Highest Trading Volume in the World for Bitcoin

[elastiman]

Yes The United States is the first with $1.44 Bn (22.77%) and the 2nd is Russia with $1.05 Bn (16.55%). The United Kingdom the 3rd with $738 M (11.67%) and Venezuela the 4th with $707M (11.18%). China is the 5th with $622M (9.83%)

It is really weird that China is in 5th place
Asia is the continent with the biggest highest trading volume $2.07 Bn and so far more than $6.5 Bn has been traded on localbitcoins

For more information visit: https://totalcrypto.io/bitcoin-adoption-trading-volume-country/#Bitcoin_Trading_Volume_by_Country_8211_Chart

[1713582330]

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[Pursuer]

the volume that exchanges report is not the same as trading volume of a country! mainly because most exchanges are accepting traders from foreign countries. for example if I that don't live in US, use a US exchange such as Coinbase, the volume that I add to the total shouldn't be counted as US volume!
not to mention that most of these stats are not accurate because most of them inflate their numbers for competition. not to mention that methods that people use are not the same. for example Chinese are currently OTC trading or trading on Japanese and other foreign exchanges which is why you think it is lower.

[nicko122]

Yes The United States is the first with $1.44 Bn (22.77%) and the 2nd is Russia with $1.05 Bn (16.55%). The United Kingdom the 3rd with $738 M (11.67%) and Venezuela the 4th with $707M (11.18%). China is the 5th with $622M (9.83%)

It is really weird that China is in 5th place
Asia is the continent with the biggest highest trading volume $2.07 Bn and so far more than $6.5 Bn has been traded on localbitcoins

For more information visit: https://totalcrypto.io/bitcoin-adoption-trading-volume-country/#Bitcoin_Trading_Volume_by_Country_8211_Chart

"The data shows that 72% of Bitcoin trading happens in just five different countries. This just goes to show what a long way Bitcoin has to go before it can be deemed a truly global currency." This is true, Bitcoin is still far from being an international currency.

[th3nolo]

Yes The United States is the first with $1.44 Bn (22.77%) and the 2nd is Russia with $1.05 Bn (16.55%). The United Kingdom the 3rd with $738 M (11.67%) and Venezuela the 4th with $707M (11.18%). China is the 5th with $622M (9.83%)

It is really weird that China is in 5th place
Asia is the continent with the biggest highest trading volume $2.07 Bn and so far more than $6.5 Bn has been traded on localbitcoins

For more information visit: https://totalcrypto.io/bitcoin-adoption-trading-volume-country/#Bitcoin_Trading_Volume_by_Country_8211_Chart

As a Venezuelan citizen, I expect this volume to has a sustained resistance in those levels, since our county has become more aware of cryptocurrencies and of course Bitcoin. You only need to saw the volume in 2017 and compare it with 2018 it's insane, despite the bear a  bear market.

[Anti-Cen]

Shit that's a big dump.

Better call a plumber, your going to need one

Anyone cold this winter can now get free space heaters left over from the CPU wars that BTC started
https://www.zerohedge.com/news/2018-11-20/whats-happening-now-crypto-devastation-collapses-hash-rate-forces-miners-dump-rigs

Burning CPU power is shit code, i did warn you all

[eternalgloom]

the volume that exchanges report is not the same as trading volume of a country! mainly because most exchanges are accepting traders from foreign countries. for example if I that don't live in US, use a US exchange such as Coinbase, the volume that I add to the total shouldn't be counted as US volume!
not to mention that most of these stats are not accurate because most of them inflate their numbers for competition. not to mention that methods that people use are not the same. for example Chinese are currently OTC trading or trading on Japanese and other foreign exchanges which is why you think it is lower.

He's only talking about LocalBitcoins volume though. Wouldn't the statistics be fairly accurate, since people do generally have their country listed in their profile?
It might be possible that LBC inflates their numbers, but since it's more of an OTC exchange, I fail to see how they can do that exactly.

