At a point, everyone who owns crypto wants to buy something with Bitcoin or other cryptocurrency. Over and around, nearly 15,174 businesses accept Bitcoin almost 37% of which are established in the United States. Bitcoin is a part of controversy in various countries. Still, it is unavoidable that merchants and financial venues are willing to accept this digital currency for their growth in payment sectors. Cities that legalize crypto and are functioning their deal in it support Bitcoin ATMs, too.
Several cities are now adopting Bitcoins and becoming hotspots for individuals and businesses worldwide. In this blog, let’s get a glance over the top leading cities for Bitcoin adoption.
When looking for a Bitcoin hotspot country or city, 3 metrics are considered- the number of merchants that accept Bitcoin in that city, the number of Bitcoin ATMs available, and the size of the population engaged in Bitcoin-related activities. By these combined data, you can identify the popularity of digital currencies in those cities.
Let’s get the catch on these cities and find out what they are bringing to the Bitcoin community.
Merchants: not defined
This technological capital of the United States is prominent in being the Bitcoin hotspot. San Francisco is also the home of leading crypto trading platforms like Kraken and Coinbase. There are many such merchants who accept Bitcoin, from restaurants to hostels to stores. On a rough count, there were around 403 ATMs around the area, with nearly 57 in the city itself. These are great statistics in front of the small population of approx. 808,000.
This most vibrant tech hub of the world hosts notable events for the community, like Fintech and Crypto Summits. With such adaptability, it ranks amongst the Bitcoin cities globally.
Bitcoin has a tremendous built-in community in Canada, which has taken specific regulatory steps to embrace the cryptocurrency. Vancouver was also the home for QuadrigaCX, the crypto exchange that lost C$ 180 million in client funds. This loss was faced after the death of their founder. There are 24 merchants that accept crypto as payments, and nearly 212 ATMs for Bitcoin activities are present there.
With an approximate residential population of 631,000, Vancouver was the 1st one to begin ATM operations at Waves coffee shop at its downtown on October 29, 2013. Alongside Toronto, Vancouver is one of Canada’s leading cities with crypto-accepting businesses.
Amsterdam is native to the mining hardware maker Bitfury and also the headquarters of Bitpay, the payment service provider. More than 35 merchants in this Dutch capital accept Bitcoin as a payment, including bike repair shops, barbers, and coffee houses. There are a limited number of 6 ATMs for a large number of 872,750 residents. Along with Amsterdam, merchants in Utrecht, The Hague, and Rotterdam have also adopted Bitcoin as a currency for accepting payments.
This green city also features a unique location called the Bitcoin Embassy, which is a community hotspot for Bitcoin enthusiasts and newbies. This acts as a platform for them to share business ideas and develop crypto startups. Amsterdam is considered a Bitcoin haven for tourists looking to spend their crypto and also for event organizers and crypto businesses alike.
Amsterdam has also hosted historically high-profile Bitcoin events, including the world’s 1st Bitcoin Boulevard in March 2014. This leads it to become a top destination for financial services startups.
ATMs: yet to be installed
This financial and tech hub has almost three dozen merchants in their metro area that accept Bitcoin as a payment, with a population of 8,470,000, including the Bitcoin store in lower Manhattan and CryptoART in Morningside Heights. Additionally, New York is a central hub for startups and media companies like CoinDesk, CoinTelegraph, and Decrypt. It is also the hosting place of Consensus, one of the most significant events in the crypto industry.
Roughly 20% of the NYC population owns crypto in some capacity, yet it plays a massive role in the US crypto community. New York hosts some of the renowned events in the crypto world, including Digital Asset Week (DAS), New York Blockchain Week, and NFT.NYC.
There were around four dozen merchants who were accepting Bitcoins, but currently, there are somewhere about 7 merchants. With respect to that, Miami has 756 ATMs for a residential population of 440,000. It hosts the Miami Bitcoin Conference, which is one of the oldest and largest conventions in the crypto industry.
The Miami city government is trying to attract blockchain businesses there, and the mayor has proposed to invest the city funds in Bitcoins and even planned to launch a municipal cryptocurrency. After the pandemic, people from Silicon Valley and NYC have relocated to Florida and tend to move toward Miami as Bitcoin gained legality and value there.
