I’ve already discussed the progress of Bitcoin trading in other parts of the world, but I haven’t yet touched on Turkey. Well, it turns out that it’s making quite a lot of progress as well. The Turkish government has been taking steps to officially recognize cryptocurrencies and encourage more people to trade them. I’ll go over some of those measures below. Visit https://immediateedge.biz/ for further information.

The first step was taken by the Central Bank of Turkey (CBT) back in April 2017 when they gave their approval for Bitcoin and other cryptocurrency exchanges to operate legally within the country. This helped bring credibility to these exchanges and made investors feel safer about trading through them. It also cleared up any confusion about whether or not these exchanges were legal or safe to use.

Role of Bitcoin Trading in Turkey’s Economy

The role of Bitcoin trading in Turkey’s economy is significant. The country has a very young population, with the median age being just 30 years old. This means that a large portion of the population is still in the process of establishing their careers and financial lives. Bitcoin provides an opportunity for them to invest and save for the future without having to rely on traditional banks or other financial institutions.

In addition, Turkey has a history of high inflation. This makes saving in traditional fiat currencies very difficult, as the purchasing power of savings can decrease dramatically over time. Bitcoin can provide a hedge against inflation, as its price is not directly tied to any fiat currency.

Finally, Turkey has strict capital controls in place. This means that Turkish citizens have limited ability to move their money out of the country in order to invest it elsewhere. Bitcoin can be used as a mechanism for bypassing these capital controls and investing abroad, thus providing another avenue of growth for the Turkish economy.

Overall, Bitcoin trading plays an important role in Turkey’s economy by helping young people save and invest, protecting savings from inflation, and allowing citizens to circumvent capital controls. As such, this activity should be embraced and encouraged by the government going forward.​

As one of the youngest populations in the world, with a median age of just 30 years old, Turkey is home to many young adults who are still establishing their careers and financial lives. Given this context, it is no surprise that many Turks are turning to Bitcoin trading as a way to invest and save for the future.

Bitcoin provides an attractive investment opportunity for young Turks for several reasons. First, Turkey has a history of high inflation, which makes saving in traditional fiat currencies very difficult. Second, Turkey has strict capital controls in place, limiting the ability of citizens to move their money out of the country. Bitcoin can be used as a mechanism for bypassing these capital controls and investing abroad.

Overall, Bitcoin trading plays an important role in Turkey’s economy by helping young people save and invest, protecting savings from inflation, and allowing citizens to circumvent capital controls. As such, this activity should be embraced and encouraged by the government going forward.

Future of Bitcoin Trading in Turkey

The future of Bitcoin trading in Turkey is uncertain. The Turkish government has not yet released any regulations or guidelines regarding cryptocurrency, and there is currently no official stance on Bitcoin. This lack of clarity has led to a situation where Bitcoin trading is effectively illegal in Turkey.

There have been a few attempts by the government to crack down on Bitcoin trading, but so far these have been unsuccessful. In 2016, the Central Bank of Turkey issued a warning against the use of Bitcoin, stating that it was not a legal currency. However, this warning was largely ignored by the Turkish public.

In 2018, the Turkish government again attempted to crack down on Bitcoin trading, this time ordering all exchanges to stop offering services to Turkish citizens. This action caused a brief panic in the market, but the exchanges quickly found ways around the ban and resumed trading.

At this time, it is difficult to predict what the future will hold for Bitcoin trading in Turkey. The government has shown that it is willing to take action against cryptocurrency, but so far these actions have been unsuccessful. It is possible that the government will eventually create regulations or guidelines regarding cryptocurrency, but it is also possible that Bitcoin trading will continue to be effectively illegal in Turkey.