Eastern Europeans and crypto

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Romania has until recently been an area where there were many uncertainties and confusion when it comes to the trading of cryptocurrency. The increase in interest has been shown as we have been asked to examine and advise on the position in Romania both for local companies as well as companies from countries where there are established markets and trading.

 

##The basics of crypto

currency

Cryptocurrency is a new form of currency that has evolved from the traditional currencies like USD, EUR etc. It can be traded on platforms and exchanged for fiat (traditional) money or another cryptocurrency. The original intention was to provide a way for people with no access to banking services such as those in developing countries, but there are now plenty of these available.

There are many benefits to using cryptocurrencies, and these include:

*security – the transactions can’t be tampered with because they use cryptography (which is used for military purposes) which makes it impossible to change or replicate them without having the original private key;

*transparency – all cryptocurrency transactions that take place are made public so you know exactly what is going on at any particular moment;

*privacy - there isn't a need for third-party verification like banks because only those involved in the transaction will have access and see details of how much was transferred between accounts. Unlike traditional banking where one account number may transfer money from another bank account.

##How to buy cryptocurrency in Romania

There are many ways to buy cryptocurrency in Romania, but the easiest is probably with an ATM. There are ATMs that sell Bitcoin and Ethereum all over major cities like Bucharest, Cluj-Napoca or Timisoara. The best thing about using an ATM for this purpose is that you don't have any risks of being scammed because these machines work just like regular cash dispensers at a bank but with one big difference: they exchange your physical money into cryptocoins (like Bitcoin).

You can also buy them on online exchanges such as Coinbase: you pay by card or through PayPal and then link it up with your Romanian account so when there's enough funds available in your local currency the system will automatically convert it into crypto.

Also, you can buy bitcoins from people on the street or at a university, but this is not advisable because you don't know what they're selling and if their intentions are legit

Regulation and Society adoption

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