FX.co ★ Ten world's best cities to spend cryptocurrency

Prague, Czech Republic

Experts consider Prague one of the best places on the planet for Bitcoin users. Here, the cryptocurrency can be used for renting an apartment, buying food in various bars and restaurants, and even for purchasing movie tickets. The Czech government is running a liberal policy regarding digital currencies. In 2017, the local regulator declared that digital money did not pose a threat to the existing banking system. However, national crypto exchanges are required to disclose their customers' personal information.

Ljubljana, Slovenia

This small town of Slovenia is very advanced in the field of cryptocurrencies. In Ljubljana, there is BTC City, a huge shopping mall with 500 retail stores. Some cafes, a water park, and a number of outlets in this complex accept digital money as a means of payment. Although Slovenia lacks legislation on cryptocurrencies, local authorities are interested in this innovative approach. In 2017, the Slovenian government announced its plans to make the country a European leader in the blockchain technology.

Caribbean countries

In 2018, the Caribbean Tourism Organization launched a pilot project aimed at seeking the most efficient ways to use cryptocurrencies in the tourism sector. The Organization intends to explore how digital assets can help promote tourism which is the key industry in the Caribbean. These countries pursue a policy of virtual currencies adoption. The Eastern Caribbean Central Bank has announced the creation of a national cryptocurrency called the Digital Eastern Caribbean Dollar (DXCD).

Amsterdam, Netherlands

This is one of the most advanced cities in the world in terms of cryptocurrencies. Amsterdam hosts the Bitcoin Embassy, a community hub where crypto enthusiasts can gather and discuss various projects. Nearby, there is a cafe which accepts payment in bitcoins. There are over 40 Bitcoin-friendly venues in the city. Moreover, the Dutch government stated that digital assets did not threaten the country's financial stability.

Tokyo, Japan

Tokyo boasts about 80 venues where Bitcoin payments are accepted. Experts estimate that this is one of the highest rates in the world. In Japan, Bitcoins and Altcoins are recognized as a legally-accepted means of payment. As part of the fight against money-laundering, local regulators carry out checks of cryptocurrency exchanges. They require compliance with the Know Your Client Rule, while self-managed Japanese trading platforms are obliged to cooperate with the state authorities.

Berlin, Germany

In Berlin, Bitcoin's popularity is so high that crypto enthusiasts can always feel comfortable. Local bars and restaurants accept payment in the cryptocurrency (over 50 points within the city center area). Since December 2016, the European School of Management and Technology has been accepting BTC as a means of payment for education. Under the national tax legislation, cryptocurrency assets held by an owner for more than a year are exempted from the payment of VAT.

Zug, Switzerland

In the Swiss city of Zug, there are not so many places for tourists using Bitcoins, but crypto enthusiasts love this country. Experts call Zug a Crypto Valley, since it is home to numerous companies working with blockchain and digital currencies. In Zug, cryptocurrency can be used as a payment means for rental housing or company registration. Despite virtual currencies' unclear legal status in the country, local authorities have taken such a bold innovative approach as using the blockchain technology for municipal voting.

Malta

Experts claim that in Malta, crypto enthusiasts would feel right at home. They can use digital money at the Bitcoin & Auto Dealer and in the crypto-friendly sushi restaurant. Malta's Prime Minister Joseph Muscat revealed that the authorities planned to make the island a world leader in the regulation of blockchain-based businesses. In 2018, the local government passed three laws which made the country number one in the world to provide a solid regulatory framework for blockchain companies. So, Malta tries to maintain its status of the “blockchain island”.

San Francisco, USA

This metropolis is called a mecca for crypto enthusiasts. It has about 120 venues where digital currencies are accepted. San Francisco is a hub for cryptocurrency brokers and even crypto millionaires. Despite being watched by such major regulators as the Securities and Exchange Commission and Commodity Futures Trading Commission, the legal status of virtual currencies in the United States is still unclear. The US government continues to work on their regulation, granting the rights to trade Bitcoin futures.

Buenos Aires, Argentina

The city is named the capital of Bitcoin in Latin America. In Buenos Aires, there are a lot of companies working with cryptocurrencies. It is one of the top three largest cryptocurrency centers in the world along with San Francisco and Prague. Among businesses accepting Bitcoins, there are a warehouse and taxi service. Digital currency can be used as payment for the services of some individual specialists such as photographers, teachers, doctors, and others. Experts believe that Bitcoin's popularity in Argentina could be attributed to the devaluation of the national currency and fixed exchange rates.