COMING SOON: A New Way to Earn Passive Income with DeFi in 2025 LEARN MORE

Bitcoin P2P trading volume: India witnesses massive growth

In this post:

  • India Bitcoin P2P trading grown massively 
  • Adoption of the crypto asset is also growing

India and China are currently the leading countries when it comes to peer-to-peer Bitcoin trading.

India has recorded a huge amount of growth in its P2P trades this year. At this rate, the country is poised to surpass China as the leading contributor to the Asian P2P transaction volume.

China banned its teeming population from directly buying the crypto asset using their Yuan currency, this led to a drop in the amount of trades being carried out with the coin. India, on the other hand, has seen an increase in its trades.

As the value of the coin has risen, many traders have become more inclined to increase their tradings in the coin. Not only that, there had been a rapid rise in the numbers of startup jobs in the crypto industry.

India’s growth in P2P trades

Reports have shown that LocalBitcoin had dominated the crypto market of the country, until September when it tried to implement the KYC guidelines. 

Paxful was able to take a major share of the market when it implemented KYC guide. This, however, did not stop Asia’s trading volume from nosediving.

The growth of P2P trade in India can be linked with the judgment of the Indian Supreme Court that overturned the ban placed on crypto assets by RBI earlier in the year.

See also  Japan’s long-term yield hits all-time high as debt crisis fears explode

Price of Bitcoin keeps rising 

The price of Bitcoin has risen drastically in the last two to three weeks. Presently, the coin is selling for over $15,000.

The coin had suffered a dip in its price due to the pandemic early in the year but it has consistently risen. Many analysts have predicted that the coin could go on to sell for as high as $20,000.

The rate of adoption and acceptance of Bitcoin has immensely grown. Institutions like PayPal, Square etc have played an active role in the acceptance of the coin.

Cryptopolitan Academy: Tired of market swings? Learn how DeFi can help you build steady passive income. Register Now

Share link:

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

Most read

Loading Most Read articles...

Stay on top of crypto news, get daily updates in your inbox

Editor's choice

Loading Editor's Choice articles...

- The Crypto newsletter that keeps you ahead -

Markets move fast.

We move faster.

Subscribe to Cryptopolitan Daily and get timely, sharp, and relevant crypto insights straight to your inbox.

Join now and
never miss a move.

Get in. Get the facts.
Get ahead.

Subscribe to CryptoPolitan