Prague: The Capital of Crypto-Anarchism and Cold Wallets

Crypto Regulation and Legislation in the Czech Republic

The Czech Republic takes a liberal stance toward cryptocurrencies. Their circulation is not restricted by any strict regulations, creating comfortable conditions for digital innovation. In December 2017, the Czech National Bank even published a document titled “Our Position on Cryptocurrencies? Don’t help, don’t protect, don’t harm, don’t lead by the hand.”

At the time, such a document was unprecedented in its boldness. It emphasized the absence of threats posed by digital assets—back in those distant early days of crypto, most players in traditional markets were predicting Bitcoin’s demise and labeling it “money for terrorists and fraudsters.”

Today, the Czech National Bank is seriously considering state-level investments in the first cryptocurrency, aiming to turn the country into the leading crypto hub in the EU by attracting foreign companies through tax incentives.

Read more about how forward-thinking Czech regulators are building the legal framework for the virtual asset market in our article: “The Czech Republic and Its Crypto-Friendly Policies”

Infrastructure of Crypto Prague

Prague boasts a well-developed technological base. According to CoinATMRadar (as of April 2025), the city has 37 Bitcoin ATMs — more than any other city in Eastern Europe!

Most of the crypto ATMs are concentrated in central Prague: 8 in the Staré Město district (for example, near Můstek metro station), 6 in Nové Město (around Václavské náměstí), and 5 inside the Palladium shopping center.

High-speed internet and cozy coworking spaces complement this ecosystem, while well-known local companies like Satoshi Labs give the city a solid reputation as a true crypto hub.

A thriving subculture of crypto-anarchism — a manifesto of data privacy and independence from state structures — has taken root here. Locals value freedom and innovation, which is reflected in the work of the Institute of Cryptoanarchy, a dedicated space for crypto enthusiasts and developers, known for its annual events like HCPP.

This attracts people for whom decentralization and anonymity have become a way of life.

Interesting Spots and Opportunities for Crypto Expats

Prague is full of places where cryptocurrency is seamlessly integrated into everyday life.

Institute of Cryptoanarchy at Paralelní Polis 

At Dělnická 475/43 beats the heart of the crypto-anarchist community. Founded in 2014 by the Ztohoven collective, the Institute of Cryptoanarchy occupies a former factory and includes a café that accepts only Bitcoin, a coworking space, and a workshop equipped with 3D printers. The venue hosts lectures and the annual HCPP (Hackers Congress Paralelní Polis), focused on decentralized solutions and financial freedom.

For newcomers, a Bitcoin ATM with detailed instructions makes it easy to purchase crypto. This is a place that brings together those who share the ideals of a stateless society.

Headquarters of Satoshi Labs

Located in Žižkov at Biskupcova 1752/7, this company has radically changed how Czechs view the future of cryptocurrencies. While its office is closed to the public, its contribution to the mainstream adoption of virtual assets is immense.

In December 2010, its founders Marek Palatinus and Pavol Rusnák launched the world’s first mining pool — Slush Pool. And by 2017, they had developed the first hardware wallet for cold storage — Trezor.

Trezor stores assets offline, effectively shielding them from hacking attempts, and supports over 1,000 coins, including Bitcoin and Ethereum. In 2021, the company introduced Trezor Suite — a wallet management app that simplifies working with crypto. 

SatoshiLabs has played a major role in making Prague a symbol of secure digital asset storage, and Trezor remains the gold standard of security for crypto holders everywhere.

Read more about the latest model of this unique wallet — which has never been hacked — in our article “Trezor Safe 5 Review”

Crypto spots are scattered all across Prague:

1. In the Old Town, Bitcoin Coffee (Betlémská 5) accepts virtual currencies, serving coffee and light snacks in a cozy atmosphere.
2. Alza.cz (Jindřišská 27), a major electronics retailer, has supported BTC payments since 2017. It offers computers, laptops, and smartphones.
3. In New Town, the Na Uličce bar (Národní 981/17) attracts Prague’s blockchain developers and crypto enthusiasts, bringing together locals and visitors alike.
4. Bitcoin ATMs by General Bytes are located at key spots: 5 in Palladium, 3 near Florenc metro station, and 4 in the Anděl district (Smíchov). The fee ranges from 4% to 6%, making them convenient for quick exchanges.
5. The Prague Blockchain Meetup at Impact Hub (Dr Tin 10) brings together developers and traders to discuss the latest trends. 

