All About the Bitcoin Tennessee Scene
Along with national treasures and favorites like Graceland, the Grand Ole Opry, and Tennessee Whiskey, Tennessee is keeping up with today’s trends. In February 2022, Tennessee introduced a bill which would allow the state, counties, and governments at other levels to invest in Bitcoin. Even without that measure becoming law, Tennessee isn’t going to be left behind on this financial wave. Just as the state encourages its country roots, so too will it encourage the development of the new “Bitcoin Tennessee.”
The New Bitcoin Tennessee: Background
Tennessee is well-known for its blue-collar roots and country music–but did you know that it is also one of the leading mining producers of clay in the US? That’s not all miners have unearthed in Tennessee, though. Tennessee has small amounts of gold deposits that people mine in creeks and rivers to this day! But just as miners look for gold in creeks and riverbeds, this famous country music and mining state has begun mining for digital gold: Bitcoin. Tennessee’s diverse and flourishing music scene is mirrored in its diverse population and the diversification of its financial portfolios as it joins the cryptocurrency scene!
Bitcoin is the world’s first successful decentralized cryptocurrency available to transfer on a peer to peer basis. But what is decentralized cryptocurrency? Essentially, as a decentralized cryptocurrency, Bitcoin doesn’t rely on third party institutions like banks but instead relies on preprogrammed blockchains to protect data and purchases. As Bitcoin grows in acceptance, states like Tennessee are working to introduce it into more mainstream use. Even Tennessee's football team, the Tennessee Titans, is getting in on cryptocurrency; recently, the Titans began accepting Bitcoin, allowing for cryptocurrency as payment for tickets, sponsorships, and more.
As with any new industry, jobs have been created in order to maintain the blockchains needed to keep up Bitcoin maintenance. This influx of jobs for software engineers has created a positive economic impact–just one more reason why Tennessee wants to get in on cryptocurrency.
Where to Spend Cryptocurrency in Tennessee
Where can you spend cryptocurrency? Despite cryptocurrency’s growing popularity, it still can’t be spent or purchased everywhere. However, the Office of the Comptroller of the Currency (OCC), which serves and regulates national banks, recently announced that national banks have the authority to perform custodial services for cryptocurrency. Soon Wells Fargo, Bank of America, and Chase won’t be some of the only cryptocurrency-friendly banks. The number of Bitcoin banks will likely increase as Bitcoin itself grows in popularity!
If you’re new to crypto, you may not know how to find locations where you can convert your shiny new Bitcoins to cash or immediately spend it.The ease of using your Bitcoin also depends on which app you use to pay and which city you’re in. Memphis alone is a miniature Bitcoin Tennessee, with at least five places where you can convert crypto to cash. Many major retailers are now accepting Bitcoin as a viable currency: Whole Foods, Nordstrom, Crate & Barrel, Barnes & Noble, Baskin Robbins, Lowes, Ulta, and GameStop are just a few retailers where you can spend cryptocurrency. Now you can use your digital currency to buy everything from your favorite novel to your favorite icecream!
Memphis Has Many ATMs Where You Can Buy the Bitcoin Tennessee Folks Want
Converting your cash to Bitcoin and other cryptocurrencies can seem intimidating when you don’t know where to go, but you can actually use a familiar technology to do it, at convenient ATM locations. Pelicoin has secure and easy-to-use Bitcoin ATMs across the city of Memphis on Poplar Avenue, East Shelby Drive, BB King Boulevard, and more. The Bitcoin Tennessee residents and visitors want has never been more accessible!
Cryptocurrency Meetups
Now that you know where to spend your cryptocurrency, it’s time to meet other Bitcoin Tennessee enthusiasts. There are lots of cryptocurrency financiers and users all over the ridges of the Great Smoky Mountains and the plains of Tennessee. Crypto-loving visitors from across the nation come to Tennessee to hear the soulful crooning of country and blues music and to see the majestic mountains the state has on offer.
As the Tennessee government considers whether to expand its own use of cryptocurrency, the private sectors and communities around are forming groups to spread the news and join in on the fun. Meetups are a great way to find like-minded people, who may be able to tell you about their own experience with cryptocurrency, where to spend Bitcoin, and the latest crypto news.
There are many online groups where fellow cryptocurrency-users join and host events. In Nashville, the capital city, groups like CryptoYou Community host regular meetups and other groups that host weekly meetups like CryptoMondays. Big cities aren’t the only ones to host events and create groups though; smaller cities like Lake City, Harrison, and Franklin have groups and events coming up that you can join. There are even a few groups across the country music state dedicated solely to Bitcoin, rather than the general use of cryptocurrency. Tennessee is an up-and-coming crypto state that’s just blooming with Bitcoin, waiting for its next investor.
Looking to Join the Tennessee Crypto Scene?
Bitcoin is rapidly expanding to meet the demands of its users, allowing them to use the currency for everyday things. In some places, you can now use Bitcoin to pay rent, invest long term, and pay for items ranging from expensive jewelry to groceries. When you have access to stores that accept cryptocurrency, like WholeFoods, and cryptocurrency ATMs like Pelicoin’s available, it’s easy to get comfortable using crypto. Tennessee has all of this on offer and more, with the sound of live music and the sights of unparalleled landscapes too! If you’re looking for a fun atmosphere where you can buy and spend your cryptocurrency, Tennessee is the place to be.
Cryptocurrency continues to expand its ever-growing audience, in Tennessee and beyond! With Pelicoin’s ATM locations throughout the Gulf South, you’re sure to find one that fits into your daily routine. Check out Pelicion’s blog for more helpful information about cryptocurrency.