Bitcoin exchange operators are always looking to expand their presence around the world. Chilean trading platform SurBTC has opened up their platform to Colombian customers. This is a major step for the company, as they want to establish a presence in 12 different countries. The South American continent can benefit a lot from Bitcoin adoption, assuming there are convenient ways to buy cryptocurrency.

Seeing SurBTC expand to Colombia is both a surprise and a logical decision at the same time. While there are other ways to buy cryptocurrency in Colombia, an exchange platform may instil more trust. At the same time, the country is unsure as to how they will label Bitcoin, and whether or not there is a need for taxation.

SurBTC Ventures Into Colombian Territory

SurBTC has a plan to expand its presence across all of South America in the coming years. Colombia and Chile are two countries which have not always seen eye to eye on certain matters. Cryptocurrency can bridge this divide between the two nations, as Bitcoin is a global currency. Moreover, cryptocurrency offers anyone in the world complete financial freedom.

All of the services found on the Chilean version of SurBTC will become available to their Colombian counterparts. This includes buying and selling cryptocurrency, as well as being able to use advanced trading features. SurBTC will allow for conversion between Chilean and Colombian pesos, without having to convert to Bitcoin first.

For the first few weeks – or months-  deposits can only be made through bank transfers. Banco de Bogota and Davivienda customers will have no issues buying Bitcoin from the company. Other payment solutions will be added over time. All deposits and withdrawals are processed automatically, seven days per week.

It is rather exciting to see SurBTC expand to Colombia. Not too long ago, the country’s own Colbitex exchange had to shut down temporarily. Some legal matters needed attending to. It will be interesting to see if SurBTC will have to deal with those issues as well.

Header image courtesy of Shutterstock

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About Author

JP Buntinx is a 30-year old FinTech and Bitcoin enthusiast living in Belgium. His passion for finance and technology made him one of the world's leading freelance Bitcoin writers, and he is working to achieve the same level of respect in the FinTech sector.

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