Adoption and Use of Cryptocurrencies in the Colombian Financial Environment

Abstract

This article studies how cryptocurrencies are being adopted in the financial contexts of different user groups in Colombia, using a qualitative approach supported by case studies and a literature review. The research was conducted to study the development of adoption processes, perceptions of utility, and the changes that both the daily management of money (especially in sectors where digitization is beginning to spread as an alternative to traditional banking mechanisms) and the integration of digital asset solutions could entail. To this end, the experiences, opinions, and motivations of participants with varying levels of exposure to the technology were explored, facilitating the identification of adoption patterns related to access to digital tools, familiarity with emerging financial platforms, and the exploration of new economic opportunities. The results reveal that cryptocurrency market adoption is not uniformly positive and is influenced by prior knowledge, trust in virtual environments, the ability to analyze and assess risks, and the willingness to try new forms of exchange. Similarly, it is observed that users with experience in fintech applications access these assets more easily, in contrast to new participants entering the digital ecosystem for the first time, who require a longer learning process to strengthen their understanding and responsible use. The research concludes that cryptocurrencies are an emerging scenario of financial transformation that promotes innovative practices in resource management and provides new forms of economic exchange among citizens. Furthermore, the evolution of their use will depend on the level of access to reliable information, the development of digital skills, and users' ability to incorporate these tools into their daily economic decisions, ultimately establishing them as a relevant component within the country's growing digital economy.