Turkey is the Middle East Leader in the Use of Crypto Money
The crypto money market, which has been increasing in popularity in our country as well as in the world in recent years and which includes crypto coins such as Bitcoin and Ethereum, attracts the attention of every region both internationally and nationally. Today, there are more than 5 thousand crypto money types in the world and the digital money market has reached a transaction volume of $ 800 billion. The number of digital asset trading platforms in Turkey is also increasing rapidly. After the pandemic, the interest in crypto coins has increased even more in Turkey, today it is becoming the Middle Leader in the use of crypto money.
The subject we will discuss in our article today is Turkey keeping up with the changing world and Turkey’s place in the crypto money axis.
According to a recent report by Chainanalysis, its use is rare in only 12 countries out of 154 countries, while its use as a store of value and medium of exchange is increasing day by day, especially in developing countries. According to the list presented in the report, developing countries are at the top in the use of crypto money; So where does Turkey rank on the list? According to the report, Turkey ranks 29th in the list, while it has topped the list as the country that uses crypto coins the most in the Middle East Region. In the same report, experts attributed Turkey’s rise in the use of crypto money to the economic conditions in the region, while the fluctuations seen in the TL in recent years have shifted people’s savings to crypto money. The report cited the high adoption of mobile fintech and payment platforms as another reason for such rapid adoption of cryptocurrencies and predicts that the use of cryptocurrencies will increase even more with a coming regulation. Another issue that draws attention in the report is related to the preferences of the Turkish people, where the young population is concentrated. Stating that Turkish people are more inclined to use local crypto money exchanges, the report reports that the vast majority of transactions in the Middle East are carried out by Turkish users. It can be stated that this situation reveals the interest of the young population in Turkey in crypto coins and the opportunities in this area.
