P2P Exchange Paxful with its Bitcoin Volume to $1.1 Billion in 2020

One of the most famous Peer to Peer exchange platform, Paxful has reported recently that  bitcoin trading volumes climbed 35% to $1.1 billion during the first six months of 2020 compared to $817 million a year ago.


Bitcoin worth of $182 million on average is been traded on the platform every month between January and June this year. To date, the Paxful has accumulated 4.5 million users and has reached a total $4.6 billion trading volume for BTC since it started operations in 2015.


Currently the average amount per trade is fluctuating at $102 more than twice the average five years ago, which was $45.


The Paxful CEO Ray Youssef said, the P2P market place has added on average of one million users per year over the last four and half years, with 2020 on track for additional two million sign-ups.


Its been said in News.Bitcoin.com that “Some 1.1 million new users joined the platform between January and June, compared to 480,000 that registered over the same period in 2019. Youssef attributed the growth in user numbers to high inflation rates, weak national currencies, inadequate financial infrastructures, and growing economic uncertainty.”


“We built Paxful to help the little guy and create wealth for those who need it most,” said the CEO. “There are people who live with restrictions and limitations we cannot imagine. For true financial inclusion to happen, it requires a free market for money transfers,” he added.


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