Introduction
Crypto operates without a central authority. In theory, the idea is that cities or countries shouldn’t matter in the digital world of crypto. However, as crypto becomes more widespread globally, some places are leading the way, while others are slow to adopt and even banning cryptocurrencies.
Currently, over 15,000 businesses worldwide accept crypto as a form of payment. Interestingly, only about 2,300 of them are in the United States. People who are interested in crypto want to know how different cities and countries are getting involved in decentralized finance.
Keep in mind, that at Crypto Archery, we’re here to help you make smart financial decisions. In the real world, it’s essential to think about what the future of cryptocurrency looks like where you live and in different parts of the world.
San Francisco, US
San Francisco is called the tech capital of the world, and it’s like the heart of the blockchain universe. It’s where big crypto companies like Coinbase and Kraken have their headquarters. In the city, many businesses in various industries accept payments in cryptocurrency.
Even though San Francisco has fewer than a million people living there, you’ll find over 450 Bitcoin ATMs in and around the city. That’s a lot! Also, some well-known companies like Robinhood have their base in San Francisco.
Prague, Czech Republic
In 2018, Prague was named the most crypto-friendly city globally. It’s considered as cool as San Francisco in the crypto world. Prague has the highest number of places where you can use cryptocurrency. There’s even a coffee shop called Paralelnà Polis that only accepts Bitcoin.
Back in 2018, 154 different spots in Prague, like bars, hotels, restaurants, cinemas, and malls, were okay with you paying with crypto. They also have many Bitcoin ATMs around the city. What’s interesting is that you could even use crypto to rent an apartment or buy property in Prague. Now, in 2022, things have only gotten more advanced and crypto-friendly.
Vancouver, Canada
Canada is one of the few countries outside of Europe that likes and welcomes cryptocurrency instead of saying no to it. The whole country has a lively crypto scene, but the busiest place for it is Vancouver.
A big crypto exchange called BitMex has picked Vancouver as its main spot in North America. In the city, there are over 50 places where you can buy things using virtual money and more than 221 spots where you can get cryptocurrencies.
Here’s a cool fact: Back in 2013, the first-ever Bitcoin ATM in the world started working at the Waves Coffee House in Vancouver.
Amsterdam, The Netherlands
Amsterdam, a famous place for tourists, is also really into cryptocurrency. Important crypto companies, like BitPay and BitFury, are set up there.
In the city, about 70 places, like barbers, bike repair shops, and coffee shops, accept payments in Bitcoin. There are six Bitcoin ATMs around the city, making it easy for people to get or use cryptocurrencies.
There’s a special place called the Bitcoin Embassy in Amsterdam. It’s where people from the Netherlands and around the world who are into crypto get together to support decentralized finance.
A cool thing about Amsterdam is that in 2015, they made a famous street called Bitcoin Boulevard. Almost every shop on this street accepts crypto payments, making it a unique and crypto-friendly place.
Ljubljana, Slovenia
Ljubljana, the capital of Slovenia, won the title of the most crypto-friendly city in Europe for 2022. Even though it’s the smallest city on this list when it comes to people living there, it’s got more than 300 places where you can use cryptocurrencies!
The city has 11 ATMs where you can get Bitcoin, and it’s home to BTC City, one of the biggest places in Europe for shopping, fun, business, and new ideas. In this huge shopping center, over 500 stores are cool with you paying in cryptocurrency.
Berlin, Germany
Berlin, the capital of Germany, is an important place for making new digital currencies. It’s where EOS, a system for big decentralized apps, and the cryptocurrency IOTA come from. Berlin has been a big part of the Ethereum world for a long time. About 15 companies that work with blockchain, like Centrifuge and Gnosis, have set up shop in Berlin.
Berlin started being friendly to crypto back in 2013 when shops in the Kreuzberg district began taking Bitcoin. At one point, Berlin had more places accepting crypto than anywhere else in the world.
And it’s not just Berlin—Germany as a whole has made some rules that say it’s okay for banks to own and keep cryptocurrencies. They’ve even made certain digital securities legal. This shows that Germany is open to the idea of new and electronic forms of money.
Vilnius, Lithuania
Vilnius, a city in Lithuania, has become popular for learning about, connecting with others, helping new businesses grow, and hosting events related to blockchain, thanks to the Blockchain Center in the city. More and more companies that work with blockchain and crypto are choosing Vilnius as their main place because the country has rules that are friendly to crypto.
Lithuania likes the idea of businesses working in a fair market, and they have clear rules for crypto. They also have good technology and lots of people who are good at starting and running businesses, making it a great choice for blockchain startups. In Vilnius, you can find many places, like restaurants, beauty salons, and even medical services, where they’re okay with you paying with cryptocurrency.
Miami, US
Miami is becoming the new center for decentralized finance in the United States, taking the spotlight from New York. Big exchanges like Blockchain.com are moving their main offices from New York City to Miami. In this big city, more than 50 places are cool with you using cryptocurrency, and there are a huge 650+ Bitcoin ATMs!
The mayor of Miami, Francis Suarez, wants the city to be a big hub for businesses that use blockchain technology. He even suggested that employees should get paid using virtual money. Miami hosts a really big event called the Miami Bitcoin Conference, which is one of the largest gatherings in the crypto world. Miami is so important in the crypto scene that FTX, a company, spent a lot of money to name the Miami Heat stadium.
Zug, Switzerland
Even though it’s not a big city, a small town in Switzerland called Zug is like a special place for crypto. It’s a hub for many blockchain and crypto companies, including big names like the Ethereum Foundation and others like Cardano, Dfinity, Bancor, and Tezos.
What makes Zug so attractive is that it has really low taxes, so companies from all over the world want to be there. The cool thing is that in Zug, companies can even use crypto to pay their taxes.
Singapore
Singapore is a big financial center in Asia, and it has become even more important in the crypto world since China said no to crypto, and that rule also applies to Hong Kong. Some of the largest crypto exchanges, like Coinbase and Binance, want permission to work in Singapore.
In Singapore, there are a lot of things happening in the crypto world. More than 400 startups that work with blockchain are there. They also have companies like Nansen, Crypto.com, and Kyber Network’s headquarters. The government in Singapore is really excited about decentralized finance, which is why the crypto industry is growing there. The government even started a research project called the Singapore Blockchain Innovation Programme, and they’re putting about USD 8.9 million into it. This project is all about figuring out how to use blockchain in things like trade, logistics, and supply chains.
Conclusion
In conclusion, these crypto hubs are in different places around the world, and really like the digital changes happening. The fact that they’re doing well shows how important it is to have rules that support crypto, new and creative businesses, and a smart way of thinking to shape where digital money is going globally. As the crypto world keeps changing, paying attention to these hubs helps us understand more about the growing and changing world of decentralized finance.