Cryptocurrency exchange in Serbia

By Darko Kolaric

The popularity of cryptocurrencies in Serbia is also evidenced by the news last week that customs officers at the Bańćki Breg border crossing prevented the smuggling of 55 bitcoin devices worth almost 10,000 euros, which were tried to smuggle two Serbian citizens into Serbia. which is used and distributed electronically. There are thousands of them, the exact number is impossible to determine because many are quite insignificant and little known. These digital coins cannot be printed and are not tangible, which means that they are traded exclusively electronically. Cryptocurrencies are stored in crypto wallets. They can be online, desktop, mobile, paper and hardware. For handling small amounts of cryptocurrency, mobile wallets are certainly most appreciated because of their ease of use and ongoing availability. For larger quantities, I recommend hardware wallets as the safest option. How many people in Serbia are interested in cryptocurrency trading and who are the most frequent buyers? What can be bought with cryptocurrencies? Statistics show that cryptocurrency users are mostly men in their 20s and 30s who are soundly tech-savvy. However, in periods when the price is rising sharply, there are a large number of people outside the specified category. When it comes to online payment, there are virtually no restrictions. Almost everything you can pay for by other methods, you can also pay for cryptocurrencies, either through merchants that sell directly for cryptocurrencies or through intermediary services that allow it.

There are online services where cryptocurrencies can be bought and sold. There are also vending machines in several cities (Belgrade, Novi Sad, Nis, Subotica, and Indjija) where cryptocurrency is bought and sold for cash. According to the Anti-Money Laundering and Terrorist Financing Act, which has been in force since April 1, 2018. Verification procedure, similar to opening a bank account. Also, if you are buying cryptocurrencies, you need to have a crypto wallet that you can switch to when buying. Payment can be made to your bank account or payment card. If you are selling through an online service, a bank account is required because it pays off the equivalent of RSD. There are also alternative ways of trading, for example – people find themselves through advertisements and then trade without intermediaries. While this option is financially most advantageous, as it allows for commission-free exchanges, one has to be very careful. It is often the case that in such transactions, one of the parties is left without cryptocurrency and cash. demand. They range from 0 to 10 percent.

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