Topic: Half of the People in Turkey Now Own Crypto (Read 472 times)

Just like what happened in other countries hampered by runaway inflation and instability in their economies, people are looking for other proven ways to protect their wealth or assets. This is actually very interesting to study things happening in the economy in Turkey and how come there is a big boom in cryptocurrency adoption in there. Well, to put it simply, people are realizing that there is more peace and calm in the world of cryptocurrency despite its popular volatility compared to just holding on to the national money issued by the government which are all losing value due to runaway inflation. People can see protection of their assets in cryptocurrency and so millions are now owning cryptos in different types. Cryptocurrency then can be a saving boat during turbulent times. Still, they should also be careful because cryptocurrency can be like a woman having her own usual monthly period: irritable and sometimes unstable due to hormonal changes. I am looking forward that we can learn many things in Turkey and see the role of crypto impacting people's lives.

In Turkey most of people are accepting bitcoin and preferring it so this news is greatly related with the success of bitcoin. The more people accepting bitcoin as a source of investment the more will be the worth of bitcoin because demand and success are related with each other.

People are not only accepting bitcoin for the purpose of investment but there are much more other uses therefore people have greater interest towards buying bitcoin. I think in future there will be more crypto users not only in Turkey but in all countries which will have positive effects on the value of bitcoin.

In fact, extrapolating data from a subset to the whole population needs rigorous methods and should be interpreted with care. As for children and the elderly, you're right; they might not be as interested in or aware of the crypto scene. But dont underestimate the next group or write off the older ones. There is a growing trend of kids mining cryptocurrencies in their dorms, and after doing study, more and more grandparents are jumping on the Bitcoin bandwagon.

Now, about the wide variety of altcoins: I agree. There are many altcoins, and sadly, some of them are scams. But to say that crypto is a "blessing" or a "curse" because of a few bad apples is to take a narrow view. Instead, one should be careful and wise about the projects they engage in. Its important to sort the wheat from the chaff. Yes, the world of cryptocurrency is complex, but lets not underestimate its potential based on a few isolated events.

Reading back the topic I just realized another "fun" fact about it.

It says that 38% of them have invested more than 100 000 TRY, this means that 19% of the population of Turkey has invested more than the annual median wage in that country, so 19% or around 15 million people have poured around at least $4000 in crypto which would make it to 60 billion. For fun let's assume they all have it in Bitcoin, just those and assuming they have only the minimal bracket purchase and that 38% of the population of Turkey would own 13% of all the Bitcoins! If we count the others at a median we would have another 5-6% percentage!

So, based on this at least 20% of all the coins are owned by Turkish people!
Can we call it again one huge pile of bs?

Oh, also funny, if we assume 40 million bitcoin users not crypto, it would take 100 days for each of them to make one tx, without any other nation using the blockchain, so just their withdrawals would clog the network for 3 months!

While we just hear that adoption is growing vastly to a specific location like Turkey per se but the study should have a concrete and accurate detail about it.

But with what many are noticing from countries that are dealing with high inflation, most of the are really looking for ways to defeat it and one of it is to use crypto.

Data may be inaccurate or accurate but, it is nowhere to go but also with that adoption growth sooner or later.

I generally agree because I don't think research by a crypto exchange is likely to be unbiased and representative of the overall population of a country. From the article, it seems that they simply did a survey of 500 people, and in that case, it's likely that they didn't reach enough non-crypto audience, considering that they are an exchange. That being said, if they commissioned sociological research to a reputable institution, it could be representative with a low margin of error. Perhaps not with 500 people, but with 1000–1500 people, professionally selected to ensure that they are representative of the whole country. I mean, we all know that accurate sociological polling is possible because we often see it before elections in various countries, and then by the difference between the polls and actual results.

I’m not surprised to be honest, anybody who has any even moderate savings there has seen their money & purchasing power devalued so much that it’s akin to monopoly money. People have to protect themselves from the stealth tax that is inflation & bitcoin is the best option for that, as proven by the last 10 years.

