Why Europe participates "little" in Bitcoin?

[iq_armando]

Seeing a graph of the volume of BTC Volume by Currency

And at the moment The euros only participate in a 3.24% of the volume very similar to the Chinese yuan of 3.21%

In my opinion, the volume managed by Europe is small compared to the US dollars, 25.04% and the Japanese yen 57.36%.

given that it seems that in Europe the bitcoin is better accepted than even the US.

Is it because they are more stable countries and trust in their currency the euro that will not devalue much, or do not trust the BTC so much?

in fact the pound of England does not appear, it is included in others.

[flippener]

I'm in England and I think here people are only just starting to learn about bitcoin - we're behind other regions in that respect.

[gentlemand]

There's European action but for whatever reason Bitstamp, the biggest EU exchange, chooses to do the majority of its business in dollars. Kraken's the only really big EUR market and that's American. I assume they chose it for ease of banking. Kraken's hopeless so their volume must be falling.

All the other EUR pairings on big exchanges seem to be microscopic. You'd think BTC-e's would've been huge but it was dwarfed by their USD business.

People will go where the volume is so if it isn't EUR then they'll convert even if they are in the EU.

Outside of Kraken the biggest EUR markets would probably be Bitcoin.de and maybe bitcoinic. Neither of them are exchanges so they won't show up.

And there's no GBP exchange with decent banking. GBP has to be wired to Europe.

[NewBet]

It does not matter if Europe is lagging behind with crypto at the moment. Over time every country in the world will be involved, including all of those in Europe. And they will have no choice to accept it, because it is the future.

[mylalaworld]

Probably because they have so many other asset classes to look into and awareness.
Not everyone knows exactly what this is

[BrewMaster]

i believe it is mostly because USD is more of a global currency than EUR is. if you look around most things are measured versus USD. we even report bitcoin price is USD all over the news. there is only one big exchange with EUR that i know of and it is Kraken. other big ones such as bitfinex and bitstamp and coinbase and gemeni all have USD.

as for Japan volume, it is partly because of zero fees in some of their exchanges and partly because bitcoin is on the way to mass adoption over there.

[Juggy777]

Seeing a graph of the volume of BTC Volume by Currency

And at the moment The euros only participate in a 3.24% of the volume very similar to the Chinese yuan of 3.21%

In my opinion, the volume managed by Europe is small compared to the US dollars, 25.04% and the Japanese yen 57.36%.

given that it seems that in Europe the bitcoin is better accepted than even the US.

Is it because they are more stable countries and trust in their currency the euro that will not devalue much, or do not trust the BTC so much?

in fact the pound of England does not appear, it is included in others.

I don't think this graph is showing a true pic, that I feel, cause most of the times, we trade only in dollars rather other currencies, even i was at a believe, that it could be traded only in usd before. I was informed later on even other currencies were good but then 100% of trades are often done using usd. So I feel even if people are trading in euro, they may be doing it in usd so that graphics is wrong.

[aoluain]

im not surprised about the euro trading but what really stands out
from the pie-chart is Japans volume which is massive and in contrast
Chinas which is similar to Euro, I thought China was a bit of a
powerhouse with Bitcoin? are they using Dollar trading?

Juggy777 may be right with his analysis, the chart may not be
depicting the correct breakdown

[gentlemand]

im not surprised about the euro trading but what really stands out
from the pie-chart is Japans volume which is massive

Just like China used to be, much of Japanese volume is zero fee so it's basically completely meaningless. It could be the same coin being sold and bought one million times per day.

Chinese volume looked similarly huge when it was zero fee. When it switched to fees it looked pathetic and about the same as other backwaters.

[Isaac 999]

Because you can find many services allowed in euro (most money services) so that bitcoin hard to take place in there Because trans time  

[onrise]

Because you can find many services allowed in euro (most money services) so that bitcoin hard to take place in there Because trans time  

This is possible that due to bitcoin becoming very high cost and transaction time and fees is also high due to which people might be switching to other cypto currency and may have manifold returns in coming time so people might be investing such coins rather than buying btc.

