Everyone who enters the bitcoin trade is appealed to be very careful.
Behind electronic currencies, the cryptocurrency of which bitcoin is the most famous, there is no monetary authority and state, and that is a sign to everyone who enters their trade to be very careful, says the Secretary General of the Association of Serbian Banks, Vladimir Vasic.
He states that time will show how central banks will react to the popularization of such a product, but it is important for citizens to know that they are taking a big risk by entering into trading in virtual currencies.
– The risk is reflected in the fact that their values are unstable and change from day to day, and that can cause large financial losses – Vasic explains.
According to him, cryptocurrencies could now be considered a kind of paracurrency and he says that it is to be expected that as more of them appear and transactions are larger, the monetary authorities will take care to protect citizens from the risk caused by their value oscillation.
When it comes to the dilemma of whether cryptocurrencies will one day acquire the right of citizenship and become a means of payment, Vasic says that it is difficult to say now.
– We’ll see. At one point, the European Union also announced that it might come out with an electronic euro. I don’t know if it is a counterpart to cryptocurrencies, but we will see, time will tell – he adds.
The National Bank of Serbia (NBS) has repeatedly pointed out that caution with cryptocurrency trading is necessary.
The central bank emphasizes that bitcoin and other virtual currencies are not legal tender and that this bank and other public authorities do not guarantee their value.
The NBS especially emphasizes the variable value of these currencies, and that this is not a currency backed and guaranteed by the central monetary authority, but a type of private digital property. Also, that virtual currencies do not have the status of currency, nor legal tender, Srbija Danas reports.
