They state crypto is borderless. When you exchange Bitcoin or receive some as payment for a project you finished, it is.
However, what should you wish to invest Bitcoin in person? As BTC and other monies like Ethereum or even Litecoin, start to remove several parts of the world are embracing crypto more than others.
Whilst technology hubs such as San Francisco or even Seoul are obvious hotspots, there’s unexpected crypto-cities popping like Prague, Tel Aviv, Buenos Aires or even Bangkok.
Methodology
So as to find Bitcoin hotspots across the world, I used Coinmap around July 24, 2018. I recorded the number of BTC-vendors listed in a town and did not consist of corresponding suburbs. In theory, this places cities with urban sprawl in a drawback but I did not want a human error to skew the information since I am more familiar with North American cities like New York or Los Angeles and would be more prone to include their campuses instead of Tokyo's. Additionally, it bears mentioning that CoinMap relies on crowdsourcing to record all BTC-accepting vendors.
Without further ado, these are top ten Bitcoin hotspots from around the world, as well as a few takeaways on where, and the way Bitcoin usage is spreading.
The Largest Bitcoin Hot-spots in the World
Prague that the Czech Republic boasts the most Bitcoin-accepting vendors on Earth. 1 crypto nomad spent the summer there in 2017 just due to all of the BTC-accepting sellers. The country has a high density of companies in rural areas as well, with Žatec house to over 50 BTC-accepting businesses.
Buenos Aires in Argentina boasted the second most Bitcoin businesses in the world. South America, in general, is a Bitcoin-heavy continent, with cities like Bogotá, Colombia; Caracas, Venezuela; and São Paulo, Brazil comprising over 30 BTC-accepting businesses.
Third among the list of greatest bitcoin cities is San Francisco with over 100 BTC-accepting companies. After Felix Weis visited with the American city during the 18-month Bitcoin-only challenge that he stated it had been almost too easy to shell out just crypto there. It certainly appears to have come a long way since 2013, when preceding Forbes staffer and journalist at Gizmodo Media Kashmir Hill spent weekly spending only BTC.
Rounding out the top ten had been Madrid, Spain and New York, the United States. Amsterdam, the Netherlands claimed the sixth place, while Bogotá, Colombia trailed at number seven. Vancouver, Canada came in eighth, followed by London, the Uk and then Paris, France.
Areas like the Middle East, Africa, and Asia were noticeably absent in the top ten, although many crypto nomads report spending some time in South East Asian nations like Thailand and Indonesia. Tel Aviv, Israel also boasts burgeoning BTC-use, as well as Capetown, South Africa; Melbourne, Australia; and Sydney, Australia.
BTC Division Of Urban-Rural
One interesting takeaway is that Bitcoin hotspots are not necessarily urban. Some nations with entire high densities of most crypto businesses like Brazil, Thailand or the United Kingdom boast similar frequencies of BTC-accepting vendors in little towns or regions as in capital cities. For instance, Arnhem, The Netherlands boasts over 80 BTC-accepting companies, while Amsterdam just has 43.
Growth of Crypto Business Hubs
Governments around the globe are having diverse responses to Bitcoin. On one hand, international business hubs like Switzerland and Singapore have started their arms into crypto, but where the local government is unsupportive, it follows that there are fewer BTC-vendors.
Some nations, such as China, originally embraced cryptocurrency only to closed down exchanges in the future, meaning cities like Beijing barely rank in regard to BTC-accepting businesses. Gulf countries like the United Arab Emirates or Saudi Arabia are hesitant about adopting crypto and are noticeably absent in the world map.
Bitcoin Offers a Ease From Inflation
One of the most interesting trends in international Bitcoin usage is how the currency is used globally to shore up inflation. Citizens in countries such as Argentina, Venezuela, and Zimbabwe are embracing Bitcoin as the money offers more protection against inflation than fiat.