We may receive advertising compensation when you click certain products. Before jumping into this page, an important disclosure.

You'll need a Bitcoin wallet before you buy since some exchanges require one.

Don't have a wallet? Read our guide on the best Bitcoin & cryptocurrency wallets.

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One of the easiest ways to buy Bitcoin in Colombia is through cryptocurrency exchanges. There are several exchanges offering Bitcoin in Colombia, and you can easily select one based on your requirements and preferences using our guide. Different exchanges have different transaction fees, withdrawal limits, payment modes, and verification processes that need to be kept in mind before users select one.

Additionally, Bitcoin buyers need to keep in mind the fact that certain exchanges might require them to get a wallet of their own before they are able to buy the digital currency. Also, it is recommended to have a wallet of your own for security reasons, preferably a hardware wallet. If you don’t have a wallet, refer to our guide on the Best Bitcoin and Cryptocurrency Wallets to choose one.

Another way to buy Bitcoins in Colombia is through automated teller machines (ATMs). These ATMs allow users to instantly purchase and sell cryptocurrency using cash, however most of them require at least a phone number, so they aren't totally private.

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Colombia has access to many large Bitcoin and cryptocurrency exchanges.

Have a look at our favorites below:

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There are three main types of Bitcoin wallet and all of them are supported in Colombia:

• Software (desktop or mobile - iOS and Android wallets
• Hardware wallet
• Cold-storage (paper or steel wallets, the latter of which are used to backup your main wallet.

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Me Coin Scam

In August of 2018, the founders of Me Coin closed up shop and skipped the country with $60 million worth of clients money.

Me Coin's horrible low resolution logo that inspires 0 confidence.

However, no one should have been surprised. Me Coin was offering its customers a guaranteed 50% monthly returns on investment. Such returns are impossible to guarantee, and can only be achieved through organizing the company on a Ponzi scheme.

When the founders could no longer keep the illusion going, they simply took everyone's money and left.

All in all, it is beleived that more than 4,000 customers were scammed out of their Bitcoins, many of whom invested into Me Coin after personally meeting the founders face to face across the country.

SBlock-Trade Scam

In July of 2020, the Better Business Bureau issued a warning about a company calling itself SBlock-Trade. The company purports to be an online investment platform for cryptocurrencies and forex trading.

SBlock-Trade is reported to solicit customers to send them Bitcoin and in return they will return an ROI. They claim to have made 187% on their investments over 60 days, and guarantees returns of 30-50% within the first week.

An SBlock-Trade affiliate promotion for a scam it was running in India

There are several red flags about this company, most notably that it claims to be based out of the Canadian city of Nova Scotia, even though there is no city of Nova Scotia in Canada (NS is a province, similar to a state). They also claim to have offices in the United Kingdom and Bogota, Colombia.

Canadian officials have confirmed that SBlock-Trade is not licensed to operate such an exchange in Canada so customers should beware.

Its website is, however, no longer running.

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Does Coinbase work in Colombia?

Coinbase ONLY allows crypto-to-crypto conversions conversions for Colombian resident as of September of 2020.

Where Can I Find a Bitcoin ATM in Colombia?

You can find Bitcoin ATMs all over Colombia - see the map below:

Bitcoin ATMs are a very hot commodity in Colombia due to its close proximity to Venezuela.

As you may or may not know, not long ago, Venezuela was the wealthiest country in South America due to its vast oil reserves. Its then leader Hugo Chavez eventually nationalized the oil reserves began to use the proceeds to fund large welfare programs for the country's poor.

When oil prices collapsed and overspending on programs bloated, the economy died

Unfortunately, this resulted in massive debt and overspending that the country could not handle. This was especially true after oil prices drastically fell.

To remedy the situation, Chavez began printing money so to create programs that would pay for various necessities of the people, but this resulted in hyperinflation that continues to today under leader Nicolas Maduro. It's so bad in fact, that the currency is essentially worthless. Bitcoin became a useful tool for Venezuelans, however attaining it can be difficult except through bribery and corruption.

One avenue that has been very popular is for relatives in nieghboring Colombia to buy it at ATMs and send it to Venezuealans across the border. Sometimes Venezuelans will also cross the border themselves and buy Bitcoin at the ATMs.

Venezuelan smugglers carrying goods across the border from Colombia

For a more in depth look at how Colombia is affected by the civil unrest and hyperinflation in Venezuela, and the role Bitcoin is playing as an exit hatch for Venezuelans, check out Peter McCormack's Defiance TV episode on this topic below:

What is the price of Bitcoin in Colombia?

The current price of Bitcoin in Colombia is COP 39,296,750.64, however this amount changes every minute, so always check the value on your local exchange.

Which stores accept Bitcoin in colombia?

Bitcoin is accepted at lots of stores and service providers all over Colombia. So many, in fact, that we couldn't possibly list them all here. However, you can find specific kinds of services and goods filterable on a map over at coinmap.org.

The colored sections indicate areas where there is heavier acceptance of Bitcoin

How do I cash out of Bitcoin in Colombia?

Any exchange with a Euro trading pair will allow you to sell your Bitcoin for fiat currency. Bitpanda and Bitcoin.de has COP trading pairs for many popular coins.

You can also use CoinATM Radar to find Bitcoin ATMs in your city if you wish to exchange your Bitcoin for cash in the quickest amount of time.

LocalBitcoins is another option. Here, you can buy and sell Bitcoin for a wide range of payment methods, from gift cards to bank transfers. LocalBitcoins is a peer-to-peer (P2P) exchange, where you buy and sell with another individual. This does introduce a degree of risk, though by ensuring that you conduct all business on the platform, make use of its escrow services, and only trade with users who have a good reputation, you'll minimize any potential problems.

You could also use a service like eGifter to sell your Bitcoin for gift cards.