Top 10 Bitcoin Prominent Hotspots for Cryptocurrencies
Bitcoin wasn’t without debate, but one truth is unquestionable: more and more shops and sites are eager to accept cryptocurrency for payment. In this article, we uncover which regions are at the frontline of embracing virtual money.
These cities were chosen based on the number of retailers accepting Bitcoin, the frequency of bitcoin ATMs in each location, and the population size concerning bitcoin activity. Coinmap, a collaborative listing and location service for bitcoin merchants, & Coin ATM Radar, which provides the position of bitcoin ATMs, were used to gather merchant data. The existence of key crypto companies and industry pioneers was also taken into account.
As of October 2021, these are the top ten bitcoin-adoption cities:
1. San Francisco, USA
It’s no surprise that the United States’ technology powerhouse, San Francisco, takes the top spot on this list. Coinbase and Kraken, two major cryptocurrency exchanges, are based in the city. Over a hundred businesses, including restaurants, pubs, hostels, and shops, now accept bitcoin as payment. There are around 437 bitcoin ATMs in the Bay Area, 65 of which are in San Francisco. Not bad for a city with only 880,000 people.
2. Vancouver, Canada
In Canada, a thriving Bitcoin ecosystem has successfully lobbied for regulatory changes to welcome virtual money. After the reported death of its founder, Vancouver-based QuadrigaCX, the failed bitcoin exchange misappropriated C$180 million involving client cash. In Vancouver and the surrounding suburbs, more than 50 businesses accept bitcoin, and there are 221 places to acquire bitcoin. On October 29, 2013, Waves Coffee House opened the world’s initial bitcoin ATM in downtown Vancouver. More than 631,000 people are living in the city.
3. Ljubljana, Slovenia
Slovenia’s capital and largest city, Ljubljana, is the smallest city on our list, home to just 289,000 people. Bitstamp, a well-known bitcoin exchange, was first established in Slovenia before expanding to Luxembourg and London. Ljubljana features eleven bitcoin ATMs spread over the city and its environs, and about 200 businesses claim to accept bitcoin as payment.
Bitfury, a mining equipment manufacturer, has its European headquarters in Amsterdam, as does BitPay, a payment service provider. For example, bike repair shops, barbershops, and coffee shops are listed on Coinmap as places where you may transfer bitcoin within the Dutch capital. About six bitcoin ATMs are available to the city’s 840,000 citizens. As a result, merchants also accept cryptocurrency in the Dutch cities of Utrecht, Rotterdam, and The Hague.
5. Portsmouth, New Hampshire
This sleepy seaside town has a sizable cryptocurrency user base. Locals have dubbed the downtown area “bitcoin village” because of many crypto-friendly businesses, such as the Seacoast Repertory Theater & the Free State Bitcoin Shoppe. Portsmouth and the surrounding areas have 21 bitcoin ATM and tellers, a startling number for a community of barely 22,000 people.
6. Tel Aviv, Israel
In the city of 451,000 people, Israel’s financial center, which is also a hotbed for startups, there are 19 establishments taking bitcoin & seven bitcoin ATMs. Over 4,000 people attend the Israel Bitcoin Meeting Group in Tel Aviv, making it one of the most active online communities in the world.
7. El Zonte, El Salvador
After a significant bitcoin contribution to the local administration, this sleepy vacation town attempts to reinvent itself to be “Bitcoin Beach,” the planet’s first bitcoin-centered economy. There will be 1500 bitcoin ATMs built in El Salvador by 2020 as the country moves to make cryptocurrencies legal tender. International companies will not be taxed on their capital gains if they use Bitcoin to pay their taxes. As well as collaborating with businesses, the national government has developed a streamlined digital wallet for low-fee transactional activities.
8. Miami, USA
A remarkable 651 bitcoin Cash machines and tellers can be found in this major metropolis’s four dozen merchants who claim to accept the digital currency. The Miami Bitcoin Summit, one of the industry’s oldest and largest events, is held here each year. Miami, Florida Mayor Francis Suarez recently proposed investing local funds in bitcoin and perhaps developing a municipal cryptocurrency as part of the city’s effort to attract blockchain companies.
9. London, UK
8.9 million Folks call London home, but there are also 50 bitcoin ATMs and roughly the exact number of companies that take bitcoin as payment. Coinfloor, the city’s oldest bitcoin exchange, is among the startups established there.
Numerous bitcoin and cryptocurrency Meetups may be found throughout the city as well.
10. New York, USA
The 8.4 million residents of the financial and IT hub may spend bitcoin at around 30 retailers, along with the Bitcoin Store throughout lower Manhattan & CryptoART in Morningside Heights. New York is also home to significant crypto businesses and media companies like CoinDesk, Decrypt, & CoinTelegraph, and Consensus, one of the industry’s largest yearly events.
Bitcoin has made substantial inroads since 2009. Its impressive adoption rate globally leaves an impression that cryptocurrencies are here to stay.
What about in your city? How do its people respond to the Bitcoin and/or cryptocurrency craze?