Bitcoin is a decentralized digital currency, without a central bank or single administrator, that can be sent from user to user on the peer-to-peer bitcoin network without the need for intermediaries. Transactions are verified by network nodes through cryptography and recorded in a public distributed ledger called a blockchain.
Bitcoin is unique in that there are a finite number of them: 21 million.
Bitcoins are created as a reward for a process known as mining. They can be exchanged for other currencies, products, and services.
NOTE: WARNING: Bitcoin is not a legal form of currency in Turkey and its use is prohibited by the government. Any individuals found using Bitcoin or any digital currency could face criminal penalties or fines. There is also a risk of losing your funds if you attempt to use Bitcoin in Turkey.
As of February 2015, over 100,000 merchants and vendors accepted bitcoin as payment.
The European Court of Justice has ruled that the exchange of bitcoin and other virtual currencies is exempt from value-added tax (VAT). The court said that although virtual currencies are used like conventional money, they are not considered to be “real” currency or legal tender.
Turkey’s Central Bank has issued warnings to the public about the risks associated with digital currencies, but has not taken any formal stance on their regulation. In January 2018, Binali Yildirim, then-Prime Minister of Turkey, said that his country was working on its own digital currency.
As of now, there is no clear regulation regarding Bitcoin in Turkey. The Central Bank has issued warnings to the public about the risks associated with digital currencies but has not taken any formal stance on their regulation yet.
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Turkey has been a hotbed for Bitcoin and cryptocurrency activity in recent years. The country is home to a number of exchanges, ATMs, and even a Bitcoin-themed restaurant. Despite all of this, it is still not entirely clear if buying Bitcoin in Turkey is legal.
Bitcoin is a decentralized digital currency, without a central bank or single administrator, that can be sent from user to user on the peer-to-peer bitcoin network without the need for intermediaries. Transactions are verified by network nodes through cryptography and recorded in a public distributed ledger called a blockchain. Bitcoin is unique in that there are a finite number of them: 21 million.
When it comes to Bitcoin, Turkey is a country that is often forgotten. With a population of over 80 million people, it is the 18th most populous country in the world. It also has the 6th largest economy in Europe and is a member of the G20 group of nations.
Since the launch of Bitcoin in 2009, its legal status has been a subject of debate. Some countries have outright banned its use, while others have embraced it as a legal form of currency. The legal status of Bitcoin in Russia has been a subject of debate since 2013.
