Annual crypto adoption development in Colombia 2020-2023, by metric

Published by
Raynor de Best,
Dec 10, 2024
Colombia's ranking in the world in terms of crypto adoption based on transaction volume declined, as the country fell out of the top 10. This is according to estimates based on web traffic toward individual websites that are used to perform cryptocurrency transactions. The main area of use for crypto in Colombia is P2P exchanges. The South American country receives millions worth of remittances each year, much like Argentina.

Crypto Adoption Index ranking of Colombia from 2020 to 2023, by metric

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Sources

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Release date

October 2023

Region

Colombia

Survey time period

July 2020 to June 2023

Special properties

Ranking (1 = highest, 146 = lowest); Weighted by purchasing power parity (PPP) per capita

Supplementary notes

All figures have been collected by Statista.

The source explains that its index is calculated using five different sub-indices, which are estimated using an individual country's cryptocurrency transaction volume in different situations. These estimates are based off web traffic patterns from individual websites that are used for such transactions and/or protocols.

Several changes were made to the source's methodology over the years. In 2022, the main change involved the inclusion of Decentralized Finance (DeFi) transaction volume. Centralized and Decentralized sub-indices both count equally to the overall index.

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Market share

5

Penetration

5

Biggest brands

5

Users

4

Transaction value

4

Number of transactions

6

Miscellaneous

5

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Topics

Digital payments landscape in ColombiaMobile payments with digital walletsFintech in ColombiaE-commerce in Latin AmericaE-commerce in Colombia
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