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Turkey Sees Increased Crypto Adoption Amidst Inflation Concern

Turkey has witnessed a notable surge in cryptocurrency adoption, with the number of crypto users in the country rising from 40 percent to 52 percent over the past year and a half. The data, collected through responses from 500 participants, is part of KuCoin's "Understanding Crypto Users" report, highlighting the growing interest in cryptocurrencies among the Turkish population. Similar trends have been observed in countries like Brazil and Nigeria, where inflation has been a pressing concern. The survey revealed that 58 percent of respondents invest in cryptocurrencies primarily to accumulate wealth over the long term, while 37 percent view it as a store of value.

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