As bitcoin adoption grows, some cities are embracing the technology as hubs for bitcoin-friendly businesses, events and lifestyles.
This is an editorial by Jenna Hall, content marketing specialist at residential real estate brokerage Redfin.
Bitcoin has taken the world by storm since its inception in 2009. In fact, approx 46 million Americans own bitcoin. And as its popularity continues to grow, so does the willingness of those who adopt it to use it in their daily lives.
As a result, several cities in the United States have become hotspots for Bitcoin enthusiasts, entrepreneurs, and investors. Take a look at five cities leading the way in Bitcoin adoption and innovation, and what makes them such attractive destinations for Bitcoiners.
Washington State has a long history with Bitcoin and blockchain technology. In 2018, Wenatchee, a small town three hours east of Seattle, has become the epicenter of bitcoin mining in USA. Since then, Washington cities like Seattle have seen a dramatic increase in both people and businesses interested in using digital currencies.
Seattle residents can buy and sell their digital assets to anyone from 202 bitcoin ATMs in the city. Speaking of buying and selling, the state of Washington does not impose taxes buying bitcoin — a unique advantage for bitcoin enthusiasts living in the state.
Los Angeles, California
As a major hub for technology and innovation, Los Angeles has a growing number of businesses and individuals experimenting with Bitcoin and other digital currencies. Some people have even been able to successfully pay the rents for theirs apartments in los angeles using bitcoin.
The city has really embraced the use of blockchain technology, with many boutiques, restaurants, toy stores, florists and other businesses accepting Bitcoin as payment. In 2021, it was the iconic Staples Center renamed Crypto.com arenafurther strengthening the connection that Bitcoin and other digital currencies have with the city of Los Angeles.
Miami Mayor Francis Suarez has made it clear that he is a supporter of digital currencies and wants to make Miami “crypto capital.” In fact, in 2021, Mayor Suarez became the first US politician to officially take his city salary in Bitcoin and in recent interviewhe said he still gets paid that way.
Every year, the city of Miami hosts several events and conferences that blockchain enthusiasts can attend, including the upcoming Bitcoin Conference 2023, the largest Bitcoin conference in the world. There are also enough opportunities to use bitcoin in everyday life there, with the city around 886 bitcoin ATMs and numerous shops, businesses and restaurants accepting bitcoins.
New York City, New York
With its prominence in both the financial and tech worlds, New York is a prime destination for both Bitcoin users and blockchain companies. The city’s position as a cryptocurrency hub was cemented in 2015 when the New York State Department of Financial Services introduced a licensing framework for the virtual currency businessalthough many Bitcoin proponents have sees this as antagonistic to innovation.
Still people living in New York have access to over 179 Bitcoin ATMs and Consensus, one of the largest cryptocurrency events in the world, launched in the city in 2015. The city’s mayor, Eric Adams, said he’d like to see New York turned into a “bitcoin hub” taking the mantle from Miami.
San Francisco, California
As San Francisco is one of the biggest tech capitals in the world, it’s probably no surprise that it’s also one of the best cities to live in for Bitcoin users. The city is home to many famous cryptocurrency exchanges that make it possible to buy and sell bitcoins, incl. Binance.USA and Coinbase.
San Francisco and San Jose areas boast 474 bitcoin ATMs and have a wide variety of businesses, restaurants, shops, night clubs, hotels and property managers that accept bitcoins. The city also hosts many blockchain conferences and events, including the annual San Francisco Blockchain Week, when blockchain companies and enthusiasts gather from around the world to discuss the future of digital currencies.
The world of Bitcoin is constantly changing and evolving, and so are the cities that host it. From New York to San Francisco and beyond, each of the country’s bitcoin hotspots offers something unique. Whether you’re looking for a thriving startup scene or a supportive community of Bitcoin enthusiasts, these cities are sure to provide an exciting environment for anyone looking to deepen their involvement in the world of Bitcoin.
Redfin does not provide legal, tax or financial advice. This article is for informational purposes only and is not a substitute for professional advice from a licensed attorney, tax professional or financial advisor.
This is a guest post by Jenna Hall. The opinions expressed are entirely their own and do not necessarily reflect those of BTC Inc or Bitcoin Magazine.
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