Punching above their weight with Bitcoin!

LocalBitcoins, an over-the-counter exchange platform, is revealing very interesting data on where Bitcoin is getting much interest and adoption from various populations. Trading Bitcoin volume continues to increase with more media exposure, education plus consumer and investor adoption. Bitcoin trading can give good returns if you keep your eye on the price movement in this dynamic market… the Localbitcoins platform gives everyday people the chance to try their hand at trading.  But remember, watch those prices!

Here is an excerpt from the article

“Trading Bitcoin on the Street: How’s Localbitcoins doing in 2016?

Given the size of their populations and economies, the two countries punching above their weight in LocalBitcoins trading are South Africa and Australia, which have each had as much as 7.5% share of the market at some times in our reporting period.

What makes bitcoin trading so popular in two of the Southern Hemisphere’s largest economies?

The Chinese renminbi (CNY) is under-represented on LocalBitcoins considering the amount of bitcoin mining and trading that goes on there, though Chinese residents have access to several high-volume exchanges and also use other, China-only OTC platforms to trade off-exchange.

In summary, the Top 10 fiat currencies on LocalBitcoins in the last week of May were: USD (44.4%), RUR (19.6%), GBP (15.6%), EUR (5.4%), AUD (4.7%), SAR (3.8%), CNY (2.2%) Swedish Krona (2.1%) Thai Baht (1.2%) and Canadian dollar (1.1%).”

Here is a recording of a discussion with a South African trader

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