Before you decide where to buy / sell cryptocurrencies is advisable to know the different types of exchanges, let us know about your strengths and differences. LocalBitcoins is a site of exchange of bitcoins from person to person, in him, people from different countries can exchange their local currency for bitcoins. The site users post ads in which they specify the exchange rate and payment methods for the purchase and sale of bitcoins. You can respond to these ads and be in person to buy bitcoins cash, or trade directly via electronic payment. The bitcoins are saved in your portfolio LocalBitcoins.com from where you can directly pay for your purchases of Bitcoin.
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Average transaction and the countries where more uses the platform
Of the 46 countries are available for LocalBitcoins, five of them account for 72% of the entire volume of the transactions of the bitcoin in the world: the united States, Russia, United Kingdom, Venezuela and China. All of these countries, except Venezuela, have the Gross Domestic Product highest in the world. However, it is interesting because each of these countries have different degrees of uncertainty about their own local currency. In the case of Venezuela, who goes through an economic crisis and is heading towards an inflation rate that exceeded the million percent in 2018, is the country that concentrates almost all the transaction volume of Bitcoin on the continent. According to the data of Coin.dance, Venezuela concentrated 84,25% of the volume of transactions that take place in South America with 707.3 million dollars through LocalBitcoins, above Colombia who concentrates 7,76% to 65.2 billion dollars. Venezuela might be a clear example in the world of as the Bitcoin and the cryptocurrencies can be used to protect of the economic policies of the government, because despite the volatility that may be present, it is compared with the hyperinflation and the restrictions that the country lives. It is for this reason that it is not surprising that the adoption of Bitcoin continues to rise as time passes and the contexts that they are living in different countries. Most of the cryptocurrencies can be the best choice for people to preserve their wealth and avoid the uncertainty it generates about the economy, most people and businesses have begun to realize exchanges platforms such as LocalBitcoins and in the following installments we will teach you how to do transaction step-by-step. The following two tabs change content below. Advocate, enthusiast of new technologies, believing that Blockchain and Bitcoin will bring development to the mankind.