How to Buy Cryptocurrency in Moldova
Buying cryptocurrency in Moldova
After the adoption of the national currency- the Moldovan leu, the former state of the Soviet Union has struggled with large inflation rates and economic turbulence. Moldova’s economy has been slowly recovering since then, and, unfortunately, the country is still regarded as one of the poorest countries in Europe. Because of these circumstances, many Moldovan citizens are looking to cryptocurrencies as a way out of this economic mess. Moldova’s economy depends on agriculture and the country lacks industry. The country mostly imports natural gas and oils for electricity, so mining doesn’t seem a likely possibility in Moldova. Having in mind the high electricity rates in Moldova, those thinking about taking up Bitcoin mining should definitely reconsider. However, in a breakaway territory of Moldova called Transnistria, mining activities were legalized. This self-proclaimed republic offers promises of tax exemption, energy-supply assistance, along with import and export of mining equipment, which is duty-free.
As of 20/03/2021
These exchanges all accept customers from Moldova. While they broadly offer the same services and you can buy cryptocurrency at all of them, there can be differences in transaction fees, security, verification requirements, deposit methods and features, as shown below
Operating since 2012, Bitfinex has a huge range of coins and trading pairs, a good user interface and low trading fees.
- Very low trading fees
- Large range of coins and trading pairs
- High liquidity
- Slow account verification
- Two major hacks
OKEx is the second-largest cryptocurrency exchange in the world by volume. It posts over $2 billion in trades daily and has over 400 trading pairs.
- Good range of coins
- DEX trading
- No hacking history
- Not available in US
- KYC required
Founded in 2017, KuCoin has already managed to establish itself as â€śThe Peopleâ€™s Exchange.â€ť With 200+ cryptocurrencies and more than 400 markets, it has become one of the hubs for cryptocurrency trading.
- Vast selection of altcoins
- Ability to stake & earn crypto yields
- Robust security features
- No forced KYC checks
- No fiat currency deposits
- Trading volume is low
Changelly allows you to trade cryptocurrency without registration or verifying the identity through KYC. Being a non-custodial exchange, Changelly doesnâ€™t require you to keep any deposits. The platform also works as a fiat-to-crypto gateway.
- Non-custodial exchange
- Great way to switch altcoins
- Doesnâ€™t require extensive KYC
- 2FA security and high exchange limit
- A high transaction fee of 0.5%
- Unclear owners
- Sometimes their service is quite slow
Kraken has a good reputation for security and protection of your funds and operates across the USA (except NY), Canada, the EU and Japan
- It can be used to trade against fiat options
- Robust security measures
- Free SEPA deposits in Europe
- Not a very beginner-friendly interface.
- No card deposit options