The Venezuelan government has been trying to crack down on Bitcoin trading in recent months. In February, the country's central bank released a statement warning that Bitcoin trading was "unauthorized" and announcing that it would take steps to prevent citizens from using the digital currency. You should visit bitcoin buyer if you want more information about bitcoin trading.
Despite the government's crackdown, however, Bitcoin trading in Venezuela appears to be thriving. A new report from CoinDance, a data site that tracks Bitcoin activity around the world, shows that Venezuelan Bitcoin trading volume has reached new highs in recent weeks.
In the week of March 18th, Venezuelans traded a total of $1.65 million worth of Bitcoin on LocalBitcoins, a peer-to-peer marketplace for buying and selling digital currency. That's more than double the $700,000 worth of Bitcoin that was traded in the country in the week of February 11th, and it's the highest weekly total since CoinDance began tracking Venezuelan Bitcoin trading volume in 2014.
The surge in Bitcoin trading activity comes as the Venezuelan economy continues to crumble. The country is facing sky-high inflation, a collapsing currency, and severe shortages of basic goods. Many Venezuelans have turned to Bitcoin as a way to preserve their wealth and purchase essential goods that are unavailable at home.
The rise in Bitcoin trading has also been helped by the recent launch of a new exchange, SurBTC. SurBTC is designed to make it easy for Venezuelans to buy and sell Bitcoin, and it accepts the country's currency, the bolivar.
With Bitcoin trading reaching new highs in Venezuela, it's clear that the digital currency is playing an increasingly important role in the country's economy. As the economic situation in Venezuela continues to deteriorate, it's likely that even more Venezuelans will turn to Bitcoin as a way to preserve their wealth and purchase essential goods.
Bitcoin trading has become extremely popular in Venezuela in recent years. This is largely due to the economic crisis that the country is facing, which has led to high inflation and a shortage of traditional currency.
Bitcoin offers a way for people to trade without the need for traditional currency, and it can be done completely anonymously. This has made it very attractive to people in Venezuela who are looking for a way to protect their wealth.
The Venezuelan government has tried to crack down on Bitcoin trading, but so far they have been unsuccessful. The government has even gone so far as to declare Bitcoin trading illegal, but this has not stopped people from using it.
Despite the challenges, Bitcoin trading continues to grow in popularity in Venezuela. The number of people using Bitcoin to trade is increasing every day, and it is likely that this trend will continue.
The past year has seen a tremendous increase in the popularity of Bitcoin trading in Venezuela. This is largely due to the country's economic crisis, which has led to a dramatic devaluation of the Venezuelan bolivar. As a result, many Venezuelans have turned to Bitcoin as a way to preserve their wealth.
Bitcoin trading volume in Venezuela has exploded in recent months. LocalBitcoins, a popular peer-to-peer Bitcoin marketplace, saw its trading volume in the country triple in the last quarter of 2017. And data from CoinDance shows that nearly $2 million worth of Bitcoin was traded on LocalBitcoins in January 2018 alone.
This surge in activity has been accompanied by a corresponding increase in the price of Bitcoin. On LocalBitcoins, the average price of Bitcoin has risen from around $500 in early 2017 to over $8,000 in January 2018.
The Venezuelan government has taken notice of the growing popularity of Bitcoin trading. In December 2017, the country's National Assembly held a meeting to discuss the regulation of cryptocurrency . And earlier this month, the Central Bank of Venezuela announced that it was working on a "petro" cryptocurrency that would be backed by the country's oil reserves.
Despite the government's efforts to crack down on Bitcoin trading, the activity shows no signs of slowing down. For many Venezuelans, Bitcoin is seen as a way to protect their savings from the inflation and economic turmoil that has beset their country.