Most Crypto-ready Cities 2024

As we move into 2024, the crypto space has witnessed a major shift. Various cities have risen to the forefront, setting new standards in how technology, regulation, and public perception come together to create a vibrant environment for digital finance. But, which cities provide the most opportunity for trading and investment, and the most enthusiasm for crypto?

We conducted a focused study to identify the most crypto-ready cities by analyzing seven key metrics. We assessed crypto ownership, looked at the number of crypto sector jobs, and evaluated the frequency of crypto events. Additionally, we measured the presence of crypto-related companies, assessed the legal environment for cryptocurrency, determined business acceptance of crypto, and counted cryptocurrency ATMs. This enabled us to assign each city an index score based on its readiness for cryptocurrency. Lastly, the cities were ranked by their index scores to figure out the most crypto-ready city.

Coinbase employee Daniel Huynh holds a celebratory bottle of champagne as he takes a photograph outside the Nasdaq MarketSite, in Times Square, New York, U.S., Wednesday, April 14, 2021. (AP Photo)

Key Findings

New York stands out as most crypto-ready
city with a total score of 85.85/100

Tokyo ranks as the least crypto-ready city
among the top 50, scoring only 52.84/100.

Manchester has the lowest crypto-readiness score in
the United States, with 47.02/100.

Los Angeles,
Singapore & Rome stand out as the most crypto-ready cities
with a total score of 85.85/100.

1810 ATMs Los Angeles is the city with the most
crypto ATMs in the world.

6 out of the top 10 cities with the most
cryptocurrency ATMs are in the U.S.

Top 50 Crypto Ready Cities

New York has the highest level of crypto readiness, with an impressive score of 85.85/100. This dominance of the digital currency space by the city was not born out of luck, but rather its standing as a premier financial center that has spread its influence to the world of cryptocurrencies. Wall Street, long known for its strength in traditional finance, is now also a hub for crypto trading and development. Furthermore, the NYDFS has been essential in promoting a regulated yet thriving environment for crypto businesses through the BitLicense regulations.

Coming in second is London, with a score of 84.15/100. The city has a supportive regulatory framework that, when combined with its tech scene, makes it a great place for crypto companies and those who are passionate about it. The UK's Financial Conduct Authority (FCA) has greatly assisted in developing a secure atmosphere for crypto investments by supplying clarity and support.

Contrastingly, Tokyo, known for its technological advancements, ranks as the least crypto-ready among the top 50, scoring only 52.84/100. Despite Japan's recognition of Bitcoin as a legal tender, the cautious attitude taken by its regulatory bodies has had a negative effect on Tokyo's crypto readiness.

With a score of 71.44/100, Singapore stands out as the leader in Asia. Its well-thought-out strategy, which is a combination of rules and regulations to protect and encourage innovation, has made it a popular place for crypto companies. The Monetary Authority of Singapore (MAS) has been actively creating regulations to help crypto businesses while still allowing innovation to thrive.

