Blog: Best Crypto Exchange in Colombia – Emirates Business 24/7

In this article, we go over the best crypto exchanges in Colombia. We have evaluated and tested 133 crypto exchanges based on 8 categories. We have analyzed all particularities of their service, including trading commissions, platforms, deposits & withdrawals, asset portfolio, liquidity, safety protocols, and customer service. 

The highest-ranking crypto trading platforms are in the list below. 

Top 6 Crypto Exchanges In Colombia

  1. Coinmama – Best overall crypto exchange.
  2. eToro – Great copy trading tool, regulated by top tier one authorities.
  3. Binance – Well-established cryptocurrency trading platform with large trading volumes and liquidity.
  4. Coinbase – Great trading platform and low fees.
  5. FTX – Advanced trading tools.
  6. Kraken – Sophisticated trading tools for experienced investors.

Best Crypto Exchanges In Colombia – List

Exchange Overall Score General info Fees (Maker/Taker) Spot Volume (BTC)
#1 Coinmama 2 Best overall crypto exchange 0.01%/0.00% $808,571
#2 eToro 4.9 Great copy trading tool 1%/1% $2,739,612
#3 Binance 4.6 Best altcoin portfolio 0.1% /0.1% $806,899,070
#4 Coinbase 4.8 Best crypto trading platform 1.99%/1.99% $451,706,550
#5 FTX 2 Advanced trading tools 0.16%/0.16% $45,934,113
#6 Kraken 4.5 Most trusted exchange 0.16%/0.26% $53,964,331

This section below breaks down the best crypto trading platforms in Colombia, beginning with the best rated…

01. Coinmama: Best Overall Cryptocurrency Exchange 

coinmama-rating

Coinmama is a well-known crypto exchange with high-security standards and secure services. It has a straightforward platform with an impressive user experience. We recommend it for all traders, as it has an intuitive design. 

Coinmama has an impressive asset portfolio with popular altcoins. It has above industry average fees when compared to other exchanges. Coinmama is a good exchange for traders who prefer simplicity and high-security standards. 


02. eToro: Best Exchange With Copy Trading Services 

etoro-exchange-logo

eToro is a leading online broker with access to exchange services. it offers a robust exchange, the eToroX, and in-house e-wallet storage. eToro has secure platforms with simple interfaces and professional copy trading features. 

This exchange has access to premium tools and features. It offers margin trading, APIs, and fiat deposits in USD. eToro is a secure provider with top-tier licenses and a good track record. It provides excellent customer service available in many languages. 

Crypto assets are unregulated in some EU countries and the UK. No consumer protection. Your capital is at risk.


03. Binance: Best Crypto Exchange With High Spot Trading Volumes 

Binance-crypto-exchange

Binance is the biggest exchange in the industry and is a good fit for advanced traders. It has an impressive selection of coins and a competitive fee structure. High-volume crypto enthusiasts receive access to professional order types and advanced tools. 

This exchange has attractive account features, including OTC trading and rewards. Traders earn up to 10% for holding different coins over time. We do not recommend Binance for new traders. 


04. Coinbase: Best Exchange With A Professional Platform 

coinbase-cryptocurrency-exchange

 

Coinbase is a popular cryptocurrency exchange with a comprehensive portfolio. It offers secure buy, sell, and exchange options for traders at all levels. Coinbase offers 107 coins, rewards on trading, and two proprietary platforms. 

Coinbase Pro is a professional platform with access to a lower fee structure. It has advanced tools and research materials. The standard Coinbase platform is a good fit for new and intermediate traders. 


05. FTX: Best Exchange With Advanced Tools 

ftx-rating

FTX is a secure, centralized exchange with industry-leading advanced tools. It offers fast trading services and an intuitive platform. FTX has a good fee structure with no hidden costs. 

FTX is a good exchange for traders looking for advanced tools. It offers many research opportunities to help advanced traders invest in crypto. It offers NFTs, futures, and margin trading. FTX has a limited crypto selection. 


06. Kraken: Best Bitcoin Exchange 

kraken-exchange-logo

Kraken is an excellent crypto exchange for Bitcoin enthusiasts. This exchange is trustworthy and offers impressive safety measures and protocols. It has an excellent track record in the industry, and it is a top choice for advanced traders. 

Kraken offers a proprietary platform that lets users invest in digital coins. It provides many order types, learning tools, and research materials. The quick buy feature facilitates all transactions. Kraken offers management services for high-net-worth clients. 


How To Choose A Crypto Exchange? 

To choose a crypto exchange, you have to focus on variables such as costs, mobile apps, platforms, deposits & withdrawals, assets, liquidity, security, and customer service. 

Fees: We recommend you don’t use exchanges with high trading fees, overnight fees, and hidden costs. 

