Turkey

Turkey, a nation straddling Eastern Europe and Western Asia, has seen a significant rise in cryptocurrency adoption in recent years. While exact figures may vary - and some put it at 50%, there's no denying that the Turkish population's interest and investment in digital currencies have surged. Why the Surge in Cryptocurrency Ownership? Economic Instability: Turkey has faced economic challenges, including inflation and currency devaluation. Many Turks have turned to cryptocurrencies as a hedge against the lira's depreciation, viewing digital…

In the face of a collapsing lira, Turkish investors increasingly seek refuge in the crypto world, turning to dollar-backed stablecoins like Tether (USDT). Fueled by the lira's slide to record lows, local demand for Tether has surged over the past month​​. The inclination towards cryptocurrencies has not been a recent phenomenon but a growing trend since early 2023. An analysis of cryptocurrency users in Turkey in Q1 2023 revealed a trading volume of $36.6 billion across eight Turkish crypto exchanges,…

Several cryptocurrency exchanges operate in Turkey, including: ByBit -Bybit is a prominent cryptocurrency exchange platform that provides a user-friendly and secure environment for trading digital assets. Launched in 2018, Bybit has gained popularity among crypto enthusiasts and traders for its advanced trading features and a wide range of trading pairs. Bybit emphasizes user security and employs industry-standard security measures, including cold storage for funds and two-factor authentication (2FA) for account access. The platform also conducts regular security audits to ensure…