{"id":33095,"date":"2020-12-09T15:00:17","date_gmt":"2020-12-09T13:00:17","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=33095"},"modified":"2025-08-28T12:07:30","modified_gmt":"2025-08-28T09:07:30","slug":"localbitcoins-russia-venezuela-and-colombia-accounted-for-40-of-trades-in-2020","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/localbitcoins-russia-venezuela-and-colombia-accounted-for-40-of-trades-in-2020\/","title":{"rendered":"LocalBitcoins: Russia, Venezuela and Colombia accounted for 40% of trades in 2020"},"content":{"rendered":"<p>The largest volumes of bitcoin trades via the LocalBitcoins p2p trading platform this year were carried out by users from Russia (17.4%), Venezuela (12.3%), and Colombia (11.3%). The data are provided in the company&#8217;s <a href=\"https:\/\/medium.com\/localbitcoins-blog\/these-are-the-biggest-markets-of-localbitcoins-in-2020-6ef07bf3f4c8\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">blog<\/a>.<\/p>\n<p>Latin American leadership on LocalBitcoins is explained by high inflation and residents&#8217; desire to preserve savings; Russia by capital controls and tight regulation.<\/p>\n<p>The United Kingdom (6.3%) and Nigeria (5%) occupied the fourth and fifth spots. Argentina, Chile and Brazil were also active, countries facing high economic uncertainty due to the COVID-19 pandemic.<\/p>\n<div id=\"attachment_119129\" style=\"width: 849px\" class=\"wp-caption alignnone\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-119129\" class=\"size-full wp-image-119129\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/1_-RKZNHrR0-jWHuqyIxgFYQ.png\" alt=\"LocalBitcoins: \u0432 2020 \u0433\u043e\u0434\u0443 \u043d\u0430 \u0420\u043e\u0441\u0441\u0438\u044e, \u0412\u0435\u043d\u0435\u0441\u0443\u044d\u043b\u0443 \u0438 \u041a\u043e\u043b\u0443\u043c\u0431\u0438\u044e \u043f\u0440\u0438\u0448\u043b\u043e\u0441\u044c 40% \u0442\u043e\u0440\u0433\u043e\u0432\" width=\"839\" height=\"463\" srcset=\"https:\/\/forklog.com\/wp-content\/uploads\/1_-RKZNHrR0-jWHuqyIxgFYQ.png 839w, https:\/\/forklog.com\/wp-content\/uploads\/1_-RKZNHrR0-jWHuqyIxgFYQ-300x166.png 300w, https:\/\/forklog.com\/wp-content\/uploads\/1_-RKZNHrR0-jWHuqyIxgFYQ-768x424.png 768w\" sizes=\"auto, (max-width: 839px) 100vw, 839px\" \/><\/p>\n<p id=\"caption-attachment-119129\" class=\"wp-caption-text\">Data: LocalBitcoins.<\/p>\n<\/div>\n<p>The activity of citizens in a country is closely linked to its position on the <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2020-08-06\/misery-ranking-will-show-u-s-getting-worse-versus-rest-of-world\" target=\"_blank\" rel=\"noopener noreferrer\">Bloomberg<\/a> Misery Index, calculated based on unemployment and inflation. The metric puts Turkey in the top five, its citizens showing heightened interest in bitcoin amid the depreciation of the local lira.<\/p>\n<div id=\"attachment_119130\" style=\"width: 786px\" class=\"wp-caption alignnone\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-119130\" class=\"size-full wp-image-119130\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/misery-2020.jpg\" alt=\"LocalBitcoins: \u0432 2020 \u0433\u043e\u0434\u0443 \u043d\u0430 \u0420\u043e\u0441\u0441\u0438\u044e, \u0412\u0435\u043d\u0435\u0441\u0443\u044d\u043b\u0443 \u0438 \u041a\u043e\u043b\u0443\u043c\u0431\u0438\u044e \u043f\u0440\u0438\u0448\u043b\u043e\u0441\u044c 40% \u0442\u043e\u0440\u0433\u043e\u0432\" width=\"776\" height=\"547\" srcset=\"https:\/\/forklog.com\/wp-content\/uploads\/misery-2020.jpg 776w, https:\/\/forklog.com\/wp-content\/uploads\/misery-2020-300x211.jpg 300w, https:\/\/forklog.com\/wp-content\/uploads\/misery-2020-768x541.jpg 768w\" sizes=\"auto, (max-width: 776px) 100vw, 776px\" \/><\/p>\n<p id=\"caption-attachment-119130\" class=\"wp-caption-text\">Data: Bloomberg.<\/p>\n<\/div>\n<p>In September, the competing P2P platform for bitcoin trading <a href=\"https:\/\/forklog.com\/en\/news\/paxful-p2p-platform-ceases-operations-in-venezuela\">Paxful<\/a> announced the termination of service for customers from Venezuela due to tightening US sanctions.<\/p>\n<p>In October, Arcane Research noted <a href=\"https:\/\/forklog.com\/en\/news\/arcane-research-growth-in-p2p-transactions-signals-bitcoin-adoption-on-a-global-scale\">growth in P2P bitcoin transaction volumes<\/a> as evidence of demand for the world&#8217;s first cryptocurrency.<\/p>\n<p>Subscribe to ForkLog news on <a href=\"https:\/\/twitter.com\/ForkLog\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Twitter<\/a>!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The largest volumes of bitcoin trades via the LocalBitcoins p2p trading platform this year were carried out by users from Russia (17.4%), Venezuela (12.3%), and Colombia (11.3%). The data are provided in the company&#8217;s blog.<\/p>\n","protected":false},"author":1,"featured_media":33096,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[534,455,27,1240],"class_list":["post-33095","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-localbitcoins","tag-p2p","tag-russia","tag-venezuela-cryptocurrency-market"],"aioseo_notices":[],"amp_enabled":true,"views":"20","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/33095","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=33095"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/33095\/revisions"}],"predecessor-version":[{"id":33097,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/33095\/revisions\/33097"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/33096"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=33095"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=33095"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=33095"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}