Bitcoin adaption in Turkey

[DaNNy001]

A lot of places have had to deal with limitations on crypto, but people are still hopeful that one day Bitcoin will be more accepted everywhere.  For folks in countries where it is not embraced yet, Bitcoin can still give you some freedom. and  Governments might try to control it but they cannot ever fully do that since Bitcoin is decentralized.  So even if your country doesnt approve trading crypto through brokers or whatever, you will always be able to use private wallets and do peer-to-peer trading.

And this is exactly the case with my country over here because we are currently the highest consumer and users of crypto and Bitcoin to be specific. At first the government taught they can actually put a limitation to use of crypto in the country but just as you have said people still do use it to the very peak and there has been no relent to it's usage and instead it even increased the volume of people that actually transact with people and major CEX like binance and so many more has all been the major contributory factor to this.

[C-Falcon]

No wonder Turks turned into bitcoin after seeing their currency hyperinflated
Anyone has an update on the current situation in Turkey? Has Erdogan managed to get inflation under control?

[n00ber]

Bitcoin can exchange in turkey through different exchangers and ATMs due to the popularity of bitcoin in turkey but the turkish government is not completely regulated bitcoin as digital currency.

Turkey is one of the emerging countries which need to work on this technology because this can bring good fortune with huge investments as well which they needed in current era as we have many in developed countries in European Union.

Currently, restrictions and limits are having some problems for the common peoples but still they are doing impressive job and their current adoption is also on good run hopefully they will keep work on for the improvement of rules which will give more independence to peoples for joining this community specially as we are having good development in gaming industry things like these can bring good changes.

It's time for merchandise to bring this as payment system because this can bring more awareness, and surely, they will feel good after having this all with fairness and improvement in many other fields as well.

Is Türkiye an emerging country? I don't understand what you are trying to say. Cryptocurrencies became popular in Turkey many years ago and if I remember correctly, I also read a similar article about cryptocurrencies being very popular there in 2021. The main reason is said to be double-digit inflation there and people have looked to bitcoin and cryptocurrency as a solution. The people of that country have no other solution and consider cryptocurrency as the last solution. As for the government, they have never shown any interest in cryptocurrencies.

[serjent05]

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.

I beg to disagree that every nation is using Bitcoin and crypto.  If we look on the internet, there are still lots of countries that is not using Bitcoin, some of them even Banned Bitcoin.  It is not the cryptocurrency that is used by countries but many countries are keen to take advantage of blockchain technology.  So I guess it is misinformation to say every country is using Bitcoin and Crypto.  Maybe it would hold true if we say that there are possibly citizens of every nation that is into Bitcoin and cryptocurrency.

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.

Care to share information or some rumor that Bitcoin will cross $100k  because of Apple or google in the next 2 years?  If there is a catalyst, surely it will be the halving and the ETF approval that will make Bitcoin price surge to the point of creating a new ATH.

[GreatArkansas]

I also hope to immigrate to a country that is friendly to Bitcoin and cryptocurrencies, not Turkey specifically, but any country where working in such things is easier and provides a suitable environment for crypto.
(....)

I can see the country that will fit what you are saying is El Salvador, we all know they are the first country that made Bitcoin a legal tender. But for me, they are still adjusting. And since Bitcoin is still new, for me it's like El Salvador is in Beta mode.
While in Turkey,  we all know their current financial status but this Bitcoin adaption there is still new and not fully acknowledged by the government, but we will get there, trust the process.

[OcTradism]

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.

What did you think about big news for Bitcoin from Google or Apple next two years?

Is it something similar to Tesla accepted Bitcoin with Elon Musk's attempt to pump Bitcoin 2 years ago?

Care to share information or some rumor that Bitcoin will cross $100k  because of Apple or google in the next 2 years?

Maybe Google and Apple will announce "Since today, we will accept Bitcoin as one of payment method for all products we have". It's my speculative narrative thinking today but I will not feel surprised if more companies including Google or Apple accept Bitcoin in future. They will not be able to stay away from the global trend.

If there is a catalyst, surely it will be the halving and the ETF approval that will make Bitcoin price surge to the point of creating a new ATH.

Bitcoin Spot ETF approval probability has been used as a biggest catalyst to hype the Bitcoin community latest months. In 2024, we might have or might not have any Bitcoin Spot ETF but I strongly believe we will certainly have a Bitcoin bull run. Bitcoin Spot ETF approval or no approval at all, is not the only or a main force for Bitcoin bull run. Halving and Bitcoin adoption in many areas (not only Bitcoin Spot EFT) are more important.