When there is a survey whose results show that 50% of the sample taken owns crypto, it cannot fully describe that 50% of Turkiye people are crypto owners, because of the entire population in the country there will be a few percent who are children and also the elderly. where it is impossible for people like that to own crypto because children under the age of their teens very likely don't know about crypto, and the elderly don't know either or if they know they aren't interested because usually they will think of gold more as a future investment.
Saying crypto is a blessing is like stupidity because crypto means that it's not talking about Bitcoin only there are altcoins that are full of scams and are a way for scammers to earn money by creating fake projects and so on.
So when you seen this news, don't be happy yet because it doesn't mean anything.

At the moment, their decision to shift their funds into cryptocurrency doesn't necessarily mean they have a strong desire to invest in crypto. There are other variables that might influence their decision-making.

I believe these crypto adopters are attempting to shield themselves from the significant inflation occurring in the Turkish Lira compared to the US Dollar. Many people are seeking a safe haven to protect their wealth from being eroded by inflation. I read about it here: link

Whether the effects are positive or not, I think everyone is starting to educate themselves about cryptocurrency due to this inflation. As a result, a percentage of Turkish crypto adopters will undoubtedly begin learning to use Bitcoin.

It's akin to a mass adoption of Bitcoin, but it's happening against the backdrop of a government struggling to curb inflation.

There are almost 85 million people in Turkey, as you can see in the picture below.



https://www.worldometers.info/world-population/turkey-population/

This means that 50% of the population of Turkey currently has more than 42 million people who believe in and have holdings in
Bitcoin or cryptocurrency. What I can say about that is that the country of Turkey is so open-minded to Bitcoin or cryptocurrency,
so I won't be surprised one day if Turkey's economy suddenly rises a lot when the bull run season comes in Bitcoin.

Actually, I was a little doubtful about this news. But after I learned that Turkey is the country with the most cryptocurrency users in the world, my thinking changed a little.

I agree with you OP. Because for me personally, cryptocurrencies have become a blessing. But even so, if you look at the facts, not everyone can run smoothly in the realm of crypto. Because after all, everything in this world always has pluses and minuses.
Likewise, there is an increase in crypto adoption in Türkiye. This means that people there already believe in cryptocurrency, and perhaps consider it a blessing, because it can save them from recession.

It's just a matter of percentage figures and we also don't know how well the sample is collected and matched to the data. I mean the numbers can be not very accurate and although we would like to see the percentages and maybe the Türkiye on the forum know more because we might struggle to get the real statistics, especially when we talk about the percentage of the whole survey conducted and the sample is usually taken randomly in between people involved in crypto so that data automatically increases its adoption rate.

Let's just say that the survey is true and we have another Türkiye brother in the crypto industry and hope that the presence of bitcoin in particular can have a good impact on all people involved in it or not. Unifying the perception between the previously existing investment system and the new investment system is progress and this is where we see that technology is a smart innovation that can surpass more massive mass movements.

As I said, let's not take those survey results too seriously because they don't mean anything. Furthermore, you can read the article that Ayers provided us, you can see that Turks have been interested in cryptocurrencies for a long time and it is not something new. The survey results are not accurate, but Turkish people's interest in cryptocurrencies is not fake news.

As for the survey's exaggeration, the same as many people on this forum have over exaggerated about bitcoin. Many people also praise bitcoin as being able to bring peace, eliminate poverty or reduce unemployment...I find it even more terrible than that survey.

I have no issue about the people in Turkey getting into Bitcoin because of the uncontrollable inflation rate. I am happy that they have known Bitcoin and that they were able to use it to counter the country's fast fiat devaluation. I am also hoping that the rest of the country come to know Bitcoin and take advantage of what it offers.

My issue is the exaggeration that is being proliferated by crypto news articles that have no solid research or background. Half of Turkey's population own crypto? Come on!

Yo what? That’s definitely another messed up survey answers from small group as mentioned in the article.  It means literally nothing as long as there is door to door survey and asking every personnel whether they own the crypto or not. That’s the real figure that I will believe if they ever do physical survey like that.

