LocalBitcoins Volume In South Africa Shows 50-fold Growth In One Year
The concept of Bitcoin has been attracting attention from all over the world in recent years. Digital currency provides a way to achieve financial freedom regardless of one’s location or access to existing services and platforms. South Africa seems to be taking a serious liking to Bitcoin in recent weeks, as the LocalBitcoins trading volume keeps spiking week over week. South Africa Goes Through Financial Turmoil. Historically speaking, the increase in trading volume on LocalBitcoins in South Africa has been taking place since April of 2015. Even though a small increase is nothing to make....
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Localbitcoins saw a roughly 85 percent increase in global volume over the course of 2016, and the growth seen by this bitcoin trading platform was seen equally in both the developed and developing world—albeit for different reasons. While the need for increased privacy and the avoidance of Know Your Customer regulations is known to be the driving force....
Werner van Rooyen, head of Business Development and Growth at Bitx, the biggest Bitcoin exchange in South Africa in terms of user base and average trading volume, speaks with Cointelegraph about the penetration of Bitcoin in South Africa. Cointelegraph: How would you evaluate Bitcoin demand in South Africa? Werner van Rooyen: The demand for Bitcoin is based on the potential that the cryptocurrency has; either as an improved payment technology (means of payment) or as an alternative asset class (storage of wealth). CT: Could you paint a vivid picture of the Bitcoin Start-up landscape in....
For those interested in tracking the progress of bitcoin as a true form of money, an interesting data point to watch is the global Localbitcoins volume. There are a variety of different metrics people use to track the adoption of Bitcoin. Some simply track the bitcoin price in terms of US dollars, while others prefer to watch the number of on-blockchain....
It’s important to remember the part played by over-the-counter (OTC) bitcoin trading platforms like LocalBitcoins — they often reveal interesting things about Bitcoin’s place in the world. LocalBitcoins Volume Getting Higher. Kaiko tracks data from LocalBitcoins as well as all other exchanges, and we’ve compiled all that information into the first....
Just last weekend, LocalBitcoins set its weekly record trading volume. Across disparate regions, there seems to be a unifying trend: volume is increasing on LocalBitcoins. But this has left some wondering: how much of this trading volume is due to fraud? Most of the transactions done on LocalBitcoins are not done via peer-to-peer cash transactions, but instead on transactions based around intermediary financial institutions. Does this mean that more and more people are dealing in bitcoins by depositing money in other individuals accounts? Nonetheless, it appears on LocalBitcoins, at least,....