🌍Turkey seeks shelter from inflation: a number of mainstream exchanges have applied for cryptocurrency licenses
According to the latest news, Coinbase, KuCoin and other large cryptocurrency exchanges are applying for operating licenses in Turkey. Behind this move is that Turkey is suffering from severe inflation problems, and its currency, the lira, has depreciated against the US dollar at a remarkable rate. In the past month alone, the lira has depreciated by 2.07% against the US dollar, 8.49% in six months, nearly 20% in a year, and as much as 83% in the past five years. In the long run, the lira has depreciated by a staggering 95.52% against the US dollar.
In such an economic environment, cryptocurrency is not only an investment opportunity for the Turkish people, but also a means of protecting their assets from erosion. If these exchanges can officially operate in Turkey, the Turkish people will be able to protect their purchasing power by purchasing cryptocurrencies, which will undoubtedly bring a ray of hope to their financial situation.
However, this is not just a problem for Turkey. People in many other countries around the world have also had to face the reality of depreciating fiat currencies, and cryptocurrency provides a possible effective solution. For them, cryptocurrency is not only a path to financial freedom, but also another way to resist inflation and protect their hard-earned money from erosion!
Therefore, when our portfolio suffers losses due to market corrections, we should realize that our situation is relatively much luckier than those whose fiat currency value is shrinking every moment.
Therefore, it is crucial to maintain a stable investment mentality and security awareness in the global economic fluctuations.
💬 What do you think of the role of cryptocurrency in Turkey and other countries with high inflation? How do you think we should view the volatility of the cryptocurrency market? Leave your views in the comments section!
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