An Indian cryptocurrency exchange, which is now live in 45 countries, reports that it is “seeing immense enthusiasm and buyer activity in Venezuela,” a spokesperson for the exchange told news.Bitcoin.com. Compared to other countries, “Venezuelans are looking more at the longer-term yield of bitcoin.”
Live in 45 Countries
Indian cryptocurrency exchange Instashift is now live in 45 countries. After launching in India and Canada in February, the exchange began to roll out service in a slew of countries in November, offering support for 45 fiat currencies. A spokesperson for the exchange told news.Bitcoin.com on Thursday:
Presently, in the 45 countries we have launched [in], we are seeing immense enthusiasm and buyer activity in Venezuela … Venezuelan users were on a buying spree.
“We partnered with [a] few good local sellers,” the spokesperson said, confirming that his exchange plans to add “another 45 countries by April 2019.” Other than Venezuela, “We see demand from Panama, Thailand, Nigeria, Romania, Cameroon, Argentina, Colombia, Mexico, and Ukraine,” he detailed.
The 45 countries that Instashift is live in are Argentina, Australia, Brazil, Cameroon, Canada, Central African Republic, Chile, China, Colombia, Dominican Republic, Egypt, Ghana, Hong Kong, India, Indonesia, Japan, Kazakhstan, Kenya, Kuwait, Malaysia, Mexico, Morocco, New Zealand, Nigeria, Panama, Peru, Republic of Congo, Romania, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Sri Lanka, Sweden, Switzerland, Tanzania, Thailand, UAE, Uganda, Ukraine, the U.K., the U.S., Venezuela, and Vietnam.
Citing similarity to Localbitcoins, the spokesperson claims, “As we are [a] pure peer-to-peer exchange with an instant coin conversion feature, there is no specific licensing for it at the moment.”
Strong Demand in Venezuela
The spokesperson shared with news.Bitcoin.com that,