Bitcoin adaption in Turkey

[UmerIdrees]

Recently I found a vlog from Turkey where we can see that there are places in Turkey where people can exchange bitcoin and crypto from the shops. just like we can exchange foreign currency with the exchangers. people in Turkey can exchange these from physical shops and it shows that bitcoin is widely accepted in Turkey.

Being living in the neighbours of Turkey, in the same Asian region, it hurts when I see that our government here wants to declare the use of crypto as illegal and does not think crypto is a good thing. Sometimes I think we need to migrate to a crypto friendly country.











Selling Bitcoin for CASH in Grand Bazar Turkey - 🇹🇷 Bitcoin Shops in Istanbul

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[Apocollapse]

it shows that bitcoin is widely accepted in Turkey.

It doesn't really widely accepted in Turkey, this user was saying this.

No, it's illegal to use Bitcoin in selling goods and services. Any of the shop that say they accept crypto payments is breaking the law.
Bitcoin trades are not illegal. You can buy and sell crypto currencies in both online and physical exchanges.

Turkey is friendly with Bitcoin, they accept it, they even allow exchange to build their own physical store, but they just not accept Bitcoin as a currency.

Migrating to friendly country with Bitcoin isn't easy, if you're not a miner or only migrate because of "Bitcoin" alone, I don't think it's worth.

[AprilioMP]

Recently I found a vlog from Turkey where we can see that there are places in Turkey where people can exchange bitcoin and crypto from the shops. just like we can exchange foreign currency with the exchangers. people in Turkey can exchange these from physical shops and it shows that bitcoin is widely accepted in Turkey.

Of course it is a beautiful sight to see the activities of people using Bitcoin and certain cryptocurrencies in transactions in every corner of the city as in the picture.
Turkiye has not fully accepted Bitcoin because it is still struggling with regulations there. According to information from coindesk, the government is still on the gray list and is still planning to bring the law to parliament.[1]

[1] https://www.coindesk.com/policy/2023/11/01/turkey-in-final-stage-of-bringing-crypto-legislation-as-last-step-to-get-off-fatfs-grey-list-minister/

Being living in the neighbours of Turkey, in the same Asian region, it hurts when I see that our government here wants to declare the use of crypto as illegal and does not think crypto is a good thing. Sometimes I think we need to migrate to a crypto friendly country.

For me it doesn't hurt that much when I can't transact Bitcoin freely in countries that legalize Bitcoin as payment. What makes me sick is perhaps when I am in a country that strictly prohibits all activities related to Bitcoin and can even be subject to sanctions.
I can still secretly do Bitcoin activities as long as I can access the internet.

[FatFork]

You can find physical stores and currency exchanges all over Europe, the US, and parts of Asia where you can just walk up to the counter and buy or sell bitcoin.  There's actual staff at the storefront in these locations, not just an ATM machine and  I've seen them in busy areas of most major cities in Europe and America. The ones I've visited tend to be grubby little shops down side streets though in some places they're getting more mainstream.

Sometimes I think we need to migrate to a crypto friendly country.

Instead of just picking up and migrating to a new country, why not try to make some changes at home first? Get involved with the local government or community groups and see if you can help create a better environment for crypto. I'm not saying it'll be easy or happen overnight.  And maybe you can't do it alone, but by joining together with others who want the same things, you'd be surprised what can happen.  At least give it a shot before you go packing your bags.

[UmerIdrees]

it shows that bitcoin is widely accepted in Turkey.

It doesn't really widely accepted in Turkey, this user was saying this.

No, it's illegal to use Bitcoin in selling goods and services. Any of the shop that say they accept crypto payments is breaking the law.
Bitcoin trades are not illegal. You can buy and sell crypto currencies in both online and physical exchanges.

I do not live in Turkey so could not know the ground reality but this vlog and this post by EFS are contradicting ones. If somehow we believe that governments does not favor the bitcoin adoption and it is illegal to use bitcoin in Turkey, then how come these bitcoin and crypto exchangers are able to open up public exchangers?

If in my country anyone cannot even think of opening such a physical Bitcoin exchange, and if they do, the government will not only seize them, but also they will get hold of all the funds and the people running this business will have to face legal consequences.
Prior to 2018, we had our first and only bitcoin P2P online exchange named Urdubit (https://twitter.com/urdubit?lang=en) but it was also closed because of the crackdown of the government against cryptocurrencies.

[sheenshane]

Being living in the neighbours of Turkey, in the same Asian region, it hurts when I see that our government here wants to declare the use of crypto as illegal and does not think crypto is a good thing. Sometimes I think we need to migrate to a crypto friendly country.

That's because every country has different jurisdictions towards crypto, if your country isn't yet embracing crypto yet, it might one day they will realize how useful it is.  It could be one reason is political stability and the level of public trust in government institutions can possibly the reason for cryptocurrency regulation.