	FULL DATA		Ownership Score	Employment Score	Event Score	Companies Score	Legal Score	Crypto Acceptance	ATMs	Crypto Ready Score
1	New York	USA	72.60	100.00	79.03	34.29	100.00	100.00	45.14	85.85
2	London	United Kingdom	61.66	88.21	100.00	85.71	100.00	33.33	0.22	75.24
3	Los Angeles	USA	80.05	100.00	0.00	100.00	100.00	27.27	100.00	73.46
4	Sydney	Australia	63.50	100.00	72.58	85.71	100.00	21.21	35.91	73.22
5	Singapore	Singapore	52.96	100.00	70.97	97.14	100.00	18.18	29.67	72.23
6	Paris	France	26.46	100.00	80.65	82.86	100.00	30.30	27.62	71.44
7	Toronto	Canada	20.85	100.00	66.13	85.71	100.00	30.30	55.64	71.11
8	Melbourne	Australia	8.86	97.87	43.55	80.00	100.00	21.21	9.12	62.73
9	Vancouver	Canada	70.28	88.21	0.00	88.57	100.00	12.12	0.22	62.14
10	Istanbul	Turkey	1.25	94.09	62.90	68.57	100.00	18.18	0.77	61.36
11	Cape Town	South Africa	47.36	88.21	20.97	85.71	100.00	6.06	0.22	60.45
12	Tel Aviv	Israel	4.50	88.21	58.06	85.71	100.00	0.00	0.22	58.66
13	Vienna	Austria	3.20	97.87	100.00	28.57	100.00	0.00	3.20	58.12
14	St. Petersburg	Russia	69.83	88.21	22.58	48.57	100.00	0.00	0.22	57.93
15	Johannesburg	South Africa	23.43	93.64	12.90	80.00	100.00	9.09	0.39	57.83
16	Barcelona	Spain	9.23	97.87	22.58	60.00	100.00	18.18	3.48	57.78
17	Guadalajara	Mexico	14.15	93.64	24.19	94.29	100.00	0.00	0.39	57.65
18	Buenos Aires	Argentina	7.61	93.64	17.74	85.71	100.00	9.09	0.61	57.32
19	Rio De Janeiro	Brazil	25.47	88.21	19.35	88.57	100.00	0.00	0.17	57.17
20	Athens	Greece	3.75	93.64	19.35	97.14	100.00	3.03	0.77	57.03
21	Moscow	Russia	0.00	94.09	24.19	82.86	100.00	9.09	1.22	56.99
22	Chicago	USA	0.00	100.00	0.00	54.29	100.00	18.18	58.12	56.97
23	Christchurch	New Zealand	3.40	86.24	46.77	80.00	100.00	0.00	0.11	56.65
24	Santiago	Chile	10.22	93.64	32.26	80.00	100.00	0.00	0.39	56.63
25	Pretoria	South Africa	52.15	80.37	22.58	48.57	100.00	6.06	0.06	56.58
26	Birmingham	United Kingdom	21.27	86.24	9.68	97.14	100.00	0.00	0.06	56.44
27	Ho Chi Minh City	Vietnam	100.00	88.21	4.84	20.00	100.00	0.00	0.28	56.32
28	Bogota	Colombia	16.38	94.09	14.52	85.71	100.00	0.00	1.33	56.14
29	Rome	Italy	9.87	94.09	6.45	97.14	100.00	0.00	0.77	55.79
30	Ankara	Turkey	14.38	80.37	20.97	85.71	100.00	3.03	0.06	55.75
31	Munich	Germany	19.53	93.64	16.13	77.14	100.00	0.00	0.61	55.67
32	Hamburg	Germany	8.16	93.64	9.68	94.29	100.00	0.00	0.55	55.60
33	Osaka	Japan	17.34	80.37	64.52	8.57	100.00	15.15	0.06	55.11
34	Delhi	India	25.86	86.24	24.19	51.43	100.00	6.06	0.11	54.99
35	Manila	Philippines	3.85	93.64	24.19	77.14	100.00	0.00	0.55	54.91
36	Montreal	Canada	18.34	100.00	0.00	17.14	100.00	27.27	15.08	54.76
37	Dubrovnik	Croatia	5.17	80.37	40.32	71.43	100.00	0.00	0.06	54.73
38	Madrid	Spain	7.78	97.87	4.84	42.86	100.00	21.21	2.27	54.69
39	Perth	Australia	0.15	97.87	9.68	85.71	100.00	0.00	5.25	54.60
40	Berlin	Germany	14.36	93.64	19.35	31.43	100.00	18.18	0.66	54.55
41	Taipei	Taiwan	7.40	88.21	9.68	82.86	100.00	3.03	0.17	54.43
42	Bucharest	Romania	4.85	97.87	16.13	71.43	100.00	0.00	3.26	54.19
43	Durban	South Africa	17.15	93.64	1.61	77.14	100.00	0.00	0.39	53.97
44	Florence	Italy	6.53	88.21	14.52	80.00	100.00	0.00	0.17	53.93
45	Cartagena	Colombia	25.25	80.37	12.90	68.57	100.00	0.00	0.06	53.71
46	Washington	USA	0.00	94.09	14.52	77.14	100.00	0.00	1.88	53.67
47	Budapest	Hungary	2.98	97.87	24.19	60.00	100.00	0.00	2.54	53.63
48	Georgetown	USA	0.00	88.21	0.00	97.14	100.00	0.00	0.11	53.54
49	Mexico City	Mexico	6.68	94.09	22.58	57.14	100.00	0.00	1.49	53.12
50	Tokyo	Japan	20.84	86.24	11.29	60.00	100.00	0.00	0.11	52.84

Top Crypto-Ready Cities in the U.S

In the U.S., the level of crypto-readiness varies considerably among different cities. San Francisco and Chicago, which have vibrant tech-oriented societies and favorable legislation, are among the more crypto-friendly cities. In contrast, Manchester has the lowest score at 47.02/100, indicating the necessity for increased infrastructure and regulations to make it more hospitable for cryptocurrency.

