Blockchain and Cryptocurrency Adoption in Iowa

03 May 2023

Iowa has been progressive in its adoption of blockchain and cryptocurrencies, with the Crypto ATM network seeing steady growth over the past five years.

General Informations

Population, national and cultural structure

Regarding the economic indicators, the state of Iowa has a gross domestic product of around $180 billion, and a per capita income of around $54,000. This means that Iowa’s economy is on par with the national average. In terms of education levels, Iowa ranks above the national average, with 86% of its population having graduated from high school and 32% having graduated from college. The cultural structure of the state is primarily homogeneous, with a majority of people identifying as Caucasian.

State Economy and High Tech

The economy of Iowa is largely driven by the agricultural and manufacturing industries. In recent years, however, the state has become a hub for high-tech and FinTech companies, with many of them choosing to set up shop in the state. This has led to an increase in employment opportunities, as well as a boost to the state’s economy.

Blockchain and cryptocurrency

In terms of blockchain and cryptocurrency, the state of Iowa has been relatively progressive in terms of adoption. There are a number of companies in the state that offer cryptocurrency-related services, such as mining, trading, and storage. In addition, Iowa is home to a number of crypto ATMs, which allow users to buy and sell cryptocurrencies with cash.

Information about the Crypto ATM network in Iowa

The first crypto ATM in Iowa was installed in 2017 by a company called CoinFlip. The ATM is still operational today and is capable of processing a variety of cryptocurrencies, including Bitcoin, Ethereum, Litecoin, and others. The most common brands of Crypto ATMs in Iowa are Genesis Coin and General Bytes. These ATMs are known for their convenience and low cost, as well as their robustness.

The cities of Des Moines, Cedar Rapids, and Davenport have the most Crypto ATMs in Iowa, with each city having around 10 ATMs. These cities also have the highest population of any city in the state, with Des Moines having around 210,000 people, Cedar Rapids having 130,000 people, and Davenport having 100,000 people. This means that the Crypto ATM per person ratio for these three cities is around 0.005 ATMs per person.

In 2020, there were around 25 Crypto ATMs in Iowa, with the cities of Des Moines, Cedar Rapids, and Davenport leading the way in terms of growth. In 2021, the number of Crypto ATMs in Iowa increased to around 35, with Des Moines, Cedar Rapids, and Davenport continuing to lead in terms of growth. In 2022, the number of Crypto ATMs in Iowa increased to around 45, with Des Moines, Cedar Rapids, and Davenport again leading the way in terms of growth.

Overall, the growth of the Crypto ATM network in Iowa has been steady over the past five years. The most popular cryptocurrencies processed at these ATMs are Bitcoin, Ethereum, Litecoin, and Bitcoin Cash.

Looking to the future, it is clear that the state of Iowa is open to the adoption of blockchain and cryptocurrencies. This is evident in the growth of the Crypto ATM network, as well as the increasing number of companies offering cryptocurrency services. As such, it is likely that the state will continue to be a leader in the space for years to come.

Conclusion

In conclusion, the state of Iowa has been progressive in its adoption of blockchain and cryptocurrencies. The Crypto ATM network has seen steady growth over the past five years, and the state is home to a number of companies offering cryptocurrency services. This is likely to continue in the future, as the state is open to the adoption of new technologies.

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