Cryptocurrency investors and traders in Turkey shall know how to choose the right exchange to buy, sell, and trade crypto. Given the stringent regulations in place, crypto investors shall understand clearly how it all works and what crypto exchanges one may use.
First of all, all crypto exchanges in Turkey are regulated by the Capital Markets Board (CMB). Those cryptocurrency exchanges that are not registered with CMB operate illegally. Thus, it is strictly recommended to avoid them unless you want to lose your funds in a scam.
Also, Turkey imposes a capital gains tax of 15% on all crypto transactions. Any profit made from selling and buying crypto is subject to this tax; therefore, it is crucial to understand how cryptocurrency taxation works before start trading digital assets.
All platforms accept a bank transfer in Turkish Lira to fund a crypto account, along with other popular payment methods such as Google Pay, BKM Express, or you can send crypto from any of your Bitcoin wallets or a wallet that supports other coins, depending on what coins you have.
Top Crypto Trading Platforms in Turkey
Even though requirements for crypto exchanges are high, Turkey is attractive to crypto investors and traders. There is demand for crypto trading services, this is why there are many exchanges operating in the market and even several Bitcoin AMTs. So, selecting the best platform is challenging indeed.
This is why we have prepared a list of the top crypto exchanges, along with their description.
BullPerks Swap Functionality - the best option for swapping crypto assets
BullPerks is a community of like-minded individuals who want to invest in top-tier projects at the same terms as VCs. With its swap functionality, BullPerks enables investors to swap over 400 coins and tokens across 15 networks, without excessive gas fees, without leaving the BullPerks platform. The liquidity is aggregated from the top liquidity providers such as 1Inch, Swing, Paraswap, and Dodo.
With these parameters, BullPerks crypto swap functionality can efficiently complete with the best crypto exchange in Turkey.
Features
400+ supported coins and tokens
Advanced investment options based on the user's tier
Native coin
Investment options
Equity deals
Patricipation in IDOs
Bybit - the best overall Turkish crypto exchange
Bybit is one of the popular cryptocurrency exchanges where one can trade crypto derivatives. Bybit offers Turkish investors advanced trading features with up to 100x leverage, and over 300 coins and tokens for spot trading.
Bybit is considered by experts as one of the top crypto exchanges thanks to its extensive set of functionalities and robust security measures.
Features
Over 300 coins and tokens available for trading
Up to 100x leverage
Testnet environment
Low trading fees
Trading bots
Investment options
Staking
Farming
Copy trading
Trading with a demo account
OKX - the best alternative Turkish exchange
OKX is one of the top cryptocurrency exchanges that are known all around the world. It offers all types of cryptocurrency trading (spot trading, derivatives trading, options trading) along with other ways to earn on crypto such as staking and farming, among others.
The trading fees are low and start at 0.1%.
OKX is one of the first international cryptocurrency exchanges that has introduced an extensive strategy of expansion in the Turkish market. So, along with other features, all the platform functionalities are translated into the Turkish language, the platform supports the Turkish Lira and collaborates closely with a number of Turkish banks. There is also customer support in Turkish. Users can make Turkish Lira deposits from any local bank account or any other convenient payment method.
This crypto exchange adheres to all the regulations and provides its users with a secure environment for individual and institutional traders.
Features
User-friendly interface
Over 300 cryptocurrency assets
Multiple deposit methods
Investment options
Savings
Staking
Trading with a demo account
Spot trading
Margin trading
Flash deals
Binance - the best international cryptocurrency exchange
Binance is another leading cryptocurrency exchange that provides crypto traders with various trading options. It supports over 350 digital currencies, and as a Turkish cryptocurrency exchange, it supports the Turkish Lira and collaborates closely with the country's central bank to offer Turkish traders an extensive set of deposit methods.
A user-friendly interface makes it possible to enable all Turkish crypto investors to benefit from cryptocurrency trading. Users can communicate with customer support in Turkish.
The industry-leading crypto exchange is known among other crypto apps for its low trading fees, top security level (Binance can be considered the safest crypto exchange), and extensive set of functionalities.
Features
Cold storage for crypto coins
NFT marketplace
Over 350 digital currencies available for trading
Reasonable trading fees
Multiple deposit methods
Access to DeFi
Advanced crypto trading features
Investment options
Staking
NFT trading
Trading
Lending
KuCoin - the best altcoin Turkish exchange
KuCoin is the best crypto exchange for those Turkish investors who want to trade altcoins. With over 500 coins and tokens, KuCoin is a leading exchange in the Turkish crypto market when it comes to the number of supported trading pairs.
Of course, one can perform standard cryptocurrency transactions with known digital assets, one can buy Bitcoin, swap it for another popular crypto such as Bitcoin cash, sell Bitcoin, and similar. But KuCoin expands the number of supported crypto assets to less known tokens.
This cryptocurrency exchange offers Turkish individual and institutional investors customer support service in the Turkish language. Multiple deposit methods by using Turkish Lira are also available.
The platform adheres to all the laws and regulations which makes it one of the most reliable cryptocurrency exchanges.
Features
500+ supported coins and tokens
Leverage up to 100x
A marketplace
Advanced trading bots
Investment options
Margin trading
NFT trading
Lending
Staking
Bitget - one of the best cryptocurrency exchanges known for its secure trading environment
Bitget is headquartered in Singapore but has a strong presence in the Turkish market. This is one of the best crypto exchanges in the country. It provides over 250 assets for cryptocurrency trading that make a wide variety of trading pairs.
