How to buy Crypto and Bitcoin in Colombia

We cannot say Colombia leads the pack regarding crypto ownership whatsoever, considering that only around 5% of its total population owns crypto. But it’s safe to assume that this country is among the most progressive ones when it comes to crypto legislation. This means that Colombia-based users can buy, sell, store, and trade crypto at the CEX.IO crypto exchange. 

In this article, we explore how to buy crypto, including the most popular one, Bitcoin, in Colombia, through CEX.IO. 

How to buy Bitcoin in Columbia via CEX.IO: Step-by-Step Guide

CEX.IO provides many ways for Colombia-based enthusiasts to purchase crypto. Upon successful completion of our registration and verification procedures, participants gain entrance to a wealth of crypto-buying services and features, including a free online Bitcoin wallet. 

This not only allows traders from Colombia to buy, sell, store, and trade Bitcoin, but also 200+ other carefully selected assets. Eligible users can fund their accounts through our Wallet functionality or Spot Trading. However, the most intuitive way to acquire Bitcoin is through Instant Buy. This feature acts as a bridge between users’ CEX.IO wallets and their favorite payment methods, allowing them to obtain crypto at current prices. Here’s how: 

1. Log in to your account and navigate to Instant Buy. 
2. Pick Bitcoin (BTC) or any other asset as a cryptocurrency you want to buy.
3. Select the fiat currency you want to use for your Bitcoin purchase. 
4. Enter the amount you’re ready to spend for your crypto acquisition.
5. Choose your preferred payment method from the list of available gateways. 
6. Review all transaction details to make sure your payment information is in order. 
7. Initiate the transaction and confirm your payment following the on-screen instructions. 

Legal Framework and Regulations in Colombia

There are many “if”-s, “why”-s, and “how”-s, when it comes to crypto regulations in Colombia. First, crypto is not recognized as a legal tender. However, at the same time, Colombian law considers cryptocurrency as a means of payment, more precisely, a “deposit of value” and a “unit of account.” 

While this may seem unclear, one can come to an assumption that cryptocurrencies, at least based on Colombian laws, allow their citizens to own, trade, and store crypto at regulated exchanges. 

(H2) FAQs

(H3) Is crypto allowed in Colombia?

In short, yes. Despite somewhat unclear or challenging-to-understand laws, Colombia-based users can own crypto. 

(H3) Is there a Bitcoin ATM in Colombia?

There are around 40 ATMs in Colombia, allowing crypto owners to convert crypto to traditional cash. However, keep in mind that each ATM comes with certain fees. Therefore, it might be a good idea to consider withdrawing fiat currencies through crypto exchanges. Platforms like CEX.IO offer a potentially more seamless withdrawing experience with transparent fees that might benefit crypto users in Colombia. 

(H3) Which crypto app works in Colombia?

If you’re from Colombia and looking to buy or trade cryptocurrencies on the go, you can try the CEX.IO mobile app. This app is available across iOS and Android devices and is one of the best-rated apps on Google Play.

(H3) Can you buy USDT in Colombia?

Yes, Colombia-based participants can buy USDT virtually in any decentralized or centralized exchange. However, there are many shady businesses out there. Because of that, enthusiasts from Colombia should be cognizant of the potential risks and register only with licensed and regulated exchanges like CEX.IO. 

(H3) How do I track the value of Bitcoin on CEX.IO?

The most intuitive way to monitor the real-time price value of BTC is through our crypto prices chart. This not only gives you a glimpse into the inner workings of each vetted asset we offer but also provides information about the latest price movements, current market cap, and hottest trading pairs.