Trading Platforms: Avoid exchanges that don’t have an intuitive interface. Crypto trading platforms need to be user-friendly and have fast executing rates. 

Mobile Trading: Mobile trading apps have to offer the same tools and services as their web versions. 

Deposit & Withdrawal: We recommend you choose an exchange with access to your preferred deposit and withdrawal options. Focus on exchanges with transparent fee policies and low funding costs. 

Assets: We recommend you choose a platform with the best asset coverage. Crypto traders should avoid exchanges that don’t offer popular altcoins, such as Ethereum, Tether, Polygon, and Cardano. 

Customer Support: Traders at all levels should watch for knowledgeable customer service available in their language. 

Liquidity: High trading volumes ensure your ability to sell your crypto coins. Choose an exchange with high liquidity and trading volumes. 

Security:  Consider exchanges with top-tier licenses and a clean track record of hack attacks. Always check the safety measures an exchange provider offers. 

*Safety Risks For Colombian Citizens

Trustworthy cryptocurrency exchanges for Colombian citizens are government-regulated and have trading licenses. Larger exchanges are on stock exchanges and banking histories.

Regulation Of Cryptocurrency Exchanges in Colombia

Colombia does not have clear regulations for cryptocurrency exchanges. The Banco de la Republica and the Superintendencia Financiera de Colombia (SFC) oversee Colombia’s financial regulation and market systems. Both authorities state cryptos are not legal tender or traditional investments for institutional investors. 

Is Cryptocurrency trading legal in Colombia?

The SFC states that companies can legally buy cryptos like Bitcoin, but these virtual assets remain unregulated. Virtual coins cannot be used as fiat money and might be subject to taxation. There is no clear legislation or prohibition on the use of cryptos in Colombia. 

How To Start Trading With – Coinmama? 

Coinmama is a popular crypto exchange in Colombia with straightforward services, intuitive platforms, and transparent fees. Here are the steps to follow if you want to start trading with Coinmama. 

Step 1: Access the Coinmama official website 

Open up the Coinmama official website under this link here –  https://www.coinmama.com/

Step 2: Click on the “Sign Up” button 

You’ll have to click on the “Sign Up” button on their main page. Add your email address and county of residence to open a new account. 

Step 3: Verify your Coinmama account 

To buy crypto coins with Coinmama, you have to open an account, pass verification, and make a deposit. This will let you use your account to buy, hold, and sell cryptos. 

Step 4: Buy cryptocurrencies 

You can buy, sell, and hold fractions of a crypto asset after you verify your account. You don’t have to buy the whole coin to own crypto. 

Conclusion

We recommend Coinmama as the best cryptocurrency exchange in Colombia. It offers user-friendly services, intuitive platforms, and no hidden costs. eToro is our second pick because of its powerful exchange, in-house e-wallet, and copy trading services.  

FAQ

What Is A Centralized Exchange? 

A centralized exchange is a private provider with cryptocurrency platforms. It offers services for buying, selling, or holding crypto coins. A centralized exchange is secure and follows strict Know Your Customer rules. 

What Is A Decentralized Exchange? 

 A decentralized exchange (DEX) is a provider without a central control point. It functions as a server, and it keeps an exact copy of the entire exchange on many devices. DEXs function based on an “automated market maker” protocol and uses user-contributed liquidity pools. This lets traders trade without a central trading desk. 
A DEX doesn’t have licenses from regulatory bodies and doesn’t follow any rules. This type of exchange isn’t simple to hack directly but comes with significant safety risks if misused. You risk losing funds if you use a decentralized exchange. 

Can You Trade Crypto In Colombia? 

Yes, you can trade crypto in Colombia. We recommend you use a secure exchange to diminish trading risks. 

Is Colombia Crypto-Friendly?

Yes, Colombia’s capital, Bogota, is the 6th most crypto-friendly country in the world.

Is Crypto Taxed In Colombia?

According to the Colombian Tax Authority, DIAN, crypto-assets are subject to taxes as any other assets held by Colombian citizens.

How Do You Cash Out Cryptos In Colombia?

You cash out cryptos in Colombia with a secure exchange that allows you to sell digital coins for fiat currency.


Disclosure

All trading involves risk. More than 80% of investors lose in spread bet and CFD trading. As these complex instruments allow for the use of leverage, there is a high risk of losing more money than you have deposited. Before attempting to participate in spread bets and CFDs, consider how well you understand them and if you can afford to lose your money.

Disclaimer

eToro is a multi-asset platform that offers both investing in stocks and crypto assets, as well as trading CFDs. Please note that CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage.75% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money. Past performance is not an indication of future results. Cryptoassets are volatile instruments that can fluctuate widely in a very short timeframe and therefore are not appropriate for all investors. Other than via CFDs, trading crypto assets is unregulated and therefore is not supervised by any EU regulatory framework.

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