Bitcoin has seen tremendous growth in the US, Europe and China, and it seems that this momentum is carrying over into other countries, especially Canada. Just two days ago, the Winklevoss twins announced that Gemini will be open to Canadian citizens who wish to trade in bitcoin and ether, the digital token of the Ethereum blockchain. Canada is already home to several digital currency exchanges such as QuadrigaCX and Taurus, and US-based exchange Kraken - which also serves Canadian clients - has been seeing a steady growth of volume on their XBT/CAD trading pair.
Kraken also has one of the most liquid CAD-denominated Bitcoin order books of any digital currency exchange.
It's not just the exchanges that are expanding into Canada. In March, Canadian Bitcoin ATM maker BitAccess launched its Flexepin bitcoin voucher system, which allows Canadians to purchase the digital currency at over 6,000 retail outlets across the country. And in February, Toronto's Decentral FinTech Hub launched its own Bitcoin Card voucher system that could be purchased by Ontario residents at multiple retail locations.
LocalBitcoins, a popular person-to-person digital currency trading venue, is also showing a steady rise in trading volume coming out of Canada. According to data provided by CoinDance, for most of 2016, weekly bitcoin trading volume is hoovering around 200,000 CAD. In 2015, weekly volume averaged around 100,000 CAD. It is quite clear that interest and usage of the digital currency in Canada is on the rise!
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