in General, Technology

Most Crypto-Friendly Cities

About 3.3 million years ago humans first technology involved shaping and sharpening stones for a variety of uses. Now, thanks to the (comparatively) quite recent technological advancement of computer networks leading us to the modern internet, today data scientists are using blockchain to revolutionalize our worlds and introduce crypto-currencies into the mainstream.

We can only imagine what the next technologies on the horizon will be, but for now, blockchain is the powerhouse behind trending digital currencies like Bitcoin, Ethereum, Dogecoin, Litecoin, and many, many others.

Billionaires are investing deeply, governments are devising ways to regulate, and more and more businesses are accepting digital currencies as payment. There’s no doubt this decentralized financial system has massive future potential.

So, for those who are interested in finding crypto-friendly communities, where do you go?

That’s one thing that’s difficult when it comes to digital currencies, it’s digital. It lives in virtual spaces. Luckily, for those who want to live around other like-minded crypto-enthusiasts and in a community of fast adaptors a new crypto-friendly city study has been released from moveBuddha to shine some light on those spaces and places.

Their data analyst team sorted through the data to uncover top cities in the US and around the world with concentrations of bitcoin ATMs. To get past the density of bitcoin ATMs in the US compared to the rest of the world, they opted to use comparisons of the total number of bATM’s with populations and GDP.

This unique look uncovered some unexpected cities in both the US and globally.

Unexpected US Small Towns Stands Out as Fast Adaptors

Retailers and business owners choosing to install bitcoin ATMs allow locals to both purchase Bitcoin and even withdraw it for cash. It could be said that the higher density of bitcoin ATMs is supportive of a community model that encourages digital transactions on a larger scale. If local residents have the ability to purchase Bitcoin, they then have the power to use a digital wallet to make transactions in other businesses that accept cryptocurrency for payment.

So, it was surprising to see two small towns in the US-led the way when taking a closer look at the density of bitcoin ATMs:

  • With less than 50,000 residents, Harrisburg, PA outranks Orlando, FL, Atlanta, GA, and even Miami, FL for the highest density of total bitcoin ATMs per 10,000 people.
  • Another unexpected small town taking the #1 spot for the highest number of bitcoin ATMs per $10 Billion GDP is Raleigh, NC.

These two communities have unexpected pockets of crypto-enthusiasts. For example, in Harrisburg, PA there is an active local meetup group of 300 members strong that meets monthly called Blockchain and Cryptocurrency. Over in Raleigh, NC, bitcoin mining has become a family business kind of operation. Oh, and they have a really active Triangle Bitcoin Meetup with more than 1K members!

International Locations for Bitcoin ATM Adoption

While the US leads the way overall with the (by far) largest number of total bitcoin ATMs, other top countries include expected spots such as — Austria, Hong Kong (naturally), and Switzerland (banking capital of Europe).

Then there is the unexpected. Like smaller countries such as Slovakia, Slovenia, and Czechia all making the top 10 list of countries with the most total Bitcoin ATMs.

To hone in on international cities, the team at moveBuddha looked again at GDP. Looking at the highest concentration of bitcoin ATMs per $10 Billion GDP, the city of Tbilisi, Georgia won the #1 spot with only 23 machines. This is largely due to their status as a major hub for crypto mining thanks to inexpensive hydropower.

Crypto Friendly Cities