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Wednesday, April 5, 2017

Bitcoin is on the Rise in Romania

Bitcoin is on the Rise in Romania

Demand for bitcoin is growing in Europe’s 12th largest country and so is its bitcoin ecosystem. According to data collected by Coin Dance, trading volumes at peer-to-peer bitcoin exchange LocalBitcoins have increased substantially in Romania in the last 18 months.

LocalBitcoins, however, is not the only bitcoin exchange that has witnessed a surge in demand. Local Romanian digital currency exchange CoinFlux has recently announced that $23.8 million (100 million RON) worth of digital currency has been traded on its exchange since the company’s inception in December 2015.

CoinFlux was founded by former fund manager Vlad Nistor. It enables Romanians to buy and sell bitcoin, ether, litecoin and ethereum classic for the Romanian leu and the euro. While several altcoins are on offer, most of CoinFlux’s trading volumes are centered around bitcoin and ether.

“Most of our transactions in the last quarter involved bitcoin (89 percent), but we have witnessed an increase in interest in other currencies, especially ether,” Nistor stated.

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