The most crypto-friendly cities
People are beginning to notice them. They’re popping up right in front of peoples faces. People see them in their closest convenience store, they find them at their favorite malls, inside gas stations, ect., and it’s becoming harder to ignore them as they quickly near the 3,500 marks.
Of course, we’re talking about bitcoin ATMs. As of 7/27/2018 there are 3,451, 2,000 of which are in the US alone. At a rate of 6 BTMs installed a day, we could see the year-end with over 4,500 BTMs. Admittedly, some major cities are friendlier to crypto-ATMs and this largely depends on banking regulations differing between states. We decided to rank the top 5 cities with the most bitcoin ATMs in the nation:
1. LA – 247
The first on the list should not come to you as a surprise since the whole state of California seems to be the quickest to experiment and adopt new technology. Being the most densely populated metropolitan city in the US, combined with the cities modern and technology friendly lifestyle, this city is a no-brainer for companies in the BTM industry. While much of the development of technology is done in Silicon Valley, cities such as San Diego, San Francisco, and Los Angeles have become ideal hubs for adoption. Just in the last month, Bitcoin Depot added 10% more ATMs to the LA area. While the city is densely populated, the market is still extremely competitive.
Chi-town is one of the powerhouse cities of the US in both the tech and finance sectors. As the 3rd most populated city in the US, it’s economic output is only second to NYC. The city boasts 3.6 percent of the US’s national GDP, making it one of the best cities for business. Surprisingly it has the second most ATMs in the nation with 174.
The most powerful city in the US, and second most powerful city in the world according to World Economic Forum, NYC, ranks #3 in bitcoin ATMs. While the city is a financial Goliath filled with wealth and diversity, its crypto regulations make it one of the hardest cities to put ATMs in. Due to this, bitcoin ATMs have not been able to spread as explosively as would be expected. Yet still, those who have been able to get through laws and regulations have begun to fill the city with ATMs, amassing to 154 total BTMs in NYC.
Canada holds the second most BTMs in the world with over 600. It’s largest cities such as Vancouver, Montreal, and Ottawa compete with the biggest cities in the US in terms of BTMs. Toronto though, stands above the rest as the most populated city and the most important city in Canada in terms of financial power. Toronto can hold its own as one of the most crypto-friendly cities in the world with over 151 BTMs.
Significantly smaller than the other cities on this list, Atlanta proudly boasts the 5th most ATMs in the country. Atlanta is ranked 38th most populated city in the US yet is ranked 10th in total GDP. The city has grown exponentially over the past decade making it one of the hottest spots for tech companies, including rumors that the next Amazon HQ is to be placed in Atlanta. The Atlanta area is fierce with competition for bitcoin ATMs, yet Bitcoin Depot still dominates contributing to over 50 of the 115 ATMs in the city. Atlanta is becoming a vital city for the adoption of cryptocurrency.
London is considered in many ways, the most powerful city in the world. Financially, culturally, and economically, London is among the top echelon of influential cities in the world, making it a hub for tech and finance. While Europe doesn’t have nearly the same volume of BTMs as America, London is host to 115 BTMs, more than Spain, France, Germany, and Italy combined. The reasons for low BTM numbers in Europe is largely due to regulation. England and Russia seem to be the most crypto friendly countries in Europe with over 240 BTMs between the two.
Miami comes in as a surprise as it’s not necessarily the most tech-heavy city in the US. While the city ranks 11th in GDP, it’s not considered a financial powerhouse of the US either. Still, Miami is an iconic city known for its flashiness, its vices, and its super-rich residents. And what could be flashier than using a BTM over a regular ATM? That’s right, nothing. Bitcoin Depot currently has 18 ATMs in the Miami area and plans on adding significantly more to the area.