As Bitcoin adoption grows, some cities are embracing the technology as hubs for businesses, events and the lifestyle of Bitcoiners.
This is an editorial opinion by Jenna Hall, a content marketing specialist with real estate brokerage Redfin.
Bitcoin has taken the world by storm since it was created in 2009. In fact, about 46 million Americans own bitcoin. And as its popularity continues to grow, so does the desire for those who use it to use it in their daily lives.
As a result, several cities in the United States have emerged as hotspots for Bitcoin enthusiasts, entrepreneurs and investors. Take a look at five cities that are leading the way in Bitcoin adoption and innovation, and what makes them attractive destinations for Bitcoiners.
Seattle, Washington
Washington State has a long history with Bitcoin and blockchain technology. In 2018, Wenatchee, a small town three hours east of Seattle, became the center of bitcoin mining in the United States. Since then, Washington cities like Seattle have seen a dramatic increase in people and businesses interested in using digital currency.
Seattleites can buy and sell digital assets at one of the city’s 202 bitcoin ATMs. Speaking of buying and selling, the state of Washington does not tax bitcoin purchases – a unique advantage for Bitcoin enthusiasts living in the state.
Los Angeles, California
As a major center for technology and innovation, Los Angeles has many businesses and individuals experimenting with bitcoin and other digital currencies. Some individuals have even been able to pay their apartment rent in Los Angeles using bitcoins.
The city has really embraced blockchain technology, with many boutiques, restaurants, toy stores, florists and other businesses accepting bitcoin as payment. In 2021, the iconic Staples Center will be transformed into the Crypto.com arena, further strengthening bitcoin and other digital currencies’ ties to the City of Los Angeles.
Miami, Florida
Miami Mayor Francis Suarez has made it clear that he is a digital currency advocate and wants to make Miami the “crypto capital.” In fact, in 2021, Mayor Suarez became the first American politician to officially receive his city salary in bitcoin and, in a recent interview, he said that he is still paid this way.
Every year, the City of Miami hosts several events and conferences for blockchain enthusiasts, including the upcoming Bitcoin Conference 2023, the largest Bitcoin conference in the world. There are also many opportunities to use bitcoin in everyday life there, with the city having around 886 bitcoin ATMs and many shops, businesses and restaurants accepting bitcoin.
New York City, New York
With its prominence in the world of finance and technology, New York City is a prime destination for Bitcoin users and blockchain companies. The city’s position as a hub for cryptocurrencies was solidified in 2015 when the New York State Department of Financial Services introduced a licensing framework for virtual currency businesses, although many Bitcoin supporters have seen this as an antagonist to innovation.
Still, people living in New York have access to more than 179 bitcoin ATMs and Consensus, one of the largest cryptocurrency events in the world, was launched in the city in 2015. The mayor of the city, Eric Adams, said that he wants to see New York . becoming a “Bitcoin hub,” taking the mantle from Miami.
San Francisco, California
With San Francisco being one of the biggest tech capitals in the world, it should come as no surprise that it’s also one of the best cities to live in for Bitcoin users. The city is home to many well-known cryptocurrency exchanges that make buying and selling bitcoins possible, including Binance.US and Coinbase.
The San Francisco and San Jose area has 474 bitcoin ATMs and has a variety of businesses, restaurants, retail stores, nightclubs, hotels and property managers that accept bitcoin. The city also hosts many blockchain conferences and events, including the annual San Francisco Blockchain Week, when blockchain companies and enthusiasts come together from around the world to discuss the future of digital currency.
The world of Bitcoin is constantly changing and evolving, and so are the cities that embrace it. From New York to San Francisco and beyond, every Bitcoin hotspot in the country has something unique to offer. 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 increase 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 my own and do not necessarily reflect those of BTC Inc or Bitcoin Magazine.