The Future of Crypto Coins in Turkey


What
is Crypto Money that entered our lives with Bitcoin:
Crypto coins
are expanding their sphere of influence day by day and are positioned as a part of international relations. Especially countries that want to increase their power regionally are trying to improve the issue by addressing it for various reasons. Citizens of countries that are trying to issue their own cryptocurrencies and do not want to be left out of the digital transformation are increasingly inclined to use crypto money. Thus, the topic is left to be examined in terms of both country and citizen behavior.

Use of Cryptocurrencies in Turkey

If we look at it from the country’s point of view, the cooperation between Turkey and the Middle East and the Caucasus has been especially noticeable recently. Russia, Turkey and Iran, which want to be active in the region and expand cooperation, are trying to improve their trade relations and focus on crypto coins. Crypto money is preferred as the only element to both remove the cost and mitigate the effects of the embargo on Iran. In this context, countries are issuing their own
digital currencies
and supporting crypto coins. This behavior is preferred to reduce both USD influence and U.S. dominance. In this context, Turkey is both making a breakthrough to issue its own digital currency and supporting national crypto money projects. From the point of view of the citizens of the country, the citizens of the country who have a moderate attitude towards crypto coins also exhibit moderate behavior towards crypto coins. So much so that the use of crypto coins in Turkey is in the top 3 in the world ranking on the basis of crypto money used per person. Thus, its use in both investment vehicles and commercial relations is increasing and its spheres of influence are expanding.

In these days when crypto money bank cards have started to be issued, the spread of the area known as “spillover effect” may be increasingly noticeable regionally in Turkey. It can be expected that the influence will increase especially in the Middle East and the Caucasus and that Turkey will be the binding power in this sphere of influence.

You can learn in detail from our article about the crypto money studies of the central banks, which have a significant contribution to the development of the sector, and its effects.