AltCoin was founded to teach Turkish citizens about how to invest in cryptocurrencies, which provide a digital, decentralised alternative to the mainstream financial system. Cryptocurrency trading has boomed in popularity in Turkey during a financial crisis that halved the value of the lira last year, while inflation recently surged above 30%, a two-decade high. “People play at cryptocurrency trading like they’re gambling, like betting,” said Shark. Bitcoin.com, a news site associated with the cryptocurrency, said in December that Turkey had surpassed a million trades a day. An estimated 5 million people in Turkey currently operate cryptocurrency trading accounts, according to politicians seeking to regulate the trade.

Source: The Guardian January 21, 2022 08:14 UTC