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Cryptocurrency is transforming the finance industry to the point where everyday people are now keeping up with the emerging technology. Investing in crypto is so common that some investors put more money into cryptocurrencies than stocks. Along with conventional investment instruments, crypto is now receiving legitimate consideration for serious investment portfolios.
That said, some parts of the world are more open to cryptocurrency transactions than others. This article will point out ten of the most crypto-friendly cities worldwide.
London is a global hub for business, technology, arts, culture, and more. Therefore, it makes sense the city has embraced cryptocurrency. There are 50 bitcoin ATMs in London and about the same number of vendors (big and small) who accept Bitcoin as payment. The city is home to CoinCorner, which claims to be the oldest bitcoin exchange in the United Kingdom. The city is also known for numerous bitcoin and crypto meetup groups, demonstrating Londoners’ interest and openness to cryptocurrencies.
Alongside its culture, food, and nightlife, Amsterdam is quickly garnering attention for its positive cryptocurrency views. The city is home to The Bitcoin Embassy, the organization where the global crypto community initiates various efforts to promote and popularize Bitcoin. Amsterdam is also the home of Bitcoin Boulevard, a street in which most shops, vendors, and merchants accept Bitcoin as payment.
The city has more than 40 vendors that accept Bitcoin and numerous crypto ATMs. This positive attitude towards crypto has made the booming tech city a desirable location for crypto startups and ICOs.
Since 2021, Madrid has passed legislation to regulate cryptocurrency usage in businesses. While these coins aren’t recognized as “legal tender” yet, the country is making strides. One effort is that Spanish citizens can buy gift cards from various brands using crypto coins. For example, these gift cards can pay for Netflix and Amazon (ES) subscriptions.
In the capital of the Czech Republic, individuals can use cryptocurrencies to pay rent, buy movie tickets, shop, and more. The city is also home to Paralelní Polis, one of the world’s first Bitcoin-only cafes.
The state capital of Florida has around four dozen vendors willing to accept Bitcoin and about 652 Bitcoin ATMs and tellers. The city also hosts the Miami Bitcoin Conference, which is among the world’s oldest conventions in the crypto industry. The city’s government has been making numerous efforts to attract crypto-centric businesses to Miami. Mayor Francis Suarez even proposed investing city funds in Bitcoin and launching a municipal cryptocurrency.
After China banned cryptocurrency, many businesses relocated to Singapore due to its crypto-friendly regulations and industry growth opportunities. Singapore regulations surrounding crypto are transparent, ensuring higher certainty and more informed decision-making from companies. About 400 blockchain startups are currently registered in the country.
In particular, the Monetary Authority of Singapore has released a “Guide to Digital Token Offering,” which explains how the country’s security laws influence and cover token offerings. Singapore’s Technology Infrastructure Office stated that their regulations do not affect utility tokens, only payment tokens.
It is common to find restaurants, cafes, and businesses in Singapore accepting crypto payments. There is no capital gains tax in the country, so companies and individuals holding crypto as long-term investments are not taxed.
The capital of Canada is showing signs of becoming one of the world’s most crypto-friendly destinations. In this city, residents can pay for various goods and services, such as dinner, drinks, rent, clothes, dentist appointments, and even mortgage payments in crypto (to accepting merchants). Canada is home to NOWPayments, which allows Toronto-based companies to set up crypto-payment gateways. The platform is compatible with eCommerce ventures based on platforms like WooCommerce and Shopify, which reveal positive attitudes towards these currencies. Even many charities accept crypto payments through NOWPayments.
Bear in mind that crypto is still not designated as legal tender in Toronto, but regulatory steps to change this are underway. All this makes the city highly desirable for individuals looking to live a crypto-friendly life.
The home to Wall Street is one of the most pro-crypto cities globally. There are multiple places—restaurants, shops, cafes, nightclubs— that accept crypto payments. The city boasts over three dozen vendors accepting crypto payments, some of which include the Bitcoin Store in lower Manhattan and CryptoART in Morningside Heights. Numerous crypto startups and media firms such as CoinDesk, CoinTelegraph, and Decrypt are also based out of the city. New York City also hosts Consensus, one of the largest annual crypto industry events.
As one of the most vibrant technology hubs in the world, San Francisco is a major cryptocurrency center. There are more than 100 vendors in San Francisco that accept crypto and over 400 ATMs in the Bay Area. Crypto trading platforms like Coinbase and Kraken blossomed out of San Francisco.
Despite being the smallest city on the list, the capital of Slovenia leads the world in crypto adoption and innovation. Even with a population of less than 300 thousand, the city has 11 Bitcoin ATMs and more than 200 vendors accepting Bitcoin. It has 72 shops and 33 sporting venues also accepting crypto payments. In particular, Tus, one of Slovenia’s largest grocery store chains, also accepts crypto payments.
Ljubljana is also known for “Bitcoin City,” a 1.56 million square foot mall in which all shops accept Bitcoin and leverage blockchain technology for business operations. The mall uses the Elly payment system, a digital payment platform that allows merchants to accept alternate payment options such as cryptocurrencies.
Ljubljana is also the headquarters of Bitstamp, one of the most popular crypto exchanges. In fact, the number of blockchain enterprises in Slovenia is so high that the government is now passing legislation to regulate crypto holdings and transactions.
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And there you go, the ten most crypto-friendly cities. These cities stand out by their efforts to embrace and support cryptocurrency. By being forward-thinking and accepting crypto, these cities will become known as hubs for the emerging technology while bringing in new businesses, cash flows, talent, and innovators.
Interested in discovering how crypto can help your business? Contact us at info@quantilus.com for a consultation to learn how we can help.
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