Live Blog. Stock Reports Plus. Candlestick Screener. Stock Screener. Market Classroom. Stock Watch. Market Calendar. Stock Price Quotes. Markets Data. Market Moguls. Expert Views. Technicals Technical Chart. Commodities Views News. Forex Forex News. Currency Converter. Presented By. Rate Story. Font Size Abc Small. Abc Medium. Abc Large. ET Spotlight Special. Cryptocurrency as a long-term investment opportunity still sounds legit in The towering market caps, entry of new and credible players in the crypto-space, and most importantly, the real-world possibilities hinged on the elementary blockchain technology have come up as major growth drivers now that the year draws to an eventful end.
But are these the only factors behind the global acceptance of cryptocurrency? Well, not even by a long shot. With investors flooding in to empower leading crypto exchanges like CoinSwitch Kuber , there have to be other explanations for this unprecedented rise in crypto approval. The subjective nature of virtual money Presented By. In this article, we identify which cities are at the forefront of embracing virtual currency.
To compile this list, we looked at three metrics : the number of merchants accepting bitcoin in each city, the number of bitcoin ATMs available, and population size relative to bitcoin activity. For merchant data, we looked at Coinmap, a collaborative tool for listing and locating businesses that accept bitcoin, and Coin ATM Radar, which shows the location of bitcoin ATMs.
We also considered the presence of major crypto businesses and industry leaders. Here are ten leading cities for bitcoin adoption, as of October 10, Not surprisingly, the technology capital of the United States figures prominently on our list. San Francisco is home to cryptocurrency trading platforms Coinbase and Kraken. More than a hundred merchants accept bitcoin, from restaurants and bars to hostels and stores. Not bad, given its relatively small population of , Bitcoin has a strong community in Canada, which has taken regulatory steps to embrace virtual currency.
There are more than fifty merchants who accept bitcoin in Vancouver or the surrounding suburbs, and locations to buy bitcoin. The city is home to more than , residents. Amsterdam is home to mining hardware maker Bitfury and the European headquarters of payment service provider BitPay. Coinmap identifies more than forty places to spend bitcoin in the Dutch capital, including bike repair shops, barbers, and coffee shops. The city's , residents have about half a dozen bitcoin ATMs available to them.
Merchants in Utrecht, Rotterdam, and The Hague also accept cryptocurrency. Ljubljana is the capital of Slovenia and its largest city, yet it is the smallest on our list with a population of about , The prominent bitcoin exchange Bitstamp was founded by Slovenians before setting up operations in Luxembourg and London. Ljubljana has eleven bitcoin ATMs in the city and surrounding areas, and roughly merchants who say they accept bitcoin. Israel's financial center and one of the world's leading cities for startups has nineteen merchants accepting bitcoin and seven bitcoin ATMs in a population of , This small coastal city is home to a surprisingly large community of cryptocurrency users.
Dubbed "bitcoin village" by local residents, the downtown area is home to about a dozen crypto-friendly businesses, including the Seacoast Repertory Theatre and the Free State Bitcoin Shoppe. There are also 21 bitcoin ATMs and tellers in Portsmouth and nearby towns—a surprisingly high figure for a town of only 22, This major metropolis has about four dozen merchants who say they accept bitcoin and a surprising bitcoin ATMs and tellers.
It is also home to the Miami Bitcoin Conference, one of the oldest and largest conventions of the cryptocurrency industry. The city's government is seeking to attract blockchain businesses to their city, and Mayor Francis Suarez has proposed investing city funds in bitcoin and even launching a municipal cryptocurrency.
This tiny tourist town is now seeking to rebrand itself as "Bitcoin Beach," the world's first bitcoin-centered economy, following a substantial crypto donation to the municipal government. The town received its first bitcoin ATM in , one of being installed around the country as El Salvador moved to adopt the cryptocurrency as legal tender.
Bitcoin can now be used to pay taxes, and foreign investors will not be subject to capital gains taxes. The national government has also worked with entrepreneurs to introduce a simplified bitcoin wallet for low-fee transactions. The financial and tech hub of 8.
New York is also a major hub for crypto startups and media companies, such as CoinDesk, Decrypt, and CoinTelegraph, as well as home to Consensus, one of the largest annual events in the crypto industry. The capital of the United Kingdom is home to 8. Startups based in the city include Coinfloor, which claims to be the oldest bitcoin exchange in the U. There are also dozens of bitcoin and cryptocurrency Meetup groups in London. Other regions becoming more accepting of bitcoin and cryptocurrency include Cyprus and Malta, as well as countries experiencing economic uncertainty and currency volatility such as Venezuela and Zimbabwe.
Since the first block was mined in , bitcoin has made substantial inroads. The impressive rate of adoption suggests that virtual currencies are here to stay. While it is not surprising that international financial centers have embraced bitcoin, it's interesting that smaller towns have done so, too.
Coin ATM Radar. Census Bureau. Library of Congress. City of Vancouver. Municipality of Tel Aviv-Yafo. Washington Post. New York Times. Bitcoin Beach. Company Profiles.
Interesting statistics ; Bitcoin (BTC) price. 43, USD ; Price of Ethereum (ETH). 3, USD ; Price of Litecoin (LTC). USD. As of , we estimated global crypto ownership rates at an average of %, with over million crypto users worldwide. And over 18, businesses are. The Global Crypto Adoption Index: Worldwide Adoption Jumps Over % With P2P Platforms Driving Cryptocurrency Usage in Emerging Markets.