📊 Key data:

  • More than 252,000 Bolivians already own cryptocurrencies​binance.com.

  • 🚀 The monthly volume of crypto trading grew +105% between July-September 2024 (vs. the previous 18 months)​binance.com.

  • 🔄 Crypto transactions increased +141% in the last quarter​binance.com.

  • 💱 In Binance P2P, the price of USDT hovers around 15 BOB


In Bolivia, the P2P modality of Binance has become key. This peer-to-peer channel offers liquidity and a variety of payment methods, facilitating users to exchange local currency for stablecoins like USDT. Globally, Binance reported 235 million registered users and a record of 30 million new users in 2024​ binance.com, with spot volumes rising +121% to $1.12 trillion in March and derivatives to $2.91 trillion. This global growth is reflected in Latin America, where many traders are migrating to crypto. Although there are no official figures specific to Bolivia, the strong rise in the local market suggests greater daily participation in spot trading, margin, and futures on Binance, in addition to the boom in P2P.

Key economic factors

The accelerated crypto adoption in Bolivia is mainly driven by the local economic crisis. In 2024, inflation closed at nearly 10%​infobae.com (the highest in 16 years), diminishing purchasing power. At the same time, exports and international reserves plummeted, creating a dramatic shortage of dollars​. The informal dollar exceeds 15 BOB (compared to ~6.86 official)​, which has spurred demand for alternatives. In this context, Bolivians are turning to cryptocurrencies as a store of value. USDT, for example, is increasingly used as a “parallel dollar.” As reported by the local newspaper El Deber, USDT has become the main reference for the exchange rate on the streets of Bolivia.

Additionally, factors such as informal dollarization and political uncertainty have pushed many – even the less tech-savvy – towards the crypto ecosystem. According to a Binance report, the growing demand for USDT is driven by the search for alternatives to the boliviano and the dollarization of the economy​. Users buy bolivianos in crypto to then acquire dollars in the street market of neighboring countries​. Thus, tools like Binance P2P allow people to access a “digital dollar” (stablecoin) quickly, bypassing exchange controls and protecting their savings. In summary, the combination of high inflation and lack of real USD is “pulling” the population towards cryptocurrencies​.

Call to action


Want to know more or share your experience? 💬 Tell us in the comments! Do you think stablecoins will help combat inflation? Share this post with your crypto community. 🙌 Follow us and join the debate: your opinion matters. ✨

#Bolivia #BinanceP2P #Inflation #CryptoAdoption #DigitalDollar #Blockchain #Trading