These efforts will be worth it if the move of people toward this is permanent and they proceed to invest in Bitcoin with their ability to understand tech.
Ljubljana, Slovenia’s biggest city and capital, is the home of Bitstamp, a prominent Bitcoin exchange. With a population of 293,000, this city only functions 2 Bitcoin ATMs. With this, more than 140 merchants accept Bitcoin for their businesses. This city is carving out the name of being the crypto capital of Europe. The heart of the city has many accommodations, pubs, and restaurants that accept Bitcoin easily.
The dedication of this city can be seen towards Bitcoin and blockchain technology as it opens the world’s first Bitcoin-friendly mall called the Bitcoin City. This mall has 1.56 million square feet of commercial space dedicated to merchants who accept Bitcoin as a payment.
It also has a solid commitment to tech innovations like Artificial Intelligence and virtual and Augmented reality.
This financial center of Israel is one of the leading cities in the world for startups and has around 16 merchant hubs that accept Bitcoin payments over purchases. Tel Aviv presents 5 ATMs for its population of 436,000. The Israel Bitcoin Meetup Group in Tel Aviv is the most active globally, with more than 4,000 members.
Some crypto enthusiasts and innovators have launched a lifeline support initiative called “Crypto Aid Israel.” This campaign was started recently to gather funds to support Israelis impacted by the Hamas incursion. In this ongoing conflict, Crypto Aid Israel has introduced a multi-sig wallet under the supervision of the Web3 community.
This is the capital of El Salvador, the first country to adopt crypto as legal tender. With a population range of 238,000, Sal Salvador hosts 61 ATMs. As of now, only 3 businesses accept payments in cryptocurrency. The residents can pay taxes in Bitcoin, while foreign investors are not liable to capital gain taxes. Their national government has also worked with the entrepreneurs to introduce simple Bitcoin wallets to conduct low-fee transactions.
San Salvador is planning to establish its own “Bitcoin City.” It will have amenities as per its name, like a robust residential region, museums, entertainment infrastructure, bars, train stations, and even airports. It is considered a paradise for digital nomads and to visitors who can buy food and gas and do everyday shopping with Bitcoin.
This small coastal city in New Hampshire supports a large community of crypto users. The downtown area of this city has 7 crypto-accepting merchants and is called a Bitcoin Village by the local residents. This city offers 49 ATMs, which is a prominent figure for its hosted population of 208,100.
Portsmouth allows the residents to pay bills using Bitcoin as a payment method. They also calculate the effects of Bitcoin and other cryptocurrencies in their regular economy. Many well-known brands are already accepting this digital currency over their selected services.
An advanced city, which is the capital of the United Kingdom, has a population of 8,908,000. Where more than 50 merchants accept Bitcoin for payments. Multiple startups are based in this city, including Coinfloor, one of the oldest Bitcoin exchanges in the UK. Strangely, this large city does not own any Bitcoin ATMs.
Despite this, there are many Bitcoin and crypto meetup groups in London. In the case of global adoption of crypto, other cities have overshadowed it based on the average data of the matrices that are considered to find out the Bitcoin hotspots.
Some regions are rising more and accepting of Bitcoins and other cryptocurrencies; the rate of adoptions is reaching heights in Vietnam, the Philippines, Ukraine, and India. Crypto is a better alternative to be adopted in cities and countries experiencing economic uncertainty.
Regions that suffer from currency volatility due to demographic conditions are more likely to lean toward this global currency and become crypto-friendly over time.
Being a resident in the Bitcoin hotspot city brings a lot of perks,
Since the 1st block of Bitcoin was mined in 2009, Bitcoin has been constantly maintaining its graph on the substantial inroads. This virtual currency has shown an impressive adoption rate among all these countries. From residents to travelers, Bitcoin is efficient for day-to-day transactions, getting required services, accommodation, and travel. From cities that are international financial centers to small towns, everyone is slowly embracing the usability of Bitcoin and accepting it as a primary mode of payment.
A country, city, or town that uses Bitcoin daily and where merchants accept it as a legal part of currency for transactions became a Bitcoin hotspot.
Regarding the city that uses Bitcoin the most, San Francisco ranks top in the chart.
The United States, by far, is the world's largest crypto miner, with 3 to 4 Gigawatts of mining capacity.
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