November 20, 2019
Online cryptocurrency retail directory Cryptwerk lists thousands of blockchain-forward businesses around the world that accept digital currencies as payment for services and goods. The companies on the platform range from online marketplaces to internet services, tourism, and even offline services. The possibilities are endless: Hotels, IT infrastructure, tattoos, the list goes on.
Cryptwerk also features a detailed global heatmap of where businesses available on the platform are located. The result is a bird’s eye picture of crypto-friendly retail that offers a snapshot of cryptocurrency adoption around the world. Although the Cryptwerk data is by no means definitive—there are thousands more cryptocurrency-friendly companies yet to be added to the platform—it is surely worth taking note of which regions are most progressively moving towards digital asset adoption.
We took some snapshots of Cryptwerk’s global heatmap that you can find below, focusing first on the planet as a whole, and then on specific continents…
A Global View
Looking at retail cryptocurrency adoption on a global level offers a clear macro picture of which areas are racing to the front of the pack. While blue shows healthy signs of growth, it’s the regions in red that are showing the most density of adoption.
On a continental level, the United States and Europe show a clear and wide spread of retail adoption of cryptocurrency. Elsewhere in the world, regional hubs in Brazil, India, Hong Kong, and Australia exhibit encouraging growth. On a macro level, Cryptwerk’s analysis indicates global trends will only continue in a sharp upwards trajectory.
The United States
A more granular view of North America indicates some remarkable trends from a global leader in cryptocurrency adoption by retail businesses and services. On the United States mainland, leadership on the coasts in hubs like California and New York has been followed up with strong showings in cities like Denver, Seattle, Austin, Toronto, and Miami. Puerto Rico—dubbed ‘Blockchain Island’ for a reason, presents an outsized showing, while Mexico City is the largest hub in in Mexico.
The largest crypto retail hubs in Europe are centered in London and Amsterdam, with Zurich and Zug propelling Switzerland into contention. The general spread of cryptocurrency adoption in Europe appears even and consistent, with cities like Berlin, Bucharest, and Madrid indicating remarkable growth and development. The sheer ubiquity of retail crypto adoption on the European mainland shows that the region has perhaps the most evenly spread adoption anywhere in the world.
In Asia, Hong Kong shows clear leadership in retail adoption of cryptocurrency, followed by Singapore and Bangkok. India, which has proven to be a major hub of blockchain development, indicates a spread of adoption in major cities. Tokyo and Seoul follow suit. Over in the western half of the region, Dubai and Riyadh also indicate crypto-friendliness.
Development of crypto retail adoption in Africa is lead by South Africa, particularly in Cape Town, while hubs in Nigeria and Ghana are indicating signs of growth. Outsized hubs in the Seychelles Islands and Liberia are positive signs for future growth. As yet, Africa is the continent with most to grow in terms of retail adoption of cryptocurrency, but hopes are high that African nations will move forward in 2020.
Major metropolitan hubs in South America that show most signs of retail cryptocurrency adoption include a number in Brazil, most notable Sao Paulo, while Buenos Aires in Argentina, Montevideo in Uruguay, and Santiago in Chile. Lima in Peru, the island of Curacao, and Costa Rica and Panama also show signs of adoption.
Down under, there are four cities racing to the front of retail cryptocurrency adoption. Melbourne takes the lead by a nick, with Sydney and Brisbane in Australia, and Auckland in New Zealand.
You can check out Cryptwerk‘s map function here.