Bitcoin News Is Not For Sale

Please don’t skip this message — it only takes a few minutes to read. Sorry to bother you, but time is running out.

Bitcoin is freedom. If you think independent media that is bitcoin-only is important, if you believe information and education about bitcoin matters for adoption, and if you have gained something from our work, we would be grateful if you could chip in $21. 

Join the 2% of our readers who occasionally make a donation. If everyone reading this donated just $21, we would reach our target in a couple of hours. $21 won’t break you, we hope.

To cover the cost for our servers, editors, writers, and thumbnail artists we rely on our readers’ generous support. 

How You can chip in:

  • Send sats as a tip to a writer. Each and every one of our writers has an active tipping widget.
  • Join our campaign on Awesome perks are waiting for you such as the Bukele Blend Coffee.

Your support ensures that Bitcoin News stays independent with a laser focus on Bitcoin and only Bitcoin.

Funding Progress

Crypto Exchange Suppressing the Bear Market in Turkey

written by

Support free journalists: > send a tip

With the value of the Turkish Lira dropping to a six month low, cryptocurrency exchanges have seen a significant uprise in Turkey, especially in the city of Istanbul. The Lira boasts of being the fifth most popular fiat-to-crypto pair worldwide.

The head of operations at the global crypto exchange OKEx, Mr. Andy Seung said:

“Turkey is without a doubt the only country that boasts of a high percentage of independent crypto-ownership in Europe and the Middle East. It has one of the most robust and promising crypto communities anywhere in the entire world.”

According to BtcTurk CEO Ozgur Guneri, more than 30,000 new users have come on board with his crypto exchange.  Last year, a survey conducted by the ING bank revealed 18% of the respondents from Turkey hold or use Bitcoin cryptocurrency, making them the highest percentage of Bitcoin holders and users in Europe.

“We have never seen a declining number of users, just the pace of growth might go down a little bit. Even on the most bloody day, we’re signing up new users. Bitcoin’s retail arm has already seen several days in April with $14 million worth of volume,” said Guneri.

One of the main reasons for the increase in crypto adoption among the Turkish is the continuously fluctuating inflation of the Turkish Lira. The decrease in the value of the lira drives more people to switch to crypto exchanges.

Moreover, various Turkish traders acquire Bitcoin from the domestic market and then send it into global exchanges with better offers for fiat liquidity. The decreasing lira value also attracts foreign investors that simultaneously open the gates to a wider range of trading pairs.

Referring to competition among exchange platforms around the world, BtcTurk’s Guneri said: “There is definitely a global space for [crypto-to-crypto], but I think there will be a consolidation in terms of real volume. There will be significant value in local markets and local knowledge.”

Follow on Twitter: @BitcoinNewsCom

Telegram Alerts from

Want to advertise or get published on – View our Media Kit PDF here.

Image Courtesy:

Help spread this article :) is NOT INVESTMENT ADVICE

Opinions expressed are entirely their own and do not necessarily reflect those of

For informational purposes only. Individuals and entities should not construe any information on this site as investment, financial, legal, tax, accounting or other advice. Information provided does not constitute a recommendation or endorsement by to buy or sell bitcoin, cryptocurrencies or other financial instruments. Forecasts are inherently limited and cannot be relied upon. Do your own research and consult a professional advisor. The opinion of authors do not reflect those of 


Read More Bitcoin News


Join our Newsletter


Latest on Bitcoin News

Video of the Week

Join our Newsletter