in BTC over the years, and you can feel safe using the site any time you want to purchase Bitcoin.

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Bitcoin Is Even Better With Zelle

Bitcoin is the preferred way to deposit into your betting account for a number of reasons. You can get better welcome bonuses and deposit perks, for one thing. For another, your deposit will never be declined by the likes of the UIGEA, which guarantees success for every banking transaction.

The biggest benefit of going the Bitcoin route, of course, is that BTC is the only way to get same-day payouts at offshore betting and gambling sites. However, to get these same-day payouts via BTC, you have to deposit with BTC to begin with.

There’s also another thing to consider about legitimate Bitcoin casinos, and that’s that no domestic online casino site or brick-and-mortar gambling venue in the US currently supports BTC. If you want to enjoy the anonymity and security of using decentralized currency to keep your gambling activities private, Bitcoin is the answer, and it’s only supported by offshore gaming sites.

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To maximize the convenience of online and mobile casino gaming, Bitcoin is the way to go.

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And since Zelle makes Bitcoin more accessible for gamblers than ever, this new funding model is just one more way that the offshore providers continue to one-up domestic operators.

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If you’ve been waiting for a quick, convenient way to buy into Bitcoin for your gambling needs, Zelle is the answer.