November 7, 2022 4:50 pm in Crypto

Crypto Trends in Jacksonville

Jacksonville is one of the most exciting crypto hubs in the nation. Though this city might not seem like a tech capital at first glance, it has several unique features that make it perfect for crypto investors.

Jacksonville Leads the Nation in Crypto Per Person

Cryptocurrency might be a way to decentralize finance, but that doesn’t mean it’s entirely online. There are many real-world places where cryptocurrency investment flourishes. These crypto cities tend to be areas where local laws promote cryptocurrency use and people are greatly interested in technology.

A close look at the market shows that Jacksonville, FL leads the nation in crypto investment. A new report from Status Money found that Jacksonville has the highest rates of crypto investment per citizen. The city reports that its citizens own a total of $27 billion worth of crypto. This averages out to $31,468 crypto per Jacksonville resident.

In addition to making a lot of money in crypto, Jacksonville handles large volumes of trading each day. The city ranks third highest in amounts of crypto traded around the nation. Jacksonville residents also routinely search for crypto topics at higher rates than other regions. Search engine analytics reveal that people living in Jacksonville regularly look up obscure cryptos and spend a lot of time keeping up to date with crypto trends.

All of this data shows that Jacksonville is an ideal area to be in if you’re interested in cryptocurrency. Not only do you have some unique financial opportunities, but you also have a lot of networking opportunities. The city is filled with organizations that focus on investing in decentralized finance and cryptocurrency.

Many Jacksonville Trends Contribute to Crypto Growth

Why is Jacksonville such a popular center for crypto? Several factors contribute to the cryptocurrency boom in Jacksonville.

A strong history of using cryptocurrency: Perhaps due to its high student population, Jacksonville has always adopted crypto trends faster than other regions. A Jacksonville computer programmer was the first person to ever buy a pizza with bitcoin. In 2010, he paid 10,000 BTC for a single pizza which would now be equivalent to almost $100 million.
High numbers of tech companies: Jacksonville’s affordable property and business-friendly laws make it a popular location for tech. Four Fortune 500 companies are in the city, and there are also countless tech startups. Some of these organizations specialize in crypto, but even non-crypto tech companies still tend to trade large volumes of cryptocurrency.
Minimal trading requirements: Florida has fairly lax laws on trading cryptocurrency. People can start an LLC and begin trading huge volumes of crypto in no time at all. This makes it very easy for newcomers to enter the market.
Convenient access to cryptocurrency: Jacksonville has many organizations that make it easier to work with crypto. The city boasts hundreds of crypto ATMs and many of their major banks accept cryptocurrency. This makes it convenient for people to both buy and sell crypto.
Support from universities: Jacksonville is home to many different colleges and universities that focus on technology. This has created a flourishing culture of innovation. For example, a recent endowment allowed students to experiment more with crypto.

Explore Some of the Biggest Crypto Trends in Jacksonville

As you can see, there are several unique aspects of Jacksonville culture that encourage crypto trading. Jacksonville crypto trends lean towards experimental trading techniques and crypto trading at a commercial level. A closer look at the Jacksonville crypto market reveals some other interesting trends.

Unusual Cryptocurrency Choices

First of all, it’s worth noting that Jacksonville residents tend to lean towards less common crypto. Though they do invest in Bitcoin and other big coins, Jacksonville search analytics show that most people are looking up crypto underdogs. Here are a few of the coins that are particularly popular in Jacksonville lately.

Celsius
Luna
Pancakeswap
Gala

Cryptocurrency Real Estate Transactions

Another big trend is incorporating cryptocurrency into real estate. In early 2022, Florida made waves by becoming the first state to let a home be auctioned for cryptocurrency. Since then, the link between crypto and real estate has gotten even stronger. Many of the top Jacksonville crypto investors manage portfolios that include both crypto and real estate speculation. The ability to create smart contracts with cryptocurrency provides many exciting opportunities. It allows people to complete financial transactions much more quickly and ensures contracts are legal and enforceable. Some Jacksonville investors hope to create services that allow crypto to be used for all sorts of commercial and residential real estate transactions.

Convenient Crypto Trading

The final trend that’s making waves in Jacksonville right now is simplified crypto. Most people aren’t interested in complicated crypto wallets, crypto mining, or other high-tech crypto features. Instead, Jacksonville residents tend to treat crypto like any other financial investment. They want to be able to link their crypto to their bank account and trade with a basic app. Many Jacksonville businesses are rising to the occasion. Several Jacksonville banks have started processing crypto transactions, and a few credit unions have even added crypto trading to their mobile apps.

What’s Next for Jacksonville Crypto?

Ultimately, the Jacksonville crypto market is in a very exciting stage. Those looking to explore all the applications of crypto have a lot of ways to get involved. From big investment companies to innovative startups, Jacksonville is filled with people exploring the many uses of crypto.

Even those who don’t want to get into all the details of crypto can benefit from this explosion of innovation. Jacksonville offers a lot of helpful services for those who want to try investing in crypto. The ability to connect your crypto to a Jacksonville bank or walk up to one of the many crypto ATMs in Jacksonville makes it easier than ever to control your finances.