Despite a falling Bitcoin (BTC) price having triggered a widespread devaluation for basically all cryptocurrencies, trading volumes on peer-to-peer (P2P) Bitcoin trading platforms – namely LocalBitcoins and Paxful – are seeing record highs, particularly in countries located in the Americas. LocalBitcoins With More All-Time HighsPer newly published data retrieved from Coin.dance, LocalBitcoins – the world’s most popular platform to execute peer-to-peer Bitcoin exchanges on – has experienced recent record-breaking weekly trading volumes in each of Peru, Chile, Venezuela, and Canada. Of the three South American nations, Venezuela is the one that continues to set new weekly trading volume records, having done so for each of the past five weeks. For the week ending June 9th, 7.6 million Venezuelan bolívar (Bs) was exchanged for Bitcoin; nearly double that of four weeks prior. Worth noting, however, is that Bs has been suffering from unprecedented rates of hyperinflation. More genuine growth on LocalBitcoins seems to have been experienced in Peru, with weekly Bitcoin trading volumes having produced all-time highs – when measured against both BTC (106) and Peruvian sol (over 2.7 million, or, ~$US830,000) – for the week ending May 26th. Chile has been the other South American country that LocalBitcoins has thrived in recently. Earlier last month, the most Chilean pesos (over 234 million, or, ~$US370,000) were exchanged for BTC in one week than ever before. Up north in Canada, the week ending May 19th saw record LocalBitcoins trading volumes when paired against both BTC (1,265) and the Canadian dollar (over 12 million). Paxful Proving PopularAs for the second most used P2P Bitcoin trading platform, Paxful has seen its customers in Sweden and the U.S. transact with one another at (or near) record totals. For Sweden, the week ending June 9th marked the second most Swedish kronor traded (22,700); with the third most having occurred on the week ending May 19th. As for the U.S. Paxful market, a new record was set for the week ending June 2nd, with almost $US17.8 million having changed hands. Interestingly, the past six weeks now account for Paxful’s six highest volumes recorded by their U.S. customers. Privacy a Priority for P2P TradersWhilst LocalBitcoins.com is by far the most established P2P Bitcoin exchange, Paxful has achieved significant growth over the course of 2018; tracking at near-record weekly volumes (USD). All this has transpired whilst LocalBitcoins’ weekly volume has continued to decline. The reason behind these opposing trends is likely (at least in part) due to LocalBitcoins’ recent decision to start requiring Know Your Customer (KYC) details from customers deemed to be using their services on a frequent basis. Previously, the anonymity that came with using LocalBitcoins represented a key drawcard versus centralized exchanges like Huobi Pro or Binance. Having not yet enforced such KYC requirements, Paxful (and to a lesser extent, Bisq) seem to have benefitted from their competitor’s unpopular policy change. Image From Shutterstock Read More Records Aplenty for Bitcoin (BTC) Trading Volumes on LocalBitcoins and Paxful : https://ift.tt/2sVX2RNPartner By desimpul.blogspot.com The materials on Desimpul's website are provided on an 'as is' basis. Desimpul makes no warranties, expressed or implied, and hereby disclaims and negates all other warranties including, without limitation, implied warranties or conditions of merchantability, fitness for a particular purpose, or non-infringement of intellectual property or other violation of rights. Further, Desimpul does not warrant or make any representations concerning the accuracy, likely results, or reliability of the use of the materials on its website or otherwise relating to such materials or on any sites linked to this site. In no event shall Desimpul or its suppliers be liable for any damages (including, without limitation, damages for loss of data or profit, or due to business interruption) arising out of the use or inability to use the materials on Desimpul's website, even if Desimpul or a Desimpul authorized representative has been notified orally or in writing of the possibility of such damage. Because some jurisdictions do not allow limitations on implied warranties, or limitations of liability for consequential or incidental damages, these limitations may not apply to you. Accuracy of materials The materials appearing on Desimpul's website could include technical, typographical, or photographic errors. Desimpul does not warrant that any of the materials on its website are accurate, complete or current. Desimpul may make changes to the materials contained on its website at any time without notice. However Desimpul does not make any commitment to update the materials. Links Desimpul has not reviewed all of the sites linked to its website and is not responsible for the contents of any such linked site. The inclusion of any link does not imply endorsement by Desimpul of the site. Use of any such linked website is at the user's own risk. Modifications Desimpul may revise these terms of service for its website at any time without notice. By using this website you are agreeing to be bound by the then current version of these terms of service.
0 Comments
Leave a Reply. |