Blockchain.com, the leading provider of cryptocurrency products including the world’s most popular crypto wallet, has launched a full banking integration for Turkish Lira (TRY) to create a native payment gateway for users to deposit and withdraw Lira on the Blockchain.com Exchange. Turkish users can now go from account creation to buying crypto in as little as five minutes, without having to use a third-party payment processor.
On the Blockchain.com Exchange, Turkish people can now deposit, withdraw, and use TRY to buy bitcoin (BTC), Ether (ETH) and Tether (USDT) and convert their crypto into the fiat currency of their choice with competitive exchange rates.
The launch comes at a time where cryptocurrency adoption and knowledge in Turkey is continuing to grow more rapidly than its regional peers. Statistica's Global Consumer Survey for 2019 shows that a fifth of all Turkish residents are acquainted with crypto and have been exposed to it in some form or another.
Another survey from ING conducted in April 2015 found that 45% of Turkish people believed that digital currencies such as Bitcoin (BTC) were the future of online spending, the highest percentage for all the European countries surveyed and surpassing the European average of 28% by a wide margin.
“Turkey is one of the countries leading the charge to embrace cryptocurrencies, but its traders have only been met with high fees and poor service,” says Peter Smith, Co-founder and CEO of Blockchain.com. “Blockchain.com is dedicated to providing a fair, global market for Turkey’s crypto traders, and setting a new standard for the service they should not only expect, but demand from exchanges.”
Since launching in August, the Blockchain.com Exchange has developed a reputation as the most trusted place to buy and trade crypto, and continues to launch new features and assets. It supports deposits and withdrawals in Pounds, US Dollars, Euros, and Turkish Lira, and is available in 190 countries.
In the last two months, the Exchange has launched an API for algorithmic traders, listed popular crypto project Algorand, and exclusively listed gold-backed token DGLD, increasing its asset offering to 36 live trading pairs.
To celebrate the launch, Blockchain.com is reducing trading fees for a year for anyone that deposits Lira onto the Exchange. The first 1,000 to deposit will automatically get Tier 3 fees (.08% maker / .18% taker), while the next 1,000 will get Tier 2 fees (.10% maker / .20% taker).