These digital media’s and micro site based surveys are not truthful. I am working part time on micro tasking site and see all the type of survey providers. The users would do anything to get qualified for the survey. Sometimes a male 21 years old might just be feeling profile of 40 years old. It’s completely messed up data and can’t be trusted.

Inflation in Turkey is at its peak and it have jumped to 59% and the same could've moved a big number of people into bitcoin and cryptocurrencies. The job layoffs were at its peak and interest rates were hiked regularly. All around the world inflation is happening bad, most of the governments have failed to keep things under control. Now the choice of the people is to move their savings/funds into something worthy and for that reason bitcoin is preferred. However this doesn't constitute to half the population of Turkey.

surely the title is just a clickbait because currently Turkey's population is 82 million people and half of them are 41 million, I even looked for clarity on the news on this topic and I found several articles that said crypto adoption in Turkey was up 50% from the previous year all of that because inflation. this will definitely become a trend, I will definitely convert my fiat currency if high inflation attacks my country's economy, inflation is a very bad thing because your purchasing power for some goods increases by several percent.

@ImThour, at least you, as a Legendary member, should know the difference between Bitcoin and crypto, and since no one mentions Bitcoin explicitly, what is this topic doing in the Bitcoin discussion? Even if the figure is miraculously true (and of course it isn't), people who invest in altcoins have messed up in the long term anyway, whether they will be screwed by inflation or 99% of crypto projects that will fail in the next 2-3 years.

What I noticed is that "someone" persistently pumps this kind of "research" in that country, because a few years ago we had a similar discussion, only the number of those who owned crypto was 18%. You don't need to be too intelligent to conclude that various CEXs are using the economic situation in that country to create the impression that everyone is buying cryptocurrencies, which is actually a tactic for them as companies to attract more clients and of course earn more by charging high service fees.

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In addition, I noticed that some members warn that we no longer write the name of the country as Turkey, new is Türkiye.

https://www.npr.org/2023/01/08/1147704945/the-state-department-will-begin-spelling-turkey-as-turkiye

The survey results have never been used as a measure or representative of anything, but we cannot deny that cryptocurrencies are thriving in countries with high inflation.

You don't need to wish because that's what's happening, cryptocurrencies are becoming friendly in countries with crazy inflation.

If you are someone who regularly reads economic and financial news, it will not be surprising that Turkey is one of the countries with high inflation rates in the world. As I said, I don't care about the survey results but I believe it is true that Turks are using bitcoin or cryptocurrency to avoid inflation.

From what Kucoin is pointing out is that Turkey is increasing in the adoption of crypto but the 52% is an exaggeration figure. I am happy that people have begin to see bitcoin as an hedge to inflation, especially those third world countries that inflation is at its peak. It is good news to see that bitcoin is gaining more popularity. I hope that it is bitcoin that they are investing on and not just any cryptocurrency,so that they don't run at loss. Surveys ain't easy to carry out and most times,they come up with bias figures

But does this finding agree with primary data from the government who are in a better position to tell us if the people of Turkey 🇹🇷 are on the verge of going all crypto, besides I find this headline to be bias in its nature as they are saying Turkey is only using Kucoin and not any other exchange out there which makes this actually sound like a marketing gimmick to get more Turkish people on on the kucoin boat and leave other exchanges.

80% in inflation screams a failed or collapsed economy,  and at this point it would be shocking if they still have a local currency to talk about as it might have been rendered useless but thank God we have cryptocurrencies that can act as a parallel currency that can help correct the effects of inflation there...

Half of those 500 people with the survey are smart to buy Crypto to make sure to hedge against inflation. With the inflation rate that high so much, that's got to be a blow to their economy. They are probably affected by that so much that they know that fiat is not going to do good.

