Which Countries’ Fiat Currencies Are Most Used on Binance? No. 1 is a Surprise
In transactions carried out with fiat currencies on Binance, the world’s largest cryptocurrency exchange, the Turkish lira came first by a large margin.
Turkish lira market share rose from 9% in early 2021 to an all-time high of 81% in August, before falling back slightly in October. While the Euro and Sterling lost share, the Brazilian real also became more popular.
As Bitcoinsistemi.com, we published Kaiko data for September and shared that the Turkish lira was again the leader with 75%.
According to the latest data, the Turkish lira maintains its leadership, while the Euro, which is in second place, maintained its second place, although it also decreased. According to the latest data, the Brazilian real ranks third among the most used fiat currencies.
It should be noted that these rankings are valid for Binance’s global platform.
However, until recently, the company’s US arm, Binance.US, also allowed dollar transactions. However, after regulatory pressures, they switched to a cryptocurrency and stablecoin-only system. The US platform announced in its statement today that it had also suspended dollar withdrawals.
*This is not investment advice.