The ultimate guide to Miami – Cointelegraph Magazine

Miami is fast becoming one of the major hubs in the crypto world with more and more blockchain companies moving to the city each year.

Miami famously plays host to the Bitcoin Conference each year, and digital assets have been embraced by the mayor and the wider population. Here’s your ultimate guide to the crypto city of Miami.

Fast facts

City: Miami
Country: United States
Population: 6.17 million (Metropolitan Area)
Established: 1896
Languages: English (official), Spanish (~60% of residents), Haitian Creole (widespread) 

“Party in the city where the heat is on,

all night, on the beach till the break of dawn.

Welcome to Miami,

bienvenido a Miami!” — Will Smith

Understand

Just over a century ago, Julia Tuttle, an American businesswoman and wealthy widow from Ohio, purchased a 640-acre estate located on the Miami River that would set the foundation for the modern-day city. In 1894–1895, Florida was hit by a blizzard that devastated the crops and vegetation within the state, but miraculously, Tuttle’s estate was left unscathed from the freeze. Immediately recognizing the area’s economic value, Tuttle asked American industrialist Henry Flagler to construct a railway that would pass through what was then the Village of Miami. Flagler agreed. Within one year, economic development, primarily in real-estate interest, encouraged local residents to incorporate the City of Miami. 

The first wave of immigration into the area started as part of the Florida Real Estate boom in the 1920s, and Miami quickly became one of the state’s premier tourist destinations. During the 1950s to the 1970s, a combination of the Cuban Revolution, the civil war in Nicaragua, and the oppressive policies of Haitian dictator François Duvalier saw many emigrate to Miami in search of a better life.

Known for its all-year tropical climate, low taxes, sound infrastructure, entertainment venues and diverse population, Florida is one of only nine states that does not levy a state tax on ordinary personal income.

The Sunshine State has also become a premier destination for an exodus of Americans from high-tax states such as New York and California, attracted by low goods and services tax and property taxes. The city also serves as a major transportation gateway to access many of the Caribbean Islands’ offshore banking services nearby.

The recent wave of…