Can you buy Bitcoin & other crypto at Banco de Bogota?
Banco de Bogota, like many other Colombian banks, is crypto-friendly. Yet, as a customer of Banco de Bogota, you cannot yet buy crypto directly at the bank. By following the steps in this guide, you can still buy Bitcoin & other crypto with your bank account at Banco de Bogota without any problems.
How to buy crypto at Banco de Bogota?
Step 1: register with a crypto exchange
You can buy crypto with a crypto exchange: this is a company where you can buy Bitcoin and Ethereum, among other things. The overview below shows you directly which crypto exchanges you can open an account with:
|Trade in Bitcoin & other cryptos! Try for free with a demo & deposit money with Banco de Bogota after. eToro USA LLC; Investments are subject to market risk, including the possible loss of principal.
Step 2: deposit funds from Banco de Bogota
Before you can buy crypto, you need to deposit money to your crypto account. You can deposit money to your crypto exchange account directly through your Banco de Bogota. However, you will first have to go through the verification steps of your crypto account by uploading a copy of your passport and proof of address.
Step 3: buy crypto with Banco de Bogota
You can now buy crypto directly with your bank account at Banco de Bogota. Select the crypto you are interested in and open the order screen. Within the order screen, you then enter the amount you want to invest. By clicking buy, the order will then be sent directly to the crypto exchange.
Keep in mind that executing the order may take a few seconds to minutes. You can also possibly use a take profit or stop loss: with these orders you automatically sell the position at a certain profit or loss.
Colombia in favour of crypto
The Colombian government is very supportive of crypto. Personally, I think they understand that crypto is very useful for many residents. After all, many people in the country do not yet have a bank account, and crypto allows those people to transfer money. At the same time, of course, there is a risk that crypto could be used for criminal purposes.
What is Banco de Bogota’s stance on crypto?
Banco de Bogota has several pilots running. For instance, they are currently working with exchanges to facilitate crypto transactions through the bank. In the future, it should be possible for all Banco de Bogota customers to send Bitcoin to other bank accounts. When such transactions can be carried out directly with the bank, it increases the user case for Bitcoin.
As expected, Banco de Bogota is therefore a crypto-friendly bank. You can invest in your favourite crypto coins at Banco de Bogota without any problems.
About Banco de Bogota
Banco de Bogota is Colombia’s first commercial bank and was founded in 1870. The bank’s headquarters can, unsurprisingly, be found in Bogota. With nearly $40 billion in assets under management, Banco de Bogota is one of Colombia’s largest banks.
Can you buy Bitcoin at Banco de Bogota?
It is not yet possible to buy Bitcoin directly from Banco de Bogota. However, the bank is experimenting extensively with cryptocurrencies, so it is only a matter of time before you can buy crypto with your account at Banco de Bogota. Fortunately, until then, you can link your bank account to a reliable crypto exchange without any problems and invest in crypto.