Key Takeaways
- Approximately 1.28 million Peruvians (3.7% of the population) own cryptocurrencies as of February 2025.
- Over 50% of Peruvians are unbanked, leading to the rise of Bitcoin micro-economies in remote areas.
- Platforms like UPay, crypto wallets, prepaid cards, and ATMs facilitate crypto spending in Peru.
- Despite growing interest, most businesses prefer cash or card payments over crypto.
- Unclear laws and lack of legal protections hinder widespread crypto adoption.
An Overview of Crypto Spending in Peru
Cryptocurrency spending in Peru has grown alongside its adoption, with more businesses and individuals using digital assets for transactions. As of February 2025, approximately 1.28 million Peruvians (3.7% of the population) own cryptocurrencies, showing a rising interest in using crypto for everyday payments.
In 2021, Peru experienced a 613% increase in cryptocurrency transactions compared to the previous year, with trading volumes surpassing $42 million in the first half of the year. This surge was influenced by rising inflation and political instability, leading many Peruvians to view cryptocurrencies as a hedge against economic uncertainty.
The Peruvian government recognized this growing interest and, in August 2024, implemented regulations focusing on preventing money laundering and terrorism financing within the crypto sector. Despite these regulatory efforts, a significant portion of the population remains unbanked, with over 50% lacking access to traditional banking services. This has led to the emergence of Bitcoin micro-economies in remote regions, providing financial inclusion opportunities for these communities.
Peru’s cryptocurrency landscape is rapidly changing, with increasing adoption rates, supportive regulatory developments, and innovative solutions to aid financial inclusion.
Best Places to Spend Crypto In Peru
| S/N | Best Places to Spend Crypto in Peru | Categories |
| 1. | Taki Tambo Lodge | Hotels and Accommodation |
| 2. | Casa Aymara | Hotels and Accommodation |
| 3. | La Bodega Verde | Food and Drinks |
| 4. | Café Ayllu | Food and Drinks |
| 5. | Inmobiliaria Salazar | Real Estate |
Taki Tambo Lodge
Supported Crypto: Bitcoin
Located in Tarapoto, Taki Tambo Lodge is the perfect place for anyone who wishes to stay in a pleasant place, in optimal conditions of tranquillity and closeness to nature without being too far from the city and its many services – and they welcome Bitcoin enthusiasts! While they don’t have a directly integrated solution yet, guests can arrange to pay for their stay in Bitcoin by contacting the lodge directly.
Aymara Hotels
Supported Crypto: Bitcoin
Casa Aymara is a hotel which has everything that you need to make your stay a unique experience based on their most important principle, affordability. With rooms decorated with Aymara details of fine fabrics in wool of sheep and alpaca, Casa Aymara accepts Bitcoin payments and aims to give you a good experience throughout your stay.
La Bodega Verde
Supported Crypto: Bitcoin
Situated in Lima, La Bodega Verde offers a nice and quiet place to hang out with friends, read a book, work on your laptop, be with your pet, or just take the time to be with yourself in a beautiful small garden while enjoying a nice cup of coffee or tea. They also offer a great variety of sandwiches, salads, smoothies, desserts, fresh juices, quiches, and other healthy options (vegan, gluten-free, and vegetarian) for lunch, breakfast, and dinner at reasonable prices and accept Bitcoin payments for its range of organic products and beverages.
Café Ayllu
Supported Crypto: Bitcoin
Café Ayllu is one of Cusco’s oldest and most traditional cafes. It was opened in 1970 on Cusco’s main square, Plaza de Armas, by local couple Manuel and Zeila. This café is a favourite with locals and is open at peak times. It is definitely worth a visit if you want a glimpse into local culture and a great coffee or snack. Plus, it accepts cryptocurrency payments.
Inmobiliaria Salazar
Supported Crypto: Bitcoin
Inmobiliaria Salazar, a leading real estate agency in Peru, has integrated digital currencies into its sales model. They allow buyers to use cryptocurrencies to pay for property purchases, rentals, or appraisals.
Tools for Spending Crypto in Peru
Source: FreePik
As Peru’s cryptocurrency ecosystem continues to grow, several tools have emerged to make it easier than ever to spend digital assets. These include:
Payment Platforms
Crypto payment platforms help businesses accept digital currencies by facilitating seamless transactions. These platforms act as intermediaries, allowing merchants to either convert crypto into local currency or process direct cryptocurrency payments. One such platform is UPay, which offers secure and efficient solutions for using digital assets.
Crypto Wallets
Crypto wallets are essential for securely storing, managing, and transacting digital currencies. A reliable wallet allows users to send and receive funds easily. This makes everyday crypto payments more convenient in Peru.