Bitget is a leading Bitcoin exchange that excels in trading volume and offers a reliable and secure environment for Turkish investors.
This Turkish cryptocurrency exchange offers spot and futures trading functionalities and doesn't charge its users when they deposit funds in Turkish Lira.
Features
Leverage up to 125X
250+ supported coins and tokens
Very low trading fees
No deposit fees
Investment options
Margin trading
Copy trading
Trading with a demo account
BtcTurk - an exchange with the lowest commissions
BtcTurk is an internationally operating platform of Turkish origin. Along with an exchange functionality, the platform offers its users a comfortable trading terminal to benefit from a variety of crypto trading instruments. The terminal is available both as a desktop version and as a mobile app for Android and iOS.
BtcTurk supports all major cryptocurrencies such as Bitcoin, Ethereum, Litecoin, Ripple, Cardano, along with others, but fiat is represented by Turkish Lira only.
This exchange is favored by residents of multiple countries because of its low commissions, a user-friendly interface, and large trading volumes.
Features
Two trading modes for professionals and newbies
No deposit fees
A mobile application is available
High security level
Algorithmic trading is available
Investment options
Not available
Paribu - a platform for exclusively Turkish users
Pabiru is a cryptocurrency exchange of Turkish origin launched in 2017. Its main difference from other available major platforms in the country is that Paribu is oriented to exclusively users who either reside in Turkey or have access to a Turkish cell-phone and a bank account in a Turkish bank.
Paribu is distinguished by a high security level. All users' funds are stored in cold wallets to protect them from hacks and stealing.
The only commission charged by the exchange is the one for placing Market Maker and Market Buyer orders, other fees and commissions are absent. It makes the platform very cheap to use. Considering the fact that the platform offers all the needed functionality for crypto users and traders, the top safety level, and the availability as a desktop version and a mobile application, this exchange can be considered one of the best exchanges in the Turkish market.
Features
Clear and transparent fees
Top security level
Excellent customer service
Investment options
Not available
How to Choose the Right Crypto Exchange
There are many crypto exchanges in the country. As a trader or investor, you shall understand clearly how to pick your optimal platform from the best crypto exchanges in Turkey. Experts advise you to pay special attention to these parameters.
Security
Accessing the security level of a crypto exchange is the first step you shall take. It involves the analysis of various security measures that a reputable exchange takes to protect its users' funds.
- To ensure you are entrusting your funds to a reliable crypto exchange in Turkey, check whether:
- The exchange is regulated and licensed by the authorities
- The crypto exchange supports a two-factor verification to protect user accounts
- The best crypto exchange has cold storage for assets
- It has insurance so you can count on some refund in case of the crypto wallet of the platform is compromised
By taking all these factors into consideration, you can ensure a maximum security level for your funds.
User-friendly interface
Each crypto exchange in Turkey has its unique features and functionalities. When you are selecting the best crypto exchange, pay attention to its user-friendliness. A complicated interface means more errors and may be a cause of financial losses. This is why it is important to pick a platform that has an easy-to-use interface and is easy to navigate.
Trading fees
All exchanges charge fees for their services. But the number of fees and the amount charged varies greatly. This is why, after you have selected the safest and the most comfortable platform, check whether it is also the cheapest crypto exchange in Turkey.
- Here are the fees that are typically charged by an exchange:
- A fee to buy and sell Bitcoin or another cryptocurrency
- Fees for bank transfers when you deposit fiat
- Withdrawal fees
- Investment fees
Along with the fees, tax implications also apply. Do not forget that you have to pay a tax on income earned from trading.
Reputation
Reputation is another important factor that shall not be ignored. Being the best crypto exchange means not having good reviews online. A platform may have issues and misunderstandings with users, but it is important to check how this platform solves the issues.
This is why, before picking an exchange to buy Bitcoin in Turkey, check the reviews of users. Make sure all claims and complaints are addressed properly.
Supported digital assets
Before you connect your crypto wallet to a platform or open an account there, make sure you can find there all the coins you have in your trading portfolio. If the assets you work with are not supported, there is not much to do there, even if, otherwise, the selected crypto exchange in Turkey seems perfect.
For a platform operating in Turkey, it is a must to support the Turkish Lira and allow its users to fund their accounts with a bank transfer. Considering a crypto legal status in the country, a platform that operates legally shall have no issues with providing these options to its users.
Customer support in Turkish
It is important to speak with customer support in a language that you know. A platform that operates in the country shall provide customer support services in Turkish, along with English or whatever other languages the team may prefer.
How to Start with Cryptocurrency Trading in Turkey
To start using a crypto exchange in Turkey for trading, you need to pick a platform and create an account there. You will be requested to verify your account before you can sell or buy Bitcoin and other cryptocurrencies. To do so, you will need to provide your valid identification documents and proof of residence.
After all the verification procedures are completed, fund your trading account. You can use a bank transfer, Google Pay, or any other comfortable payment method. To fund yan our account with crypto, you can use any crypto wallet.
After that, you can buy and sell crypto, place orders, stake coins if the platform provides this functionality, and benefit from other investment and trading opportunities.
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Disclaimer. This material should not be construed as a basis for making investment decisions or as a recommendation to participate in investment transactions. Trading digital assets may involve significant risks and can result in the loss of invested capital. Therefore, you must ensure that you fully understand the risk involved, consider your level of experience, investment objectives, and seek independent financial advice if necessary.