	FULL DATA	Ownership Score	Employment Score	Event Score	Companies Score	Legal Score	Crypto Acceptance	ATMs	Crypto Ready Score
1	New York	72.60	100.00	79.03	34.29	100.00	100.00	45.14	85.85
2	Los Angeles	80.05	100.00	0.00	100.00	100.00	27.27	100.00	73.46
3	Chicago	0.00	100.00	0.00	54.29	100.00	18.18	58.12	56.97
4	Washington	0.00	94.09	14.52	77.14	100.00	0.00	1.88	53.67
5	Georgetown	0.00	88.21	0.00	97.14	100.00	0.00	0.11	53.54
6	New Orleans	0.00	97.87	0.00	77.14	100.00	0.00	5.97	52.80
7	Panama City	0.00	94.09	12.90	62.86	100.00	3.03	1.82	52.68
8	Dublin	0.00	86.24	0.00	88.57	100.00	0.00	0.06	52.48
9	San Francisco	0.00	100.00	0.00	57.14	100.00	3.03	21.99	52.42
10	Las Vegas	0.00	100.00	0.00	65.71	100.00	0.00	14.81	52.31
11	Memphis	0.00	97.87	0.00	51.43	100.00	0.00	7.02	50.28
12	Miami	0.00	100.00	0.00	20.00	100.00	3.03	43.65	49.79
13	Seattle	0.00	100.00	0.00	17.14	100.00	0.00	11.44	47.29
14	Austin	0.00	100.00	0.00	2.86	100.00	3.03	25.86	47.18
15	Manchester	0.00	94.09	0.00	25.71	100.00	0.00	0.77	47.02

Top 10 Cities with Most Crypto ATMs

In Los Angeles, there are 1810 crypto ATMs, which demonstrates the city's effort to make crypto transactions available to the public. This abundance of ATMs not only allows for the easy usage of digital currencies but also reflects the rising public acceptance of cryptocurrencies.

The U.S. dominance in this area is significant, with six out of the top ten cities for the most cryptocurrency ATMs located within the country. This demonstrates the nation's efforts to offer more public access to digital currencies, with cities like Chicago, Miami, and Atlanta especially prominent.

Number of crypto ATMs

USA

Los Angeles

1810

USA

Chicago

1052

Canada

Toronto

1007

USA

New York

817

USA

Miami

790

Australia

Sydney

650

Singapore

537

France

Paris

500

USA

Austin

468

USA

San Francisco

398

Top 10 Cities with the Best Crypto Employment Opportunities

Once again, Los Angeles has achieved a perfect score of 100 in terms of employment in the cryptocurrency industry. The city has become very attractive for both new startups and more established businesses, providing a variety of employment options in the crypto world.

Despite the hurdles of regulation, Singapore managed to attain a score of 98.57/100 in the crypto job market, demonstrating its strength. This is evident in the city's active trading community, as well as its competition with other financial hubs in Asia for crypto talent, resulting in a high employment score.

Rome is moving up the ranks in Europe's cryptocurrency job market, boasting a score of 96/100. The city's encouraging regulatory climate and flourishing fintech industry have made it an attractive place for crypto-related professionals.

top-10-cities-with-the-best-crypto-employment-opportunities

Country
City

Employment
Score
Companies
Score
Total Score

USA

Los Angeles

100.00 100.00 100.00

Singapore

100.00 97.14 98.57

Italy

Rome

94.09 97.00 96.00

Greece

Athens

93.64 97.14 95.00

Mexico

Guadalajara

93.64 94.29 94.00

Germany

Hamburg

93.64 94.29 94.00

Australia

Sydney

100.00 85.71 93.00

Canada

Toronto

100.00 86.00 92.86

USA

Georgetown

88.21 97.14 92.68

Peru

Lima

88.21 97.14 92.68

Conclusion

Come 2024, there will be a notable shift in the incorporation of digital currencies into cities' economies. New York, Los Angeles, and Singapore are taking the lead in this trend and are consequently creating a future of finance by making digital currencies an essential part of everyday economic activities.

Methodology

In this research, we investigated prominent cities globally, assessing them across seven key metrics to identify the city most prepared for cryptocurrency. The metrics used were:

Ownership Score

This measures the percentage of crypto ownership in each city across various countries, with data sourced from Triple A's crypto ownership data.

Employment Score

Information regarding employment was gathered from the report available at The Global Crypto Industry.

Event Score

This involved collecting data on crypto-specific events, primarily from Eventbrite's page.

Companies Score

Data was obtained by identifying companies associated with the keyword "crypto" on LinkedIn.

Legal Score

This index evaluated the legality of using cryptocurrency in each city worldwide.

Crypto Acceptance

This assessed the extent to which businesses in each city accept cryptocurrency.

Number of ATMs

Data regarding the number of cryptocurrency ATMs was sourced from Coin ATM Radar.

The data we collected enabled us to give each city an index score based on its readiness for cryptocurrency. Lastly, the cities were ranked according to these index scores to identify the most crypto-ready city.