Colombia | 2021

Digital currency Adoption and trends in Colombia in 2021

6.1

%

of Colombians
own digital currency

How many digital currencies owners are there in Colombia?

It is estimated that over 3.1 million people, 6.1% of Colombia’s total population, currently own digital currency.(¹)

Colombia – Latin America’s next digital currencies hub?

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 digital currencies businesses.(2)

How do Colombians view digital currencies?

80% of Colombians showed willingness to invest in digital currencies while more than half of Colombians aged 25 to 40 have already invested or expressed interest in buying digital currencies. A third of Colombian digital currencies-owners had already carried out transactions using digital currencies.(3)


Colombia saw a major boost in digital currencies use as a store of wealth as well as for transactional purposes in 2020, with peer-to-peer lending platforms and exchanges recording historic growth. LocalBitcoins reported that Colombia accounted for 11.3% of its global volume in 2020, making it one of the firm’s “main markets” alongside Russia and Venezuela. Transaction volumes on Buda.com, one of Latin America’s largest digital currencies exchanges, grew by 350% between 2019 and 2020 in Colombia, with active users on the platform increasing by 125% to 16,092 according to data provided by the exchange.(4)


Colombia also boasts the highest number of Bitcoin ATMs in a Latin American country, according to Coin ATM Radar. The country has 59 Bitcoin ATMs and tellers, with 33 in Bogota, the capital, alone. In contrast, Panama has only 17 bitcoin ATMs, the second-largest number in the region.

Digital currencies’s rising popularity in Colombia

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