Note that SatoshiLabs and their project Slush Pool periodically hire blockchain application developers, project managers, and data analysts. Knowledge of Czech is a plus, but English is often sufficient.

Housing paid in cryptocurrency is still rare, but in Holešovice, you can find apartments where rent can be paid in stablecoins.

Check this out: Dubai Lets You Rent Homes and Cars With Bitcoin

Tips for Visiting Prague

Prague is not only a crypto hub but also a tourist gem, drawing many digital nomads to this historic city.

Here’s what you need to know about housing and key places to visit.

Most Expensive and Cheapest Districts for Renting Housing

Rental prices vary by neighborhood. Staré Město, Hradčany, and Josefov are high-end areas where even a small studio can cost between 25,000–35,000 CZK ($1,100–$1,500) per month due to their location in the historic center.

If you're not a fan of long walks, it’s best to avoid renting long-term housing near Old Town Square, Wenceslas Square, or Charles Bridge. These are the busiest tourist spots in the city, filled with pedestrian zones and notoriously difficult parking.

Not far from the city center lies Vinohrady, considered one of the most comfortable and prestigious districts. Rental prices here are nearly on par with those in the Old Town. The perks of living in Vinohrady include proximity to the center, excellent public transport, and quiet, charming streets.

Žižkov and Holešovice are middle-class districts, with studio rentals starting at 15,000 CZK ($750). These areas are ideal if you’d rather avoid the noisy, tourist-heavy, and expensive city center, yet still want to feel Prague’s vibrant atmosphere.

For the most budget-friendly housing, look along the river in neighborhoods like Podolí, Braník, or Smíchov.

It’s common for landlords to require a deposit equal to two months’ rent.

And remember: under Czech law, every tourist who is not an EU resident and stays in the country for more than five days must register with the immigration police. Hotels handle registration automatically for their guests. 

If you’re planning to rent an apartment in Prague long-term on your own, it’s a good idea to arrange temporary registration. It’s not a criminal offense if you don’t, but in case of interaction with the police — for example, after a traffic accident — they will definitely ask for it.

Climate

Prague is located in a temperate climate zone.

• Summer: warm, up to +25°C, with frequent rain.
• Winter: mild, around 0°C, with light snowfall.
• Spring and Autumn: +10–15°C — perfect for walking around the city.

Tourist Spots

Prague is rich in landmarks:

• Charles Bridge connects the banks of the Vltava River, offering picture-perfect views, street performers, and souvenir vendors. Built in the 14th century, it’s one of the city’s most iconic symbols.
• Prague Castle is the largest castle complex in the world, home to St. Vitus Cathedral and priceless historical artifacts.
• Vyšehrad, located in the south, is a peaceful spot with a fortress, park, and stunning panoramic views of the city.
• Troja Castle is surrounded by gardens and a zoo — perfect for a quiet day out.
• The DOX Centre in Holešovice is a contemporary art gallery known for its exhibitions and lectures.
• Old Town Square, with the Orloj astronomical clock, is a central attraction filled with markets and cafés. 

These places enrich Prague’s crypto vibe, making the city uniquely appealing to tourists.

Crypto Prague Might Appeal To:

• Crypto travelers who appreciate beautiful architecture, long walks, and a high level of service;
• Freelancers with a stable and high income.

The City Is Less Suitable For:

• People with low income looking for budget rental options
• Digital nomads who prefer living close to nature

Read on: The Rise of Crypto Cafés: Where Bitcoin Buys Your Coffee