While the minimum wages of the countries become clear towards the end of the year, how much Bitcoin can be bought with these minimum wages?
As the end of the year approaches, the effects of the turbulent process in the global economy continue. The USA left behind a year full of interest rate hikes in order to prevent inflation. However, on the other hand, this tightening in the global economy started to ring the bells of recession. Challenging economic processes have also made the minimum wages of countries clear. So, how much Bitcoin purchasing power do the minimum wages of the countries provide? How much dominance does Turkey have in the global Bitcoin purchasing power with minimum wage?
Minimum Wages of Countries
The minimum wage is also referred to as the minimum wage. In other words, the minimum wage is the lowest wage that can be legally paid to workers. This means that workers will not work below the set wages. Each country has a minimum wage level according to its own economic structure. Some of the data below is taken at an average price as it can show volatility.
What is the Minimum Wage in the USA?
The USA is among the strongest countries in the global economy. In the country with a very high purchasing power, the calculation of the minimum wage is also done in hourly planning.
In the USA, the minimum wage can vary from state to state. Taking the state average, the minimum wage in the US is $7.5 an hour. On a monthly basis, the minimum wage in the US corresponds to an average of $1,550.
US minimum wage data is taken from Habertürk.
What is the Minimum Wage in the UK?
England is among the countries with a strong economic structure. The first minimum wage in the country was introduced in 1999. So, what is the current minimum wage in the UK?
The UK minimum wage stands at £9.5 ($11.54) per hour. On a monthly basis, the UK minimum wage stands at £1,330.
UK minimum wage data from the BBC.
What is the Minimum Wage in Germany?
Germany is one of the countries that live at the welfare level with its industrial moves and strong economic moves. The German economy moves in the euro centre.
The minimum wage in Germany is 12 euros ($12.74) per hour. With the law that came into effect in October, the minimum wage was set at 12 euros per hour. The minimum wage in Germany corresponds to the level of 1,600 euros per month.
German minimum wage data is from Euronews.
What is the Minimum Wage in the Netherlands?
The Netherlands has managed to attract attention with its various works especially in the field of agriculture. The Netherlands increased the minimum wage by 10 percent years later.
The minimum wage in the Netherlands corresponds to the level of 89 euros per day. The country’s minimum wage is approaching 1,934 euros per month.
Dutch minimum wage data is from BAL.
What is the Minimum Wage in France?
France was among the countries affected by the tightening of the global economy. The European country was hit by 10 percent inflation. In the new year, the minimum wage in France is planned to be 1,809 euros per month.
The minimum wage in France stands at 10.85 euros per hour. On a monthly basis, the minimum wage in France corresponds to 1,645 euros.
France minimum wage data is from Endlessabroad.
What is the Minimum Wage in Turkey?
Turkey is among the countries affected by the global economy. The minimum wage in Turkey for the new year has not been determined yet. Among the minimum wage discussions, there are 7,800 to 9,000 TL levels.
The minimum wage in Turkey corresponds to the level of 5,500 TL on a monthly basis. The gross part of this wage is at the level of 6,471 TL.
How Many Bitcoins Can Countries Get With a Minimum Wage?
Looking at the global investment world, the dominance of countries in these areas draws attention. Because, each country invests in the current product according to its own purchasing power. For example, on a gold basis, the people of the USA and the people of Africa cannot purchase to the same extent. This situation leads to more dominance of countries in certain investment products. Changing conditions and the economic situation of the countries that dominate can have a direct impact on the volatility of those investment products.
For example, the USA made the anti-inflationary interest rate hike moves. This resulted in a bearish result for the Nasdaq. When looked at, Nasdaq stands out as a stock market with the most US investors.
A similar situation exists in the cryptocurrency market. Countries with the most cryptocurrencies usually have the highest purchasing power.
In the US, with the current minimum wage, about 0.092 Bitcoins (BTC) can be purchased per month. Also, in the US, a minimum wage can buy 1.28 Ethereum (ETH) per month.
In the UK, a current minimum wage person can purchase approximately 0.096 Bitcoin (BTC). Also, a UK minimum wage earner can buy 1.33 Ethereum (ETH) per month.
In the industrial country of Germany, an existing minimum wage investor can buy about 0.10 Bitcoin (BTC) per month. Also, a minimum wage investor in Germany can buy 1.40 Ethereum (ETH) per month.
In the Netherlands, one of the farming countries, a minimum wage investor can buy 0.12 Bitcoin (BTC) per month. A minimum wage person in the Netherlands can receive 1.70 Ethereum (ETH) per month.
An existing minimum wage investor of France can accumulate 0.10 Bitcoin (BTC) on a monthly basis. In addition, a minimum wage French citizen can receive 1.44 Ethereum (ETH) per month.
A minimum wage earner in Turkey can purchase 0.017 Bitcoin (BTC) on a monthly basis. In addition, a minimum wage Turkish citizen can purchase 0.24 Ethereum (ETH) per month.
Can Turkey Be Influential Despite Bitcoin Purchasing Power?
If we think of the crypto money market as a cake, on a European basis, Turkey is one of the countries with the least share of this cake. However, this situation does not progress in direct proportion to Turkey’s dominance. Because Turkey is among the top 5 countries in cryptocurrency investments.
With its crowded population and dynamic structure, Turkey has quite a lot of crypto investors on a person-to-person basis. Although the purchasing power of other countries is higher, the number of buyers is quite small.
However, when looking at investment instruments, the USA and European countries can stock more from an investment product. Where Turkey buys 1, Europe and the USA can buy 10. This situation may also affect the general market due to the economic and financial conditions in those countries. The decline of cryptocurrencies started with the factors of China and the USA. Because the biggest investments are made from these countries.
The people of Turkey generally make long-term investments. More people’s Bitcoin-based investments may bring Turkey to the fore in terms of its dominance in this market. This may make it easier for Turkey to have a say in the course of the crypto market.
Note: When the current state of the minimum wage in Turkey is determined, the news content will also be updated.