A study has analyzed various data to draw up a ranking of the best crypto cities, that is, where crypto Whales and other cryptocurrency investors live.
On the podium there are respectively San Francisco, Toronto and London.
Summary
The best crypto cities: San Francisco, Toronto, and London on the podium of the ranking
According to the study by dappGambl, it seems that by combining different data on cryptocurrencies, it was possible to identify which are the best crypto cities.
Based on the crypto laws, the number of crypto ATMs, “crypto Whales”, crypto events, and online interests in the sector in the specific area, it has been possible to identify the best cities where crypto investors live.
At the top of the list is San Francisco, USA, which has obtained a score of almost 90 out of 100, confirming its status as the technological capital of the world. Here, you can find the ideal landscape for crypto startups and investors.
Immediately after, the ranking of the best crypto cities sees Toronto, Canada, which in itself already offers 995 crypto ATMs, three crypto whales, and a high monthly online search volume in the sector.
Bronze medal then goes to London, United Kingdom, which has achieved a total score of 68, also being the top crypto city for the European continent.
The best crypto cities: what are the top 10 in the world?
The dappGambl ranking of the best crypto cities continues until the tenth place.
And indeed, right below the podium, then, there is Sydney, the heart of the crypto scene in Australia, which with its crypto events seeks to create many networking opportunities.
Tied in score, there are then Paris and Singapore in 5th and 6th place. Well, it’s no surprise that Paris is present in this ranking. Even Binance, last March 2023, had bet on the French capital as the next European blockchain hub.
Following, then, Manila and Cape Town are also tied, with a score of 60 placing them in 7th and 8th place.
Finally, the last two of the top 10 cities where crypto investors live are the Spanish Barcelona and the Romanian Bucharest.
California and daily withdrawal limits for crypto ATMs
Returning to the top-ranked city as the best crypto city, San Francisco, last October, the State of California proposed a bill to limit daily withdrawals from crypto ATMs to $1000.
If this law were to be approved, the new limit would come into effect next year, in January 2024.
It can be said that the crypto ATM situation in California has gotten a bit out of hand, with some ATMs offering withdrawal limits of up to $50,000 per day. Not only that, but the fees charged by crypto ATM operators are also very high, some even up to 33%.
For this reason, the new Californian law draft would like these fees to be $5 or a maximum of 15% of the transaction value.
