Summary
Cryptocurrency is legal in Romania, with a supportive regulatory environment. The National Bank of Romania oversees crypto regulations. Popular payment methods include bank transfers and cards. The Romanian leu (RON) is widely supported. Key regulatory bodies include the Financial Supervisory Authority (ASF) and the National Office for Prevention and Control of Money Laundering (ONPCSB). Here are the best crypto exchanges in Romania:
Best Crypto Exchanges in Romania
This article examines the top crypto exchanges available in Romania, focusing on their features, supported cryptocurrencies, and compliance with local regulations. We’ll explore the exchanges that offer the best services for Romanian users, including support for the Romanian leu (RON) and preferred payment methods such as bank transfers and card payments.
1. Bitstamp
Users:
2m
Free Demo:
Mobile App:
Bonus:
None
Cryptos:
80+
Leverage:
Not Supported
Spot Fees:
0.3%/0.4%
Futures Fees:
Not Supported
Pros
- Great reputation
- Great customer support
- Reputable with over 100 million users
- Comprehensive fiat deposit methods
- Great wallet for on-chain access
Cons
- Lacks advanced features
- Very high spot trading fees
- Poor liquidity
Bitstamp Overview
Bitstamp is one of the industry’s oldest and most reputable cryptocurrency exchanges. Since its launch in 2011, the exchange has built a reputation for reliability, security, and transparency.
The platform supports over 80 cryptocurrencies including BTC, ETH, and USDT for spot. Users can access fees as low as 0.3% for makers and 0.4% for takers on the spot market.
Bitstamp uses a tiered fee structure that can help reduce fees to 0% for makers and 0.03% for takers on the spot market, and also reduce futures fees to 0% for makers and 0.006% for takers based on 30-day trading volume.
Another thing about Bitstamp is that it offers crypto staking and crypto lending as a means of earning passive income on the platform. These and many more make Bitstamp an attractive choice for active traders.
2. Bybit
Users:
40m
Free Demo:
Mobile App:
Bonus
$30,000
Cryptos:
600+
Leverage:
100x
Spot Fees:
0.1%
Futures Fees:
0.02%/0.055%
Pros
- Low fees
- 600+ supported crypto assets
- 100x leverage and deep liquidity
- Advanced order types and additional features
- Great 24/7 customer support
- Automated copy trading
Cons
- Regulatory uncertainty in Europe and USA
- May be confusing for beginners
- Cryptocurrency investments carry high risks
Overview
Bybit stands out as one of the most advanced crypto exchanges with deep liquidity and low fees. Bybit users can trade Spot, Futures, Options, NFTs, and even Inscriptions. Additionally, Bybit offers copy trading and bot trading to automate your income streams. Bybit copy trading is one of the best in the crypto industry.
Where Bybit excels is its derivatives platform with 320+ perpetual futures contracts and up to 100x leverage. With advanced order types such as TWAP or Iceberg orders, Bybit caters to experienced traders seeking the best options.
On the spot market, Bybit supports over 500 cryptos and up to 10x margin, making Bybit a versatile crypto exchange.
With low fees of 0.1% maker and 0.1% taker for spot trading and 0.02% maker and 0.055% taker for futures trading, Bybit has highly competitive fees. To top it all off, Bybit offers fee discounts based on your 30-day trading volume. The more you trade, the more you save.
3. Kraken
Users:
10m
Free Demo:
Mobile App:
Bonus:
None
Cryptos:
220+
Leverage:
100x
Spot Fees:
0.25%/0.4%
Futures Fees:
0.02%/0.05%
Pros
- Very beginner-friendly
- Low futures trading fees
- Free demo trading
- Fiat supported
- 24/7 customer support
- Fully regulated
Cons
- High spot trading fees
- Lacks advanced features
- Poor liquidity for futures trading
- Complicated Demo trading
Kraken Overview
Kraken stands out as one of the most beginner-friendly crypto exchanges. With an easy to understand UI, simple features, and a straightforward approach, Kraken has onboarded over 10 million users to its platform from all around the world.
Spot traders can access over 220 cryptocurrencies for buying and selling. For traders seeking more buying power, Kraken offers a leverage trading platform with up to 50x leverage on selected assets such as BTC.