Crypto Prepaid Cards
Crypto prepaid cards function like traditional debit or credit cards but are funded with cryptocurrencies. They enable users to make payments at any merchant that accepts standard card transactions by automatically converting crypto to fiat at the point of purchase. UPay crypto cards provide a seamless way to use digital assets for daily expenses such as shopping and dining.
Crypto ATMs
Crypto ATMs allow users to buy or sell cryptocurrencies using cash, debit cards, or other payment methods. They work similarly to traditional ATMs but facilitate cryptocurrency transactions instead of fiat withdrawals. Peru has six Bitcoin ATMs, all located in Lima. These machines allow users to buy and sell various cryptocurrencies, including Bitcoin (BTC), Ether (ETH), Litecoin (LTC), and Tether (USDT).
Tips for Spending Crypto in Peru
Source: FreePik
As cryptocurrency adoption grows in Peru, using digital assets for everyday transactions is becoming easier. However, to ensure smooth and secure payments, some key tips are:
Find Crypto-Friendly Businesses
While crypto adoption is still limited in Peru, some businesses—especially in tourism, hospitality, and tech—accept digital currencies. Before visiting, check a business’s website or crypto directories to learn about the best places to spend your cryptocurrencies in Peru.
Use Trusted Crypto Payment Platforms
Since many merchants don’t accept direct crypto payments, platforms like UPay can help convert crypto into Peruvian Soles (PEN) when needed. This allows you to access businesses that only accept fiat.
Choose the Right Crypto Wallet
A secure crypto wallet is essential for storing and spending digital assets. Consider wallets that support Solana, Bitcoin, and Ethereum, as these are among the most commonly used in Peru. Mobile wallets with QR code payment options are also beneficial for in-person transactions.
Be Aware of Crypto ATMs and Exchanges
In major cities like Lima, crypto ATMs allow you to convert Bitcoin or other cryptocurrencies into cash. Using local exchanges can also make switching between crypto and fiat easier when necessary.
Challenges in Spending Crypto in Peru
Source: FreePik
Cryptocurrency is gaining traction in Peru, with more people and businesses exploring its potential. However, using digital assets for everyday transactions still presents challenges.
Limited Merchant Adoption
Despite increasing interest in cryptocurrency, most businesses in Peru do not accept crypto payments. While some hotels, restaurants, and online services support digital currencies, mainstream retailers and small businesses still prefer cash or card transactions. This forces crypto users to rely on crypto ATMs or peer-to-peer (P2P) exchanges to convert crypto into Peruvian Soles (PEN) before making a purchase.
Unclear and Evolving Regulations
Peru does not have strict laws banning crypto, but the government has not fully regulated its use either. This uncertainty makes many businesses hesitant to accept digital currencies, fearing potential tax implications or future legal restrictions. Additionally, since crypto transactions are not protected under Peruvian law, users have no official recourse in case of fraud or disputes.
Limited Access to Crypto ATMs
Crypto ATMs can make it easier to convert digital assets into cash, but Peru has very few of them. While some Bitcoin ATMs exist in Lima, they are not widespread. This makes it difficult for crypto users outside major cities to access instant cash withdrawals.
Conclusion
Spending cryptocurrency in Peru is becoming easier as more businesses embrace digital payments. While adoption is still in its early stages, several hotels, restaurants, and services already accept crypto, making it possible to use digital assets for everyday transactions.
As Peru’s crypto landscape continues to change, it’s expected that even more businesses to join the movement, offering greater convenience for crypto users. Until then, having the right tools—like crypto wallets, prepaid cards, and payment platforms—can help bridge the gap and make spending crypto in Peru a seamless experience.
FAQs
- Are crypto payments legal in Peru?
Yes, cryptocurrency payments are legal in Peru. However, the regulatory framework is still evolving, and the government or financial authorities do not fully regulate cryptocurrencies.
- Can I use cryptocurrency for everyday purchases in Peru?
Yes, you can use cryptocurrency for everyday purchases in Peru, but adoption is still in its early stages. Some businesses, such as hotels, cafes, and real estate agencies, have started accepting crypto payments.
- What payment platforms can I use to spend crypto in Peru?
To spend cryptocurrency in Peru, you can use platforms like UPay, which allows you to convert crypto into Peruvian Soles (PEN) for use at merchants that do not accept direct crypto payments.
- How can I convert crypto into Peruvian Soles?
There are several ways to convert cryptocurrency into Peruvian Soles (PEN). They include crypto ATMs, exchanges, or platforms like UPay.
- What cryptocurrencies are commonly used in Peru?
The most commonly used cryptocurrencies in Peru include Bitcoin (BTC), Ethereum (ETH), Solana (SOL), and Tether (USDT). These are widely recognized and accepted for transactions, investments, and remittances due to their liquidity and stability.
