Just a few months after BTCXchange.ro closed its doors due to security issues, digital currency exchange, BitcoinXRomania, announces Friday its launch, in its attempt “to revitalize the domestic bitcoin market, with a new exchange promising higher security and regulatory measures to ensure history does not repeat itself,” a press release shows.
Powered by Crypto Next, BitcoinXRomania adheres to strong AML, CFT and KYC policies provided by Crypto Next’s Isle of Man-based regulation. Platform representatives appreciate that Romania is a natural landscape for digital currency use, with its national affinity for technology and high level of employment in the IT sector.
The Romanian Financial Supervisory 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.
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.
“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,” BitcoinXRomania founder, Andreas Zabari, assures.
Zabari, who wants to put Romania at the top of Bitcoin usage in Europe, first got involved with Bitcoin last year due to his passion for finance and technology.
“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,” he said.
BitcoinXRomania exchange currently offers services in fiat currencies US Dollar, Euro, British Pound, Bulgarian Lev, Hungarian Forint and Romanian Leu, as well as digital currencies Bitcoin, Dogecoin, Crypto Next Coin and Litecoin.
Last year, Bitcoin value ranged between RON 250 and RON 3405.56.