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BTCxChange- Romania’s first Bitcoin exchange to close its services

Romania’s oldest crypto exchange, BTCxChange declared that it is closing all its services today i.e., May 1st, 2018.  BTCxChange is the first ever crypto exchange in Roman to trade Bitcoin in an easy and fastest way.

The Notice dates on April 22 on its official website from the exchange team, informing all customers to withdraw their balances before May 1st.

“We inform you that starting from 1st May 2018, our platform will be closed. Operations stopped back on 1st February, you still could stock your bitcoins on our platform”.

BTCxChange was first launched in 2014 and which had undergone many problems from the initial stage. The lead programmer of BTCxChange was accused of holding its servers’ hostage and urged users to withdraw their funds by Dec 19, 2014.

Romania’s oldest crypto exchange, BTCxChange

However, on 12th September 2016, the exchange closed its operations after putting up for sale on Aug 18, 2016. Following, the former CEO, Horea Oradea Vuscan on September 4th informed through an email and asked customers to withdraw their funds.

BTCxChange Relaunched

According to a notice posted by CEO Max Nicula, on 14th Nov 2016, the service was relaunched under ownership.

He said:

“Some time ago, we decided not to look for new bank accounts in case they were closed. The reason being that the constant changes in the bank account and the lack of permanent stable solutions, prevent us from developing our business, the speed we want”.

Nicula received a letter from Idea Bank on Jan 22, 2018, asking them to close its bank accounts within 15 days. Therefore, this is the 4th the bank account closure in a year for exchanges. In order to improve the volumes, there must a fee reduction, API launch and profitable investments in the marketing cited Nicula.

He also adds in a statement on Jan 2018:

“All these actions require us to sacrifice short-term profit for long-term results……no trust in the long-term stability of our banking solutions makes it irrational to sacrifice the short-term profitability for uncertain gains in the future”.

In general, he was hopeful for the future cryptocurrency.

What do you have to say about the BTCxChange closure of its Operations? Let us know on Twitter and Telegram.

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Kerin

Kerin is active blogger and guest writer at Coinpedia. She loves writing new updates, price fluctuations and possible insights. Kerin frequently search, review and share her views among large audience via crypto media firms.

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