Title is a bit clickbaity though, it should mention that we're talking about LBC volume, which isn't particularly indicative of general worldwide Bitcoin trading volume.

[Lizzylove1]

Am not going to argue this, placing China in the 5th position is some what questionable about the accuracy of the data. I was expecting to see China at the 3rd or 4th position. Is possible they are not properly tracked.

[mazdafunsun]

I am not sure what is the status of the BTC in China, i am hearing diferent theories on daily basis- crypto is banned and then again unbanned. Therefore i doubt that this number is accurate and represents the real volume in China, also we allk now how big of a problem is washtrading.

[stompix]

Am not going to argue this, placing China in the 5th position is some what questionable about the accuracy of the data. I was expecting to see China at the 3rd or 4th position. Is possible they are not properly tracked.

I am not sure what is the status of the BTC in China, i am hearing diferent theories on daily basis- crypto is banned and then again unbanned. Therefore i doubt that this number is accurate and represents the real volume in China, also we allk now how big of a problem is washtrading.

Guys, just stop with this whole China is the biggest, greatest, bla bla bla
China had just overinflated numbers in shady exchanges like okcoin and huobi and others, in reality, usage and trading is well below European countries.

This girl tried to purchase food with BTC in Beijing and failed miserably while in Prague alone there are 20 restaurants accepting BTC

This whole pack of myths regarding China has been debunked a thousand times, just stop with it.

[qiman]

Well a lot of trading is also happening over the counter, millions in fact traded without open records because large institutions will not buy through the exchanges at the market price, no they will purchase Bitcoins from the big whales and private investors at a discount because they will buy in bulk. In turn the big whales will dump and suppress the price further in order to repurchase more Bitcoins at a further discount to what they sold them at over the counter to the wall street sharks.

[BrewMaster]

Am not going to argue this, placing China in the 5th position is some what questionable about the accuracy of the data. I was expecting to see China at the 3rd or 4th position. Is possible they are not properly tracked.

I am not sure what is the status of the BTC in China, i am hearing diferent theories on daily basis- crypto is banned and then again unbanned. Therefore i doubt that this number is accurate and represents the real volume in China, also we allk now how big of a problem is washtrading.

Guys, just stop with this whole China is the biggest, greatest, bla bla bla
China had just overinflated numbers in shady exchanges like okcoin and huobi and others, in reality, usage and trading is well below European countries.

This girl tried to purchase food with BTC in Beijing and failed miserably while in Prague alone there are 20 restaurants accepting BTC

This whole pack of myths regarding China has been debunked a thousand times, just stop with it.

everything about China has been exaggerated, but they are not exactly wrong. Chinese have always been big traders in every market and ever since they found out about bitcoin (and surprisingly litecoin) they have been trading the shit out of it with a huge volume. big mining farms are also located in China.
but when it comes to news, they say they control 90% of the hashrate!!! they have the highest trading volume,...

in short China is in fact big but not nearly as big as the media portrays it to be.

[SparkleToken]

72% of the volume happens in only 5 countries. We have some time to go until we really are decentralized volume wise but we are getting there!BTC

[nutildah]

As a Venezuelan citizen, I expect this volume to has a sustained resistance in those levels, since our county has become more aware of cryptocurrencies and of course Bitcoin. You only need to saw the volume in 2017 and compare it with 2018 it's insane, despite the bear a  bear market.

I'm curious, would you mind telling us your thoughts on the Petro? Among those interested in cryptocurrency over there, how many of them have plans to use it, granted it ever becomes a real thing?

I know the bolivar is one of the few currencies that has more volatility than bitcoin. Just wondering what the general vibe is regarding the petro. We hear so much about it but not much from actual Venezuelans.

[Troysen]

You have to know that not all trades are reported, so there must be certain variations in those charts, it is surprising that China that supposedly has forbidden cryptos is in 5th place and Venezuela is also to be expected because, with everything and volatility, it is still much better to have bitcoin than the local currency so devalued.

