Hyperinflation prevails in many African countries. This means that the currency there is rapidly losing value, which leads to even greater poverty. One solution to this problem is cryptocurrencies like Bitcoin (BTC). The people in Africa also seem to recognize this, because the P2P (peer-to-peer) volume is continuously increasing.
P2P Bitcoin volume: Africa second, North America unchallenged first
While we would never consider cryptocurrencies stable compared to fiat currencies, the situation is different in many regions of Africa. Local currencies are often shaped by hyperinflation and lead to an increase in poverty. Cryptocurrencies like Bitcoin (BTC) could be the solution and are therefore increasingly traded on P2P sites.
Peer-to-peer (PXNUMXP) describes the direct trade between two people without an institution. Users log on to a website like LocalBitcoins search for a suitable trading partner and clarify a process that is optimal for both parties. Buying Bitcoins (BTC) with P2P is the last way for many to purchase the digital currency anonymously.
The figures from the two P2P exchanges LocalBitcoins and Paxful are used to calculate the data. According to the analysis website "UsefulTulips", the P2P volume in Africa is in second place worldwide, ahead of Europe and Asia. Only North America is clearly in first place, as the following graphic shows. The trading volume of the last seven days is shown:
Continuous growth of P2P Bitcoin volume
In contrast to Europe, Asia and all other regions mentioned, which had their trading volume ATH in late 2017 or early 2018, the volume in Africa is at its highest. It has grown continuously in recent years:
Bitcoins worth $ 14,6 million have been exchanged among people over the past two weeks.
Friends of numbers, dates and graphics can visit Useful tulips call up all important information.
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