When people in Colombia talk about crypto transactions, digital payments using blockchain technology that let users send and receive money without banks. Also known as cryptocurrency transfers, they’re becoming a real alternative for everyday payments, remittances, and even small business sales. Unlike traditional banking, these transactions don’t need a middleman—you send Bitcoin, USDT, or other coins directly to someone else’s wallet, often in under a minute.
But here’s the catch: Colombia doesn’t have clear national rules for crypto yet. That means people use it, but they’re also exposed. Some use crypto to send money to family abroad because traditional remittance services charge too much. Others trade on local platforms like Bitsonic, a Korean-focused exchange that’s not designed for Colombian users but sometimes gets used by Spanish speakers—even though it has no English support or mobile app. Meanwhile, scams are everywhere. Fake exchanges like LongBit, a non-existent platform pretending to be a real crypto service and fake airdrops like CovidToken, a completely made-up project that lures people with free tokens are targeting users who don’t know how to spot them.
And it’s not just scams. Global crackdowns are starting to affect Colombia too. When South Korea fined Upbit $34 billion for ignoring KYC rules, it sent shockwaves through Latin America’s crypto scene. Regulators are watching. If you’re doing crypto transactions in Colombia, you’re likely doing them without full legal protection—and that means you’re responsible for your own safety. That’s why understanding KYC and AML requirements, the global standards forcing exchanges to verify users and track money flows matters, even if your local platform doesn’t ask for ID. If you’re sending crypto to someone who won’t verify their identity, you could be unknowingly helping money laundering.
People in Colombia are using crypto because it works where banks don’t. But without strong local laws, every transaction carries risk. The posts below show you exactly what’s happening: which platforms are real, which airdrops are fake, how scams trick users, and what global trends are shaping local behavior. You’ll see how a seizure in Canada shut down an anonymous exchange, how DeFi risks like impermanent loss can wipe out savings, and why the only way to stay safe is to know the truth before you click send.
Colombia doesn't ban crypto, but its banks are legally blocked from handling any crypto transactions. Learn how this affects users, businesses, and the future of digital finance in the country.