Venezuela Will Need a Bigger Chart for Its BTC Trading Volume
As its economy descends deeper into chaos, Venezuela has once again broken its own BTC trading volume in the first week of August and will probably need a bigger chart for the months ahead. Venezuela’s Walled Garden of Economic Hell. Venezuela has again set a new bitcoin transaction volume record, which has seen exponential growth since the start of....
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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....
A study revealed a rising trend in bitcoin (btc) volume trading across Latin America amid the coronavirus pandemic and rising inflation, pushing the figures to record highs and putting Venezuela and Colombia at the top of the ranking. Latin America Sees a Bullish Trend in Bitcoin P2P Trading Volume According to Localbitcoins, a peer-to-peer (P2P) bitcoin marketplace, both Venezuela – remaining as the second-largest bitcoin trader globally with 12.3% – and Colombia (11.3%) accounted for over 23% of the total trading volume on the platform during 2020. However, Russia is still....
Trading volume on peer-to-peer exchanges broke another all-time high in most of South America, Russia, and even in the U.S. South America Following Venezuela. According to recent stats, Bitcoin continues to gain popularity presenting itself as a way out from accentuated inflation, demonetization policies and general economic and political uncertainty in troubled countries. Besides Russia (as usual), LocalBitcoins has registered another record week across South America. Countries including Chile, Venezuela, Colombia, and Brazil are all seeing record high trading volumes in their respective....
So far, three Bitcoin exchanges have established themselves in Venezuela. SurBitcoin is by far the biggest, whereas Yabit and Cryptobuyer are relatively new on the scene. Bitcoin remains one of the most popular commodities in all of Venezuela. The country is plagued by hyperinflation, and consumers have very restricted access to financial assets. Bitcoin provides an excellent opportunity to hedge against further inflation of the Bolivar, as well as invest in the future. The month of July has been a particularly good one for Venezuela. The number of transactions per week continues to....
The worsening economic situation in Venezuela which has courted a triple-digit inflation, food, riots, and citizens crossing into Colombia to buy basic necessities seems to favour digital currencies. Bitcoin’s all-time high. According to LocalBitcoins, Bitcoin trading volume in the country hit another all-time high last week of 163,732,154 Bolivars - approximately $16,455,908 according to the official VEF/USD exchange rate of 0.1 - more than double the LocalBitcoin's volume in the USA for the same week, which stood at $7,015,712. Services like Western Union and Moneygram closed operations....