Bitcoin payments rapidly growing popular in Romania

bitcoin romania

Paradoxically, crypto-currency is becoming increasingly popular among business individuals and BTC community members of the poorest country of the European Union.

Despite the fact that the financial regulators of the EU issued a formal warning about the dangers of the usage of digital currencies in Romania, Bitcoin payments gain new enthusiasts in this country every single minute.

For the first seven months of manipulations, BTCXchange, the first Romanian crypto-currency exchange market has conducted transactions worth more than half a million euros, with the customer base now exceeding 2,000 members. Besides that, there is now a successfully operating Bitcoin-ATM in Bucharest.

Following the European financial authorities, several weeks ago the Central Bank of Romania released its own warning about the risks associated with Bitcoin. According to experts, though, this statement did not affect the overall positive attitude of the country’s entrepreneurships to Bitcoin.

In the estimation of analytics, Romania is currently in the process of post-communist development, with the share of the shadow economy being relatively high. It causes high risk of financial fraud and strong distrust of local authorities among business individuals. In addition, according to authoritative research, Romania ranks second after China in terms of hacker attack threat.