As many more people are beginning to acknowledge, accept, and even trade in Bitcoin, there is a general increase in people’s curiosity about everything about the crypto world. You might well be wondering whether these service providers are reputable exchanges with physical locations that you can visit. The good news is that some do operate physical offices. In fact, their locations might surprise you. In this post, we explore some well-known Bitcoin exchange locations.
China
China is one of the top cryptocurrency markets. It is also home to a well-established mining hardware manufacturing industry. Nearly 70% of all mining hardware is produced in China, making it the world leader in the industry. One of the most exciting aspects of Beijing’s Bitcoin industry is that the city hosts several crypto exchanges and mining operations. Such operations are responsible for processing and validating all bitcoin transactions.
For those unfamiliar with crypto mining, it plays an integral role in creating and disseminating new Bitcoin tokens. The mining process involves solving complex mathematical puzzles that are connected to validate new transactions. New bitcoins are created and added to the blockchain as a reward for this service. The Main Chinese exchanges include Binance, Huobi, and Bitfinex. However, as the Chinese government banned Bitcoin in 2017, you cannot legally make deposits and withdrawals in China.
Turkey
Turkey is home to a Bitcoin exchange. It is relatively affordable because its electricity and internet costs make it an ideal location for cryptocurrency mining operations. Plus, there are fair regulations governing crypto. As a result, Turkey is home to several large mining operations. Perhaps the most known Turkey-based exchange is NakitCoins.
United States
The United States boasts many Bitcoin exchange locations. California and New York are home to the highest concentration of Bitcoin businesses. These include exchanges, trading platforms, and mining operations. While many of these companies are still in their infancy, they are growing rapidly. New York is considered the top Bitcoin exchange location in the United States because it is home to the highest number of trading and mining operations. Some of the popular exchanges in the US include Kraken, Coinbase, and so on.
Japan
Most of Asia’s top Bitcoin exchange locations are in China and Turkey cities. However, Japan is also home to a robust and active Bitcoin community. The country hosts several mining operations and exchanges. The world’s first Bitcoin ATM was also made in Japan. This is operated by a company called Bitflyer. The popularity of Bitcoin in Japan has been attributed to several factors. First, the country’s low-interest rate has led to increased savings rates. Due to this shift, people have more money to invest. Second, Japan has a strong history of innovation and entrepreneurship. Third, the Japanese government has been relatively open to digital currencies. Popular Crypto exchanges in Japan include Bitbank and Mt. Gox.
Conclusion
It is crucial to understand that a city’s geographical location has no bearing on whether or not it hosts a legitimate Bitcoin exchange. Many companies use a virtual trading platform to facilitate Bitcoin trading. Such an arrangement allows them to do business from anywhere in the world. Furthermore, it is also crucial to understand that trading in Bitcoin does not require you to visit any physical location. Thanks to virtual trading platforms, you can do so from the comfort of your own home or office.