[jhache]

And the most impressive thing is that these numbers are from a bear market, can you imagine if we were going up? I think the adoption would be even more prominent, it is true that the market is not so beneficial to make an investment, but bitcoin is still an excellent method of transaction, as this chart indicates.

[coinwizard_]

The U.S can collect accurate statistics because most trades happen above board, in countries where crypto trading is a grey area they won't use localbitcoins, but it is still a useful figure to see

[stompix]

everything about China has been exaggerated, but they are not exactly wrong. Chinese have always been big traders in every market and ever since they found out about bitcoin (and surprisingly litecoin) they have been trading the shit out of it with a huge volume. big mining farms are also located in China.
but when it comes to news, they say they control 90% of the hashrate!!! they have the highest trading volume,...

in short China is in fact big but not nearly as big as the media portrays it to be.

We know it has been exaggerated but we don't know how much.
You also say they trade like Duracell bunnies but there are no real numbers that can back that claim up, is it?
Same for the hashrate , is there any proof of it? No, just speculation as I've seen numbers from 90 to 60 to 50.


Funny thing tho when re-reading the article...
Russia is in Asia? Seriously?  

 

[buwaytress]

Trading volume, not use, don't get confused =) Add in all those wash trading, and we should have always known Bitcoin volume is somewhat inflated, though OTC is probably more than enough to balance those numbers anyway.

Localbitcoins is a good indicator for me, because we're talking about p2p. Individuals trying to buy and/or sell. Different form of trading, but a lot more useful than what goes on on most exchanges.

Funny thing tho when re-reading the article...
Russia is in Asia? Seriously? 

More than two thirds of the Russian Federation is on the Asian continent actually, and in the days of the Soviet Union, even maybe close to 85%? Still, most of developed Russia and certainly, where the trading happens, is in European Russia.

[stompix]

Trading volume, not use, don't get confused =) Add in all those wash trading, and we should have always known Bitcoin volume is somewhat inflated, though OTC is probably more than enough to balance those numbers anyway.

Localbitcoins is a good indicator for me, because we're talking about p2p. Individuals trying to buy and/or sell. Different form of trading, but a lot more useful than what goes on on most exchanges.

You realize of course that the volume we're talking is all time, right?
Because if we talk about last week:
China 700 BTC:
https://coin.dance/volume/localbitcoins/CNY/BTC
Peru (lol)  143
https://coin.dance/volume/localbitcoins/PEN/BTC

So 100 BTC per day...is not that impressive

And I wouldn't call localbitcoins an indicator
In Europe where you have access to SEPA and fast transactions, it makes no sense to deal with strangers and on top of that pay extra for.....nothing.
Right now the best I could sell my coins for is ~4190, not a great deal isn't it?

More than two thirds of the Russian Federation is on the Asian continent actually, and in the days of the Soviet Union, even maybe close to 85%? Still, most of developed Russia and certainly, where the trading happens, is in European Russia.

75% of the population lives in European Russia and Moscow has always been called an European city.
No matter what territory sits in Asia it's still considered a European country by almost everybody except the author here:P

[kryptqnick]

the volume that exchanges report is not the same as trading volume of a country! mainly because most exchanges are accepting traders from foreign countries. for example if I that don't live in US, use a US exchange such as Coinbase, the volume that I add to the total shouldn't be counted as US volume!

I totally agree with this. Exchanges are mainly international, so it doesn't make sense to count by them. However, are you sure that this statistic is doing so? They say it's data from localbitcoins trading, right? I guess this website does track the location, the country were the deal is made, right? Another issue is that a lot of people just use exchanges directly, so the localbitcoins infographics does not provide a full picture. The general picture makes sense, though. Asia is known for cryptos, Russia and US as well. This data might be somewhat inaccurate, but I don't think the real list differs much.