BitcoinXRomania is Romania’s Second Shot at a Bitcoin Exchange
, June 25, 2015 at 10:03 BST
Digital currency exchange, BitcoinXRomania, announces its launch today, providing individuals and merchants in Romania with a platform on which to exchange both fiat currency and cryptocurrencies.
Romania is a natural landscape for digital currency use, with its national affinity for technology and high level of employment in the IT sector. BTCXchange.ro, Romania’s failed bitcoin exchange, reportedly amassed 3000 user accounts and a daily trade volume of 50 BTC during its short operational period, which demonstrates the country’s market potential.
Just a few months after BTCXchange.ro closed its doors due to security issues, BitcoinXRomania intends to revitalize the Romanian bitcoin market, with a new exchange promising higher security and regulatory measures to ensure history does not repeat itself.
Powered by Crypto Next, BitcoinXRomania adheres to strong AML, CFT and KYC policies provided by Crypto Next’s Isle of Man-based regulation. The Romanian Financial Supervision Authority (ASF) has not yet provided regulation of crypto currency, and one of BitcoinXRomania’s main strengths is that it utilizes the legal and regulatory framework of a country that does.
BitcoinXRomania Founder, Andreas Zabari, says “Romanians need to feel extremely secure about a new local bitcoin exchange after having been exposed to a security issue in the past. The Crypto Next platform, with its global network of exchanges, Isle of Man regulation and cutting edge security technology from Israel, should provide peace of mind to Romanian users.”
Professional entrepreneur Andreas Zabari first got involved with Bitcoin last year due to his passion for finance and technology. He says “I knew that Bitcoin has the power to really change something on a big scale. Bitcoin lifts restrictions imposed on people and brings them the freedom of handling their money as they wish, without having to pass through middle men… Bitcoin is not a replacement for banking in my opinion, but the banking mechanism of the new generation.”
The BitcoinXRomania exchange currently offers services in fiat currencies US Dollar, Euro, British Pound, Bulgarian Lev, Hungarian Forint and of course Romania New Leu, as well as digital currencies Bitcoin, Dogecoin, Crypto Next Coin and Litecoin.
Swiss educated Andreas Zabari’s macro vision for BitcoinXRomania is to put Romania at the top of Bitcoin usage in Europe, by educating local people about Bitcoin and offering a safe exchange with a strong regulatory framework. He says “With the Crypto Next wallet and upcoming merchant solutions, Bitcoin implementation in Romania could increase drastically. Perhaps within a few years with legislation by the Romanian government, its citizens might be able to pay their utility bills and taxes with Bitcoin. That would make Romania a truly modern nation and set an example for others to follow."
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