I am always very skeptical about any polls, and I have doubts about the relevance of the data obtained based on them, but they can give some general picture. I guessed that in Turkey a fairly large part of the population owns cryptocurrencies, and I think this is because in recent years their national currency has been subject to high inflation, this has contributed to the fact that people were forced to look for safe assets in order to save their funds. And given that Bitcoin has been in a bear market for a long time, this should have made it a good choice for preserving the purchasing power of your savings.

I know this is not a guarantee and Bitcoin may fall in price, but after this cycle ends a bull market will follow, and that is why Bitcoin looks like a good option for this.

Yes I hate these surveys which are bias because they got a small sample size and are geared towards a specific audience.

This is like asking a bunch of gear heads if they think the speed limit should be raised. Or asking a bunch of Tesla fan boys If they prefer Twitter or Facebook?

Either way it’s great for adoption and especially important since inflation is bad but it’s highly impossible that half the country is using bitcoin on a daily basis.

The image is interesting. NakitCoins has their announcement thread in Bitcointalk and they even run a signature campaign too.

Announcement thread
Signature campaign thread

It is interesting to see NakitCoins is still actively operating in Turkey after they decided to stop a signature campaign and left the forum.

Right, cryptocurrencies are growing very strongly in Turkey and this has been known for a long time, it is no longer new. I just looked back at an article I read last year and it also pointed out that cryptocurrencies are thriving in Turkey. Inflation in Turkey sometimes exceeds 80% and it is understandable that people are looking for a solution against inflation.

It can be said that cryptocurrency is considered a financial game by many people, but in countries with high inflation, bitcoin and cryptocurrency are being considered the only savior.

https://www.coindesk.com/layer2/2022/10/25/turkey-cryptocurrency-explained/

That's right, and at least they believe in and know Bitcoin and this will set an example for a lot of people out there who will know Bitcoin to learn and do.
Inflation or financial problems in any country will make Bitcoin eyed and for whatever reason and at least they know and are involved, and that will be their consideration after they really know Bitcoin well.
And inflationary pressures in Turkey have caused crypto assets such as Bitcoin and some cryptocurrencies to experience a spike in interest, as they are considered safe haven assets compared to the Turkish lira and some stocks and are traded there, which is good news.

It is possible that this survey is biased and the data inaccurate, but reports that Turkish citizens are using cryptocurrencies to a high degree are not new news. Because as we know, Türkiye has an extremely high inflation rate when the government has anti-inflation policies like no other. If I remember correctly, their president chose to lower interest rates to prevent inflation, this is considered a contrary idea compared to other countries and they failed to prevent inflation. As we have also seen in countries with high inflation such as Argentina, Brazil...the trend of using cryptocurrency is increasing. So, don't be surprised that Türkiye is also among the countries with high cryptocurrency usage.

Inferences about a population can be done with statistics and a very low amount of people being subjected to a survey, however it is obvious there is something wrong, one of the most common mistakes when making a survey is the bias when it comes to selecting the group that is bound to be subjected to the survey.

So it is clear to me there was a huge bias on the survey and they interviewed people that had a greater probability of being invested in this market, as there is no way those numbers are correct.

Just like the others, I am also suspicious of these numbers. I didn't read the study or the survey which released these numbers but I doubt it is done right so as to be realistic in its findings.

Of course I wish this is true especially knowing that the country has experienced an accelerated devaluation of their fiat currency, but it's better to report the real situation.

But this kind of poorly written article is nothing new in crypto. Many crypto articles are more of exaggerations or with so much hype rather than truthful.

LOL that's what I was thinking.

I just made a quick google check about the population.


Let's say some more % are 14-18 years old, so also not really crypto material. And I don't think a good amount of people 65 and older are into crypto as well.

That would leave let's say 64% or the population that is between 18-65. So almost 80% of this group must own crypto according to this report.

Seems legit.

Well said. This has been happening with most of the country people. Understanding the goodness of bitcoin and making investment or buying it is different from buying/investing into bitcoin by situation. Turkey is a country that is suffering financial problems, and some decisions supportive to bitcoin usage needs to be appreciated. Because people have more other choice, yet they've got into cryptocurrency shows that people have well known about it and trust in it.