In terms of fees, Kraken has a different approach for spot and futures trading. While spot trading fees are relatively high (0.25% maker and 0.4% taker), the futures fees are very low (0.02% maker and 0.05% taker). Based on your 30-day trading volume, you can obtain additional fee discounts.
What we love about Kraken is its comprehensive fiat support. You can deposit funds using your credit card or bank transfer. Once you are done trading, you can withdraw fiat currencies such as EUR or USD back to your personal bank account to lock in your profits.
4. BitPanda
Users:
3m
Free Demo:
Mobile App:
Bonus:
None
Cryptos:
200+
Leverage:
3x (Spot Margin)
Spot Fees:
0.25%
Futures Fees:
Not Supported
Pros
- Most beginner-friendly exchange
- Fully regulated and licensed in EU
- Great customer support
- Reputable with over 100 million users
Cons
- Lacks advanced features
- Very high trading fees
- No futures trading
- Not suitable for active crypto traders
Bitpanda Overview
Bitpanda is one of the oldest crypto trading platforms located in Austria. Since its launch in 2014, Bitpanda has been offering premium crypto services including access to over 3000 digital assets like crypto, stocks, precious metals, and crypto indices.
Users can access fees as low as 0.25% for both makers and takers on spot trading. The fees can be reduced to as low as 0% for makers and 0.01% for takers depending on your 30-day trading volume.
What sets Bitpanda apart is its user-friendly trading experience. Whether you’re a beginner or an experienced trader, you’ll find everything you need to trade in Bitpanda Pro.
You’ll have access to real-time candlestick charts and a trading terminal. You’ll also have access to advanced order types, an order book, and more. Additionally, Bitpanda provides 2x leverage with margin close-out controls that trigger at 50% of the original margin.
5. Uphold
Users:
3m
Free Demo:
Mobile App:
Bonus:
None
Cryptos:
200+
Leverage:
Not Supported
Spot Fees:
1.4%
Futures Fees:
Not Supported
Pros
- Beginner-friendly exchange
- Fully regulated and licensed in the US
- Great customer support
- Comprehensive fiat deposit methods
- Passive income products
Cons
- Lacks advanced features
- Very high spot trading fees
- Poor liquidity
- No futures trading offered
Uphold Overview
Uphold is a versatile crypto trading platform that allows users to trade a wide range of assets, including cryptocurrencies, precious metals, fiat currencies, and U.S. equities. The platform provides access to over 250 digital currencies and allows users to trade in fiat currencies and precious metals.
What makes Uphold special is its Cross-Asset Trading feature. Users can trade directly between different asset classes (e.g., BTC to gold) without first converting to a fiat currency.
Trading fees vary depending on the type of asset that you are trading. However, Upholding fees are very high compared to industry standards.
Users have access to crypto staking, generating yields of up to 13% of your initial asset deposit.
Additionally, Uphold offers a trading interface appealing to beginners who want to buy and hold crypto assets. It doesn’t provide advanced trading tools and isn’t suitable for day trading, making it less ideal for experienced traders.
Is Crypto Legal and Regulated in Romania?
Cryptocurrency is legal in Romania, and the country has adopted a relatively progressive stance towards digital assets. The primary regulatory body overseeing crypto-related activities is the National Bank of Romania (BNR). In 2019, Romania implemented the EU’s 5th Anti-Money Laundering Directive (AMLD5), which brought cryptocurrency service providers under regulatory supervision.
The Financial Supervisory Authority (ASF) has also issued warnings about the risks associated with crypto investments but has not imposed strict regulations. Romania’s National Office for Prevention and Control of Money Laundering (ONPCSB) requires crypto exchanges to register and comply with AML/CFT regulations.
In 2021, Romania approved a bill to establish a regulatory framework for issuing electronic money, demonstrating the country’s commitment to embracing digital financial innovations. However, it’s important to note that while cryptocurrencies are legal, they are not considered legal tender in Romania.
Is Crypto Taxable in Romania?
Cryptocurrency is subject to taxation in Romania. The Romanian Fiscal Code classifies crypto gains as income from other sources, which are taxed at a flat rate of 10%. This applies to both individual and corporate crypto traders.
