The World’s Most Crypto-Friendly Cities

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Everyone is watching Bitcoin. With valuation higher than ever, the buzz around adoption stretches from governments (some that ban and some that embrace) to HVAC contracting

Conversations about Bitcoin and cryptocurrency often celebrate the decentralization of the currency. However, the truth is that normalization has to start at a local and community level for any kind of sustainable adoption.

Smaller businesses accepting crypto payments, education on the technology and transactions, and innovative, affordable energy initiatives for mining are all valuable adoption indicators. 

In a new report, the team at moveBuddha has recently released, The World’s Most Crypto-Friendly Cities. They’ve worked to reveal new insights about which cities are best for crypto-enthusiasts.

Is it Possible to Pin Down Crypto-Friendly Cities?

It can be hard to uncover where exactly crypto-communities are thriving. Some may measure by which locales are imposing regulations or accepting payments. Other’s may look at mining paradises or places where the latest crypto-tech and consultants are being born.

To look at a physical indication of the rise in crypto adoption, moveBuddha data researchers took data on Bitcoin ATMs to uncover the top crypto-friendly cities in the US and around the world.

The number of Bitcoin-enabled ATMs has more than doubled in the last year alone. So, this measure of normalization is one increasingly popular way to look at hot spots for crypto-enthusiasts.

The moveBuddha data researchers wanted to uncover new insights. So, taking three metrics: the number of total Bitcoin ATMs, population size relative to total number of bATMs, and the number of bATMs per city $10 Billion GDP, they were able to uncover some unsuspecting cities embracing crypto-culture. 

The Unexpected Cities for Crypto Enthusiasts

While the largest concentrations of bATMs are easily in large metropolitan cities, crossing these total counts with population and GDP data sets revealed some interesting findings.

Ever heard of Harrisburg, Pennsylvania? This small town of less than 50,000 was the top US city for the total number of bATMs per 10,0000 residents. Crypto-interested folks in this small town can sign up to attend one of the regular meetups of the local 300 member-strong area Blockchain and Cryptocurrency group. 

Next up, is Raleigh, North Carolina. Taking a look at local GDP, Raleigh had the most bATMs per $10 Billion GDP. Using the same metric, the small town of Little Rock, Arkansas, comes in at #9. This is noteworthy because the city’s GDP is not very high, but what’s causing the crypto-craze is that the state is especially popular for mining bitcoin thanks to the affordable cost of power.

The study goes on to highlight international cities that stand out, like Tbilisi, Georgia a city of just over a million which is particularly attractive thanks to its affordable hydropower powering mining and virtually no federal regulation.

See the infographic below for more insights: The World’s Most Crypto-Friendly Cities.

Most Crypto-Friendly Cities by # of Bitcoin ATMs
Provided by moveBuddha

Where do Crypto Enthusiasts Actually Live?

Using advanced techniques, the moveBuddha team scraped location data from 103,857 Twitter profiles to identify the top cities listed in the profiles of Twitter crypto users. If we take them at their word, most of the users cited their location as “Global.”

Top Crypto Location is Global
Provided by moveBuddha

Not particularly helpful for uncovering the top cities.

What that tells us though, is how important it is to crypto-enthusiasts that digital currency be accessible no matter where on earth you are.