It has been another good week for traders on the LocalBitcoins platform. Multiple countries have reached a new all-time high volume, which is good to see. Some of the countries on this list will not raise too many eyebrows. Some interesting listings include Kenya, Hong Kong, Saudi Arabia and New Zealand. It is good to see more of these records how up. Given the recent Bitcoin price changes, this trend is anything but surprising.
A lot of regions around the world show increased interest in Bitcoin. Considering how this popular cryptocurrency is a perfect investment tool that isn’t surprising. Even though we have seen some wild price swings these past few days, things are stabilizing again. Demand for Bitcoin is growing, mainly in regions where the local economy isn’t doing too well. Countries such as Chile, Colombia, Peru, and Venezuela are the usual suspects on these lists. All four countries set new weekly trading volumes on LocalBitcoins as well.
New LocalBitcoins Records in Eight Countries
Chile is a peculiar region, thanks to its consistent growth. There is no erratic spike whatsoever, which is rather nice to see. Peru is thrashing its previous record, which was only set a week and a half ago. The new record volume is up by 44% in just a week. Very remarkable, to say the least, but maintaining it will be a big challenge. Venezuela is just swinging for the fences right now. Given the monetary situation in that country, the demand for Bitcoin and other alternatives will only continue to grow.
There is no major record in any European country right now, though. It seems Europe is always a much quieter region when it comes to Bitcoin. Regular exchanges also not every little volume in EUR, for some reason. It is doubtful this particular trend will change anytime soon. Other regions setting new records include Kenya, New Zealand, Saudi Arabia, and Hong Kong. Not necessarily the regions one would associate with cryptocurrency trading, though.
All things considered, it is good to see more LocalBitcoins volume in general. It indicates people remain open-minded to the idea of trading Bitcoin for cash and other convenient payment methods. Traditional exchanges are usually limited to bank transfers, which are expensive and cumbersome. This peer-to-peer platform provides a more than viable alternative to traders all over the world. So far, it seems to be generating a healthy amount of volume, which is a positive development.
Header image courtesy of Shutterstock