Russia took the first place in trading volume on LocalBitcoins in November

The residents of Russia continue to show a persistently high interest in bitcoin, which confirms the first place in trading volume on the platform LocalBitcoins, which Russia took in the last month.

CoinDance after analyzing the data, researchers CryptoDiffer noted that in total in November in Russia, transactions have been made at 4335 BTC, or approximately 27% of the total.

After Russia the highest volumes of trades on LocalBitcoins occurred in Venezuela (14%), USA (10%), China (4.5%) and Nigeria (4.3 per cent).

At the same time, Venezuela became the largest amounts of BTC to people. So, on one inhabitant of this located in a deep economic and political crisis of the Latin American countries had deals for 0.00008 BTC ($0,6). Next come Russia 0.00003 BTC (0.2 USD), Colombia 0.00002 BTC (0.15 USD), Sweden 00.000015 BTC (0.12 USD) and Hong Kong 0.000014 BTC (0.11 USD).

In General, the volume of trading on LocalBitcoins in November were 18% lower than in October.

We will remind, in October, Russia has become a world leader in trading volume on LocalBitcoins in the last 1.5 years. A number of analysts believe that one of the reasons for such high performance is the use of crypto-currencies of the Russian business to bypass sanctions.

Meanwhile, you could pay attention to another interesting trend: while the volume of trades on LocalBitcoins in the last two years has been steadily declining (this especially became apparent after the introduction of verification), the main competitor of the platform in the face of Paxful shows the opposite results. Recently, on Paxful was recorded a new record in trading volume in the amount of $29.8 million.

Weekly trade volume on LocalBitcoins — CoinDance

Weekly trading volumes on the Paxful — CoinDance

Earlier intention to compete with LocalBitcoins announced p2p platform LocalEthereum. To this end, it changed its name to LocalCryptos and added support for bitcoin.


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