In October, the Russians dominated the trading volume on LocalBitcoins

In October, the Russians dominated the trading volume on LocalBitcoins

According to the geographical distribution of interest in Bitcoin in October, Russia was a clear favorite.


10 Nov 2020 , 20:38 @ Katie Müller

In October, the Russians dominated the trading volume on LocalBitcoins

According to the geographical distribution of interest in Bitcoin in October, Russia was a clear favorite.

LocalBitcoins, a peer to peer bitcoin marketplace, saw an increase in trading volume of almost 2Ƀ in October compared to the previous month. Regarding the geographical distribution of interest in Bitcoin, CryptoDiffer gave us a brief overview of countries which have used this platform the most.

As you can see in the picture above, Russia is a sovereign leader with a volume of 3,164Ƀ and 19% of country share. Surprisingly, the second place belongs to Venezuela, which carried out trades of up to 2,117Ƀ, which is 13% of the country share. The USA closes TOP3 with a volume of 1,670Ƀ and a country share of 10%.

Columbia also managed to maintain a trading volume above 1Ƀ with 1,582Ƀ and 9% of the country share together with United Kingdom with 1,025Ƀ and 6% of the country share. However, the table also includes other greats such as China, which clearly does not favor this peer to peer Bitcoin marketplace and has reached only 626Ƀ and 4% country share.

Nigeria with 989Ƀ and 6% of country share and also South Africa with 667Ƀ and 4% of country share remain pleasantly surprising.

As for P2P markets, we only recently informed you about the data for this summer when North America was a clear favorite, followed by the countries of Sub-Saharan Africa, especially Nigeria. Russia itself was well below them, so the October statistics are a big surprise.

The overall trading volume on LocalBitcoins was in October 16,785Ƀ.

Read also: BTC hodlers do not want to sell and are moving their funds away from exchanges

If you like our articles we would be happy if you give us a like / follow

    1,225 Views
    Share to:

    Publication author

    offline 1 day

    Katie Müller

    3
    Comments: 0Publics: 209Registration: 15-02-2020
    Author Image
    November 10, 2020
    Authorization
    *
    *
    Registration
    *
    *
    *
    Password generation