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How to Buy Bitcoin or Crypto with Bancolombia

How to Buy Bitcoin or Crypto with Bancolombia

Sara White
Fact Checked
Sep 5, 2022

Summary: Bancolombia does not currently offer cryptocurrency investing services through its online banking platform for customers in Colombia. The only method available to buy or sell digital assets is using a licensed and regulated cryptocurrency exchange in South America.

If you are looking to get started quickly, you can get started with a platform like eToro which offers fast and cheap Colombian Peso and 40 other currency deposits to trade crypto.

Table of Contents

Best Exchange for Bacncolombia

Platform Highlights

  • Fast and cheap Colombian Peso deposits via bank transfer.
  • Zero trading fees to buy and sell Crypto, Stocks and other assets.
  • 80+ Cryptos and over 7,000 Stocks, ETFs & Commodities.

Can I buy Cryptocurrencies with Bancolombia online?

Unfortunately, no. Bancolombia does not have any products or services which enable its customers to buy and sell cryptocurrencies through their mobile banking app. If you want to buy cryptocurrency with Bancolombia, you will need to set up an account with a cryptocurrency exchange like eToro, Coinbase or Kraken.

Once you have completed the registration process and verified your identity, you will be able to link your Bancolombia account to the exchange and begin buying and selling digital assets.

Bancolombia

Best way to buy Crypto with Bancolombia in Colombia

The best way to buy Bitcoin, Ethereum and other cryptocurrencies with a Bancolombia account in Colombia is with a Ministry of Finance and Public Credit regulated exchange. You can get started in minutes with the quick guide outlined below through eToro:

  • Step 1: Sign up to the eToro trading platform and verify your identity in Colombia
  • Step 2: Select the 'Deposit Funds' button at the bottom of your eToro Dashboard.
  • Step 3: Select your preferred deposit method to start buying Crypto via Bancolombia (bank transfer, credit card/debit card or PayPal).
  • Step 4: Once the money has landed in your account, you can buy, sell and trade any of the thousands of assets listed on their platform.
Bancolombia eToro

Bancolombia Crypto Policy

Bancolombia has not released an official policy statement on cryptocurrencies. However, the bank's website includes a section on virtual currencies that mentions Bitcoin, Ethereum and other digital assets. The section advises customers to be aware of the risks associated with investing in digital currencies.

These risks include the volatility of prices, the lack of regulation and the potential for fraud. Bancolombia also highlights that cryptocurrencies are not legal tender in Colombia and are not backed by the government.

About Bancolombia

Bancolombia is a financial institution based in Colombia. It was founded in 1968 and offers a wide range of banking products and services to its customers, including savings accounts, checking accounts, loans, credit cards, and investment products. The bank has over 4,000 branches across Colombia and also has operations in Panama, El Salvador, Puerto Rico, and the United States. Bancolombia is one of the largest banks in Colombia and is one of the country's leading providers of banking products and services.

The bank's focus on customer service and providing a wide range of banking products has made it a popular choice for Colombians looking for a reliable financial institution. Bancolombia has won numerous awards for its customer service, including the prestigious "Best Bank in Colombia" award from Euromoney magazine.

If you are looking for a bank in Colombia that offers excellent customer service and a wide range of banking products, Bancolombia is a good option to consider.

Sara White

I fell into crypto during the 2017 mania and have been around ever-since. I know write, research and publish my own reports on the digital asset ecosystem.

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