TL;DR Breakdown
• Gipsycoin was launched in early August with a base price of $0.00001.
• Romania could increase cryptocurrency adoption at the enterprise level.
The “King of the Roma” Daniel Cioaba announced that he has launched a cryptocurrency under the name of Gipsycoin. The Romanian businessman has good aspirations in the cryptocurrency market and undoubtedly wants to integrate them into the country. Cioaba hopes that the token created a few weeks ago will bridge fund transfers between Romanian communities globally.
The businessman has claimed that the token would become a means of payment between entrepreneurs and crypto enthusiasts in Romania.
Crypto investor in Romania talks up new crypto project
Cioaba created his website to show the crypto plan and the objectives he hopes to meet in the country. The Gipsycoin project also aims to address other issues in Romania, such as extreme poverty with charities.
Gipsycoin will give 2 percent of its market capitalization to the worst affected Romanian communities. The token will also finance educational projects for all children in the country.
The Gipsycoin website also states that the token will serve as a community currency for educational plans and passive investments. Gipsycoin will be created in the country on the Galvanic Peninsula to benefit citizens.
However, the token will also be used to engage in trades by neighboring countries to Romania. The crypto project was launched the first week of August, and so far, it has been a success.
Daniel Cioaba talks about the Gipsycoin token
Daniel Cioaba, the crypto’s creator and a famous businessman in the country, said that the token had had a good reception since its launch. Cioaba estimates that over 1,600 people have adopted Gipsycoin for passive investments or to support charities. The initial value of the token was $0.00001, and is expected to have increased, and continue to increase, with more than a week since its launch.
Cioaba wants to increase the adoption of the token in the commercial sector and thus normalize virtual payments.
According to the private television channel ProTV, the Romanian Gipsycoin token has a base investment of 50,000 euros. All this money was invested by the “King of the Roma” along with his partners. The crypto project in the country may work by making the cryptocurrencies adoption among citizens increase.
