Most Crypto traders are concentrated in the United States, according to a report
A report was published showing that US users were responsible for 22 million visits to cryptocurrency exchanges. It seems that good old US is the new center of the cryptography universe. According to a recent report by the Estonian cryptographic research company DataLight, most of the world’s cryptocurrency traders are located in the United States.
The report collected and analyzed data from the top 100 “most popular” cryptocurrency exchanges to find that 22 million monthly visits to these cryptocurrency exchanges came from US users, followed by Japan (6.14 million monthly visits) and Korea of the South (5.73 million monthly visits.) The United Kingdom has played in fourth place with 3.89 million monthly visits, a number that according to the report would probably be destined to grow.
The data also showed a high number of users from countries whose legal currencies are unstable, including Mexico, Ukraine and Turkey. “It is interesting to note that, on a day in August 2018, a 10% decrease in the value of the Lira was accompanied by a marked increase in bitcoin exchange LocalBitcoin volumes,”the report explains.
The report also revealed untapped markets
The DataLight report also revealed another interesting demography: where cryptocurrency trading traffic is completely non-existent. While most countries in the world have seen at least one volume of trade, Greenland, some parts of central Africa and a couple of countries scattered across Asia have not seen monthly visits to cryptocurrency trade. Despite the apparent popularity of cryptocurrency trading in the United States, the
country’s cryptocurrency regulations are not yet clear. However, the lack of clarity does not seem to be correlated with the lack of control activity: last month, the Financial Crimes Network (FinCEN) issued a $ 35,000 fine to a peer-to-peer Bitcoin trader for failing to registered as a currency service business. In August, a LocalBitcoin trader was sentenced to 41 months in prison for money laundering after conducting Bitcoin’s own trading operations for more than $ 160,000.