Whether you’re a notorious Bitcoin investor or a newbie, you might notice how few real-world opportunities to use the cryptocurrency you have. Indeed, most businesses lack government legal guidance regarding integrating digital assets within their systems, but some cities have moved forward faster than others. That’s how El Salvador became the first country to make Bitcoin legal tender.
On the other hand, it seems much easier for luxury brands to accept Bitcoin payments, especially since their clients are wealthy enough to purchase such products and services. Affluent people buy Bitcoin to acquire cars, real estate, art, and collectibles, so it’s no wonder we see companies like Gucci, Hublot, or Balenciaga accepting crypto for payment.
However, despite online purchases, Bitcoin hubs in the real world are scarce, so the ones available are well-appreciated and in considerable demand. Let’s see which are the best cities for Bitcoin enthusiasts.
Los Angeles
Los Angeles is well-known for its technological hub, attracting young entrepreneurs and startups. This makes it the perfect spot for Bitcoin lovers. With more than 1,700 Bitcoin ATMs scattered across the city and prominent companies like the Blockchain Council, traveling to Los Angeles as an investor is the best decision.
One of the reasons LA is such a great place for Bitcoin is its massive mining power. The sunny climate and affordable power bills make it possible for miners to use sustainable energy resources to mine, power up mining pools, and contribute to the growing mining economy. In addition, the city’s modern infrastructure and tech-savvy miners enhance its influence on the industry.
Chicago
Another American city powering up Bitcoin is Chicago, whose number of ATMs available is close to Los Angeles’s since it reached 1,120. Crypto businesses are also flourishing. It’s worth mentioning that Chicago is more inclusive of blockchains for products and services. For example, Pixelette Technologies has its hub here.
At the same time, cryptocurrency transactions are prominent in Illinois, also known as the Windy City, where investors have access to many ATMs and P2P platforms to buy and sell Bitcoin safely. Moreover, frequent local meetups focus on expert and novice investors and anyone interested in adding cryptocurrency to their ventures.
Hong Kong
It’s no wonder that Hong Kong is one of the countries where Bitcoin investors can access an array of products and services. The region is one of the world’s most developed in terms of tech innovation. Since its extensive promotion of research and development and the increase of venture capital funds, Hong Kong is the best place for Bitcoin investors.
Although it has only 171 Bitcoin ATMs, the number is not insignificant compared to the population. Numerous crypto exchanges, blockchain companies, and Web3 development startups exist. Besides, many shops for luxurious products are available through Bitcoin, especially at the biggest mall, Harbour City.
Tbilisi
Tbilisi is the capital of Georgia and one of the few European hubs for Bitcoin and other cryptocurrencies. With plenty of startups and BTC ATMs, Tbilisi also leverages the benefits of cryptocurrencies like USDC, Tron, and Solana. Remittances, payments, and even buying apartments are possible with crypto here, as the government actively supports their adoption in the country.
Moreover, Bitcoin enthusiasts can participate in numerous conferences and hackathons on crypto, blockchain, and decentralized gaming. Since the government established the Georgian Innovation and Technology Agency (GITA), companies have found it more accessible to attract crypto customers to their products and services.
Vienna
Vienna is notorious for its vibrant cultural life and historical importance, so people might not expect it to be such a massive technological hub as it is. Indeed, Vienna is one city that accepts Bitcoin payments and offers 51 ATMs across the city. In addition, more than 120 shops and businesses offer customers the option to buy with Bitcoin.
Since crypto is legal in Austria, people can also use anything from crypto exchanges, P2P marketplaces, and integrated exchanges with digital wallets. Considering how much luxury shopping is appreciated in the city, wealthy investors and clients will be more than satisfied to find special products that can be bought with Bitcoin.
What to be wary of when making Bitcoin payments
Although buying luxurious items and splurging is possible with Bitcoin, customers, and investors must be careful when making those payments. Although the cryptocurrency lives on the blockchain, one of the safest networks in the world, it still has to go through third parties and vendors, which might expose the payment to risks.
That’s why it’s recommended that you secure your wallet’s authentication credentials and ensure no one can access data about your private key. If you use a hot wallet that’s connected to the internet, take all necessary precautions, such as multiple-factor authentication, and create strong passwords.
On the other hand, Bitcoin is no stranger to scams, especially social engineering ones, in which hackers can influence crypto users through manipulation and deceit to get access to their funds. Scammers can act as trustworthy entities or even community members and gain your trust through well-developed emails and messages.
Romance scams are also common. Sometimes, individuals take a few months or even years to develop a long-term relationship, after which they can safely flee with the money. According to the Internet Crime Complaint Centre, romance scams resulted in $652.5 million being stolen in 2023.
Finally, giveaway scams are some of the biggest problems in crypto, especially since new users enter the crypto community constantly and are not well-educated on the matter, easily falling into such traps. Seemingly trustable companies or individuals create social media posts in which they announce BTC giveaways only for the cost of data or a small amount of money, an act in which many people end up as victims.
What do you think about these global Bitcoin hubs?
Although Bitcoin is legal tender only in El Salvador, an increasing number of countries worldwide accept it for payments due to the massive customer demand. In these countries, customers can also purchase luxury items, from cars to real estate, in crypto. So, if that’s what you’re looking for, consider traveling to Chicago, Hong Kong, or Tbilisi.
