BTCXchange, the first Romanian firm which trades virtual Bitcoin currency to Romanian currency (RON), wants to install ATMs for Bitcoin in every major city in Romania. A bitcoin ATM allows a person to purchase the digital currency for cash.

Bitcoin is convertible into RON starting the end of last year, when the first online exchange was developed by BTCXchange, a local firm owned by Horia Vuscan.

He says that he wants to make Bitcoin payments more accessible than card payments and that there are no charges related to Bitcoin transactions as opposed to banking transactions, according to Romanian dailybusiness.ro

BTCXchange has already registered transactions worth almost USD 1.1 million since it was launched last year.

Bitcoin is a payment system introduced as open-source software in 2009 by developer Satoshi Nakamoto. The payments in the system are recorded in a public ledger using its own unit of account, which is also called bitcoin. Payments work peer-to-peer.

editor@romania-insider.com