Bitcoin Investors Eye Turkey As Lira Plummets 20%
By Billy Bambrough Bitcoin and cryptocurrency trading volumes on Turkey's exchanges has surged over recent days as the country battles to contain a currency crisis that looks set to continue into this week. Koinim, Turkey’s largest exchange, has reported a 63% increase in Bitcoin trading volume, while the BTCTurk and Paribu exchanges have said their volumes are up 35% and 100% respectively, according to CoinMarketCap data . Unlike Iran, where a ban on bitcoin and cryptocurrency trading means those wanting to buy bitcoin must turn to peer-to-peer exchanges like LocalBitcoins, banks in Turkey often still work with local exchanges, meaning fresh adopters can begin buying and trading more easily. As a result, bitcoin trading volume in Turkey on LocalBitcoins has not increased as much as it has on local exchanges. Bitcoin volume on global peer-to-peer exchanges like LocalBitcoins has not increased as much as local Turkish exchanges in recent ...