Are you an avid traveler, but also a crypto enthusiast keen on using digital coins instead of cash? Well, look no further, as this list provides the most crypto-friendly cities and how coins have seeped into the economies of these places.
9. Amsterdam, Netherlands
There are plenty of reasons to visit Amsterdam: architecture, museums, food, and bustling nightlife. Another thing that makes Amsterdam a prime location is its status as one of the world’s top crypto friendly cities.
Amsterdam has made a progress when it comes to cryptocurrency adoption. The city is also home to the Bitcoin Embassy. The Bitcoin Embassy in Amsterdam is where the crypto community actively puts in their efforts to promote Bitcoin. Also, as of 2015, Amsterdam opened its Bitcoin Boulevard, a street where most merchants accept Bitcoin as payment for their products and services.
The city is home to more than 40 merchants which accept Bitcoin, as well as many crypto ATMs. Also, many crypto startups and ICOs have set up their base of operation in Amsterdam, which is seen as one of the best cities for tech startups in Europe.
8. Singapore, Malaysia
After China’s ban on ICOs, many businesses from the crypto space relocated their operations to Singapore. imToken, a prominent Ethereum wallet, also moved its office to Singapore. Singapore regulators have a transparent approach when it comes to cryptocurrencies. This creates an environment which has less uncertainty for crypto companies than in other crypto climates.
The Monetary Authority of Singapore (MAS) has even put out a “Guide to Digital Token Offering,” which covers how security laws apply to token offerings. Furthermore, Singapore’s regulations do not affect utility tokens, as stated by Damien Pang, the head of Singapore’s Technology Infrastructure Office under the FinTech & Innovation Group (FTIG). At the Consensus Singapore, Pang said that only payment tokens would be affected by the regulations.
7. Ljubljana, Slovenia
Slovenia’s capital, Ljubljana, is one of the smallest cities in Europe that never ceases to impress when it comes to tech innovation and crypto adoption.
Ljubljana is also home to the world’s first Bitcoin-friendly mall, “Bitcoin City,” which was opened earlier this year. This impressive mall is over 1.56 million square feet, to be more precise. All merchants that have shops in the mall accept Bitcoin and make use of blockchain technology. Bitcoin City is more than just a mall, also serving as a large business and recreational center.
Ljubljana is also where Bitstamp, one of the most popular crypto exchanges, has established its headquarter.
6. Buenos Aires, Argentina
Argentina’s capital and also its the largest city has become one of the most crypto friendly cities out of necessity rather than love for this tech. As the country entered a deep recession a few years ago, the inflation in Argentina reached nearly 25%.
This decline in the Argentinian peso and capital control enforced by the government prompted many Argentinians to turn to cryptocurrency, Bitcoin in particular. Also, many merchants started supporting Bitcoin as a payment method. Currently, there are more than 120 businesses that function by using this cryptocurrency.
Buenos Aires also hosted the first Bitcoin conference to ever take place in Latin America. The conference , “Bitcoin Day,” was held in April last year. Moreover, startups like SatoshiTango, Ripio (formerly BitPagos), and Buda call this city home.
Earlier this year, Athena Bitcoin, an American Bitcoin ATM company, revealed that it intends on setting up the first Bitcoin ATMs in Buenos Aires.
4. Toronto, Canada
The light regulations for cryptos and ICOs, as well as the supportive attitude of its government towards tech startups make Canada one of the most welcoming countries for blockchain and cryptocurrencies.
Toronto has become one of the world’s most crypto friendly cities and hosts a number of successful crypto enterprises. One example is Decentral, the company which created Jaxx, a well-established cryptocurrency wallet.
Also, according to data from Coin ATM Radar, over 200 crypto ATMs are spread across Toronto. This is one of the biggest numbers of ATMs that can be found in any city worldwide.
3. Zug, Switzerland
Zug is a small city that has less than 30,000 people living in it. Though it isn’t as well known as the other cities in the list, it constantly appears in blockchain and cryptocurrency news. It is regarded to be one of the most technologically advanced cities on a global scale.
Many important crypto companies are based here, Zug earning the nickname of “Crypto Valley”. For instance, the notorious Tezos ICO was held in this city last year.
A few years ago, Zug became the first city that accepted Bitcoin for paying taxes. Additionally, the municipality has recently started accepting cryptocurrencies as payment for government services on a trial basis.
2. New York City, New York
New York is home to more than 100 merchants which support Bitcoin and other cryptocurrency payments. Also, there are more than 150 crypto ATMs spread across the city.
Some crypto startups started out in New York. For instance, Coinsetter, one of the oldest Bitcoin exchanges, was established in New York back in 2012. In 2016, Coinsetter was bought by Kraken in one of the biggest M&A deals to ever occur in the cryptosphere.
Furthermore, New York even has its own digital asset, the New York Coin. However, it has a market cap of just $3.65 million.
1. San Francisco, California
San Francisco is the first on our list for a very good reason. Being known as one of the world’s leading tech hubs, it is no wonder that an emergent technology such as blockchain is present here.
The city has more than 870,000 residents, approximately 60 ATMs that process crypto conversions, and more than 100 retailers who support cryptocurrency payments.
Coinbase, one of the most famous cryptocurrency exchange platforms and the creator of one of the most secure cryptocurrency wallets, is headquartered in San Francisco along with many other cryptocurrency and blockchain companies.
This has been our list of the most crypto-friendly cities in the world. Be sure to visit one of them if you intend on using your crypto assets!
Cole is a freelance writer focusing on cryptocurrency and emerging technologies. Previous articles on Masternodes have been featured on leading crypto websites and quoted in Whitepapers.