The Top US States For Bitcoin - Essay Example

The idea of this digital currency is innovative and its progress suggests that it is here to stay.

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Bitcoin has faced some hurdles, scandals and mishaps in their short run but none of it seemed to slow the crypto currency down.

The number of Bitcoin wallets and investments by investors and online merchants continue to rise.

While the public continues to show more interest, Bitcoin ATMs set all over US are making it easier to bridge the gap between active Bitcoin owners and casual onlookers.

These ATMs allow users to buy the virtual currency instantly. Many first-time buyers especially think this adds a hint of familiarity to their otherwise new experience.

These Bitcoin ATMs are being planted almost everywhere around the globe to give access to more people. Yet, depending on where the supply and demands are more the ATM machines are placed in a more concentrated format.

After prior research of the Bitcoin ATM map, it was found where in the United States the Bitcoin ATMs are more popular. The map analysed to find the US states that have the most machines per capita.

According to data, overall 51 Bitcoins ATM are spread across 20 different States. As many people expect, California and Texas are 2 of the most populous states. Each of these states has 9 Bitcoin ATM machines. This means they have 35% of the country’s Bitcoin ATMs.

However, when the states’ population is adjusted, neither Texas nor California falls in the top 5 most popular states for Bitcoin. Some other states that have several Bitcoin ATMs but missed the list are Missourie, Michigan and New York.

As far as number of ATMs are considered Missouri ranks 7th with 3 ATMs, Michigan ranks 14th with 2 ATMs and New York ranks 16th with 3 ATMs.

The top 5 states in US where Bitcoin is most popular have been mentioned below. These have been ranked by the number of Bitcoin ATMs per capita.

1. New Mexico

This south-western state has 3 ATM machines. The very first Bitcoin ATM in USA was established here, in Albuquerque. This state has 1 Bitcoin ATM every 695000 users.

2. North Dakota

This state secured the second position in the list, which is very unlikey as it only has 1 ATM. Yet the impact that this single ATM has is huge, mainly because the state is among the least populous states in the nation. North Dakotha has 1 Bitcoin ATM for every 723000 users.

3. Nevada

Like many people assume, casinos in Las Vegas are a popular place for placing Bitcoin ATMs. If predictions about the crypto currency’s potential for the gambling industry are proven right, more ATMs will be placed. The state has 1 ATM for every 930,000 people.

4. Hawaii

All residents and tourists can get access to their Bitcoin account through ATM in the beautiful island. Hawaii has 1 Bitcoin ATM for every 1.40 million users.

5. Massachusetts

Bitcoin ATMs are so common in this state that there even is one on MIT’s campus. The popular state has 1 Bitcoin ATM for every 1.67 million people.