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Learn More about buying ECS in Romania
How to buy eCredits in Romania
Is ECS a good investment in Romania?
The eCredits Ecosystem is a decentralized, blockchain-based ecosystem with its own native,
usable cryptocurrency, called eCredits (ECS). According to the official website of eCredits, by
using the eCredits Blockchain, local and regional micro-ecosystems will be able to develop,
provide, and sell services and goods. This movement will be supported by the eCredits
ecosystem, which aims to provide a platform for this aim. These services are designed to aid
micro, small, and medium-sized businesses (MSMEs) in competing on an equal footing or even
surpassing larger market participants. As a result, local businesses will be able to connect with
their customers on a whole new and direct level. This will give local suppliers opportunities to
reward their customers by enabling them to earn discounts and bonuses through repeated
purchases. Since eCredits ecosystem is built on and powered by blockchain technology, which
is by its very nature decentralized and secure, it also supports diversity and incorporates social
values like equality into its functionality. With regard to making purchases from small businesses
and retailers, eCredits wants to become the method of choice for customers. The overall goal of
eCredits is to encourage local shopping, strengthen neighborhood communities, and promote
more environmentally friendly behaviors
What is eCredits ?
ECS is the abbreviation and official sign for eCredits, which is a digital currency or form of digital
asset that is operating on its own decentralized blockchain as a pro-environmental project.
Is eCredits legal to buy in Romania
Yes. According to Law 227/2015, transactions with virtual currencies including cryptocurrencies are legal and regulated by the Financial Supervisory Authority (ASF) and the National Bank of Romania (BNR). It is estimated that more than 423,000 people, or 2.20% of the population of Romania currently trade in the crypto markets.
Is eCredits taxed in Romania
Yes. According to Chapter X, Title IV of the Romanian Tax Code, the National Agency for Fiscal Administration (ANAF) states that revenues from crypto falls under the category of income from alternative sources, and profits, whether that is gains or income, are subject to Income Tax. According to the same tax code, you need to pay 10% Income Tax on both any capital gain or any additional income from your crypto investment activities in Romania, and this is if your total earnings throughout the financial year exceed 600 Lei.
After you've bought eCredits in Romania
With the goal of being "the People's Currency," eCredits enables users to pay with ECS, send
and receive payments quickly, trade cryptocurrencies freely, and earn eActivity as bonus. With
its own custom wallet, ECS can be used for peer-to-peer transactions as well as in-person and
online retail establishments, bars, and restaurants.
Who can buy eCredits in Romania
Anyone can use fiat currency deposits to purchase cryptocurrencies in Romania with the help of exchanges. Additionally, our exchange provides secure and fast transactions in Romania through different means such as Apple pay, Google pay, Credit Card, Debit Card, Bank Transfer and PayPal without charging any transaction fees.
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Frequently asked questions
The future of eCredits is highly dependent on the overall performance of the crypto industry.
You need to make sure you are employing the appropriate strategy when it comes to investing
in ECS. For those with a high holding capacity and sound financial standing, this type of
investment seems like a good option. ECS also exposes users to a global technology and an
expanding ecosystem. Given that scarcity often leads to price increases, the value of eCredits is
also anticipated to rise further according to some experts. However, we recommend that before
purchasing ECS you should conduct the maximum research possible.
When you move crypto between wallets you own, the ownership is not transferring so it seems like it should be a tax-free transaction. But, since the ANAF have been quite vague about transfer fees in Romanian Tax Code, there is the potential that transfer fees may be viewed as spending crypto and as such, a taxable transaction.
Yes, you can. According to Law 227/2015, buying, holding and selling crypto assets is not restricted in Romania as long as you don’t violate any market security law and tax regulations.
eCredits are available for less than one dollar. In this case, the minimum number of eCredits
you can probably buy is determined by the minimum purchase amount that your exchange
allows. The minimum payments start at $10 in our exchange.
You file your crypto taxes for the ANAF using the Personal Income Tax Return form. You can also do this via the ANAF online portal.
Users of eCredits use an eWallet app, which simulates a non-custodial cryptocurrency
wallet. This means that only you have access to your assets and can store them.
Nobody else can access or restore your private key, and only you are permitted to send
or receive assets. On a decentralized blockchain, every transaction is safe and
inaccessible. This eWallet also allows users to connect with third party centralized or
decentralized applications or exchanges. Please note that in order to ensure your
assets’ security, User Account, Secret Phrase and the Private keys should be kept
personal and you may not share your credentials with anyone. You are solely
responsible for remembering, storing, and keeping your credentials in a secure location;
therefore, it is recommended to back up your information so that you can safely retrieve
them in case it was lost.