The list for the top ten Bitcoin-friendly cities has been revealed. The. Cities indicate the total number of businesses in the specific localities where BTC is accepted in exchange for goods and services. The common factor in all the cities is that they are in fintech savvy cities where technology, innovation, and science are intertwined with business. Surprisingly, the regions of Europe and the Americas dominate the list.
Various Businesses Accept Bitcoins
Some of the enterprises that accept BTC comprise of shops, sports, restaurants, transport, lodging, bars, tourist sites, etc. Although the bulk of the businesses tend to be service providers such as hotels, accommodation, and dining, there is also a growing number of merchants who are accepting Bitcoin in their businesses.
The Leading Bitcoin Cities Are;
1. Prague: 154 Venues
2. Buenos Aires: 130 Venues
3. San Francisco: 111 Venues
4. London: 102 Venues
5. Madrid: 97 Venues
6. Arnhem: 86 Venues
7. Bogota: 85 Venues
8. New York: 80 Venues
9. Vienna: 79 Venues
10. Berlin: 77 Venues
From the list above, it is evident that the outlier is the Dutch city of Arnhem in Eastern Netherland’s province of Gelderland. This is because it has the smallest population of approximately $156, 600 people according to the latest estimates in 2017. Additionally, if the perspective of the greater urban area, Arnhem-Nijmegen Metropolitan, is put into consideration, the population still does not exceed $736, 500. This means that the city has the largest Bitcoin venues per capita in the world.
Nonetheless, Prague in the Czech Republic, Buenos Aires in Argentina, and San Francisco CA in the USA are the overall leading Bitcoin cities in the world. Although the presence of London-UK, Madrid-Spain, Berlin-Germany, and Vienna-Austria is largely expected, the presence of Bogota-Colombia and Buenos Aires-Argentina points out that South America has a footprint in Bitcoin adoption.
The other surprising element is the absence of Asian or African cities. The cities of Dubai-UAE, Mumbai-India, Singapore, Shanghai-China, Tokyo-Japan, Seoul-South Korea or even Johannesburg-South Africa are considered to be tech savvy hotspots. This is an indication that Asia and Africa have a lot to catch up with the West in adopting the leading Crypto.
The Venues Enhance Liquidity Of Bitcoin
The named leading cities signify that it is easy to spend Bitcoin in the given location. There is no need to for Crypto-Fiat exchanges in the location as BTC can be used as a means of payment directly. This makes Bitcoin more valuable as the Coin holders do not have to incur exchange fees that lower the overall value. The overall result is that the liquidity of Bitcoin is guaranteed and BTC is elevated from the status of a mere Digital Asset to a fully-fledged Cryptocurrency.
There Are Customer Friendly Bitcoin Payment Platforms
Bitcoin Blockchain has developed various payment solutions for merchants. They are mostly point-of-sale apps that process BTC transfer in an instant and secure way in line with conventional business operation standards. Examples of these platforms are; BitPay, Coinify, Coinbase, GoUrl, Rocketr, Blockonomics, etc.