It is estimated that over 2.5 million people, 4.8% of Colombia’s total population, currently own cryptocurrency.(1)
In Chainalysis’ 2022 crypto adoption index, Colombia ranks 15th place in Peer-to-Peer exchange trading volume. Only Vietnam, which topped the list of the top 20 countries on the index, had a higher volume of P2P trade.(2)
Colombia ranked fourth in the world for Peer-to-Peer Bitcoin trading volume while its capital city Bogotá ranked seventh in the list of top Bitcoin cities, with 87 active crypto businesses.(3)
80% of Colombians showed willingness to invest in cryptocurrencies while more than half of Colombians aged 25 to 40 have already invested or expressed interest in buying cryptocurrencies. A third of Colombian crypto-owners had already carried out transactions using cryptocurrencies.(4)
The persistent depreciation of the Colombia Peso is also driving Colombians to view blockchain and cryptocurrencies as an alternative to wealth protection as the Peso plunged and weakened below 5,000 per dollar for the first time, in 2022.(5)
1. https://triple-a.io/crypto-ownership/
2. https://blog.chainalysis.com/reports/2022-global-crypto-adoption-index/
3. https://decrypt.co/41254/these-10-countries-lead-world-bitcoin-adoption & https://www.forbes.com/sites/alexandratalty/2018/07/31/the-top-10-bitcoin-cities-in-the-world/?sh=15a34b824565
4. https://cointelegraph.com/news/80-of-colombians-open-to-investing-in-crypto-new-survey
5. https://www.bloomberg.com/news/articles/2022-11-01/colombian-peso-extends-plunge-to-record-low-of-5-000-per-dollar-l9ybsm4d
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