[WATCH] Bitcoin is Trading at Premiums Above $60K in Egypt as Volumes Hit All-Time Highs in 2021, Says LocalBitcoins

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LocalBitcoins has revealed that Bitcoin is trading at premiums nearing $64, 000 in Egypt and volumes are at an all-time high in 2021.

This update confirms a renewed warning by the Central Bank of Egypt against issuance, trading, promoting, and operating cryptocurrencies and related activities in the country which was highlighted by BitKE.

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SEE ALSOHas the Central Bank of Egypt Reportedly Issued Another Crypto Warning Prohibiting their Use?

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Here are some stats about Egypt:

  • In 2021, Egypt hit an all-time high of $205, 000 trading volumes per week
  • As of March 16, 2021, one Bitcoin was trading at almost $64, 000 in Egypt
  • 67% of the population do not have a bank account
  • Egypt is one of the top 5 remittance receivers globally
  • Inflation is currently at 9%
  • The majority users are young people below the age of 34 years
  • Most traders in the country are looking for additional sources of income in trading or hodling bitcoin

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RECOMMENDED READINGThe Central Bank of Egypt Implements New Licenses for Cryptocurrency Business Issuance

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