The effects of crypto coins on the banking sector

This research was carried out to determine the effect of cryptocurrencies on banking sector payment methods. For this purpose, 10 private bank employees, who have at least 10 years of experience in the banking sector operating in Turkey and who are experts in their fields, determined by snowball sampling method, constitute the working group. In the research, the phenomenology design, which is one of the qualitative research method designs, was used. Data were obtained online and face-to-face through a semi-structured interview form. The data were evaluated with content analysis, one of the qualitative data analysis methods. As a result, it was concluded that cryptocurrencies will differentiate the payment methods of the banking sector due to their convenience and the opportunity to make transactions at a faster and lower cost. In the study, it has been determined that the banking sector is in the preparation phase of research and development studies with the expectation of legal regulation regarding the payment methods of cryptocurrencies.