BTCTurk becomes the first Turkish lira-to-bitcoin exchange
We've recently reported the rise of bitcoin in Iran, Afghanistan and Israel, but now another country has jumped on the digital currency bandwagon - Turkey. BTCTurk launched earlier this month, becoming the first company to enable the exchange of Turkish lira for bitcoin and vice versa. Emre Kenci, CTO of BTCTurk, said he and his colleagues started to develop the company in January 2013 having watched interest in bitcoin increase across the globe. He told CoinDesk that BTCTurk has received a "good number" of sign-ups since it launched. "Despite the fact that there is not a single merchant....
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It is not surprising to see the demand for Bitcoin increase in Turkey over the past few weeks. Investors diversify their portfolios by investing in many different assets and foreign currencies. People holding the Turkish Lira will start to liquidate that asset soon, though. The Lira remains the world’s most volatile currency, lost a whopping 11% in value since January 1st. Things are not looking all that positive for the Turkish Lira, and this trend will only continue over the coming weeks. The year 2017 has been horrible for the Turkish Lira so far. Things went from bad to worse during....
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In a historic event for a G20 country, the Turkish lira is in free fall and making the case for a bitcoin hedge.