Thursday, June 4, 2015
LocalBitcoins.com largest UK exchange according to new study
Yesterday, UK based Bitcoin news site Miningpool.co.uk released the results of a study on bitcoin use in the UK. According to their results, LocalBitcoins.com is the most used site to buy bitcoins in the UK. The study reveals that LocalBitcoins has 41.7 % of the P2P exchange market, and is the most popular way to acquire bitcoins in the country.
The most surprising fact of the study, however, is that only 13% thought governmental regulation of bitcoin to be bad and a whopping 48% think it is a good thing. A few respondents are cited as saying regulation should encourage bitcoin usage and improve it's public perception. Yesterday with the release of the BitLicense, the state of New Yorks regulation framework for cryptocurrency, the industry receive one of it's first regulations squarely designed around cryptocurrency. It remains to be seen what the effects are on the bitcoin ecosystem.
The study also looked at how UK residents use bitcoins, and the majority said they were acquiring bitcoins for purchases or savings use. Only 20% of respondents said they were engaged in day trading with bitcoins and 18 % said they used the currency to send cash to friend & family.
A summary of the study is available as a slideshare, which you can see below: