As Exchanges Pause Withdrawals, Chinese Bitcoin Investors Switch to P2P Trading

As Exchanges Pause Withdrawals, Chinese Bitcoin Investors Switch to P2P Trading

The trading vacuum created by the stringent measures and close scrutiny by the People Bank of China’s (PBoC) upon the country’s bitcoin exchanges has led to traders flocking to alternative platforms. According to Coin.Dance, bitcoin trading volumes on prominent peer-to-peer (P2P) exchange platform LocalBitcoins reached an all-time high during the past week. The same week that saw two of the biggest Chinese bitcoin exchanges., OkCoin and Huobi, freeze withdrawals for up to a month. Other smaller exchanges have since followed, with the likes ofYunbi, BTC100 and BTCTrade strengthening....


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