HomeCRYPTOCURRENCIESthe number that cryptocurrencies move in Colombia • ENTER.CO

the number that cryptocurrencies move in Colombia • ENTER.CO

The adoption of cryptocurrencies in Latin America is on the rise. Until last May 4, the applications for the purchase and sale of Brazilian tokens reached 7.4 million downloads; El Salvador became the first country to adopt bitcoin as its official currency (a decision that in recent days would have passed a US$40 million bill to the Nayib Bukele government), and according to Statista numbers, at least 21% of the total volume of cryptocurrencies available in Latin America and the Caribbean is found in digital wallets in Colombia, where there are already 39 bitcoin ATMs installed throughout the territory.

The acceleration in the adoption of cryptocurrencies in the country, which after Venezuela is the place with the highest number of bitcoin transactions in the region, also responds to its impulse from the officialdom. Colombia has the Arenera project, which allows some centralized banking entities to serve as channels for users to trade cryptocurrencies directly on platforms of different exchanges such as Bitso (which this week reached Colombia), Binance, Gemini and Buda.com.

So far, there is no balance from the Financial Superintendence regarding the results that the pilot has produced, however, there is optimism on the part of those who are committed to a future formalization of the world of economic decentralization in the country, since the figures seem support them: according to data provided by Colombia Fintech, monthly bitcoin transactions in Colombia reach up to US $70,000 million.

Bitcoin, below US $ 30,000: does the idea of ​​legalizing cryptocurrencies falter?

The second quarter of 2022 has been quite volatile for the crypto market: until May 20, Bitcoin maintains its value at US $ 28,894 and the forecasts for the rest of the year are not encouraging.

However, Alejandro Beltrán, country manager of Buda.com, assured the newspaper El Colombiano that “the price is not a factor that can harm the trials” and that, once the storm passes, the data related to the practices of users, banks and platforms, those that acquire greater relevance than those related to the market price.

For now, the country is still waiting for an open debate on the regulation of cryptocurrencies in the national territory, which, according to several expert voices, will take place depending on the progress made by the pilot and the opening of the financial sector to this market. In the meantime, they recommend being cautious on the subject, knowing very well how these coins work and not investing more than 10% of the money in them.

Images: Archive

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