Russia and Venezuela top November trading volumes at LocalBitcoins


Not only residents of Venezuela are actively using the LocalBitcoins platform to acquire bitcoins. In November, Russia unexpectedly became the leader in investment in BTC through this service.

She led the ranking of states whose citizens use LocalBitcoins most to purchase cryptocurrency. According to CryptoDiffer, Russian citizens made transactions with 4335 bitcoins, which is 27% of the total turnover on the platform.

The top three also included Venezuela and the United States, which accounted for 14% and 10% of transactions with BTC in November. Colombia, Great Britain, China, Nigeria, India, South Africa and Peru also entered the top ten.

However, if we take the data on bitcoin transactions per person as a reference point, it was found that Venezuela was again the leader . In this country, one citizen, on average, performs an operation with 0.00006 BTC ($ 0.6). Russia and Colombia took second and third places respectively (0.00003 BTC and 0.00002 BTC).

Some observers believe that the most active users of LocalBitcoins are Russian companies. They use cryptocurrency to circumvent Western economic sanctions.

In addition, they are starting to use cryptocurrency to withdraw capital from Russia, so that suspicious transactions are not noticed by the Central Bank and Rosfinmonitoring.

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