Turkey Holds The Most Cryptocurrencies in all of Europe

Turkey seemed to be operating its crypto services more openly nowadays as the number of individuals that uses and owns crypto in the country continues to rise compared to their neighboring countries.

ING Bank Surveys Highest Cryptocurrency Ownership

This study was suggested by ING News— the social media of Dutch ING Bank, a Netherland-based multinational banking and financial services company.

Turkey Wins!

According to the survey done, Turkey received the highest percentage of individuals that own cryptocurrencies in the whole continent of Europe with the score of 18%.

Next to Turkey that gained the highest percentage of cryptocurrency ownership are Romania with 12%, Poland with 11% and Spain with 10%.

Aside from the continuous improvement of Turkey to cryptocurrency ownership, Europe also reached an impressive score, it shows that 9 percent of European consumers demand to use cryptocurrencies.

The results was also tweeted by an another Turkish citizen named Meltem Demirors, Chief Strategy Officer at Coinshares, a cryptocurrency investment platform. As boasted by her:

“… among the European countries, the Turks are at the top of the list in the possession of crypto money. I am proud of being a Turk because of this great success of Turkish investors and start-ups,” roughly translated from Demirors’ twitter post.

Turkey’s Chaotic Financial Status

Although the status of Turkey as a European country is still under deliberation as the parliament discusses the negative impacts in its government, the positive message that this survey entailed is how Turkey learnt to survive in their financial chaos through the use of virtual currencies.

As reported previously by mainstream media, Turkey’s fiat currency, Lira had begun to plummet its price since 2018. According to the record, more than 35 percent of its value against US dollar was soon affected due to the misunderstanding between the leaders of the two countries– Turkey and USA.

Aside from this, the country even experienced an inflation in excess of 15 percent on the same year on which the citizens obviously get badly affected with.

Cryptocurrency On The Go

In order to solve the increasing problem of Turkey to their financial status in the market, Recep Tayyip Erdoğan– Turkey President, even gave an interesting statement saying that there are other options for their country to properly circulate money within countries and people– this is through cryptocurrencies.

“Turkey [will not give in] If you pressure us with the dollar, we will search for other alternatives to carry out our works,” President Erdogan claimed.

In this scenario, cryptocurrencies are sure to save the day in Turkey.

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