Major Spike In LocalBitcoins Trading Activity Could Be Due To Scams & Fraud

localbitcoinslocalbitcoinsJust last weekend, LocalBitcoins set its weekly record trading volume. Across disparate regions, there seems to be a unifying trend: volume is increasing on LocalBitcoins. 

But this has left some wondering: how much of this trading volume is due to fraud? Most of the transactions done on LocalBitcoins are not done via peer-to-peer cash transactions, but instead on transactions based around intermediary financial institutions. Does this mean that more and more people are dealing in bitcoins by depositing money in other individuals accounts?

Nonetheless, it appears on LocalBitcoins, at least, Bitcoin trading has been on the rise in 2015. This in light of many former users saying that once they do a few transactions with a trusted source they met on LocalBitcoins, they remove the transactions off the website.


In many key countries, trading is

Read more ... source: CryptoCoinsNews