Global LocalBitcoins Trading Volume Continues To Grow

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LocalBitcoins trading volume continues spike all over the world. A new weekly all-time high record was set once again, which indicates the demand for bitcoin is anything but dwindling. Specific regions are more prone to increased buying as of late, whereas other regions have seen their volume dwindle down at an accelerated pace as of late. All things considered, the global chart continues to look pretty solid.

LocalBitcoins Is The Place to Be

Anyone who is looking to get involved in bitcoin but does not want to use a centralized exchange to purchase cryptocurrency has very few options left on the table. LocalBitcoins seems to be the best bet, as it connects buyers and sellers directly. There is no centralized entity holding onto customer funds, which is a big bonus. Moreover, it gives buyers and sellers the freedom of agreeing on payment methods everyone feels comfortable with.

It is not surprising LocalBitcoins continues to see a lot of success in a few specific regions. For the longest time, countries dealing with financial issues have had consumers and enterprises look for alternative solutions. Bitcoin presents such an opportunity, as there is no one to take control over the funds at any given time. At the same time, these users also acknowledge they need to control their funds at all times, rather than keeping money in an exchange wallet.

Everyone has noticed how China is flocking to LocalBitcoins as of late. Given the recent PBoC regulatory changes, that is anything but surprising. China is not alone in this regard, though, as Canada, Chile, Mexico, and a handful of other regions show an increasing demand for bitcoin as well. Especially this latter country is quite interesting, as the ongoing debate about President Trump’s wall requires a contingency plan. For a lot of Mexicans that plan seems to revolve around buying bitcoin to hedge against whatever the future may hold

On the other hand, some countries are showing far less interest in bitcoin right now. To be more precise, Switzerland has seen a sharp drop in LocalBitcoins volume the past few weeks. Albeit Switzerland is one of the healthiest countries in terms of finance right now, an interesting in bitcoin is never a bad thing. Japan, a country where bitcoin has been surging as of late, is not showing  a great interest in Localbitcoins either. People enjoy trading cryptocurrency via centralized exchanges in that country, for some reason.

Header image courtesy of Shutterstock

About JP Buntinx

JP is a freelance copywriter and SEO writer who is passionate about various topics. The majority of his work focuses on Bitcoin, blockchain, and financial technology. He is contributing to major news sites all over the world, including NewsBTC, The Merkle, Samsung Insights, and TransferGo.

View all posts by JP Buntinx

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