Seven Cities Leading Bitcoin Adoption in 2015
The number of Bitcoin merchants has risen, the value of Bitcoin startups has increased and most importantly, awareness of Bitcoin has increased in countries with poor banking or financial systems.
The Bitcoin industry has grown rapidly across the globe. The number of Bitcoin merchants has risen, the value of Bitcoin startups has increased and most importantly, awareness of Bitcoin has increased in countries with poor banking or financial systems.
These are the 7 cities that are leading the world’s Bitcoin adoption.
San Francisco, US
San Francisco is home to over 68 rapidly growing Bitcoin startups, including Coinbase (a Bitcoin wallet and merchant processor with over 2 million users), Kraken (a Bitcoin wallet service reportedly helping former Mt.Gox users to hopefully recover their lost bitcoins), Purse, Changecoin and Lawnmower.
The city also plays host to one of the largest cryptocurrency-dedicated VC firms, Boost VC, led by Adam Draper, which has invested in over 100 companies to date. Boost VC plans to invest in 40 – 60 Bitcoin and Digital Reality-focused companies each year.
Currently, the city of San Francisco has over 170 Bitcoin-accepting merchants listed on coinmap.org.
The world’s first Bitcoin ATM was installed in Vancouver on October 30, 2013. Since then, 13 Bitcoin ATMs (or ‘BTMs’) have been installed in the city by the country’s largest Bitcoin exchange Quadriga CX. The Bitcoin exchange recently announced its plans to install BTMs throughout major cities in Canada, including Vancouver, Toronto and Montreal.
Vancouver has over 100 Bitcoin-accepting merchants and several other Bitcoin exchanges and payment processing platforms which help the locals to purchase bitcoins easily.
Amsterdam has fostered key players in the Bitcoin industry such as BitFury and Bitpay, both leading companies in their fields. BitPay handles transactions of over 100,000 merchants globally, while BitFury is currently the largest company for constructing and managing data centers for Bitcoin mining operations.
The number of Bitcoin merchants in Amsterdam has substantially grown since the beginning of a project called “Bitcoin Boulevard”. Aiming to increase Bitcoin awareness in the Netherlands, the team of Hendrink Jan Hilbolling and Peter Klasen convinced more than 10 merchants to accept Bitcoin along a canal in The Hague. Since then, the number of Bitcoin merchants has grown rapidly and there are now over 200 throughout the Netherlands
Due to the country’s poor banking systems and expensive remittance services, Bitcoin has been the perfect solution for most middle-class workers in Makati to send their savings or salaries to the provinces.
Although the sudden growth of the Bitcoin industry in the c