Top 10 Most Crypto-Friendly Travel Destinations In The World
Cryptocurrency adoption continues to rise at a tremendous pace around the world. Below, we outline the top 10 most crypto-friendly cities and countries around the world.
If there is one word that has been mentioned more than anything in the cryptocurrency world since the start of the year is adoption. The rise of Bitcoin and other cryptocurrencies towards the end of last year has revitalized people’s interest in digital currencies.
Data pulled from Coinmap showed that across the globe, there are 13,150 venues, shops, and ATMs supporting Bitcoin.
The number has been on the rise over the past few years and there is no one that would bet against that figure rising even higher in the near future.
Gili Gershonok, a crypto nomad, is one of the many people today choosing to use only cryptocurrencies for their daily financial transactions. She revealed that most of the crypto prepaid cards she has been using over the years were canceled this year as financial institutions continue to clamp down on cryptos.
Despite the challenges, Gershonok believes that it is still possible to live fiat-free.
She advised those interested in such a lifestyle to also keep in mind the physical security of their devices. On that note, here are some of the most crypto-friendly locations in the world:
Prague, Czech Republic
Prague is the leading city in terms of Bitcoin adoption. The city has a total of 152 venues accepting Bitcoin and is popularly known as the home of the manufacturers of Trezor hardware wallet, SatoshiLab.
Bitcoin can be used for multiple functions in this city such as paying for rent and buying food and drinks.
There is a cinema in the city that accepts Bitcoin as a form of payment and the city is believed to be the most comfortable for Bitcoin.
The Czech government has been very liberal towards Bitcoin as it believes that digital currencies don’t pose any risk to its banking system.
Even the Czech Republic, however, has an Anti-Money Laundering (AML) law which restricts BTC transactions to a certain extent.
The capital city of Slovenia is one of the least popular names in the crypto world. Despite that, it boasts one of the most advanced cryptocurrency economies in the world. It has a Bitcoin city dubbed BTC city with over 500 retail stores accepting Bitcoin.
Adoption in the city is spreading as more parks, shops, and restaurant adopt cryptocurrency payment terminals.
There is no regulation against cryptocurrencies in the country but the government has warned its citizens against investing in fraudulent ICOs and being wary of cryptos.
The Caribbean Tourism Organization (CTO) has worked over the years to ensure that the region becomes more cryptocurrency-friendly. The move was to boost the tourism sector in the area. The Caribbean continues to improve its cryptocurrency adoption.
More than 60 venues in the region now accept Bitcoin and the list seems to only be growing.
The state policies favor cryptos to the extent that the Eastern Caribbean Central Bank (ECCB) announced the development of Digital Eastern Caribbean Dollar (DXCD).
This is a national crypto that would be used alongside their fiat currencies in the eight Eastern Caribbean countries.
When it comes to cryptocurrencies, Amsterdam was one of the first adopters. Bitcoin Embassy is housed in the city and allows crypto enthusiasts to meet and discuss crypto related issues while networking with each other.
The government considers Bitcoin to be low risk in terms of its financial stability, however, the country’s Financial Markets (AFM) is beginning to look into exchanges and if they follow the licensing laws of the country.
Considered by some as one of the largest cryptocurrency nations, Japan has had its fair share of excitement regarding cryptocurrencies. There are more than 80 crypto-friendly businesses in Tokyo, with Bitcoin ATMs being regular sights in the city.
Cryptocurrencies are regarded as legal tenders in the country, thus making it one of the friendliest crypto countries in the world.
It does have the Financial Service Agency (FSA) overseeing the affairs of crypto companies.
The German capital has also been one of the earliest adopters of Bitcoin. Restaurants and bars in the city started accepting Bitcoin almost five years ago and there are now more than 50 venues in Berlin where BTC is accepted.
The European School of Management and Technology in the city accepts Bitcoin as a form of payment.
In the country, cryptos are regarded as private money but not legal tenders. Despite that, investors and traders in the country are still taxed if they hold a crypto more than a year.
Home of the crypto valley, Zug is fast becoming one of the most attractive cryptos and blockchain cities in the world. The high number of crypto companies in the city means that cryptos are used to pay for certain services and products.
The legal status of cryptocurrencies in Switzerland is still unclear, but the Swiss government, like many others, has been generally open to blockchain tech.
Malta is regarded by many as the most crypto-friendly place in the world. The Island houses several crypto companies and that has increased the adoption of cryptocurrencies. It has been very open and passed legislation that makes trading cryptos very easy for companies.
San Francisco, U.S.
In the U.S, this is the city with the highest number of crypto and blockchain companies.
San Francisco houses the Crypto Castle which is a hub for all those seeking investments and has seen a massive increase in adoption.
A federal court in the city accepts Bitcoin for bail. Despite all this, the regulatory position of cryptocurrencies in the country is still unclear. Agencies like the SEC, CFTC, and FINRA have been looking out for investors in the city and guiding crypto companies on how to operate.
Buenos Aires, Argentina
It is perhaps the biggest Bitcoin city in South America with more than 140 venues accepting Bitcoin in the city alone.
Adoption has been on the rise, with local businesses such as the city’s taxi service, photographers, professors, designers, technicians, and psychologists have all began accepting BTC.
Argentina has been vocal about the global regulation of cryptocurrencies, with the high inflation rate in the country one of the reasons why local businesses have turned to Bitcoin.