293 Bitcoins were traded in Colombia last week

By Permabull | BTC Latino | 5 Aug 2020

Checking last week's statistics, 293 BTC were traded in Colombia on LocalBitcoins.

The number is slightly up from 260 BTC traded a week before. Although, the volume is slowly slipping down from 760 BTC per week in February 2019.

  • 293 BTC is over 11,000,000,000 Colombian Pesos.
  • One Bitcoin (BTC) is currently about 40,000,000 Pesos.
  • One Colombian Peso will get you about three Satoshi.
  • Monthly minimum wage is under 900,000 COP - less than 250 USD.
  • Inflation rate in Colombia is about 5% per year.


There are quite a few exchanges in Colombia (BISQ, Buda, Coinmama, SatoshiTango, etc) but only LocalBitcoins provides the data to see weekly volumes.

If you want to learn more about the situation in Colombia, the best website in English is probably this one: Colombia reports

If you prefer a quick TL;DR: 6 Facts About Hunger In Colombia

Back to Bitcoin in Colombia. Local residents and investors treat Bitcoin as a safe haven and a way to hedge against the incapable government. The inflation rate is down to 5% and that's impressive number in Latin America although much higher than in western world. To keep the savings safu, part of the population keep buying Bitcoins. There's also almost 2 million people from Venezuela and they use Bitcoin and other crypto to send part of their wages to their families back home.

LocalBitcoins listings: https://localbitcoins.com/buy-bitcoins-online/COP/


It looks like most Bitcoins were traded at the beginning of 2019. That's true but don't forget that Bitcoin was that time at it's cheapest since ATH in 2017. Here's the same volume in COP (Fiat in Colombia):



You can also check the weekly volumes at Coin.dance.

Will keep you posted. If you have any questions, ask in the comments, please.


Thank you guys for reading, liking, following, and tipping. Extremely appreciated! 👍

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Saw crypto as a way to make some cash, a get rich quick scheme. Learned about the tech and will stay in forever. Watching the GOV spending in 2020 made me realise how fiat is controlled way too much and becoming worthless be a minute. Bitcoin for the WIN!

BTC Latino
BTC Latino

Hope this blog will help to spread the awareness about the financial situation in the Latin countries as well as the use of cryptocurrencies in poor countries as an hedge against corrupt governments. Currently mostly about Argentina and Venezuela, more countries to follow.

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