If you are a keen crypto enthusiast, you might be aware that cryptocurrency as a whole is not doing so well right now. Although Bitcoin is supposed to be an inflation hedge, it has failed to fulfill this purpose since everything is going south. Plunging prices, collapsing projects, and failing financial companies are some of the signs that Bitcoin is not the old master in the crypto world it used to be.
However, countries like Turkey have a thriving Bitcoin sector, especially in major cities such as Antalya, Izmir, Istanbul, and Ankara. For now, we will look at the popularity of Bitcoin in Istanbul as well as other cities. So, what might have caused this surge in popularity? Let’s find out.
Bitcoin Is the New Gold for the World
The world is still recovering from the COVID-19 pandemic. During this period, a lot has changed, especially regarding digital platforms. Turkey saw a surge in demand for Bitcoin as more people wanted to invest in an online venture.
This high demand for Bitcoin in Istanbul and other Turkish cities pushed its popularity a notch higher, and this environment is still felt currently. Many people in crypto communities have confirmed this and predict that Bitcoin’s popularity in Turkey will keep rising.
Ease of Accessing Bitcoin in Istanbul
Do you think it is easy to access Bitcoin in Istanbul? If you have never tried, then you are missing a lot. Turkey has especially fast internet and modern technological infrastructure, which makes it easy to access online exchanges. In fact, many of the popular cryptocurrency exchanges in Turkey have dedicated mobile apps for ease of access.
What’s more, Bitcoin in Istanbul can be accessed through one of the many physical shops all over the city. Some operate as physical crypto offices and others as Bitcoin ATMs. Regardless, these outlets have contributed to making Bitcoin in Istanbul very popular.
The Lira Woes
The Turkish lira has not been doing well in the recent past just like many other currencies across the world. Numerous investors have lost their investments due to the failing global economy and are now looking for better alternatives.
Bitcoin in Istanbul is one of the lucrative alternatives for many investors who have been flocking to various physical exchanges to buy BTC and other crypto coins or trying their luck on online exchanges.
Predictions for Bitcoin in Istanbul
Any serious crypto investor can confirm that Bitcoin in Istanbul and any other places around the world has a bright future. According to history, Bitcoin has been growing although there are drops, stagnations, and other challenges here and there.
Those who buy Bitcoin in Istanbul today are likely to enjoy better rates in the near future as Bitcoin’s value soars. Therefore, this calls for patience and the smart strategy of HODLing BTC and other cryptocurrencies through reliable exchange platforms and wallets.
Bitcoin in Istanbul is very popular for many reasons. We have mentioned the main ones so that you can take advantage of this lucrative investment right now. With these insights, anyone can make informed and wise investment decisions.