It seems Bitcoin is winning one after another country’s market as after conquering the markets in Iran, Afghanistan, Israel, etc. this virtual currency is now all set to step in Turkish market. The step-by-step approach to reach to all countries is helping the organization not only convince its skeptics but also the governments and bank professionals who feel endangered due to its increasing popularity.
The recently launched BTCTurk can now be used for the exchange of Turkish lira for Bitcoin and vice versa. To buy Bitcoin, a customer needs to deposit Turkish Lira by way of transfer or EFT and enter the purchase order or the market price at the price he wants to receive. Once transaction is completed Bitcoin is transferred to the customer’s account.
Similarly, customers can also sell Bitcoin at BTCTurk by opening an account and telling the amount they want to sell. The transaction is completed once the customer has transferred Bitcoin from his account and exchanged value is given. Thus, buying and selling of Bitcoin has now become easy for customers with BTCTurk.
BTCTurk, whose idea came in January 2013, is now gaining customers from diverse sectors and regions in Turkey as people are interested to know about this virtual currency and hope that it will bring some changes. A large number of Bitcoin lovers are youngsters who are keeping their faith in crypto-currency, a challenge for fiat currencies.
As BTCTurk is the only merchant that accepts Bitcoin in Turkey, a large number of customers who did not have any option earlier are queuing up. Moreover, making the Bitcoin exchange fast and easy for customers, BTCTurk is all set to become a popular name in Turkey.
There are no laws that specifically regulate Bitcoin in Turkey, BTCTurk is complying with the existing know-your-customer and anti-money-laundering policies for finance organizations like banks to avoid any conflict with the law and regulators.
Bitcoin’s Popularity Increasing but Challenges Appearing Up
Now that Israeli lawyers can accept Bitcoin, Coupa Café accepting Bitcoin in exchange and some bar in Germany accepting them for a drink, etc. are popular news; Thailand’s decision to make Bitcoin illegal is definitely a low point.
The recent Bitcoin Conference in New York discussed and debated on the various issues and challenges and opportunities the virtual currency has. With such conferences where the stakeholders and well wishers of Bitcoin meet, a way-out definitely be expected for smooth transition.
To contact the reports of this story: Jonathan Millet at firstname.lastname@example.org