You're lucky if your country accepts crypto as a legal tender the same in my country, so I think migration isn't a solution here.  You can still own your Bitcoin since its decentralized nature.  Though the process of trading might be difficult because you're using DEX's but it's fine if you know how to manage it.

Based on Coin ATM Radar, total number of Bitcoin ATMs / Tellers in Turkey: 22 which is not bad.

[Z-tight]

The source link you shared isn't in English, so i don't understand what was said. BTC and crypto businesses are growing fast, and in many developed countries you can find something like this. I have not bought or sold BTC in a physical store before, but i believe there will be some form of kyc before trading, maybe you will have to provide your id card and other details about yourself as well. If what i believe is true, then it is better to buy and sell your coins in a p2p exchange online.

Sometimes I think we need to migrate to a crypto friendly country.

BTC adoption is still coming up, only in El Salvador is BTC a legal tender and even if there are many countries in which it is legal to use abTC, it is not like you can spend BTC in all shops or points of payment, because only a few merchants accepts BTC. What i am saying is this, relocating from your country because you want to move to one in which you can spend BTC nearly everywhere makes sense, but because of one or two physical stores or BTC ATM's is not enough reason to relocate, except if BTC is totally banned in your country.

[ImThour]

Bitcoin is international, adoption is slow however still pretty visible and I am sure, every country is using Bitcoin and Crypto as of now and 2024-25 will be the greatest years for Bitcoin and other Cryptocurrencies because of the price target it's getting ready for. Something huge will be happening in the next 2 years and that news will make it Bitcoin cross $100k per Bitcoin.

I suspect it will have something to do with Apple or Google.

[Apocollapse]

I do not live in Turkey so could not know the ground reality but this vlog and this post by EFS are contradicting ones. If somehow we believe that governments does not favor the bitcoin adoption and it is illegal to use bitcoin in Turkey, then how come these bitcoin and crypto exchangers are able to open up public exchangers?

If Bitcoin as a currency is illegal, it's not necessary means it will be illegal if it used as a commodity aka store of value.

I'm not sure if your country is completely illegal or something like this (legal as a community, illegal as a currency), but if your government crackdown the P2P exchange in your country, it's back to the laws of each country.

Instead of just picking up and migrating to a new country, why not try to make some changes at home first? Get involved with the local government or community groups and see if you can help create a better environment for crypto. I'm not saying it'll be easy or happen overnight.  And maybe you can't do it alone, but by joining together with others who want the same things, you'd be surprised what can happen.  At least give it a shot before you go packing your bags.

It's not a good way because the government will see @OP/group as a threat and they might get punishment due to dare to fight with the government.

I believe everything has two sides: good and bad. You can imagine if you're become one of demonstrator who supporting an illegal stuff in your country because you think it give a good effect to you or most people.

[DeathAngel]

Inflation in Turkey is insane, it really is. If we think we have it bad in the US then trust me, we haven’t seen the currency devaluation & outright total mismanagement of the fiscal duties there. I am not surprised people are trying to protect their purchasing power by buying & using bitcoin. Bitcoin is a saviour to many people & long may that continue.

[hugeblack]

The presence of two or three stores that accept Bitcoin in one or two cities is not a sign that the government wants to promote Bitcoin or that Bitcoin is accepted in Turkey, but it is a sign because you can spend Bitcoin instead of converting it to cash, which is rare in many countries.
I think that high inflation in Turkey may not make such services suitable, as prices need to be adjusted on an almost daily basis, so do not expect to find many stores that accept Bitcoin, but I think that Turkish people will tell us the extent of adoption.
My last visit to Turkey was several years ago, so I hope that things will change in the coming years.

[Ale88]

You can find physical stores and currency exchanges all over Europe, the US, and parts of Asia where you can just walk up to the counter and buy or sell bitcoin.  There's actual staff at the storefront in these locations, not just an ATM machine and  I've seen them in busy areas of most major cities in Europe and America. The ones I've visited tend to be grubby little shops down side streets though in some places they're getting more mainstream.

Sometimes I think we need to migrate to a crypto friendly country.

Instead of just picking up and migrating to a new country, why not try to make some changes at home first? Get involved with the local government or community groups and see if you can help create a better environment for crypto. I'm not saying it'll be easy or happen overnight.  And maybe you can't do it alone, but by joining together with others who want the same things, you'd be surprised what can happen.  At least give it a shot before you go packing your bags.

While I agree with you at the same time I can also understand the frustration of the OP: maybe you live in a first world country run by an actual democracy, so you have all the rights to protest against your government and your politicians but unfortunately in many other places in the world is not like that, it could even cost your life.