Interesting? I mean, it depends how we want to see this news: if it's interesting because there is a country whose half population own crypto, then yes, it's pretty impressive; if it's interesting because people are buying crypto to protect themselves from inflation then I wouldn't say it's a surprise, it's just a natural consequence.

The inflation rate is increasing in almost every country. For example, if we look at the inflation rate in our country (Pakistan), we will see that it has increased from 227 to 235 in the months of July to August. The purpose of explaining all this is to indicate that adoption of crypto has also increased in that time period. More and more people are now adopting BTC because they understand that it is one of the best assets and provides a great hedge against inflation in the long term. But there are still many people who are afraid to adopt BTC due to its high volatility.

Crypto really is a blessing for everyone. It has provided a doorway for the poor to escape from the matrix. I hope you are aware of the matrix, in which people are stuck in a loop of like and struggle for their lives till they die. In that loop, most people are born poor and die poor too because they were not given the opportunity, but here, BTC has helped a lot of communities, people, and countries to make their wealth more stable over the course of a maximum of 5 years.

But I am really amazed to see the adoption of BTC there. The people of Turkey are also well educated, and the country might be facing high inflation like others, but the standard of living is still a luxury there. People in that country are good, as some of my acquaintances have gone there for studies.

At least we can understand the actual number will be more than in the stats. Because as you said, Turkey have 85 million of population and if you have asked only 500 then we should not say the adoption rate has increased from X point to Y point. Well think for a second, if survey of 500 peoples is showing the positive impact the imagine the outcomes if survey was done to 50 million. I know out of 85 million people most are old and most are so young that they do not wanted to involve in Crypto but the remaining ones must be adopting Crypto especially those who knows and aware of the current financial systems.

I just wanted to share my idea about your statement as I did not meant any disrespect and if my words have done any damage then I am sorry.

The number is huge, half of the population holding crypto in a country means a very big number. I am not sure how they survey these numbers, but I don't believe it's true. However I have a few crypto friends in Turkey as well, and we often talk regarding market conditions. Seems they are more advanced than us. So pretty sure Turkey is a crypto-friendly country, but I don't think half of the people are involved with crypto. If the news is true then of course it's better for the overalls crypto community.

But in this article it is also mentioned that the kuCoin Survey is based on 500 people which we do not know who was surveyed and seeing from the results it could be that it is a person who is already in cryptocurrency in it because seeing from the same article.


this means that 97 per cent of the total respondents asked already knew about crypto.

Even though it can also be very good for positive news but I think we have to be aware that sometimes things like this can be exaggerated even though if it is true then it is very good for them.
I also agree with what @Z-tight said where in the end the population with a large number as he said 500 people cannot be a real benchmark in this case especially we don't know if this survey was conducted with randoms taken from various regions or only kuCoin users did it because this also actually needs to be reviewed.

Everyone calling is bs?
It's elephant combined with dino combined with Godzilla s****!


I love how DdmrDdmr probably spent more time on digging data for his reply than the guys doing the survey!
So, the bais strats from here:

Muslims in Turkey are not all Taliban-style Muslims, judging a whole population by the predominant religion is the bulletproof way to get it wrong, Congo, Romania, and Brazil all have more than 90% Christians, what else do they have in common?

The point for Kucoin to overhype the number of people who have adopted bitcoins in the country  is to draw attention to their exchange among the citizen of the country who are still yet to adopt bitcoins for them to know that they are being left behind by their fellow citizens. The current population of Turkey is 85,893,889 as of Sunday, September 3, 2023 reference. Half of the population is 42,946,944, and that is a lot still. I do not believe the report. They would have said that the number of people who own crypto is now getting closer to half of the entire population, not half already.

It makes sense now, it's just a research survey. I was actually confused that how can this number be the actual number of Crypto Investors as Turkey has a population of 85 million, that means according to them, approx 43 million people are using Crypto. This number can't be real at all. I mean what a way to sell their news and make it a clickbait, good job Decrypt team. I mean by this logic, there are more than 700 million people already using Crypto if follow this.

