Which Cities Have the Most Bitcoin ATMs?

Bitcoin is fast becoming an accepted form of currency. Miami integrates the cryptocurrency into its monetary systems while others think about moving. A rental company in Los Angeles accepted now Rent payments in Bitcoin. Although it is gaining traction, the cryptocurrency needs more public accessibility before its usage can grow any further. According to Coin ATM Radar, there is 18,000+ Bitcoin ATMs across the country. However, most ATMs are mainly available in the country’s major metropolitan areas.

A current report from moveBuddha ranked US cities by introducing Bitcoin ATMs and noting that the main jurisdictions depended on which factors were considered in the analysis. The report uses data from the U.S. Census Bureau, the United Nations Department of Economic and Social Affairs, and other sources to rank the top Bitcoin ATM cities based on the number of Bitcoin ATMs, the number of Bitcoin ATMs per 10,000 residents, and the Number of bitcoins used to determine ATMs per 10 billion US dollars of GDP.

When cities are ranked by the number of Bitcoin ATMs they have, Los Angeles, California ranks highest with 1,065 available machines. Los Angeles has significantly more Bitcoin ATMs than the other nine cities that made the top 10; Chicago, the city in second place, has 400 fewer than LA Unsurprisingly, all of the cities that made it into the top 10 by number of ATMs are associated with large metropolitan areas with growing tech sectors.

However, not every metropolitan area made it onto the list. New York City, for example, was not in the top 10 despite being the largest city in the United States by population. Los Angeles was the only California city and left out the Bay Area cities that surround Silicon Valley’s great technology hub.

The report also rated the best American cities for Bitcoin ATMs considering population density and saw mixed results. When the analysis took into account the number of Bitcoin ATMs per 10,000 residents, only four of the original cities – Atlanta, Miami, Newark, and Orlando – stayed in the top 10. Harrisburg, Pennsylvania was at 16.24 Bitcoin ATMs per. the front runner 10,000 residents and beating Orlando by more than three.

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Bitcoin is the most expensive cryptocurrency Worth 14 times more than the next Cyber ​​currency that could affect where the demand for Bitcoin ATMs can be found. To take account of this economic relationship between the cryptocurrency and a city, moveBuddha has rated cities a third time to take into account gross domestic product. Harrisburg is moving up to fifth best city with just 20.05 Bitcoin ATMs per $ 10 billion of GDP. Orlando remains in the top 10 again, ranking only after Raleigh, NC. the second place

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While Raleigh is the best city per GDP, Raleigh only had the fourth largest GDP ($ 84 billion) on the list, behind Orlando ($ 139 billion) and the sixth and seventh best Tampa and Indianapolis ($ 159 billion and $ 141). Billion).

One reason for the success of some smaller cities in this category could be that Bitcoin mining is extremely expensive, so areas with cheaper land and utility prices are usually able to lower the cost of mining.

Orlando is the only city featured on all three lists, suggesting that the midsize city is the best overall for Bitcoin ATM adoption, although it doesn’t top any of the categories.

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