[Don Pedro Dinero]

Seeing a graph of the volume of BTC Volume by Currency

And at the moment The euros only participate in a 3.24% of the volume very similar to the Chinese yuan of 3.21%

In my opinion, the volume managed by Europe is small compared to the US dollars, 25.04% and the Japanese yen 57.36%.

given that it seems that in Europe the bitcoin is better accepted than even the US.

Is it because they are more stable countries and trust in their currency the euro that will not devalue much, or do not trust the BTC so much?

in fact the pound of England does not appear, it is included in others.

Because “Europe”, as you call it, is not a whole. When you talk about Europe you actually mean countries which have the Euro as currency. Some of them are more bitcoin-friendly but most of them don’t.

I don’t see why you say that European countries are more stable than the US. Greece, Spain, or Italy are more stable than the US? I don’t think so. The European Central Bank has as a core mission to control inflation so, in theory, currency should not be devaluated much but in practice when problems arise it can be devaluated as much as needed.

For me it’s not surprising the volume of btc-Euro trading.

[franky1]

the real reason is simple.. UK / Euro wire transfers are instant and free.. bitcoin isnt
so the features of bitcoin as a payment method didnt excite people because they could move money without bitcoin, easier than with bitcoin

now people only think of bitcoin for investment purposes, not payment/remit purposes

[ahmad21]

Seeing a graph of the volume of BTC Volume by Currency

And at the moment The euros only participate in a 3.24% of the volume very similar to the Chinese yuan of 3.21%

In my opinion, the volume managed by Europe is small compared to the US dollars, 25.04% and the Japanese yen 57.36%.

given that it seems that in Europe the bitcoin is better accepted than even the US.

Is it because they are more stable countries and trust in their currency the euro that will not devalue much, or do not trust the BTC so much?

in fact the pound of England does not appear, it is included in others.

Its because people of europe are slowly learning about bitcoins. Even here in India and countries like australia bitcoin exchanging in respective local currencies is quite low. Reason is lack of awareness only. There is no such fiat that could compete bitcoin.

[ajqjjj]

the real reason is simple.. UK / Euro wire transfers are instant and free.. bitcoin isnt
so the features of bitcoin as a payment method didnt excite people because they could move money without bitcoin, easier than with bitcoin

now people only think of bitcoin for investment purposes, not payment/remit purposes

It is a wrong need bitcoin is not widely used by Westerners. You please the moderators most of the investors and whales in bitcoims are them only. Asian and others are countable when compare with them.
Cost in fees and in asset sense bitcoin is only best any payment mode dude.

[aisyah88]

maybe European countries do not know about bitcoin .. so little knowledge about bitcoin .. but with over time they will understand the benefits of playing bitcoin .. and semiga course more and more enthusiasts who want to play bitcoin in other european countries da will continue worldwide ...hopefully

[Krikke]

Europe in general has been slower in adopting new technologies compared to US and Asia. Europe will follow, but don't expect it to be a front-runner. European people in general are risk averse, but time will overcome this and make the Europeans also understand the benefits of Bitcoin

[pikebu]

maybe European countries do not know about bitcoin .. so little knowledge about bitcoin .. but with over time they will understand the benefits of playing bitcoin .. and semiga course more and more enthusiasts who want to play bitcoin in other european countries da will continue worldwide ...hopefully

Yes they are learning more about the bitcoin, is it currency or is it an asset, they are making sure about it, i don't think they will consider bitcoin as a games, it is instrument of investment or a currency. They won't be addoption if the bitcoin is just a games more than it, bitcoin is new revolution in currency on the internet, to learn about the technology behind the bitcoin will needs much time, so gives them the time to addopt the bitcoin.

[kenkoy]

I think Europe is gearing positively towards Bitcoin legality. However, each countries  have different views and actions on cryptocuurency. They are lacking united decisions on Bitcoin legalith, though majority of these countries have widely accepted Bitcoin as a currency.

Here is the link: https://atozforex.com/news/top-countries-where-bitcoin-is-legal/