Buying a good or service with bitcoin seems pretty cool, but in every region is impossible. Nowadays, the extent of merchants intending to accept bitcoin payments is skyrocketing every single day. By the end of 2021, more than a million reputable businesses were accepting bitcoin payments.
Regions that are bitcoin hotspots
There are a few regions where bitcoin payments are accepted in every corner. For example, cities of the United States such as Florida, New York, and San Francisco top the table for bitcoin hotspots. Visit authentic platforms bitcoinbanker to deeply analyze bitcoin trading. Here listed are some cities that are bitcoin hotspots.
- The criteria for a city to be called a bitcoin hotspot are the maximum number of ATMs and merchants accepting bitcoin payments in a particular region.
- Now buying a bitcoin is also possible with Bitcoin ATM. In short, another trading venue that makes a bitcoin purchase possible is bitcoin ATMs. The mere trading venue enabling users to purchase bitcoin is a cryptocurrency exchange.
- Cities in the United States like San Francisco are the leading bitcoin hotspots of all time.
- Multiple government authorities have proposed a cryptocurrency regulatory framework.
- El Salvador and this country’s coastal area are both famous as bitcoin hotspots as bitcoin is operating as a national currency in this region.
As listed above, San Francisco is the leading bitcoin hotspot of all time based on the capital of the United States. San Francisco has installed the maximum number of BTC ATMs out of every city in the United States. BTC ATM is another trending way to purchase bitcoins, another popular method to purchase bitcoin is cryptocurrency exchange and using payment services like PayPal and Cash App.
Cryptocurrency ATMs and merchants accepting this payment method are not why San Francisco is ranked the leading bitcoin hotspot; many BTC exchanges now operating globally have started from this region. Popular exchanges having San Francisco as their home ground are Coinbase and Kraken.
Canada is facilitating cryptocurrencies with a definitive framework comprising robust regulations. However, Canada has taken a friendly stance toward bitcoin by ranking it a commodity for taxation purposes. Like Australia and United States, cryptocurrency exchange operates under the category of money service business.
Vancouver is the top bitcoin hotspot in Canada, and it appears in second place in terms of bitcoin hotspots across the globe. Vancouver is leading the bitcoin hotspot because of the installation of the bitcoin ATM.
When the first bitcoin ATM arrived, it was installed in Vancouver by a financial firm, and that is where the concept of the bitcoin ATM became famous. Like San Francisco, Vancouver is correspondingly home ground to numerous cryptocurrency exchanges. The city comprises nearly 300 BTC ATMs, and more than a thousand businesses accept bitcoin payments.
Entire El Salvador is ranked as a bitcoin hotspot after the government authorities turned bitcoin into the primary national currency of this country. Before this crucial move of government authorities, El Zonte, the coastal area of this country, was ranked as a bitcoin hotspot. Since El Salvador comprises bitcoin as a primary currency, it comprises a massive extent of bitcoin ATMs in contrast to any other region.
El Salvador got its first bitcoin ATM installed by a financial firm during the first pandemic. And now, El Salvador is going through an installation of 1500 BTC ATMs. Moreover, with bitcoin becoming the national currency of this country, the use of this cryptocurrency is now probable in almost every task Salvadorans used to do with USD.
New York is also a bitcoin hotspot as businesses accepting bitcoin payments in this city are more than 200. Therefore, new York is appropriate for bitcoin ATM installation and for cryptocurrency-based startups, as many developers initiated their cryptocurrency-based startups in this city.
Other famous bitcoin hotspots!
Few European regions like London and Amsterdam are correspondingly classified as bitcoin ATMs. Europe is moving with a friendly stance towards cryptocurrencies. Florida and New Hampshire are also very famous bitcoin hotspots.
The above-listed portion includes a list of the most popular bitcoin hotspots. San Francisco and El Salvador are the leading bitcoin hotspot.