Which countries or currencies do not have their own bitcoin exchange yet ?

[thejaytiesto]

Unfortunately, I dont think we'll ever see North Korea accepting BTC. To think all of those poor people will die without even knowing that cryptocurrencies are, among a lot of other things. Its pretty depressing.

[desired_username]

Hungary, Croatia and other smaller eastern european nations.

Mind these usually have very limited/expensive banking systems and low bitcoin awareness.

[Jimmy Wales]

Hungary, Croatia and other smaller eastern european nations.

Mind these usually have very limited/expensive banking systems and low bitcoin awareness.

Are not they part of the Euro zone ?

[Hazir]

Hungary, Croatia and other smaller eastern european nations.

Mind these usually have very limited/expensive banking systems and low bitcoin awareness.

That is exactly the reason countries like these should have bitcoin exchanges in the first place: to fight bloated banking systems and to show people that there is other way and they don't have to comply with banks ridiculous fees. As far I know exchange doesn't need to be based physically in some certain country for it to be fully operational. There might be exchanges, and probably are in neighboring countries.

[desired_username]

Hungary, Croatia and other smaller eastern european nations.

Mind these usually have very limited/expensive banking systems and low bitcoin awareness.

Are not they part of the Euro zone ?

They have their own currencies/banking.

[3x2]

Majority of the countries do not have BTC exchange in their own currency.

[RocketSingh]

Majority of the countries do not have BTC exchange in their own currency.

Care to share a list of those ? Please note that Majority of Europe is already covered as they accept EUR.

[dothebeats]

Here in the Philippines, we do have an exchange called coins.ph. In buying and selling bitcoins, the exchange doesn't require any personal information to be submitted first before proceeding in making transactions, though they implement a certain limit for an account that isn't verified and hasn't submitted any personal information. All in all, it still is a pretty good bitcoin exchange for me, and I've been using their service for almost a year now, and not even a single hassle or delayed throughout my experience in using them.

[Lorenzo]

North Korea for sure.

Also all those small countries that no one remembers, like Nepal or Mongolia.

And of course countries where BTC is forbidden, like Ecuador

Nepal's population is actually almost the same size as Canada's.

And if you're going to include small countries, then there are many small island countries in the Pacific too which almost certainly don't have their own Bitcoin exchanges. e.g. Papua New Guinea, Tuvalu, Kiribati, Niue, Solomon Islands, Fiji, Samoa, Tonga, Vanuatu, etc.

Unfortunately, I dont think we'll ever see North Korea accepting BTC. To think all of those poor people will die without even knowing that cryptocurrencies are, among a lot of other things. Its pretty depressing.

Cryptocurrencies, probably not. But I wouldn't be surprised if they find some other uses for the blockchain. They have computers, mobile phones, and even their own miniature version of the Internet. And it's possible that their currently restrictive policies could change in the future in the same way China, East Germany, Vietnam, and the Soviet Union changed theirs over time.

Centralized exchanges are dangerous, localbitcoins is the way forward. In certain countries, you can even use 3rd party mobile payment to trade with private people on localbitcoins and have instant delivery, much faster than an exchange which takes days to deposit.  And once you know how to use localbitcoins, you can use it in any country. However, they should change to multisig to increase their security, they have also been hacked before

The interesting thing is there are now alternatives of LocalBitcoins as well. These are www.BitQuick.co & www.100bit.co.in. Though it seems BitQuick.co is US only and have a few division elsewhere, 100bit.co.in is a truly global platform for direct traders.

Interesting, although I would guess that they all suffer the same problem that eBay clones have vs. eBay. LocalBitcoins has the most buyers and sellers so people will naturally gravitate towards it over its rivals. This in turn makes LocalBitcoins even more attractive for buyers and sellers and thus even more popular and so more people will use it in a kind of positive feedback loop. Dethroning LocalBitcoins as the #1 OTC exchange won't be easy and the two companies you listed will probably face an uphill battle.

Also, BitQuick.co gives me an "Unable to select database!" error.

EDIT: Nevermind, it's working again.

[SpanishSoldier]

North Korea for sure.

Also all those small countries that no one remembers, like Nepal or Mongolia.

And of course countries where BTC is forbidden, like Ecuador

Nepal's population is actually almost the same size as Canada's.

Nepal is also highly dependent on remittance as huge number of Nepalese works outside of the country.

[Lauda]

Hungary, Croatia and other smaller eastern european nations.
Mind these usually have very limited/expensive banking systems and low bitcoin awareness.

Are not they part of the Euro zone ?

They have their own currencies/banking.

Bosnia, Serbia, Montenegro and such? I believe that they barely know about Bitcoin. The banks probably know, but the government not so much.
I guess when a country is messed up in some other perspectives, legalizing a digital currency is not an important task at the moment. I'm not sure if it is better to focus on the more developed countries?
These have potential, just as Africa could skip the banking sector.

