Research Say Turkey is Likely to Adopt Bitcoin

Research Say Turkey is Likely to Adopt Bitcoin

September 6, 2018 Off By Steven Anderson

The recent survey of Statistica says it all: Turkey finally embraces cryptocurrency. Reports also state that a large number of investors are turning to bitcoin and Ethereum to manage their accounts. The people make a swift move to discover the wonders of Cryptocurrency, and it doesn’t stop there. The motives of the public to cryptocurrency are great.

The survey shows that 15 persons say that they’re investing in digital currency. Great things are about to happen as more exchange process takes place.

Earlier, the US government has excluded the Turkish economy from the banking systems. The Turkish currency has a drop out of 50%, unlike the US dollar. Many merchants are losing lira due to the conflict of Turkey to the US. It affects not only the exchange rate o lira but also the future of exchange in the Turkish economy.

Due to the prevailing situation, other merchants are unable to make cash out of their savings. The merchants face the problem of not only losing thousands of liras but also millions. The ongoing result gives the people an alternative result to use digital currency. Users of lira find this move reassuring as the government has no power over crypto.

The big question is will this continue for the coming years/

There’s no clear answer for that now, but an independent banking system far from US domain is the possible solution.  Turkey has a chance to gain success in the banking system if the Turkish banks would act on an independent platform. It might draw changes to the move of US to exclude Turkey and Iran from the global bank system.

The plan poses a great chance for Turkey to experience the benefits of digital currency. Users might face a turning point of success to their business. Other banks will have access to other benefits if it uses an independent system. Banking processes would go on a steady phase in the first months of the process. But, there’s a sure way that success would be open.

Meanwhile, other countries are appealing to an independent system. Here, people can see the big difference it would make to the lives of the people. For now, the economy needs to upscale its resources to make this aim a reality. For investors, it offers a sure way of taking good care of their investments. Hence, there would be a success in their banking efforts in the future. Digital currency can make a change to Turkey soon.

 

Related Post

Share