Paxful To Become The Leading In P2P BTC Marketplace As It Surpasses LocalBitcoins Trading Volume

    The Peer-to-Peer (P2P) Bitcoin (BTC) marketplace Paxful has only recently reached its highest volume when it comes to the weekly traded volume.

    On December 2, Paxful has been reported to have seen up to $30 million in P2P Bitcoin trades, in the November 23 week. It has continued an upgoing trend ever since its inception.

    Paxful to Outrank LocalBitcoins?

    Paxful is a decentralized, P2P over-the-counter non-custodial services platform that allows users buying and selling Bitcoin gift cards, PayPal and those who are using bank transfers or other payment options to connect. It sees Bitcoin trades in more than 70 different fiat currencies from all over the world.

    During 2019, it has had between $20 and $25 million in weekly trades. Ever since 2015, Paxful has continued to go up and to get closer to LocalBitcoins, the P2P crypto trading veteran, not to mention it had increased volumes during the 2017 crypto bull run.

    LocalBitcoins has remained at a $40 to $60 million weekly trading volume for most of the 2018 and 2019, even if in the last months, it has been going under $40 million, in October and November. The niche market of Paxful is the one of exchanging retail gift cards for Bitcoin, especially on Amazon, eBay, iTunes and Steam.


    Who’s Challenging LocalBitcoins?

    LocalBitcoins has had its market share rivaled by formerly known LocalEthereum, now LocalCryptos.

    More than this, it has been criticized for registering as an official provider for crypto currency in Finland, when it has disappointed users who want to make transactions under a pseudonym. In July 2019, many centralized cryptocurrency wallet providers in the US and the exchange Coinbase have also entered the crypto market for gift cards, allowing their customers in some countries to exchange coins for e-certificates.

    Also, the largest platform for gift cards in Japan, Amaten, has announced in August that it’s going to issue tokenized gift cards after partnering with Aelf, the blockchain network provider.

    Get Free Email Updates!

    *Action* Enter Best Email to Get Trending Crypto News & Bitcoin Market Updates

    I will never give away, trade or sell your email address. You can unsubscribe at any time.

    Oana Ularu
    Oana Ularu
    Curious about what’s going on with all the money in the world, Oana is bringing you the latest news in the crypto world. She’s aware of the fact that you need to know everything that’s happening on the financial scene in order to play the cryptocurrency market, so you can count on her to share with you every little detail on what matters.

    [Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

    [Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer


    Please enter your comment!
    Please enter your name here


    Live Bitcoin Price & Latest BTC Chart News

    Today's Latest Crypto News

    Decentralized Finance (DeFi) Grew To $668 Million In 2019, How Will Taxes Be Calculated?

    2019’s decentralized finance (DeFi) boom that has led to more than $785 million being locked in crypto assets is giving accountants serious headaches. Antoine Scalie,...

    TRON Dev Team, TRONZ, Forks ZCash's Privacy Tech, Zk-SNARKs To Add to MainNet

    TRONZ team is set to implement privacy protocol which is poised to be the biggest Multi-party Computation in blockchain’s history. Tron states that a...

    Chrysler Building's Blockchain Real Estate Owners To Sell Building In Zurich, $135M Cash & ERC20

    The current owner of the Chrysler building is offloading a property valued at around $135 million to a blockchain-based real estate firm. It’s expected...

    Crypto Wallet BRD Expands Core Business, Launches Enterprise Blockchain Service ‘Blockset'

    BRD, a Mobile crypto wallet services provider backed by Ripple as well as SBI Holding, has announced it is expanding to the enterprise sector...

    Ripple: Asia-Pacific Remittance Market Seeing Growing Demand And is Ripe for Digitalization

    APAC digital transfer and remittance market expected to grow by 24.2% from 2018 until 2025 But what’s astounding is the expensive services charging...

    BitcoinExchangeGuide is a hyper-active daily crypto news portal with care in cultivating the cryptocurrency culture with community contributors who help rewrite the bold future of blockchain finance. Subscribe on Google News, see the mission, authors, editorial links policy, investment disclaimer, privacy policy. Got News? Contact us, we are human too. Note: nothing here is financial advice, do your own research thoroughly.