How to Buy Cryptocurrency in Romania
Buying cryptocurrency in Romania
The first Romanian Bitcoin ATM opening in 2014 suggested the country’s early interest in cryptocurrencies. Unfortunately, this is diminished by the fact that a developed framework for cryptocurrency regulation in Romania is still nowhere as developed in its other European counterparts. Since Bitcoins aren’t issued by official bodies, they aren’t considered a currency under Romanian law. Therefore, Bitcoin is described as a transferable good for which any transaction implying a Bitcoin payment is deemed a trade. Cryptocurrency profits are subjected to income or even capital gains tax at a 10% flat rate. There aren’t any clear indications for cryptocurrency regulation for personal use except for the warning of Romania’s National Bank regarding the risk of cryptocurrencies. More regulations will be discussed in the future as Romania’s market continues to grow. Proof of Romania’s interest in cryptocurrency lies in the fact that, according to Statista’s study, 12% of Romanians own cryptocurrency.
As of 20/03/2021
Exchanges Info
These exchanges all accept customers from Romania. 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
Binance
Binance is one of the largest crypto exchanges with low fees, 100s of coins, and high trading leverage. It is one of the easiest & cheapest exchanges for crypto trading.
Hundreds of coins and pairs
- Very low fees
- High liquidity
No US residents
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68% of retail CFD accounts lose money. Cryptoassets are unregulated in some EU countries and the UK. No consumer protection. Your capital is at risk. US Residents - eToro USA LLC does not offer CFDs, only real Crypto assets available.
eToro
eToro is a social trading platform that allows you to buy into cryptocurrencies, international stocks and shares and more complex financial assets. It also has an innovative Copy Trader feature where you can choose to follow other successful traders and automatically copy their trades to hopefully share in their success
- Fully regulated financial institution
- Trade crypto, stocks and other financial assets
- Follow and copy the trades of expert traders
- Fees (spreads) are high
- Only USD as base currency
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Bybit
Based in Singapore and registered in the British Virgin Islands, Bybit is a P2P cryptocurrency exchange offering perpetual futures products with 100:1 leverage. Bybit can process 100k transaction per second which is a great feature for leveraged trading.
- Advanced and secure technology
- Anonymous accounts
- Attractive trading bonuses
- Very low fees
- Limited asset coverage
- No option instruments
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Kraken
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
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Uphold Disclaimer: Asset availability on the Uphold platform is subject to region. All investments and trading are risky, and may result in the loss of capital. Cryptoassets are largely unregulated and are not subject to protection
Uphold
Based in Charleston, South Carolina. Serves over 184 countries and has done over $4 billion in transactions. Offers convenient options to swap between crypto, fiat, equities, and precious metals.
- Open to US residents
- Integrated with Brave Browser
- Over 50 different coins
- Also offers precious metals and equities
- Convenient and cheap deposit/withdrawal methods
- High trading fees
- Smaller coin selection compared to some
- No Paypal withdrawal option
- No instant debit card withdrawals
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