[avatar_kiyoshi]

Is there any exchange in India?

Looking on Google and I found this: https://btcxindia.com

[100bitcoin]

Centralized exchanges are dangerous, localbitcoins is the way forward. In certain countries, you can even use 3rd party mobile payment to trade with private people on localbitcoins and have instant delivery, much faster than an exchange which takes days to deposit.  And once you know how to use localbitcoins, you can use it in any country. However, they should change to multisig to increase their security, they have also been hacked before

The interesting thing is there are now alternatives of LocalBitcoins as well. These are www.BitQuick.co & www.100bit.co.in. Though it seems BitQuick.co is US only and have a few division elsewhere, 100bit.co.in is a truly global platform for direct traders.

Interesting, although I would guess that they all suffer the same problem that eBay clones have vs. eBay. LocalBitcoins has the most buyers and sellers so people will naturally gravitate towards it over its rivals. This in turn makes LocalBitcoins even more attractive for buyers and sellers and thus even more popular and so more people will use it in a kind of positive feedback loop. Dethroning LocalBitcoins as the #1 OTC exchange won't be easy and the two companies you listed will probably face an uphill battle.

Happy to take up the uphill battle.

- Team www.100bit.co.in

[3x2]

Majority of the countries do not have BTC exchange in their own currency.

Care to share a list of those ? Please note that Majority of Europe is already covered as they accept EUR.

Not sure but majority of African Countries, South American and huge part of Asia.

[WhatTheGox]

Well technically the UK doesnt despite several exchanges beng based here banking wires are sent outside the country as SEPA.  Local bitcoins is everywhere so that cant count.

[safetybitcoin]

My country has an exchange. But it is not acceptable to the government, and It is still active, but the sale are not protected by law.
https://www.bitcoinvietnam.com.vn/

[Bizmark13]

Any exchange in Belarus, Macedonia, Montenegro, Georgia, Moldova, Armenia? I'd say most African countries don't have any exchange, then, there's Asia.

I think those countries (the African ones) need remittance companies most. They act as a kind of exchange, actually. But I agree that Africa seems to be a huge (mostly) untapped potential market.

African nations first need to be educated enough to use the internet/smart phone in general. Bitcoin comes later...

Fortunately, because of Moore's law and various other factors, it won't be long before even the poorest people living in the poorest countries have access to smartphones and the Internet. It's already happening now with sub-$30 Android smartphones, and the trend will undoubtedly continue in the future.

Any exchange in Belarus, Macedonia, Montenegro, Georgia, Moldova, Armenia? I'd say most African countries don't have any exchange, then, there's Asia.

I think those countries (the African ones) need remittance companies most. They act as a kind of exchange, actually. But I agree that Africa seems to be a huge (mostly) untapped potential market.

some country there have plenty of rich guys due to ptetroil, but apparently they aren't using it well, they just sit there and get richer...

i mean they coul build plenty of bitcoin exchange without problem

Those types of countries tend to have large income and wealth disparities. Not to mention the oil industry tends to favor the USD. So the total number of people who might be interested in Bitcoin might not be as high as you'd think.

North Korea for sure.

Also all those small countries that no one remembers, like Nepal or Mongolia.

And of course countries where BTC is forbidden, like Ecuador

Mongolia does not have a BTC exchange ? Really ? I heard FriedCat set up a mining firm over there. So, I guess they have some local buyer so that mining firm bills could be paid in local currency.

It's also possible that friedcat exchanged his coins to USD and then converted the USD to the local currency.

Not sure if here in Australia we have a legit one?

I'd be surprised if Australia doesn't have an exchange yet seeing as though New Zealand already has at least three (and possibly more):

http://www.bitnz.com/
http://www.buybitcoin.co.nz/
http://www.coined.co.nz/

Well technically the UK doesnt despite several exchanges beng based here banking wires are sent outside the country as SEPA.  Local bitcoins is everywhere so that cant count.

I once used an exchange called Indacoin that was based in the UK. The SEPA stuff is very interesting although I don't think it disqualifies the UK from being a country that has its own exchange. If it's based there and can be used by their citizens then as far as I'm concerned, they have an exchange.

[BTC_Superman]

Most of the Asian countries do not have their own Bitcoin exchange yet.

[RocketSingh]

Not sure if here in Australia we have a legit one?

I'd be surprised if Australia doesn't have an exchange yet seeing as though New Zealand already has at least three (and possibly more):

http://www.bitnz.com/
http://www.buybitcoin.co.nz/
http://www.coined.co.nz/

AFAIK, independentreserve.com is the exchange serving Australia.

[SpanishSoldier]

Most of the Asian countries do not have their own Bitcoin exchange yet.

Main reason of this is the internet penetration is far lower in Asian countries. Hence they are less enthusiastic about bitcoin as it is heavily dependent on the internet. But, some Asian countries still have their exchanges catering low volume.