National Bank of Moldova warns of high risks of investing in crypto-currencies

National banks of different countries continue to oppose crypto-currencies, warning of the dangers of investments in this sphere.

Another warning about high risks when investing in crypto currency for residents of Moldova was issued by the National Bank of Moldova.

There is nothing new in warning of the bank, the main danger in the opinion of bankers is once again connected with the fact that in the country any operations with crypto currency are not regulated in any way, therefore investors' funds are not legally protected.

According to the bank "Virtual money", and the emphasis is put on Bitcoin are not money. These assets are virtual, and therefore not accepted as a means of payment by monetary authorities and accordingly have no real coverage.

Unlike money and electronic currencies issued by central banks, crypto currency has a low degree of security and that the worst thing, according to bankers, is high volatility.

The main emphasis in the prevention is again made on the fact that the crypto currency is not suitable as a means of payment. And just investing in crypto-currencies are exposed to huge risks because there are no guarantees or protections. Transactions occur in an unregulated environment, which means that you should not rely on any kind of protection.

This warning was not accidental, because according to the analyst, such crypto-currencies as Bitcoin, Litecoin, Ethereum are increasingly being used by citizens both on the Moldovan payment services market and on the international market, which is worrisome for the National Bank.

Author: Yevgeny Yakubenko, AnalystFreedman Club Crypto News

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