Best Crypto Exchanges in Romania

Best Cryptocurrency Exchanges in Romania

Our team has evaluated the 14 cryptocurrency exchanges available in Romania identified the top five options for local investors. This analysis considered multiple factors, including compliance with the National Bank of Romania (NBR) and the Financial Supervisory Authority (ASF), support for Romanian Leu (RON) deposits, user interface, range of cryptocurrencies, and fee schedule. Here is a comparison table of the 5 best platforms for Romanian traders.

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1. eToro

eToro is the leading investment platform in Romania, offering a vast selection of over 4,500 financial assets. Users can trade top cryptocurrencies like Bitcoin, Ethereum, and Solana, as well as popular stocks such as Apple and Tesla. Additionally, eToro provides access to Bitcoin ETFs, commodities like Gold and Silver, and various other investment options. This extensive range allows users to diversify and manage their portfolios effectively in one single interface.

Designed with user-friendliness in mind, eToro offers a streamlined deposit process for RON and a straightforward sign-up experience with quick verification. With over 30 million registered users globally, it is accessible in Romania and offers customer support in multiple languages, including Romanian, through email and chat. In addition to trading, it provides a demo account, which allows users to practice trading strategies without taking financial risk.

• Fees: Variable spread fee structure, about 1%.
• Supported Assets: Over 4,500 assets.
• Regulation & Licensing: Regulated by several leading European financial authorities and available in Romania.‍
• RON Deposit Methods: Bank transfers, SEPA, debit cards, and credit cards.

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2. Bybit

Bybit is renowned for its robust platform tailored for trading derivatives, making it an excellent choice for Romanian traders wanting to trade multiple markets. It offers 180 futures and perpetual contracts with up to 100x leverage. There are more than 1,100 cryptocurrencies to trade on spot markets. Its advanced trading tools, including charting software, copy trading services and automated trading bots, enhance the overall experience.

The platform expands its offerings beyond digital currencies to include NFTs, which can be traded on the in-built marketplace that supports popular projects like Doodles, Pudgy Penguins and Mutant Apes. There are a variety of other features including TradeGPT, copy trading, a demo account, staking options, lending and borrowing services, a crypto Visa card and secure wallet.

• Fees: Maker fees at 0.02%, with taker fees at 0.055%.
• Supported Assets: Over 1,100 digital assets.
• Regulation & Licensing: Regulated by CySEC and available in Romania.
• RON Deposit Methods: SEPA transfers, bank transfers, debit cards, credit cards, Google Pay, Apple Pay, Zen, Easybank, iDEAL and more.

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3. Uphold

Uphold is a digital asset exchange that is ideal for beginners in Romania, offering a simple and intuitive platform for buying and managing over 250 cryptocurrencies. It supports a variety of digital assets, including Bitcoin, Ethereum, and XRP, as well as 27 traditional currencies and 4 commodities like Gold and Silver. Its transparent pricing and fee structure, with no hidden charges, make it an attractive option for new users.

A standout attribute is its lucrative staking opportunities, enabling users to earn up to 30% APY across 30 tokens. The exchanges dedication to transparency is highlighted through audited proof-of-reserves, ensuring a 1:1 backing for each digital asset held. It also allows easy RON deposits and withdrawals, and users can quickly sign up and verify their accounts. 

• Fees: Trading fees at 1% and maintains spread fees at 1%.
• Supported Assets: Over 250 digital assets, 4 precious metals, and 27 fiat currencies.
• Regulation & Licensing: Complies with European regulations and available in Romania.‍
• RON Deposit Methods: Bank transfers, Google Pay, Apple Pay, credit cards, and debit cards.

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4. Kraken

Kraken is known for its stringent regulatory compliance and high security standards, making it a trusted exchange for Romanian users. It offers a wide selection of 250 cryptocurrencies, including Bitcoin, Ethereum, and Cardano, along with advanced trading features like margin trading and futures with up to 5x leverage. Its rigorous security protocols ensure the safety of user funds and personal information.

It has excellent user experience, backed by highly rated mobile applications on iOS and Android devices. Kraken provides a staking service that offers up to 25% APY on 20 digital currencies, allowing users to earn yields. There is also Kraken Pro, a platform tailored for more experienced investors, provide tight spreads, high liquidity, and generous deposit limits.

• Fees: Maker orders are set at 0.01% and taker orders at 0.02%.
• Supported Assets: Over 250 cryptocurrencies.
• Regulation & Compliance: Adheres to strict European financial regulations and available to Romanian investors.
• RON Deposit Methods: SEPA transfer, SWIFT, bank transfers, and credit or debit cards.

