It has been a very interesting year for the cryptocurrency industry so far. Albeit there is still some uncertainty in terms of price movement, it seems Bitcoin has become a lot more popular once again. The following countries all note an increasing demand for Bitcoin, primarily through the LocalBitcoins platform. It is a great solution to gain exposure to the world’s leading cryptocurrency.
Argentina is on a Tear
South American countries tend to show a keen demand for Bitcoin all year long. In the case of Argentina, that demand was relatively low until early 2017. Despite falling off again in 2018, the overall uptrend has continued this year. In recent weeks, new records in terms of trading volume have been recorded, as the 11.2 million Peso level has been surpassed successfully. A notable increase compared to a few weeks ago, and it will be interesting to see how high the overall volume can get if this price increase continues.
Colombia Creates a new Peak
Another South American country facing some financial hardship comes in the form of Colombia. It is a pretty interesting country for many different reasons, although it also shows a growing demand for Bitcoin over the past year and a half. Similar to Argentina, it seems the demand had fallen a bit throughout 2018, but the LocalBitcoins volume is picking up once again. With over 10 billion Colombian Peso in weekly trades, the market looks healthier than it ever has.
Kazakhstan is Good Bitcoin Country
While not too much seems to happen in Kazakhstan when it comes to Bitcoin and other cryptocurrencies, the demand for this new form of money is certainly present. According to the LocalBitcoins volume charts, the demand for Bitcoin in this country has begun spiking again in recent months. The average Kazakhstani Tenge volume has now surpassed 50 million, which is a more than respectable figure, all things considered. It is odd to see this country note such growth, whereas its neighboring countries all remain relatively flat where LocalBitcoins volume is concerned.
Peru has an Insatiable Demand for Bitcoin
One would not necessarily expect it, but Peruvians have shown a very genuine interest in Bitcoin throughout 2018 and 2018. It seems the lower Bitcoin prices have sparked a lot more trading volume on LocalBitcoins, albeit there could be other factors at play as well. With the weekly trading volume setting a new all-time high this month, it would appear local traders firmly expect the value of Bitcoin to surge in the months ahead. Converting the Peruvian Sol to Bitcoin through LocalBitcoins is something plenty of users engage in these days.
South Korea is Pushing Hard
Most cryptocurrency users know all too well South Korea has become a genuine powerhouse in terms of Bitcoin trading lately. As such, it is not too surprising to see the country’s demand for Bitcoin is still increasing. LocalBitcoins has never been too popular in this country, albeit things have definitely improved throughout 2019. This month, a new all-time high KRW trading volume was noted on LocalBitcoins, as 218 million Korean Won worth of BTC changed hands. Very impressive numbers, especially given the broad access to more mainstream exchange solutions in the country.
Venezuela Continues to Impress
Given all of the financial concerns in Venezuela these days, it would be more surprising if users did not show demand for Bitcoin or other cryptocurrencies. Through LocalBitcoins, it seems plenty of people are converting their Venezuelan Bolivar to and from Bitcoin these days. A few weeks ago, that volume surpassed 40.9 billion Bolivar for the very first time. An interesting turn of events, especially when considering how the country has its own Petro cryptocurrency. That particular project is still subjected to a lot of scrutiny these days, however.
Disclaimer: This is not trading or investment advice. The above article is for entertainment and education purposes only. Please do your own research before purchasing or investing into any cryptocurrency or digital currency.
