Colombians will be able to buy cryptocurrency at the bank

Colombians will soon be able to buy cryptocurrencies using bank accountsas easy as any other product.

American regulated crypto exchange Geminiannounced that it has completed the necessary developments for this project, which will allow Colombians to buy cryptocurrencies with funds held in their Bancolombia accounts.

This partnership is essential todevelopment of the local crypto industry, as Bancolombia is the largest bank in the country with aggregate assets in 2020 of about $ 275.76 billion and more than 16 million users.

This step is important because it will provide an unimpeded exit for millions of Colombians into the cryptocurrency world. However, while the service is available to a limited number of users.

The project will last a year, it starts on December 142021 year. During this time, users will be able to buy Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC) and Bitcoin Cash (BCH) on Gemini using their Bancolombia accounts.

The trading platform will be responsible for processing cryptocurrency transactions, and Bancolombia will handle the movement of any amount in the official currency of the country, Colombian pesos.

The project is being implemented within the framework of the regulatorySandboxes designed to stimulate innovation in financial services. Within its framework, startups receive certain advantages from regulators and test the viability of their ideas in the absence of bureaucracy and legal obstacles.

Director for Strategy and Corporate DevelopmentGemini Cynthia Del Pozo commented on the collaboration on the official blog, noting that the crypto industry can help expand the economies of many Latin American countries:

Cryptocurrencies are inherently borderless, andwe strive to expand access to it for people around the world. We believe that cryptocurrency can play an important role in the development of Latin America, as the interest in blockchain and innovative technologies is characteristic of the entire region.

As we continue our mission of building the future of finance, we invite organizations across Latin America that are exploring the potential of cryptocurrencies to contact us.

Where is it more profitable to buy cryptocurrency? TOP-5 exchanges

For a safe and convenient purchase of cryptocurrencies with a minimum commission, we have prepared a rating of the most reliable and popular cryptocurrency exchanges that support deposits and withdrawals of funds inrubles, hryvnias, dollars and euros.

The reliability of the site is primarily determinedtrading volume and number of users. By all key metrics, the largest cryptocurrency exchange in the world is Binance. Binance is also the most popular crypto exchange in Russia and the CIS, since it has the largest cash turnover and supports transfers in rubles from bank cardsVisa / MasterCardand payment systemsQIWI, Advcash, Payeer.

Especially for beginners, we have prepared a detailed guide: How to buy bitcoin on a crypto exchange for rubles?

Rating of cryptocurrency exchanges:

#	Exchange:	Website:	Rating:
1	Binance (Editor's Choice)	https://binance.com	9.7
2	Huobi	https://huobi.com	7.4
3	Exmo	https://exmo.me	6.9
4	OKEx	https://okex.com	6.5
5	Bybit	https://bybit.com	6.3

The criteria by which the rating is set in our rating of crypto-exchanges:

• Work reliability— stability of access to all functions of the platform, including uninterrupted trading, deposits and withdrawals of funds, as well as the duration of the market and daily trading volume.
• Commissions– the amount of commission for trading operations within the platform and withdrawal of assets.
• Additional features and services— futures, options, staking, NFT marketplace.
• Feedback and support– we analyze user reviews and the quality of technical support.
• Convenience of the interface– we evaluate the functionality and intuitiveness of the interface, possible errors and failures when working with the exchange.
• final grade– the average number of points for all indicators determines the place in the ranking.

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