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<p>Amid alarming inflation, a new trend is emerging in Turkey: more than half the population is now embracing cryptocurrencies as a financial haven. Here’s an overview of this transformation.</p> 
<h2 id="h-key-points">Key points:</h2> 
<ul> 
 <li>Massive crypto adoption in Turkey following rapid inflation;</li> 
 <li>Bitcoin and Ethereum dominate investment choices;</li> 
 <li>Young Turkish women show growing interest in crypto.</li> 
</ul> 
<h2 id="h-increased-crypto-adoption-in-turkey-amid-inflation">Increased crypto adoption in Turkey amid inflation</h2> 
<p>Facing unbridled inflation, Turkey is witnessing a growing infatuation with cryptocurrencies. According to a recent study by KuCoin, Turkish adoption of cryptos has soared from 40% to a notable 52% in just eighteen months.</p>
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<p>KuCoin, one of the world’s leading cryptocurrency exchange platforms, highlighted this development. Their <a href="https://decrypt.co/154724/republic-of-turkey-crypto-adoption-half-kucoin" target="_blank" rel="noreferrer noopener">study</a> indicates that more and more Turks see crypto assets as a shield against the rapid depreciation of the Turkish lira. Faced with a lira that has fallen by more than 50% against the dollar, citizens are looking for solid financial alternatives.</p> 
<p><em>“Our observations on Turkey, combined with other previous country studies, show that the increase in the number and percentage of crypto investors reflects a growing confidence and infatuation with cryptocurrency. This is all the more marked with the Turkish lira having lost more than 50% of its value against the US dollar,”</em> a KuCoin representative told Decrypt.</p> 
<p>However, Turkey is not an isolated case. Similar trends have been noticed in Brazil and Nigeria. Cryptocurrencies seem to offer a safe haven for many people in the face of depreciating local currencies. The figures bear this out: 58% of those surveyed see cryptocurrency as a long-term investment, while 37% see it as a reliable means of preserving their capital.</p> 
<h2 id="from-bitcoins-to-women-investors-turkey-redefines-the-crypto-landscape">From Bitcoins to women investors: Turkey redefines the Crypto landscape</h2> 
<p>Turkish investors’ enthusiasm for Bitcoin is undeniable: 71% of them hold BTC. Ethereum comes next, chosen by 45% of investors. While historically the world of crypto investing has been predominantly male, in Turkey the situation is changing. Today, almost half (47%) of investors in the 18-30 age bracket are women.</p> 
<p>Beyond its growing adoption of cryptocurrencies, Turkey is nurturing broader ambitions. It is also considering setting up its own central bank digital currency, the Digital Lira.</p> 
<p>In conclusion, in the face of its economic challenges, Turkey sees crypto as a notable opportunity. More than a mere observer of the rise of cryptos, it aspires to position itself as a key player in the digital revolution with its own central bank digital currency, the Digital Lira.</p>

Revolution in Turkey: More than half of citizens turn to crypto!

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