Monday, March 4

Colombia is the third country with the highest growth in cryptocurrency adoption in the world

Key facts:
  • Cryptocurrency owners in Colombia multiplied by 2 compared to the previous query

  • Argentines claimed first place in adoption among Latin Americans, according to Finder.

Colombia was the third country with the highest growth of owners of bitcoin (BTC) and other cryptocurrencies worldwide. Likewise, Argentina joined Mexico as the Latin American countries with the highest adoption. This is clear from the most recent survey by the Finder group, a provider of statistics of Australian origin.

The data corresponds to the December 2021 consultation, in which Finder included Argentina and Venezuela, countries that were not evaluated in the previous version of the survey, carried out in October 2021.

The most recent results revealed that Colombia went from an average of 7.7% to 14.5% between October and December, in terms of the number of Internet users who own some cryptocurrency. This implies that the owners of this type of digital assets in that country multiplied by 1.9 in the last three months of the year. Only Norway and Russia had higher growth rates, of 3 and 2.9 respectively.


However, the adoption ranking among Latin Americans is headed by Argentina, which tied with Mexico as the country with the highest percentage of cryptocurrency holders. According to the Finder survey, both countries registered a percentage of 15.2% among respondents and are ranked 13th and 14th in a list of 27 participating countries.

Venezuela, Colombia and Brazil complete the Latin American table, with positions 15, 16 and 17, respectively. It should be noted that all the countries in the region show results very close to the global average, which stood at 15.4% in the December survey.

Colombia ranked third among 27 countries consulted, with a growth of 6.8% among Internet users who own bitcoin and other cryptocurrencies. Source: Finder

Bitcoin holders in Latin America below the world average

The pollsters disaggregated the preference of users for certain cryptocurrencies, which showed that the portion of Bitcoin in the cryptocurrency portfolio of Latin Americans is below the world average.

The highest percentage was recorded in Brazil, where 28.4% of respondents said they own bitcoin. They are followed by Venezuela with 27.5%, Mexico with 22.8% and Colombia with 20.5%. At the bottom of the list is Argentina, with a proportion of 16.6%, well below the global average, which stood at 39.1%.

Argentines seem to prefer diversified portfolios. The survey included questions about ownership of ether (Ethereum cryptocurrency), dogecoin, solana, and XRP, with participants from Argentina registering between 14% and 11.7%. For their part, Colombians and Venezuelans prefer Ethereum as a second currency, and in the rest of those evaluated they showed averages below 10%.

It is worth noting that, to build its cryptocurrency adoption rate, Finder is based on an ongoing survey of Internet users in the 27 participating countries. For the month of August 2021, CriptoNoticias reviewed another survey carried out by the firm Chainalysis in 150 countries, which placed Venezuela in the first place of adoption in Latin America, followed by Argentina and Colombia.