After the announcement of PayPal that it would no longer offer their services in Turkey (June 6, 2016), Bitwala, a bitcoin company, has widened its special offer for Turks.
PayPal news was pretty shocking for everyone and the Turkish watchdog BDDK did not provide license for Paypal. So loads of Turks were without the possibility to use online payments services.
Nevertheless, Bitwala knew what it was doing and saw an opportunity here. Turks can now use Bitwala’s free bank transfer together with its bitcoin debit card, using only a code “turkishdelight” during a sign up. As bitcoin debit cards functionality is close to the standard payment card we know, it became popular immediately. The only aspect is different naturally – it is about bitcoin. In the country, you can buy bitcoins on the wellknown exchange BTCTurk but there are also LocalBitcoins.
Users can enjoy Bitwala’s direct payment for goods and services and fo now (but limited period), Bitwala provides zero-fee bank transfers to other users, as long as the account owner resides in Turkey. ATM withdrawals through the Bitcoin debit card are not a subject to additional charges either.
What makes Bitcoin vastly different from traditional online payment solutions is how the user is always in full control of their funds. Companies such as PayPal act as an intermediary, which holds on to user funds and decides who can or can not send money to specific individuals or regions.
The cryptocurrency becomes popular in this cases due to its availability and decentralized character, what makes him a far better choice compared to other financial means. No banks are involved in the process and no one needs permission from their government’s watchdogs to make use of Bitcoin either. The popular cryptocurrency never asked for permission; it is here, and it will not go away anytime soon. In fact, 45% of citizens feel Bitcoin is the future of money and payments in the country.
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