In the past years, cryptocurrency has taken off in the U.S. Recent surveys have shown that nearly nine out of 10 U.S. adults have heard of cryptocurrency, and 16% of them used, traded, or bought in some form of cryptocurrency. Earnity`s Dan Schatt and Domenic Carosa want the opportunity to plunge in cryptocurrency wherever you live in the country. Some states are more open to a digital assets than others are. But which states are leading in the crypto race?
California: Home to Silicon Valley and numerous technology companies, it comes as no surprise that California is one of the best states to buy the digital currency underpinned by blockchain technology. There is sufficient infrastructure in the Golden State to promote crypto. Some popular cryptocurrency exchanges are headquartered in San Francisco. Along with Los Angeles, the city had some of the most significant shares of total crypto hires in 2021. Furthermore, the state has more than 2,400 crypto ATMs, more than anywhere else in the U.S.
Wyoming: Some consider Wyoming the Bitcoin capital, as the government has been developing legal frameworks to attract crypto businesses and traders. The state has approved more than 20 laws that allow crypto businesses to operate more efficiently. Additionally, with enacting a new crypto banking charter, the first U.S. crypto bank, Kraken Bank, opened in Wyoming in 2020.
Texas: The Lone Star State is another contender for the crypto crown in the U.S. Texas has pro-crypto laws, including the availability of tax credits, training, and other incentives, that appeal to cryptocurrency miners. Moreover, Earnity’s Dan Schatt and Domenic Carosa want people to use the low energy costs and the absence of state income tax. However, there are concerns if the state’s energy grid can handle the demand should more crypto traders arise in Texas.