LocalBitcoins was founded in 2012 in Finland and offers over-the-counter trading of local currency for bitcoin, along with having a P2P trading platform. Their Finnish crypto trading platform is quite popular with Latin America, with Venezuela and Colombia accounting for over 85% of LocalBitcoins’s trading volumes by February 2019.
Quite contradictory to this scenario, Coinnest a major South Korean crypto exchange started closing its services in mid-April, owing to the extended 2018 bear market. However, despite the bear scenario, a survey suggested that the number of South Koreans buying cryptocurrency with fiat money substantially increased in 2018.
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