In Colombia, inflation is fought with the help of stablecoins

Inflation in Colombia reached 13.12% at the close of this year, being the highest of the century and putting the pockets of citizens at risk. In this uncertain economic situation, people are looking for new ways to protect their money, and Stablecoins (stable coins) have become a strategic option.

According to Andrés Gómez, country manager of CryptoMarket in Colombia, "in light of the loss of purchasing power and the weakening of the peso due to inflation, ordinary citizens are evaluating different alternatives to take care of their money and in this context, Stablecoins gain strength as a digital means of exchanging money and investing, especially considering that assets such as the US dollar or gold offer greater protection."

In Latin America, the use of cryptocurrencies for daily purchases and transactions is already a reality. Last year, at least 33% of Latin Americans used cryptocurrencies to make daily purchases and 51% made transactions with this currency, according to the Mastercard New Payments Index 2022.

In Colombia, there are various platforms and firms that provide the service of buying and selling cryptocurrencies, such as CryptoMarket, Bitso, Binance, Buda, Panda, Gemini, Banexcoin, Obsidian and Bitpoint. To start in the crypto world, you must be of legal age, open an account on one of these platforms, validate your identity and start buying cryptocurrencies using local currency. With a few clicks, you can access an offering of 50 types of cryptos, including Bitcoin, Ether, Cardano, Solana and Stablecoins such as USDT, USDC and Pax Gold.

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