[dansus021]

Turkey is one of the countries that trade bitcoin at heavy
"It is estimated that over 4.6 million people, 5.5% of Turkey’s total population, currently own cryptocurrency.

Crypto Market Sentiment in Turkey
At times the Turkish lira has, in fact, proved to be more volatile than bitcoin. Turkey’s inflation rate recently surpassed 83%(3), a 24-year high. Moreover, salaries often do not keep up with inflation, meaning earners have decreasing purchasing power.

As such, many see crypto as a refuge from Turkey’s sky-high inflation and the steep devaluation of the lira. For a culture used to investment alternatives like U.S. dollars or gold, it is not hard for the Turkish population to trust another alternative, which is crypto.

The daily trading volume of Turkey’s first cryptocurrency platform BtcTurk reached around $424.3 million in May 2022, according to CoinGecko data, while another local Turkish platform, Paribu, had a trading volume of $203.5 million. Global exchanges like Binance and Coinbase also operate in Turkey. " - https://triple-a.io/crypto-ownership-turkey-2022/

So no wonder the bitcoin adaption is crazy there in fact 5% of total population is a lot in my opinion you know what sooner or later bitcoin is gain the popularity all over the world

[BALIK]

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.

Most of these indexes published by many of these research organizations like chainanalysis might be lopsided or faulty because they use data from exchanges and web traffic which cannot be reliable means of data collection and analysis. However, I do not doubt that Turkey might have a high population of crypto users because of inflation and depreciation of the Lira. As of 2018 one Lira was equal to 4.5 dollars but today it is $28.5. So it's normal for citizens to seek other means of protecting their money from loss of value.

However, the main indicator to check the friendliness of a country towards cryptocurrency is government policies. If the government bans or restricts its use most people will never want to get involved in it because of the fear of persecution or even imprisonment. Unfavorable government policies will limit the investment and development of the sector.

If you don't think these data and analyzes are unreliable, then what do you base your belief that Turkey has a high number of cryptocurrency users? Maybe that data and analysis is not 100% accurate, but it also accurately reflects what is happening in Turkiye.  
With a high inflation rate of up to 83%, their currency was severely devalued and the government could not come up with any effective solution to stop inflation. It is natural for people to look for solutions to save themselves. Furthermore, other than cryptocurrencies, I don't see any effective solutions for people living in countries with high inflation.

If the government cannot control inflation and cannot help people's lives, then they have no right to prohibit anyone from trying to find their own way out of suffering. I believe that even if the government issues a ban, it will not stop people from participating in cryptocurrency because it is a way for them to save themselves.

[naira]

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.

It seems like you don't really consider this, if you feel like you're moving to another place just to pursue one obsession then you won't be able to survive any longer. Talking about the government and its support for the crypto industry is better than banning it. There is no need to rush because the government's decision will involve many things, not just acceptance. The state must have control over economic growth. Apart from that, I will not make the decision to move elsewhere if in my country the adoption of crypto and Bitcoin is legalized, I mean legal as a commodity asset on par with other investment assets is considered enough rather than nothing. I understand your goal of wanting to see every country open and accepting Bitcoin payments like Elsavador, but every country has various economic problems, basic needs that need to be fixed immediately. It's not focused on just one achievement, so I'm not sure you want to move to another country just to enjoy transactions using Bitcoin alone. Surviving means you will be exposed to many new things and very different habits such as where you live, rules, adaptation, dealing with citizenship transfers, etc.

Why not just go on holiday to a place that accepts Bitcoin payments and enjoy it.

[eightdots]

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.

They operate similarly to currency exchange offices. You can convert your Bitcoins into TL, dollars and euros for a certain commission. Cryptocurrency use is quite common in Turkey, but there are no laws regarding shopping.

As in many countries, there is no harm in buying and selling Bitcoin in Turkey. There are many local cryptocurrency exchanges. I don't think there will be a ban on this situation.

I would like to see the day when it will be possible to shop with Bitcoin after the necessary laws or regulations are determined. I hope it will happen.

[Assface16678]

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.

I get your point. Yes, it's good for people who use bitcoin or any other crypto currency to move to a country where crypto currency is being accepted or adopted, but of course that's not easy. Migrating to another country requires a lot of things to consider, like the living costs, etc. And I think saying that the whole country is adopting crypto is not only part of the turkey country; it depends on the businesses and establishments, but of course we are grateful that we see something like this; this makes us proud to be part of an advanced community and technology.

I too want a crypto-friendly country, but it's much more rewarding if it's from our own country or home country. We dreamed of it, and like that, many people adopt and use bitcoin or crypto currency because it means that we are close to a more advanced technology when it comes to currency.

