Russia Topped LocalBitcoins Rating on Bitcoin Transaction

Kataryna Kovtun June 4, 2020


According to the results of May 2020, Russia took first place in terms of transactions with the largest cryptocurrency through the LocalBitcoins platform. This is stated in the statement of the resource CryptoDiffer, using data from Coin Dance.

Note that Russian platform users showed the highest activity in April, ahead of investors from Latin America and the United States.

In addition to Russia, Venezuela and the USA were among the three leaders. A similar situation was observed in April of this year, the researchers note.



We took a look at the #Bitcoin $BTC #BTC trading volume by countries on @LocalBitcoins in May

Data by @Coin_Dance

12:10 AM — May 31, 2020

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The share of the Russian Federation accounted for 19% of all bitcoin transactions made in May at LocalBitcoins. In April, users from Russia made 22% of the total number of transactions with BTC.

Other Сountries in the LocalBitcoins Top

Venezuela and the United States accounted for 11% and 10% of transactions, respectively. The rating also included Ukraine, whose platform users made 1% of the total number of transactions with the largest cryptocurrency.

According to representatives of LocalBitcoins, Russia is one of the main markets for the platform.

The surge in activity in April-May, observers connect with instability in the Russian financial market. Many citizens of the Russian Federation took the advice of experts and began to buy BTC to minimize the risks associated with the fall of the ruble.

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