Which country trades the most bitcoin

[najdovski]

Searching the web, looking for bitcoin news, I found an interesting infographic that shows "Which country trades the most bitcoin".
The first 3 countries were predictable, but Venezuela? I would never guess.
https://irishtechnews.ie/wp-content/uploads/2018/08/d173cec0-1d09-4b58-be12-d8a6198c7f34-14-1.jpg

[hykenz]

https://totalcrypto.io/wp-content/uploads/2018/08/d173cec0-1d09-4b58-be12-d8a6198c7f34-14-1.png

[wtbhitlv]

I'm sure the most traded country is China. After the ban was issued in September last year, many exchanges dealing with Chinese customers moved to other countries, but the customers were still Chinese. China also dominated the mining business. More than 70% of Bitcoins were mined in China.

[stompix]

Searching the web, looking for bitcoin news, I found an interesting infographic that shows "Which country trades the most bitcoin".
The first 3 countries were predictable, but Venezuela? I would never guess.

Quated for the picture.

It's because localbitcoins reports the price in usd at the official rate bolivar/usd.
In reality, the volume far is smaller

Switching the chart from BTC to bolivars you will see the difference.

Besides, that's data only for lcoabitcoins, most people in the EU and US don't use local bitcoins but exchanges...to which Venezuelans have no access.

[brotherwood12]

china for sure before the banning , but after that the bitcoin alocation was buying by people /  investor at argentina and surrounding there

[BrewMaster]

china for sure before the banning , but after that the bitcoin alocation was buying by people /  investor at argentina and surrounding there

well China didn't ban bitcoin trading, they banned their exchanges from working. that indeed damaged the volume that was going in bitcoin but it  didn't stop it. those who wanted to buy bitcoin has been doing it elsewhere on different exchanges which doesn't show up on stats like this.

[sakahayang]

I think the biggest market for bitcoin is China, because hearing the news that prices cannot rise to the month is the Chinese market that dominates the world market. But unexpectedly the biggest transaction is in the United States. wkwkwk

[Jansaa]

China, where the bitcoin used most investment, For the reasons:
 + Chinese people are too big
 + Many projects are developed and built here
 + Many other reasons:

[ranman09]

I'm glad that bitcoin is still traded and is worth 1.44 billion in the number 1 country in the world USA. Although the legal standpoint of it became strict and the country became strict.

Shows that despite government movement, still bitcoin remain and will remain.

[bob123]

I'm glad that bitcoin is still traded and is worth 1.44 billion in the number 1 country in the world USA.

Note, that the 1.44 billion $ is the trading volume from USA on localbitcoins.
This is - by far - not the overall trading volume.

You can view the daily volume here: https://data.bitcoinity.org/markets/volume/30d.
Yesterday, within 24 hours, about 160k BTC were traded (about 1.031.200.000 $ with 1 BTC being worth 6445$).

Localbitcoins trading volume is relatively small compared to those from centralized exchanges.

[vnudelll]

I think China and the US will be the two most traded nations. And I was really surprised when China was ranked fifth.

[Kprawn]

You cannot use one data source and extrapolate an assumption that it is giving the total volume of all trades that are done in

these countries. A lot of these countries might have less "legit" exchanges and then they turn to sites like Localbitcoin to do

these trades. The picture will look a lot different, if you can add the trade volume from regulated exchanges and even some

of the trading being done on the decentralized exchanges. 

[pxo1106]

Searching the web, looking for bitcoin news, I found an interesting infographic that shows "Which country trades the most bitcoin".
The first 3 countries were predictable, but Venezuela? I would never guess.
https://irishtechnews.ie/wp-content/uploads/2018/08/d173cec0-1d09-4b58-be12-d8a6198c7f34-14-1.jpg

One of the country I think would be the US that would greatly be making the market of cryptos and bitcoin. It must be noted that this country will develop the whole improvement of this blockchain and most definitely they would be the ones introducing and making a profit on such.

[indoagung88]

as far as I know, China is trading the most bitcoin, and even then before there is a prohibition rule there. on the one hand I conclude that bitcoin is still a trade. that means bitcoin is still popular all the time.

[Cecilve]

Searching the web, looking for bitcoin news, I found an interesting infographic that shows "Which country trades the most bitcoin".
The first 3 countries were predictable, but Venezuela? I would never guess.
https://irishtechnews.ie/wp-content/uploads/2018/08/d173cec0-1d09-4b58-be12-d8a6198c7f34-14-1.jpg

Venezuela has one of the lowest electricity prices so that may be a reason they trade so much Bitcoin right now. Mining BTC there costs about 3000$ whereas in EU it costs over 6k.

[giantrobot]

China has too many advantages to become the country with the most Bitcoin deals. This is a populous country, with many successful people here, such as Shanghai City, many of the projects are developed here, there are lots of works and great machines that help the transaction. Bitcoin is easy. And there are many other minor factors.

[Gururapyco]

Searching the web, looking for bitcoin news, I found an interesting infographic that shows "Which country trades the most bitcoin".
The first 3 countries were predictable, but Venezuela? I would never guess.
https://irishtechnews.ie/wp-content/uploads/2018/08/d173cec0-1d09-4b58-be12-d8a6198c7f34-14-1.jpg

Quated for the picture.

It's because localbitcoins reports the price in usd at the official rate bolivar/usd.
In reality, the volume far is smaller

Switching the chart from BTC to bolivars you will see the difference.

Besides, that's data only for lcoabitcoins, most people in the EU and US don't use local bitcoins but exchanges...to which Venezuelans have no access.

I think this graphic is not actual. China is definately in top 3, definately befor Venezuela. It's the biggest economy in the world, even bigger than the US in my opinion and mine the most Bitcoin.

[cizatext]

Searching the web, looking for bitcoin news, I found an interesting infographic that shows "Which country trades the most bitcoin".
The first 3 countries were predictable, but Venezuela? I would never guess.

Quated for the picture.

It's because localbitcoins reports the price in usd at the official rate bolivar/usd.
In reality, the volume far is smaller

Switching the chart from BTC to bolivars you will see the difference.

Besides, that's data only for lcoabitcoins, most people in the EU and US don't use local bitcoins but exchanges...to which Venezuelans have no access.

I still believe that China have the highest bitcoin trading history due to the fact that the region have been recorded to house the world highest bitcoin mining farm and not only that they ability to have access to high technical knowledge have also aides them to have the toping record of bitcoin trading, but some other countries like the U S also have high record of bitcoin trading.

[Dudeperfect]

There are some legal issues going on in some major countries and hence the volume of Bitcoin trade is lower as compared to the potential of those countries considering the number of Bitcoin users. I believe that China, US and India will e in the top three within next 5 years and current data is not scientifically accurate due to the pending legal issues.

[Ibrahim 2020]

Record shows that USA, Russia, UK, Venezuela, and China. The top ten accounted for over 86.5% of all trades done on the platform. This seems to indicate uneven Bitcoin adoption rates across the globe.”