[Bananington]

Being living in the neighbours of Turkey, in the same Asian region, it hurts when I see that our government here wants to declare the use of crypto as illegal and does not think crypto is a good thing. Sometimes I think we need to migrate to a crypto friendly country.

Crypto friendliness can be a reason to relocate from your country if you see it as reason enough. You do not need to wait for government to approve the use of bitcoins and change its status, you can relocate if you are comfortable with that and have nothing holding you back.

As someone into bitcoins, it will be great to live and experience life in a place where bitcoin is fully accepted and has no illegal status.

[CreepyUncleJoe]

It's great to see Bitcoin gaining traction in Turkey! However, given the political situation, considering migration to a more freedom-oriented country does cross my mind.

[Z_MBFM]

Bitcoin is international, adoption is slow however still pretty visible and I am sure, every country is using Bitcoin and Crypto as of now and 2024-25 will be the greatest years for Bitcoin and other Cryptocurrencies because of the price target it's getting ready for. Something huge will be happening in the next 2 years and that news will make it Bitcoin cross $100k per Bitcoin.

I suspect it will have something to do with Apple or Google.

Bitcoin adoption is seen in most European countries so it is not unusual to see something like this in Turkey. In countries where Bitcoin is used as a legal currency, such a physical Bitcoin exchange may occur at any time. Bitcoin can be traded online very easily and since Bitcoin is a digital currency and Bitcoin can be used completely anonymously, such a physical Bitcoin exchange is not very important for us.  But this news would be very happy for us if new big companies accept Bitcoin as payment or legalize Bitcoin in countries where Bitcoin is still illegal.

It's great to see Bitcoin gaining traction in Turkey! However, given the political situation, considering migration to a more freedom-oriented country does cross my mind.

Huge amounts of money can be transacted through Bitcoin without incurring any VAT tax or accountability.  But for those who do small transactions such physical exchange will be very effective.  However, it is indeed highly commendable that a physical bitcoin exchange has been launched in Turkey.

[rat03gopoh]

If somehow we believe that governments does not favor the bitcoin adoption and it is illegal to use bitcoin in Turkey, then how come these bitcoin and crypto exchangers are able to open up public exchangers?

It's a currency exchange shop, not selling items that accept crypto payments. That's clearly a different goal, and legal of course.
Maybe they sell goods in their shop, but you have to exchange crypto to Lira first before shopping.
Just like in my country which allows physical or virtual exchange of crypto to fiat before spending on goods or services.

[posi]

But do you know what is the reason behind the popularity of bitcoin and cryptocurrency in Turkiye? That is inflation in their country is too high and people need to find solutions to save themselves instead of waiting for worse policies from the Turkish government. Not only in Turkey, there are also other countries like Brazil and Argentina or countries with double-digit inflation, most bitcoins and cryptocurrencies are very popular there.

Regarding bitcoin adoption, everything takes time and I believe that sooner or later all governments will have to accept and legalize bitcoin.

[ajiz138]

The source link you shared isn't in English, so i don't understand what was said.

Yes, the youtube video cannot be subtitled/texted so it is difficult to understand.

The physical exchange for all types of crypto means it's legal just not allowed to buy products with cryptocurrency then as far as I know Turky still strictly prohibits citizens from doing that unless exchanging into their local currency.

Maybe this is something different, even though physical exchange is not banned by the government the existence of physical stores seems like a big deal in Turkey.
Then migrating to Turkey I think it's still not crypto-friendly.

[tranthidung]

Recently I found a vlog from Turkey where we can see that there are places in Turkey where people can exchange bitcoin and crypto from the shops. just like we can exchange foreign currency with the exchangers. people in Turkey can exchange these from physical shops and it shows that bitcoin is widely accepted in Turkey.

Turkey is very cryptocurrency friendly and it has good Crypto Adoption Index according to The 2023 Global Crypto Adoption Index: Central & Southern Asia Are Leading the Way in Grassroots Crypto Adoption.

Their government and central bank plan to make their Turkey Digital Lira. A latest news from Turkey this year.

Being living in the neighbours of Turkey, in the same Asian region, it hurts when I see that our government here wants to declare the use of crypto as illegal and does not think crypto is a good thing. Sometimes I think we need to migrate to a crypto friendly country.

Meanwhile, when you can not migrate to another nation, you can use non-KYC exchanges.
https://kycnot.me/

[SFR10]

Sometimes I think we need to migrate to a crypto friendly country.

Even if a Bitcoin/crypto-related company hires you, I'd still not do it without having a proper backup ^{[been there, done that and I regret every bit of it (e.g. I lost more than I gained in those few months)]}!
^{- I'm probably going to sound like a pessimistic person, but nothing guarantees that rules and regulations won't go the other way in the near future.}