Paxful reports on growth trade bitcoin in Russia
Bitcoin trading volumes in Russia are at high levels
Over the past year on exchange Paxful number of Russian users increased by 350%
Growth of the bitcoin market in Russia can get development
International consortium news organizations, developing transparency standards.
Bitcoin trading volumes are growing this year despite lingering uncertainty in the legal space.
For several For years, traders and crypto enthusiasts in Russia have faced regulatory uncertainty and conflicting statements from legislators. Despite these problems, the country’s bitcoin trading has not only survived but is flourishing. At least about this say figures from P2P bitcoin platform Paxful, where over the past year number users from the Russian Federation increased by 350%.
Even after the beginning of the global coronavirus pandemic in March, the Paxful platform recorded a record monthly maximum new users. More addition, recently in the third reading of the State Duma Russian The Federation approved the draft law “On digital financial assets”, and then the law was approved by the Federation Council.
Let us remind you that the first steps towards the formation of the legal framework for regulation digital assets in Russia started yet autumn 2017 of the year. Now same, in fact, market cryptocurrencies in Russia can begin to function legally already from next year, which means trading activity in the country will be rise.
Growth indicators Paxful also signals the strengthening of the status of the P2P platform, but exchange still only to catch up with the leader market in the region represented by LocalBitcoins. By the way, on today’s day Russia is an the largest P2P Bitcoin trading market in Europe, but practically everything trading volumes still go through LocalBitcoins.
According to Useful Tulips, in the past month Paxful’s total trading volumes on the site amounted to slightly less than $ 0.5 million., then like Finnish LocalBitcoins for this the same period, turnover of over 31 million was recorded dollars.
Yes, the gap is really impressive, but that doesn’t mean the existence of Paxful located threatened by. Company has already proven itself as reliable P2P platform in Africa, and currently plans to squeeze LocalBitcoins in Latin America.
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