Making trend in Kosovo buying virtual currency in Montenegrin

Despite that cryptovaluts can be bought regularly and debit card, in Kosovo most of the exchanges are done in hand, or in the Montenegrin “”.

So has engineer Ermal Sadiku declared in an interview that there are about 150 different companies in Kosovo, which are interested, or accept Bitcoin as exchange tools.

Despite the decline in the value of cryptova peaces, handled days ago by Kosova Preris, the trend of their use continues. What arouses interest in citizens is how to buy them through debit cards. But Sadiku says few people are informed that buying debit cards costs about 5 per cent more.

Among other things, it shows that some problems arise in this direction, as large platforms do not recognise Kosovo as a state, while confessing one of the ways in which cryptovaluts can be bought.

“can be bought because cryptos and other currency are not connected to a certain state. It's not easy because these big platforms aren't recognised by Kosovo as a state, because we're having problems connecting our banking problems with those non-changed external platforms, but there's a way to buy them willingly. That's where you could buy me with the Kosovo bank cards. The prices are usually higher when they buy at least 4-5 per cent higher than in the normal market. The best time to invest, to buy bitcoin, is when the botcoin is free and the best time for rain is when bitumen is expensive”, he said.

Another way to buy cryptovaluta, according to him, are bank transfers.

Another way to buy these crypto is to become bank transfers. It means you go to Pro Credit? They made a bank transfer to a particular éex-change, for example, a krakran, and then you have them stored there, they come up as euros, and there you can exchange for much better prices. This is a very good way for those who buy it. The transfer usually lasts one day as I've heard, but still, buying the currency in hand, which we say to the black one, continues to remain the largest amount of exchange”, he said.

Despite the fact that people see crypto-valuta as a means of exchange, to buy or sell, Sadiku points out that their use goes beyond that.

“Creptovalutes are very useful, beyond what you can buy with them. The main goal or greatest purpose of crypto-industria is not for buying or selling them. Some of them, such as bitumen, may also have had that goal at first, but they too have changed their goals. If we talk about the classic way of buying, in exchange for some particular commodity, in Kosovo today you can buy or exchange it for many goods or services that people agree to exchange. We've found about 150 different companies that are interested, or which they accept as a trading tool. Some use it as a marketing tool, some for operational causes”, he stressed for KosovaPress.

To conduct transactions and buy cryptovaluta electronically, Granit Cadolli, an expert on this field, has explained to Kosova Preris that bank folders must be debit cards.

He explains that to enter this process, the first means of investing in an open account in a krakra, where it can then be converted into crypto, or even transferred elsewhere, should be deposited first.

It must be the folder debit card because some bags, I'm calling them because I don't have Albanian words for that, they stop. You can't buy on credit cards, but you can deposit it in the crack. You can deposit and e-bank transfer. You can charge a thousand dollars or a thousand euros. Deponed to your account that I open in Kraken, then you can convert it into a crypto or transfer it somewhere else”, he said.

He relates that in Kosovo on various issues, Bitcoin was initially banned, while later released. Cadoll explains that he himself bought crypto-valuta through the banking system.

It's been stopped by us for a while. The reason they stopped him is because they probably didn't know what this phenomenon is. But then he was released. I've tried it the last time in September, when I made a payment on debit card without a problem. Up to a thousand euros you can use as much as I've tried. Besides, I don't know I haven't tried it myself, he said.

Meanwhile, the Kosovo Central Bank several days ago, through a communique, has announced that at the meeting held on February 26, 2018, it has established a permanent body for assessment and addressing the regulatory challenges related to virtual money, which will forward and analyse international developments on virtual money regulation,

“In the continuation of BQC's assessment and warning commitments regarding the virtual money phenomenon, the CEC Executive Board at the meeting held on February 26th 2018 has established a permanent body for assessment and addressing regulatory challenges related to virtual money. This body structured in the form of an advisory group will forward and analyse international developments on virtual money regulation, with the focus on dealing with regulators in EU countries and countries in the region, as well as prepare recommendations for the CEC's decision-making bodies regarding the further steps in the functioning of the virtual money adjustment”, the BQC municipality says.

All in the end, the CEC has drawn attention to local subjects regarding the risks of financial losses it could suffer from investment in virtual money, as well as other possible implications.