The year 2020 has been exceptional in many ways for most of us — in LocalBitcoins, it has been an intense year of learning and growing so far. As we reach mid-autumn, let’s go through the LocalBitcoins highlights from July to September of 2020. See the Q2.2020 infographic here.
Approximately 580 million USD worth of BTC were traded in LocalBitcoins in the last 3 months — an impressive number in times of worldwide economic uncertainty. More than 445000 new ads were created in this same period that brought excellent news to LocalBitcoiners: the minimum wallet balance requirement of 0.04BTC was removed for creating sell ads.
On a monthly average, Q3 had more external transactions (845 608) than Q2 (800 000) or Q1 (745 000). We also saw almost a million trades completed per month — Bitcoin doesn’t sleep!
As seasoned peer-to-peer traders might already have noticed, not all Bitcoin markets are created equal: factors like the strength of the local currency and the country’s Bitcoin supply & demand ratio have an influence on the average Bitcoin pricing of a certain region. This can be a great advantage to LocalBitcoiners who want to trade internationally, as they can use the varying margins to their benefit.
The countries that created most new ads between July and September are also leading the top trade volume list, unsurprisingly. The United States’ good advertiser status can be partly explained by the popularity of the USD as an international currency. Our traditional top 12 in trade volume shows South Africa, Spain, and Argentina ranking higher now than in Q2.
- Russian Federation
- United Kingdom
- United States
- South Africa