It's also good that we encourage others in bitcoin adoption but bot as when we are not true about the actual fact of the situation on ground, Turkey is a country with less population compared to some other developed countries, not only that, we look at the religious beliefs and their population statistics as an overall assessment while looking into the case of present situation, the population is far lower to in terms of bitcoin adoption and yet among these bitcoin users lies some who are into other cryptocurrencies together with bitcoin.

The basis of their survey is depicted here:
https://www.kucoin.com/blog/more-than-half-of-Turkish-adults-invest-in-crypto

Whilst the full public survey resides here (pdf on a Google drive, so I’ll place it in code markers):

Disregarding (for now) the full content of the survey, the first aspect to look into is the methodology, being as follows as per their words state in the full report:
Later on, a foot note on a chart also indicates that:

Turkey’s polulation is close to 86M people. Looking at a recent breakdown of the population's pyramid structure, I’s say that roughly 60% of the total polulation falls into the age range of the survey (close to 52M people). Playing around with their sample size calculator ,the sample size used for the survey should suffice (those alleged miracles of statistics), … but …. The key is that the survey panel has to be spared, non-biased and representative.

This latter factor is the key, and I’m not really convinced that it is met. The 1058 Turkish adults were selected using SurveyMonkey Audience (as per their own description). SurveyMonkey allows one to conduct a survey using their panel data (for a cost). The people that conform the panel are generally volunteers that get paid to fill in a survey when contacted to do so (see https://paidfromsurveys.com/surveymonkey-rewards-review# for example). This creates a first stage of potential bias, as the abstact profile is that of those with a certain technological degree of knowledge, willing to do stuff (i.e. surveys) online. I’d confront that to a random set of 1.058 people chosen at an average market. The latter should prove to be more heterogeneous in profile and knowledge (or lack off).

To contrast, another survey stated that figure in 2022 was of around 5,5%, whilst Statista set the figure at 47% for 2023, which backs KuCoin’s results ...


In any case, the figure 52% figure does seem overly high, and it is difficult to assimilate as a fact to be taken for granted without questioning the potential bias of the survey panel.

It makes sense and is sad that Turkey is using crypto. When hyperinflation makes even everyday needs too expensive to buy, people naturally look for other protection. And since cryptocurrencies provide a safe haven from bad money management, the rise in their use is both expected and a good thing.

The statistics are more than just numbers; they show that people are losing faith in their government and are pleading for financial stability. It sends a clear message to the world: when things get hard, people change and adapt. If only more countries would learn from this and work with crypto instead of against it.

A sample of 500 people will not in any way represent the entire Turkish population. They also didn't state the demographic spread of the respondent and there was no data analysis method. Adoption of cryptocurrencies will be very high in Turkey due to the fall of the lira and the high literacy rate in Turkey but 52% is a mere assumption. Even in the US where there is high crypto awareness and the presence of many notable crypto-related firms, a report claims that only 21% of adults in the US own cryptocurrencies as of last year. Maybe Kucoin has other intentions for this statistical hype.

Think about it: there aren't even enough funded Bitcoin addresses in existence for half the population of Turkey to own one.

It's a flawed survey and the size of the sample is not enough for a country with close to 90 million population. While it's good to see the growing interest from the people to adopt cryptocurrency because of the sky high inflation. But I believe if the inflation keeps on increasing, a lot more people will eventually become interested in cryptocurrency and alternatives like Gold and Silve. It's a net positive news!

After reading that article once again, I don't think that there was any survey al all and instead and they just pulled that 50% number out of their ass. Number I believe even less is that "47% of crypto investors are females between 18-30". Imho, this is nothing but marketing.


It might be high compared to other countries, but I seriously doubt that real percentage is anywhere close to a double digit number, let alone 50%.


I didn't get that impression at all, judging by the local boards of countries with predominantly muslim population.