For individuals, the tax is applicable when converting cryptocurrency to fiat currency. Gains from crypto-to-crypto transactions are not taxable until converted to fiat. Traders must report their crypto income in their annual tax return if it exceeds 200 RON (approximately €40) in a fiscal year.
Companies dealing with cryptocurrencies are subject to the standard corporate income tax rate of 16% on their profits. Additionally, they must pay social security contributions on crypto-related income.
It’s worth noting that Romania does not have specific regulations for crypto mining. However, income from mining activities is likely to be treated as self-employment income and taxed accordingly.
Disclaimer:
Tax laws are subject to change, and individual circumstances may vary. It is strongly advised to consult with a qualified tax professional or financial advisor for personalized guidance on cryptocurrency taxation in Romania.
How to Buy Crypto in Romania
Purchasing cryptocurrency in Romania has become increasingly accessible. We recommend using Bitstamp, our top-rated exchange, for buying crypto in Romania. Here’s a step-by-step guide to help you get started:
- Choose a Reliable Crypto Exchange: Opt for a trustworthy platform that caters to Romanian users, like Bitstamp. Ensure that the exchange supports your preferred payment options and adheres to local KYC regulations.
- Create an Account and Verify Your Identity: Sign up on your selected exchange. Complete the KYC verification by submitting necessary documents, which usually include identification and proof of residence.
- Fund Your Account: Deposit funds into your account using Romanian lei (RON). Common payment methods in Romania include SEPA transfers, international wire transfers, and credit or debit cards. Some exchanges also accept local payment methods like Transfond.
- Choose Your Cryptocurrency: Select the digital asset you wish to buy. Popular choices include Bitcoin (BTC), Ethereum (ETH), and stablecoins like Tether (USDT) or USD Coin (USDC).
- Complete Your Purchase: Execute a market or limit order to acquire your desired cryptocurrency. Before finalizing your transaction, review the details, including any applicable fees.
- Secure Your Assets: Once you’ve made your purchase, you can leave your cryptocurrency in the exchange wallet for short-term trading. For long-term storage or larger holdings, it’s advisable to transfer your assets to a secure personal wallet.
Stay updated on the latest regulations and tax requirements concerning cryptocurrency transactions in Romania. Always prioritize security by enabling two-factor authentication on your exchange account and using strong, unique passwords.
Best Crypto Wallets in Romania
Choosing a secure and user-friendly crypto wallet is essential for crypto enthusiasts in Romania. Here are some top wallet options tailored for Romanian users:
Hardware Wallets:
- Ledger Nano X: Known for its high-level security, Ledger offers the Nano X and Nano S models, both supporting a wide variety of cryptocurrencies.
- Trezor Model T: Trezor wallets, including the Model T and Trezor One, are favored for their intuitive design and strong security features.
Software Wallets:
- Trust Wallet: This mobile wallet is versatile and supports multiple blockchains, making it a great option for DeFi fans.
- Exodus: With an easy-to-navigate interface, Exodus is available on both desktop and mobile, supporting an extensive range of cryptocurrencies.
Web Wallets:
- MetaMask: This wallet is crucial for users looking to engage with Ethereum-based decentralized applications (DApps) and manage ERC-20 tokens.
When selecting a wallet, prioritize aspects such as security, supported cryptocurrencies, and user-friendliness. For those holding significant amounts or planning for long-term storage, hardware wallets are highly recommended. In contrast, software wallets provide convenience for everyday transactions.
To ensure wallet security, adopt best practices like backing up your recovery phrase, using strong passwords, and regularly updating your software. Keep in mind that wallet providers do not have access to your private keys, so it’s vital to protect your recovery phrase diligently.
Bottom Line
For Romanian crypto enthusiasts seeking the best crypto exchanges in Romania, we highly recommend Bitstamp as the top choice. It offers a robust platform with competitive fees and excellent support for Romanian users. Our second recommendation is Bybit, which provides a wide range of cryptocurrencies and advanced trading features. Both exchanges offer secure and compliant services, catering to the needs of Romanian traders looking to engage with the crypto market effectively.
