Cryptocurrencies are truly a, global phenomena. They are digital assets, which are not subject to borders and fluctuations. In other words, they retain their value in just the same manner across countries and continents.
The value of One Bitcoin would be the same whether it was used in New York or in Addis Ababa. Can you imagine a world, where we did not have to transfer cash, by paying a hefty transaction fee? Alternatively, a world, where our assets and currency was not under government control and untaxable? Or my personal best, a world, where access and inclusion of the poorest poor in the world would be done without any complication.
Yes, Bitcoin makes all this possible and has several other benefits. In this article, we bring you a list of some of the world's top Bitcoin hotspots. The best part about the list is that these hotspots are not located in one country or even continent. You will find them available in different parts of the world.
Top Ten Bitcoin Hotspots in the World: The List
We have compiled the list based on certain factors. All the hotspots have been arranged according to the number of merchants accepting Bitcoins in these places. We have also taken into consideration, the greatest number of Bitcoin ATMs, which are located at these locations. Lastly, we have filtered in the number of Cryptocurrency Exchanges, which are located in these places.
We have arranged the list based on the maximum to minimum factors. For example, San Francisco has the highest number of merchants and Bitcoin ATMs than anywhere else in the world.
Why are Bitcoin Hotspots located in these locations?
One of the major reasons that the Bitcoin hotspots are located in these places is because of acceptance from government authorities. For example, the US is ambivalent when it comes to Bitcoin and other cryptocurrencies.
They have not banned Bitcoins, neither have they made them legal tender. In comparison, Canada welcomes Bitcoin, subject to one core principle. Bitcoins or cryptocurrencies cannot be used for Money Laundering activities.
Places such as Ljubljana in Slovenia in Eastern Europe have seen very less regulations and governmental interference. Miners too prefer these kinds of locations because of easy availability of land and cheap electricity.
London and Zurich host some of the biggest Bitcoin Exchanges in the world. London boasts of having ‘Coinfloor', as well as having the biggest Bitcoin Meet-Up Group in the world. The membership is an astounding 2311 members.
Other places or hotspots who have narrowly missed the list are Malta and Cyprus. Other countries where Bitcoin is very popular, but have not figured on the list are Venezuela and Zimbabwe. These countries are too unstable in economic terms.
Is there a possibility of Bitcoin Hotspots to increase in different locations?
Up until 2017, China was one of the major Bitcoin hotspots in the world. However, the Chinese government banned Bitcoins and other cryptocurrencies in late 2017. In recent news, the Indian Supreme Court struck down a Government and Central ruling on declaring Bitcoins as illegal.
India is expected to emerge as one of the strongest markets for Bitcoin in the world. Given the recent Supreme Court ruling, the entire Bitcoin ecosystem is closely watching the developments in India.
Trading in Bitcoins and other cryptocurrencies, has given rise to making Bitcoin much more mainstream. In different parts of the world, crypto trading through bitcoin era have enabled common people to earn sizable profits. Increase in Bitcoin trading is sure to increase the number of Bitcoin hotspots in different countries and regions.