Turkish lira and crypto: How Turkey's currency shapes digital asset trading

When the Turkish lira, the official currency of Turkey, which has lost over 90% of its value against the US dollar since 2018 keeps dropping, people look for alternatives. That’s why crypto isn’t just a gamble for many in Turkey—it’s a lifeline. With inflation hitting over 60% in 2024, ordinary families turned to Bitcoin, USDT, and even lesser-known tokens to protect their savings. The Turkish lira, the official currency of Turkey, which has lost over 90% of its value against the US dollar since 2018 doesn’t just affect prices at the market—it reshapes how people think about money entirely.

Local crypto exchanges like Cryptal, a Georgia-based platform that allows direct trading of Turkish lira (TRY) for Bitcoin and other cryptos became popular because they let users buy crypto with TRY without jumping through banking hoops. Unlike global platforms that block TRY deposits, Cryptal and a few others built simple interfaces for everyday users. Meanwhile, the central bank, Turkey’s monetary authority that has repeatedly intervened in currency markets with unorthodox policies kept pushing interest rates down, making savings accounts useless. So people moved money into crypto not to get rich overnight, but to stop losing it every month. Even the government’s stance shifted—after banning crypto payments in 2021, Turkey now regulates exchanges under the ISA 2025, a legal framework that classifies crypto as a digital asset and requires exchanges to register with authorities. It’s not full approval, but it’s a step toward recognizing what’s already happening on the ground.

What you’ll find here isn’t just theory. These posts cover real tools people use—like exchanges that accept TRY, scams that target lira holders, and tokens tied to local demand. You’ll see how a meme coin like POOH or a gaming token like GPTON can become a side income when your paycheck loses value by lunchtime. There’s also deep dives into how crypto seizures, exchange hacks, and regulatory crackdowns play out in countries where the national currency is crumbling. This isn’t about speculation—it’s about survival, adaptation, and finding real ways to keep value when the system fails.