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Russia is the leader in BTC trading volume on LocalBitcoins

Russia is the leader in BTC trading volume on LocalBitcoins

Russian users have been making the most transactions with bitcoin on the LocalBitcoins P2P platform for two months in a row.

According to data
CryptoDiffer, Russia accounted for 19% of the total BTC trading volume on LocalBitcoins in may – more than Venezuela and the United States, where 11% and 10% of transactions with bitcoin were conducted, respectively. According to the company, the total volume of BTC trades on LocalBitcoins in may 2020 was 17,867 BTC.

The Analytics provided by CryptoDiffer match the data from CoinDance. According to Can Dance, the weekly volume of BTC transactions made by Russian users on LocalBitcoins averaged about 800 BTC in may 2020. At the same time, users from Venezuela and the United States on average carried out transactions for 400 BTC per week during the same month.

A spokesperson for LocalBitcoins confirmed that the Russian market has become one of the leading markets on the platform. Referring to an internal LocalBitcoins report, he noted that Russia accounted for 17.9% of the total bitcoin trading volume on the platform in may 2020.

According to him, LocalBitcoins has been providing services for trading bitcoin against the Russian ruble since 2013, and the Russian market remains one of the most important markets on the platform. The press Secretary also spoke about the controversial regulation of cryptocurrencies, which is now being considered
Russian lawmakers, and said:

“We are monitoring the legal situation in Russia and hope that Russians will continue to have access to bitcoin and its benefits.”

Recall that in March, a General decline was reported
the volume of trading on LocalBitcoins reached a seven-year low, and at the beginning of the year, the platform limited
access for users from multiple countries.V