Tradesilvania.com, the premium investment platform in Cluj specialized in cryptocurrency trading, will issue certificates for crypto miners, both in Romania and internationally. The Tradesilvania certificate validates the mining activity of cryptocurrencies and the source of funds used in mining, which can be used as a supporting document for both financial institutions or VAT deduction, for legal entities, according to StreetInsider.com.
The Tradesilvania.com’s mining certificate will furthermore develop the mining community in Europe and Romania. Thus, Tradesilvania continues to accelerate the development of the crypto-blockchain ecosystem through innovative products.
Cryptocurrency mining is the process of creating new tokens by solving algorithmic problems. This includes computing systems equipped with specialized hardware competing with each other
to solve complex mathematical equations. Depending on the type of mining, miners receive a reward for solving a math problem. For example, in the case of Bitcoin mining, the first computer to find the solution to the problem receives the next block of bitcoins and the process begins again. The mining process also validates and confirms transactions in the cryptocurrency’s blockchain, consequently miners are a key component for maintaining a “proof of work” blockchain network.
The company in Cluj estimates that it will issue between 500 and 1000 crypto mining certificates this year. These will be issued for its own customers in Romania, where the number of crypto miners is estimated at 10,000 companies and individuals, as well as for its customers in the European Economic Area.
By issuing crypto mining certificates, Tradesilvania aims to help the mining community, streamline its processes and integrate the investor community with the mining community. At the same time, the certificates are designed to help the relationship between the miners and the traditional financial system. Thus, the certificate and its annexes establish without any doubt that a certain amount of cryptocurrency has been mined for a certain period of time, and the transaction of collection in the customer’s bank account comes from the mining activity.
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