Bitcoin P2P ( Peer to Peer )trading is taking the lead in different countries around the world. This could be the result of strict measures to engage in cryptocurrencies in countries such as China. This week, the volume of P2P bitcoin trading has hit new all-time highs in at least six countries. India took the lead in recording a transaction volume of $3.4 million. Other countries on the trail included Ghana with $1.7 million, Argentina and the Philippines with $1 million each, Mexico with $700,000, and finally Egypt with $150,000.
India lifted the ban on crypto trading back in March of this year. The ban appears to have a reversal effect on the direction of trading, with the country emerging strongly as a global leader in cryptocurrency transactions. Bitcoin optimists believe that India will certainly do well and witness a booming growth in the industry. Dozens of exchanges in India experienced an explosive spike in trade volume between March and June. For example, WazirX reported a 160 percent increase in new registrations from different Indian cities. Blockchain analysts believe that wealthy families in India could invest in crypto as a means of diversifying their wealth portfolios.
Peer to Peer ( P2P) bitcoin trading is people ‘s engagement in buying and selling cryptocurrencies without the involvement of middle parties, such as exchanges. This trading method is popular in countries where strict measures against crypto involvement are in place. While countries like China have stopped people taking part in crypto, P2P trading is becoming a healthy bet for people under such governments. As mentioned above, with respect to the top-performing P2P countries, P2P trading has grown steadily and steadily in countries such as Ghana, the Philippines, India, and Argentina. The rate appears to be rising at a high rate and is unlikely to slow down any time soon.
