Bitcoin — the global “ownerless” money — is becoming a common currency used in many commercial transactions, growing beyond just being an investment instrument that often makes headlines for its rapid appreciation. Although it has no legal basis in any country, the use of bitcoins has been increasing globally, including in Turkey, where an extensive online infrastructure is already in place.

Its daily value can be tracked on platforms such as btcturk.com, coin-turk.com, paribu.com and koinim.com. Some of those sites function as 24-hour money markets.

Advertising for the virtual currency is strong. It is remarkable how an “ownerless” currency has been embraced so widely via the internet, both in Turkey and globally, and that widespread social media networks have been dedicated to it. All conceivable questions are being answered on news sites and consultancy platforms. There are even “bitcoin men” who have organized across Turkey and provide consulting both in face-to-face meetings and online.

Turkish businesses that have begun accepting bitcoins include companies in the fields of informatics, engineering, advertising, law, health care and publishing as well as smaller enterprises such as hardware stores, opticians and stationers. Turkish news sites publish lists of places that accept bitcoins in Turkey and around the world. The list includes cafes, restaurants, catering companies, pharmacies, taxi stands, tattoo parlors and convenience stores.