[laurenB7742]

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.

It seems like you don't really consider this, if you feel like you're moving to another place just to pursue one obsession then you won't be able to survive any longer. Talking about the government and its support for the crypto industry is better than banning it. There is no need to rush because the government's decision will involve many things, not just acceptance. The state must have control over economic growth. Apart from that, I will not make the decision to move elsewhere if in my country the adoption of crypto and Bitcoin is legalized, I mean legal as a commodity asset on par with other investment assets is considered enough rather than nothing. I understand your goal of wanting to see every country open and accepting Bitcoin payments like Elsavador, but every country has various economic problems, basic needs that need to be fixed immediately. It's not focused on just one achievement, so I'm not sure you want to move to another country just to enjoy transactions using Bitcoin alone. Surviving means you will be exposed to many new things and very different habits such as where you live, rules, adaptation, dealing with citizenship transfers, etc.

Why not just go on holiday to a place that accepts Bitcoin payments and enjoy it.

I also see many people claiming that they want to move to countries where bitcoin is legal but I'm skeptical of the people making that claim. I don't believe that just because they want to use bitcoin as currency, they will leave their homeland and relatives to go there. They would never do it but they always talk about it. Furthermore, are our lives so boring that they revolve around bitcoin and nothing else? Would we die without it? Such thoughts only show our lack of maturity rather than receiving everyone's support.

You are right, each country will have different economic problems, we cannot expect our country to be the same as other countries. Furthermore, if we believe in the future of bitcoin, we just need to wait because I believe. Sooner or later, all countries will have to accept bitcoin, bitcoin is inevitable.

[Litzki1990]

We have to use virtual exchange to buy and sell other currencies including Bitcoin but there are physical shops in Turkey to buy and sell other digital currencies including Bitcoin which is really a joy for Turkish people. Never imagined to see such a physical crypto exchange in Turkey. However, this is good news for crypto people. Since the owner of this physical exchange thought differently and built a physical exchange in Turkey, I believe he will have more success if he can keep his physical crypto exchange. This physical crypto exchange in Turkey will be the center of attraction for most crypto currency users.

[icalical]

Found a crypto exchange in a country and drawing a conclusion that crypto is widely accepted in that country is very wrong. The main reason why there is a crypto exchange in a country is because crypto is not a legal tender, no one should use it as a payment method, that's why the crypto exchange exist, if you can directly shop with crypto then crypto exchange is not needed. And I believe that's the case for Turkey as well, it's illegal to use crypto as payment, therefore you need to exchange it into local fiat / Turkish Lira to make payment.

[Smack That Ace]

We have to use virtual exchange to buy and sell other currencies including Bitcoin but there are physical shops in Turkey to buy and sell other digital currencies including Bitcoin which is really a joy for Turkish people. Never imagined to see such a physical crypto exchange in Turkey. However, this is good news for crypto people. Since the owner of this physical exchange thought differently and built a physical exchange in Turkey, I believe he will have more success if he can keep his physical crypto exchange. This physical crypto exchange in Turkey will be the center of attraction for most crypto currency users.

But using a physical exchange takes away our privacy, and most bitcoin investors are very concerned about privacy. Even the fact that we use KYC on centralized exchanges makes many people afraid and strongly oppose it. So I don't really know if this is a good thing or not, because as long as you go directly to the physical exchange to buy and sell, it will be much easier for the police or others to track you down. So it can be said that the appearance of these physical shops is not necessarily good news, and not everyone likes it, especially those who value privacy.

[HelliumZ]

Bitcoin is a universally accepted currency but not all countries in the world recognize Bitcoin equally. Different countries of the world have recognized it in the parliament but it does not give acceptance among the public. There are some countries that work for public acceptance and adaptation in addition to recognition in parliament. Bitcoin acceptance in Turkestan is truly one such universalAcceptable steps have been taken that other countries of the world, especially the predominantly Muslim country of Turkey, will see the acceptance of Bitcoin, which will remove anti-Bitcoin attitude among them. Hope we Muslims don't have a hostile attitude among ourselves about the use and acceptance of Bitcoin.

[bayu7adi]

I also see many people claiming that they want to move to countries where bitcoin is legal but I'm skeptical of the people making that claim. I don't believe that just because they want to use bitcoin as currency, they will leave their homeland and relatives to go there. They would never do it but they always talk about it. Furthermore, are our lives so boring that they revolve around bitcoin and nothing else? Would we die without it? Such thoughts only show our lack of maturity rather than receiving everyone's support.

