Lisbon, the Portuguese capital, has emerged as the leading destination for crypto enthusiasts worldwide, topping the likes of New York, Berlin and Paris, according to a report by European crypto investment firm. Greenfield,
To fill the gap left by the absence of regional reports on global crypto development, Greenfield surveyed 68 founders of projects with a deep European footprint from January 31 to March 20 this year.
Result The study crowned Lisbon as the “Crypto Capital of Europe – and Beyond”.
Europe There are three metros in the top 10, with Paris in seventh place.
SingaporeIn fourth place, is the only Asian center in the top 10.
In WeSilicon Valley, Miami and Denver also ranked high.
In another question, the founders were allowed only one nomination for the most important European crypto hub.
Lisbon won with 35% of the vote, followed by Berlin (30%) and Paris (20%).
London (5%) joined the top 5 list.
Notably, however, 20% of respondents were skeptical about the Crypto Hub concept. These were classified as ‘none/decentralised’.
One founder said:
“Crypto is distributed worldwide. There are probably ~15-25 locations that are large, each with a slightly different focus/strength.”
Many respondents gave different focuses and advantages to different centers.
For example, Lisbon has a strong decentralized finance (DeFi) view, and it is attractive to companies for tax reasons, the report said.
There is a ‘crypto brain drain’ in both Europe and the US and Lisbon benefits from both.
“There are a lot of US crypto expatriates in Lisbon,” it said.
New York provides good access to Venture Capital and Tier 1 conferences.
Berlin has a strong “European startup culture, a remarkable crypto track record, and one of the world’s finest and most active developer pools.”
Paris is known for its crypto-summit scene as well web3 and non-fungible tokens (nftecosystem.
Confidence in crypto remains high
Greenfield’s survey produced several other notable findings.
Although 2022 was “challenging”, it said, the survey’s founders are still confident when looking to 2023 and the future of crypto Europe.
“The return is expected for 2023 and in the long term (up to 2030), there is nothing short of “ubiquity of crypto,” it said.
Regulation is seen as the most influential theme of this year. The founders argued that Europe was moving in this direction, especially European Union With its markets in crypto-assets (mica) framework.
User experience, relevant use cases, and regulation are the biggest challenges to mass adoption.
The report states that despite the decline in market share, Crypto Europe continues to build.
As more European crypto projects mature, there is a shortage of commercial talent.
The report concluded that European universities are creating dedicated crypto master’s degrees and universities in the UK, Ireland and Spain are becoming crypto hubs.
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