Bitcoin trading on the Peer-to-peer (P2) cryptocurrency exchange, LocalBitcoins has been surging for the last few weeks with it hitting a new all-time high in South Korea.
Reports reveal that the P2P exchange hit a new record high with 218.6 million South Korean won which roughly translates to $182,000 USD.
LocalBitcoin is a popular P2P exchange platform that is based in Helsinki in Finland where users exchange Bitcoins without going to exchanges.
The platform is important to countries where fiat currencies have lost most of their value and do not have available venues where they can use cryptocurrencies as an alternative store-of-value to mitigate the risk of heightened inflation.
LocalBitcoin platform is also a good indicator on the current state of cryptocurrency activities where it operates in.
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