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5. OKX

OKX is a top choice for Romanian users interested in Web3 products. The platform offers a wide variety of decentralized finance options, including staking, lending, and yield farming. It provides access to 350 cryptocurrencies to trade across spot, futures and options markets with leverage up to 100x supported. A standout feature is its vibrant DeFi ecosystem, backed by the OKT Chain and the network’s native token, OKB Coin.

The platform’s comprehensive suite of tools and resources supports traders, helping them navigate the interface. This ecosystem facilitates high-yield DeFi investments through on-chain staking, drawing in traders looking for lucrative options. There is also a native crypto wallet available, OKX wallet and a NFT marketplace, giving users access to the NFT world.

• Fees: Spot trading fee of 0.1%.
• Supported Assets: Over 300 cryptocurrencie.
• Regulation & Licensing: Not directly regulated in Europe, but is available to investors in Romania.
• RON Deposit Methods: Bank transfers and credit cards.

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Is Crypto Regulated in Romania?

While cryptocurrencies aren't explicitly banned, Romania's legal framework is still being developed and currently aligns with the EU Digital Finance Package, creating some regulatory uncertainties until full adoption of EU directives. Legal and financial experts have adapted traditional laws to accommodate new technologies, navigating the interim without comprehensive crypto-specific regulations.

Romania has integrated specific crypto-related provisions into its legislation, focusing on taxation, anti-money laundering, and preventing terrorism financing. Law No. 30/2019 is a significant milestone, addressing the taxation of crypto income and recognizing digital currencies as non-cash payment methods in the Criminal Code.

Despite these steps forward, a complete regulatory framework is still in development. The National Bank of Romania's view that virtual currency trading does not currently threaten financial stability reflects a cautious yet open approach to cryptocurrency, showing readiness to embrace financial innovation within a secure and regulated environment.

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How is Crypto Taxed in Romania?

In Romania, the National Agency for Fiscal Administration (ANAF) oversees the taxation of cryptocurrency activities. According to amendments in Law No. 30/2019, individuals must report income from crypto transactions, including trading and staking, as taxable events. The tax obligation is triggered when income is realized or when there is an increase in one's assets through cryptocurrency activities.

Taxpayers must declare their crypto-related income using the "Sole Statement," with taxes calculated based on the income's value in Romanian Leu (RON). The general tax framework applies progressive rates, depending on the total income bracket. Additionally, small transactions below certain thresholds might be exempt, simplifying tax compliance for minor transactions and encouraging accurate reporting among cryptocurrency users.

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How to Buy Bitcoin in Romania

If you’re new to investing in cryptocurrency, understanding the process of purchasing tokens like Bitcoin through a digital asset exchange is recommended. There are various steps involved, including verifying your identity and funding your account with RON. Here is a quick overview of how crypto investment platforms in Romania operate:

1. Open an Account: Begin by creating an account on your chosen exchange. Visit the website and click on "Sign Up." Provide your name, email address, and set a strong password. Complete the identity verification process, which usually requires uploading a photo ID (such as a passport or driver's license) and possibly a selfie or proof of address.
2. Deposit Romanian Leu (RON): Go to the deposit section of your account. Select RON as your deposit currency and enter the amount you wish to transfer. Be aware of the platform’s fees and limits to understand any associated costs and processing times. Confirm the deposit and follow the instructions to complete the transaction.
3. Select Cryptocurrency: To buy Bitcoin or other cryptocurrencies, navigate to the trading section. Enter the cryptocurrency name or symbol in the search box, such as BTC for Bitcoin. Choose the RON/BTC pair to see the current market rate. Review the trading options available, including market and limit orders.
4. Execute Trade: Click the 'buy' or 'trade' button to purchase your selected cryptocurrency. Enter the amount of Bitcoin (or another cryptocurrency) you want to buy, or specify the amount of RON you want to spend. Check the order details, including the price, fees, and total cost. Confirm the trade by clicking the 'buy' or 'confirm' button.

This step-by-step guide provides Romanian users with a comprehensive overview of how to start trading digital assets, from setting up an account to executing trades.

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Bottom Line

In conclusion, Romania is progressively embracing the world of digital assets with a strong regulatory framework. Overseen by the National Bank of Romania (NBR) and the Financial Supervisory Authority (ASF), the country enforces rigorous compliance measures to ensure a secure environment for cryptocurrency trading.  Whether you're a beginner or an experienced trader, platforms like eToro, Bybit, Uphold, Kraken, and OKX provide reliable and secure options to explore the crypto world.