Now PayPal has left Turkey, the Turks should use Bitcoin

7:01:00 PM
Now PayPal has left Turkey, the Turks should use Bitcoin -

The near 75 million inhabitants of Turkey may not use PayPal to pay for goods online beginning June 6, 2016. PayPal's decision to withdraw from Turkey resulting from the expiration of a required financial license. Rather than risk the wrath of the financial regulator of Turkey, PayPal will withdraw from Turkey. Users will be able to withdraw funds from their existing Turkish banks.It account is very likely that PayPal and Turkish Banking Regulation and Supervision Agency (BDDK) will come forward in the future and Turkish residents will be able to use PayPal to pay for international goods and services again; however, until that time comes, many people and especially companies are looking for a new way of international legal payment to depend for business and internet purchases

You can always use Bitcoin pay for VPN

While cryptocurrency Bitcoin has proven to be effective for domestic payments, the local paper money is still king. The combination of the network effect, the strength of the army of a government, and the international priority means it is unlikely to change in the near future. For international payments, however, things are a bit confusing. The functions of the financial system of the world as a mishmash of real jungle walled gardens. To move from one garden to another requires a fee. In turn, PayPal such costs for users because of the true costs of regulatory compliance. Even if they wanted to pay the fee, the end user in Turkey is now unable to use PayPal to pay for their VPN service - but they will still be able to use Bitcoin. Bitcoin can be used wherever the Internet reaches. In combination with the use of VPN, you can easily defeat Internet censorship.

You will be able to use Bitcoin to pay for almost everything

According to the Turkish Statistical Institute, Turkey imports the most goods from China, Germany, America and Russia. All four of these countries are strong cryptocurrency usage bastions. In countries like Germany and America in particular, services like PayPal are always preferred by users. However, on the sidelines of the interconnected financial system of the world - as a country of nearly 75 million - cryptocurrencies such as Bitcoin are incredibly useful at least as a means of exchange between fiat currencies of two countries. Exactly when you will be able to buy anything with Bitcoin remains to be seen. Government action as Turkey is still accelerating the timetable for adoption Bitcoin, however.

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