Bitcoin trading in Emerging Markets: going “crypto native”

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In one of my previous posts, I mentioned that emerging markets are more “bitcoin or crypto native“. And according to LocalBitcoins, 2018 was a great year for bitcoin trading especially in emerging economies – 4 out of the top 10 countries by bitcoin trading volume, were emerging markets.



4th Place Venezuela: Bitcoin and Dash go head-to-head

Venezuela is not an emerging market but I wanted to highlight why this South American country embraced cryptocurrencies so well.

If you are like me, sometimes is difficult to follow why things got so bad in Venezuela – here is an overview on how their economic situation got to this point.

If the fiat currency where you live is worthless and hyperinflation is rampant, the obvious move is to adopt a cryptocurrency. So, P2P transactions with Bitcoin and now Dash, have become the norm.

Experts say, DASH is has surpassed the volume of bitcoin trade.
It’s difficult to find websites that offer specific volume data on the DASH/VEF market, so there’s no reading of just how quickly Dash usage has expanded since the end of 2016 when it was first started in Venezuela. But no doubt, the adoption has been high.

Dash is accepted at 1,741 merchants and counting, including Calvin Klein, Subway, and Papa John’s, with dozens of videos out there documenting purchases at these locations.

Paying for Subway in Caracas



7th place Nigeria: despite government backlash Bitcoin trading is going strong

Nigerias use bitcoing mostly for P2P transactions – as most of the population still is unbanked. Cash and alternative methods of P2P payments contributed for the exponential rise of bitcoin transactions in the country.

In the end of 2018, there was a backlash from the Union Bank of Nigeria PLC, Nigeria’s sixth largest bank by assets. The bank issued a general notice informing its customers that all accounts linked to cryptocurrency trading activities will be monitored and may be subject to restrictions going forward.

The pronouncement comes at a time when the Nigerian cryptocurrency ecosystem is in the news for a potential government regulatory framework promised by the main opposition candidate in next year’s elections as reported by CCN


Even entrepreneurs are choosing bitcoin over the Nigerian Naira. As reported by CCN, web designer Soji from Lagos said:

 “I can use Bitcoin for anything now […] It means I can invest and also pay anybody currently, except old people, I will send them Bitcoin. “

This post was originally published on Emerging Markets Today

[PODCAST] Bitcoin prices July 2019: High Volatility

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Bitcoin prices July 2019

In the last 24 hours it’s been a roller-coaster of emotions if you follow Bitcoin prices!
Here is my second chat with friend and crypto trader Emi LaCapra: we talked about the high volatility of Bitcoin prices, why bitcoin is the absolute dominant crypto in the market and also a possible explosion of altcoins.

If you want to know more, Emi LaCapra wrote this article for Coinfomania, in reference to Bitcoin prices high volatility. Worth a read!

Coinfomania

Sweden ranked 12th place on bitcoin trading volume

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bitcoin trading sweden

According to Coin.dance with LocalBitcoins data, Sweden ranked in 12th place on world’s volume of Bitcoin trading in 2018.

But is this good news for Sweden? US$ 68 million doesn’t seem bad for a country with only 10 million people. Being already a cashless society, bitcoin (or crypto in general) falls a bit short on Swede’s pockets.

I asked Totte Löfström, CEO of the Swedish cryptocurrency exchange Trijo, what was his take on the LocalBitcoins data, here is what he said:

“It is of course really positive that Swedes are investing in crypto, but I think that the numbers might be a bit off. The biggest problem with them is that Local Bitcoins is the only data source. We haven’t had a real crypto exchange here in Sweden (Trijo will be the first), which means that we might be over represented in using Local Bitcoins. The over representation could also be linked to the fact that Local Bitcoins is a Finnish company and that Swedes are more likely to become customers.

Another problem is that Local Bitcoins has a fairly low trading volume compared to the big real-time exchanges that are operating around the world. Since the start 2012, Local Bitcoins have had a total trading volume of about $6.32 billion, which could be compared to Bitfinex which has had a trading volume of $1.45 billion the last 30 days. As much as I would love Sweden to rank high on such lists, I have to admit that we are probably not one of the biggest bitcoin nations today”.

Totte Löfström, CEO of the Swedish cryptocurrency exchange Trijo

Totte also told me that Trijo made a quite advanced analysis of the Swedish market (in order to get to know their potential customers better), and found that Sweden stands out when it comes to what percentage of the population has owned a cryptocurrency at some point in time. For Sweden, it’s around 1% of the population, but for Norway – they are co-operating with a Norwegian company that makes crypto surveys on a regular basis – the number is about 4%.

Blockchain & Bitcoin Conference Switzerland: Industry leaders get together

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Blockchain PR will bring you all the news and insights directly from the Blockchain & Bitcoin Conference in Geneva, Switzerland

On October 9th, 2018,  Smile-Expo will host the second Blockchain & Bitcoin Conference Switzerland – one of the most important events about Distributed Ledger Technology (DLT) and cryptocurrencies. The conference will bring together top professionals from the DLT-sphere, as well as investors, developers and market analysts.

Switzerland – the “Crypto Paradise”

Switzerland focus a great deal on blockchain development. The country has its own “crypto valley” – the city of Zug, where numerous crypto businesses work improving the blockchain technology and integrating the DLT in various sectors –  according to a report from PwC, 75% of Swiss business companies intend to integrate DLT in the next three years.

The country has developed clear guidelines for regulating ICOs and welcomes DLT applications in the education, transportation sectors and electronic voting.

What else is in store for the attendees of the event?

The team of Smile-Expo is proud to bring international experts as well as bright representatives of the Swiss blockchain community to the Geneva conference. It’s definitely an unmissable opportunity for those who want to get to know more about DLT and blockchain.

The conference will also feature the demozone, where DLT-based corporations will have a space to show their latest developments and present their innovative ideas to the audience.

And the famous “pitch-sessions” are back – on the sessions, companies can pitch their products or ideas to visitors and find potential business partners and investors.

Last but not least, from 03.10 to 05.10 (3 days only), you can buy 2 tickets for the price of 1 = 240 EUR. More information about the event and registration – on the official website here.

About the Organizer

Smile-Expo is a multi-national events company and has already successfully held 45 crypto events in 25 countries.

If you want to know more what Blockchain PR can do for your business – contact us here.

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