People easily fall in love just because the government allows the use of crypto, without considering other regulations that might make them regret living in that country.

Doesn't anyone notice the transportation chaos in Turkey, with daily traffic jams? Istanbul is even among the most crowded cities globally, so it's no surprise that transportation in Turkey is congested every day.

Moreover, Turkey's neighbors are conflict-prone countries. Although the conflict level in Turkey is low, unforeseen bad things could happen.

The horrifying thing in Turkey is the very high level of violence against women. Some online media data explained that at least in 2020, over 300 women died due to murder. The actual number is likely higher because some cases are covered up as suicides.

Even though Bitcoin is accepted in Turkey, is it ready to accept other harsh realities that exist?

read more
https://www.bbc.com/indonesia/dunia-65773757
https://www.viva.co.id/gaya-hidup/travel/1428497-10-fakta-kehidupan-di-turki-no-9-bikin-geleng-kepala?page=4
https://www.dailysabah.com/turkey/istanbul/istanbul-tops-list-of-cities-with-worst-traffic-congestion
https://en.wikipedia.org/wiki/Femicide_in_Turkey

[kryptqnick]

People pointed out that Bitcoin isn't fully accepted in Turkey and that it's actually illegal to use Bitcoin as a currency, which contrasts with the vlog experience. I've googled it, and it does seem to be prohibited to use Bitcoin as a form of payment in Turkey.
I don't speak Turkish, unfortunately, but it seems to me that the vlog is about a possibility to exchange Bitcoin for local fiat, right? That's not the same as using it as a form of payment.
Another explanation might be that it's not technically legal, but the law isn't enforced. It's like that in some countries which are a bit less formal and more chaotic. In my country, it's like that with piracy of movies and TV shows, for example. Is that illegal? Yes, absolutely. But some people don't even know it's illegal because that law is never enforced, there's zero actual risk of doing that, and the practice is very widespread.

[Ndabagi01]

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.

This is fantastic, and I'm glad to see more businesses expressing interest in bitcoin and accepting bitcoin payments and exchange. I've never seen one in my area before, possibly because it's a developing country, but I hope to see people embrace bitcoin soon now that they understand what it is and the advantages it has over other currencies now in use. Establishing of such businesses could also be unlikely if the government rules are not nice or their fee for conversion or payment is higher than the exchange people are more familiar with.

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.

Not everything that glitters is gold. Don't be easily misled that what you see in other parts of the world is genuinely that cool with the people who live there. Why not, now that you're in your place and know your surroundings better than anyone else, search for a method to make your community more crypto-friendly by involving one or two government officials who can help you push through. Life outside the home is not always pleasant if you are not adequately prepared to meet the challenges of the outside world.

[laurenB7742]

I also see many people claiming that they want to move to countries where bitcoin is legal but I'm skeptical of the people making that claim. I don't believe that just because they want to use bitcoin as currency, they will leave their homeland and relatives to go there. They would never do it but they always talk about it. Furthermore, are our lives so boring that they revolve around bitcoin and nothing else? Would we die without it? Such thoughts only show our lack of maturity rather than receiving everyone's support.

People easily fall in love just because the government allows the use of crypto, without considering other regulations that might make them regret living in that country.

Doesn't anyone notice the transportation chaos in Turkey, with daily traffic jams? Istanbul is even among the most crowded cities globally, so it's no surprise that transportation in Turkey is congested every day.

Moreover, Turkey's neighbors are conflict-prone countries. Although the conflict level in Turkey is low, unforeseen bad things could happen.

The horrifying thing in Turkey is the very high level of violence against women. Some online media data explained that at least in 2020, over 300 women died due to murder. The actual number is likely higher because some cases are covered up as suicides.

Even though Bitcoin is accepted in Turkey, is it ready to accept other harsh realities that exist?

read more
https://www.bbc.com/indonesia/dunia-65773757
https://www.viva.co.id/gaya-hidup/travel/1428497-10-fakta-kehidupan-di-turki-no-9-bikin-geleng-kepala?page=4
https://www.dailysabah.com/turkey/istanbul/istanbul-tops-list-of-cities-with-worst-traffic-congestion
https://en.wikipedia.org/wiki/Femicide_in_Turkey

Not to mention inflation there is in double digits and people's lives there are extremely difficult, I don't think moving to countries with high inflation to live is a wise idea. To me, people who claim to want to move to countries where bitcoin is legal seem to be just trying to lie to please a few forum members rather than actually wanting it. Furthermore, I don't know how it is in other countries, but moving to another country to live in my country is not simple. From differences in language, culture, society... there are too many things that need to be resolved, not just bitcoin.