A Moscow family has been living in Turkey for two years now, earning income in cryptocurrency. Specialists from AWX told how their financial life is structured.
Why Türkiye?
Many families from Russia were looking for a way to stay abroad after a wonderful vacation. Türkiye turned out to be one of the attractive options: it did not require a visa — you could live up to 90 days in Istanbul, Antalya and other large cities.
The Turkish lira was depreciating, but the local market and abundance of exchangers created opportunities for people with cryptocurrency income.
One family from Moscow decided to stay there permanently, as salaries in cryptocurrency and stablecoins solved their problems with sanctions, currency restrictions and difficulties in opening bank accounts in Turkey.
How do they live?
The main source of income is earnings through freelancing or remote projects with payment in cryptocurrencies, for example, USDT. Their freelancing switched to crypto mode back in Russia.
The exchange of cryptocurrency for lira is very simple through local and international services. Some use P2P platforms — the rate there is higher than the official one and is close to the street exchange. There are also physical exchangers in Istanbul, where you can convert crypto to lira in a matter of minutes.
Legal background
In Turkey, it is permitted to own and trade cryptocurrencies, but not to use them as a means of payment.
Since July 2024, a licensing regime for crypto service providers has been introduced — all exchanges and wallets must be registered in Turkey and comply with KYC and AML rules.
Crypto exchanges charge a fee of 0,03% on each transaction, which at current turnover amounts to about TRY 3,7 billion per year.
An approximate scheme of life with the help of cryptocurrency:
- The family earns income in cryptocurrency in Russia or from international freelance work.
- USDT is exchanged for lira in special services.
- Part of the funds are deposited into bank accounts — some banks open accounts for resident visas.
- Living expenses: rent, utilities, food and services are paid in lira.
- Income from trading, investing or working remotely in crypto allows you to pay for housing without resorting to SWIFT and international banks.
Main risks and nuances
Bank compliance and MASAK:
Large amounts of money exchanged or transferred may attract the attention of MASAK (Financial Crime Control Commission). Especially if the funds are transferred to a Turkish account from a foreign exchange. Therefore, it is better to exchange cryptocurrencies in offline offices, without using local bank cards.
Restrictions on the use of cryptocurrencies:
It is possible to own cryptocurrencies in Turkey, but you cannot pay for goods and services with them. Everything is only through exchange in TRY.
Tips for beginners
- Earning income in stablecoins is safe and profitable when leaving Russia.
- Use legal Turkish crypto exchanges with KYC and license.
- Avoid paying with crypto directly in stores or services — only through exchange for TRY.
- Document sources of income, store transfer history.
- If necessary, consult with lawyers regarding legal residency and compliance with MASAK requirements.
- Keep part of the funds in TRY in accounts by opening an account based on a residence permit.
Bottom Line: Why Does It Work and Who Is It For?
The family’s successful case shows that if you have cryptocurrency income, exchange skills, and an understanding of regulations, it is quite convenient to live in Turkey using cryptocurrency. This works if:
- you earn a stable income in crypto;
- know how to quickly convert USDT to TRY;
- work through offline exchangers.
Many relocators have freed themselves from problems with sanctions and currency controls, leaving the opportunity to live financially comfortably outside of Russia, while maintaining freedom to dispose of their assets.
This article does not constitute investment advice. The reader bears full responsibility for any actions taken based on the information obtained on our site. The acquisition of high-risk assets is associated with additional risks.