A lot of people continue to state that Bitcoin, and any other cryptocurrencies for that matter are in fact borderless. They say that when you trade Bitcoin, and when you receive payment for that, anything is possible. So what would happen if you wanted to go out and spend some Bitcoin, face to face? BTC, ETH and other currencies are currently taking the world by storm and some are embracing the idea of it much more than others. San Francisco and even Seoul are very obvious hotspots but at the end of the day, other cities are cropping up as well. This includes Bangkok, Buenos Aires and Tel Aviv. Bitcoin cities are popping up faster now when compared to ever before and this is all because digital nomads are congregating to try and spend the currency that they have in one single place.
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So if you wanted to try and find some Bitcoin hotspots all across the world, you would have to use Coinmap. You can then find out the amount of BTC vendors that are in a city and you will also be able to see the currencies that they deal in as well. If you want to know the top Bitcoin cities in the world then you can find out whatever you need to know, right here.
First up, you have Prague. They have the most Bitcoin-accepting stores and vendors in the whole world. One nomad spent the whole summer there and they were able to live off BTC vendors the entire time. This just goes to show how many places there accept the coin. The best thing about this area is that they actually have a very high density of business even in the rural areas. Zatec alone is home to 50 BTC accepting businesses and this is shocking to say the least.
Next up on the list you have Buenos Aires. This is in Argentina and it is home to the second-largest amount of BTC businesses in the world. Some of the cities have 30 or more companies who accept Bitcoin and this is one of the many reasons why so many nomads continue to visit there with their wallets. Of course, if you have never visited this place before and if you do have an interest in cryptocurrency then you know that this is going to be the best option for you.
San Francisco is the third on the list and they have over 100 BTC accepting businesses. Felix Weis travelled to the US city and he tried to do an 18-month Bitcoin challenge. He said that it was actually really easy to only spend cryptocurrency there and he has come a long way since. He used to be a staff member over at Forex and he is now working as a journalist. It just goes to show that currency and crypto can have that effect on people.
Rounding off on the top five- you have Madrid, NYC and Spain. You also have Amsterdam and the Netherlands at number 6 and Cambodia is at 7. You have Canada in at 8th and then London at 9 with Paris at 10. So as you can probably see, regions such as Asia, Africa and even the Middle East are not on this list at all. That being said, it’s strange to see that a lot of nomads have spent some time here spending cryptocurrency alone.
One interesting takeaway from all of this is that Bitcoin hotspots are not really necessary urban all the time. Some countries have very high densities when it comes to crypto businesses and the UK does have a good amount of BTC vendors. When you look at Arnhem in the Netherlands, you will find that they have 80 BTC accepting businesses but Amsterdam only has 43. So governments all over the world are having a very varied reaction when it comes to Bitcoin and what it has to offer. On one side of things, you have business hubs such as Singapore and even Switzerland as well. They have completely embraced cryptocurrency but the local government isn’t as supportive. In countries such as China, cryptocurrency was fully shut down and they barely rank when you look at the list.
So now let’s look at the global inflation of BTC. This is one of the more interesting trends because it shows how the currency is being used across the globe. People who live in Zimbabwe, Venezuela and even Argentina are adopting Bitcoin and this is because this offers way more protection against inflation when compared to the fiat currency that they have. This has been discussed at length recently and Alex Gladstein has come out to say that 8% of the world’s transactions for Bitcoin were happening in the country known as Venezuela. She confirmed that the country is not home to 8% of the population in the world.
What’s even more interesting is that Americans are continually saying that they don’t see the point in cryptocurrency but when you have a journalist who is going to countries where the fiat currency is not stable, they can see how great the idea of a cryptocurrency is.