It only means there are just above 250+ people who responded to the survey and who do own some coins which Kucoin also picked to join the survey.  But why is Kucoin's rep in the last paragraph talking about their country's Digital Lira?

Muslims afaik are not very friendly to crypto, I remember there are a few threads about it in this forum itself and Turkey's population is more than 90% Muslim. You can already tell the numbers won't add up. My country also has an inflation issue which is more than 15% already since Covid 19. None so far is talking about the adoption of crypto but basically more are using our CBDC.

It's just a research survey and it doesn't hold by any means by exact total numbers of their population. When the article say +50% it only means that those are the number of adult people who can manage to hold crypto/finance. But actually it's a good news no matter the number is as long it is uptrend.

I share your scepticism, my friends, especially if the study is based on such a small sample as I have put in bold. I would like to see the method of selection of respondents because we already know that statistics can be cooked and KuCoin is interested in headlines like that.

In any case I am sure that in Turkey the adoption is high due to the very high inflation they have been suffering for a long time.

If Turkey or any other country is experimenting such a degree of inflation, then it is not surprising people is opting to move their saving off their local currency in favor of Bitcoin or stablecoins, it is matter of common sense: nobody wishes to lose their wealth, not matter how relatively high or low it is.

On the other hand, assuming most of people in inflationary economics seek to buy centralized stablecoins on centralized exchanges, it means that in terms of adoption it is good, but in decentralization spread it is not significant. I would dare to say only a fraction of those who started by buying USDT or USDC will eventually move some of their money into non custodial wallets in form of a truly decentralized coin as Bitcoin is.

If we talk about alternative, old generation will say gold is the best option.

I think most of them convert their fiat into physical or digital gold, some of them buy crypto might be for diversification or making quick profit. Maybe the last donation when they get nature disaster through crypto make them aware of crypto existence and think it has a value.

They have chosen crypto over fiat due to high inflation. It seems overexaggerated but not impossible at all and I can see why. They are losing their wealth every day due to inflation and they need to find an alternative. There isn't any better alternative that is more convenient than crypto so if the number is not 50% I think it is more than 30% already. We have seen how Venezuelans, Sri Lankans, and Jordanians were using crypto as their payment system and the thing is most of them are not amazed by the innovation. They are forced to use crypto because there isn't any better alternative.

This will be a good news if what you have written and the source of the news is true but I think there could be some atom of fallacy in it. I don't really know much about Turkey but if that's true then Turkey as a country could have been part of the countries that have high numbers of cryptocurrency users. Maybe the adoption of crypto users in Turkey may keep increasing but I don't think half of the citizens are crypto users looking at the graph of countries with users. 

This statistics is BS, Turkey is a country of over 85m people, and you ask just 500 people what their opinion of crypto is, and you use that to draw conclusion that half of the people in Turkey now own crypto. Kucoin are probably doing this to atract attention to themselves, it has to be some sort of marketing strategy.

It is difficult to get statistics on the number of people using crypto in a particular region, but this one is a very weak attempt that does not in anyway paint the actual picture, Kucoin is just picking numbers out of a hat and making an exaggerated conclusion.

Dunno, this number seems grossly overexaggerated to me, as they usually are when it comes to crypto adoption. I mean, I would love if its true, but I honestly doubt that 50% of people in Turkey owns crypto, and if you check the article Kucoin based that number on survey on 500 people only.

Looking forward to hear whta out members from Turkey has to say about this, do they have a feling that half the people around them owns crypto.

https://decrypt.co/154724/republic-of-turkey-crypto-adoption-half-kucoin

Interesting to see how people in Turkey are preferring Crypto over fiat to save themselves from the inflation.
According to this article, crypto adoption has increased from 40 percent to 52 percent of the Turkish population over the last year and a half.

In June this year, Turkey's Inflation was reported at 38.2% and it's currently 47.83% in August.
https://tradingeconomics.com/turkey/inflation-cpi

I am sure for the people, Crypto is surely a bless.