LocalBitcoins Trading Continues To Gain Popularity In A Lot of … – newsBTC


Bitcoin trading continues to pique the interest of consumers all over the world. Particularly LocalBitcoins is one of the platforms where new record high weekly Bitcoin volumes can be found on a regular basis. Over the past week, BTC was quite popular in regions such as Colombia, Saudi Arabia, and Thailand. A positive sign for Bitcoin overall, that much is certain.

Considering how the Bitcoin exchange situation in Canada is evolving, it’s no surprise to see more interest in LocalBitcoins. The platform has been generating significant amounts of weekly volume throughout 2016. In 2017, that trend seems to be stronger than ever, with a new weekly record in volume. Just over CAD 380,000 worth of Bitcoin changed hands over the past week, which is quite a solid number.

LocalBitcoins Weekly Records All over The World

Canada is not the only country setting new records in this regard, though. The demand for Bitcoin in Colombia seems to be skyrocketing over the past few weeks. Over 360.7m Colombian Peso worth of Bitcoin was exchanged on LocalBitcoins last week.That is a tenfold increase compared to the first week of January 2016.

One surprising addition to this list is Saudi Arabia. The country is well-known for its riches, yet seems to show a strong demand for Bitcoin as well. Even though its weekly LocalBitcoins volume remains small, a new record of SAR 75,621 was set last week. That is only US$20,000, but still a positive development for Bitcoin adoption as a whole.

Other countries setting new weekly trading volume records include Thailand, Denmark, and Venezuela. This latter country is no surprise at all, considering there is still a lot of financial turmoil in the region. With over 7.6m Venezuelan Bolivar worth of Bitcoin traded on the exchange platform, things are heading in the right direction.

Bitcoin continues to gain more traction all over the world. One thing worth noting is how Japanese Yen trading on LocalBitcoins remains rather flat. Centralized exchanges, such as Quoine, see a lot more success in this trading market. An intriguing market to keep an eye on over the coming months, although it is unclear how things will play out in the long run.

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