The Turkish government has been planning to venture into the world of digital currency ever since 2019. This year, in the second half, Turkey is expected to execute the pilot stage of its crypto-adoption with its CBDC currency - Central Bank Digital Currency.
However, the people of Turkey are found trading cryptocurrencies with the help of other exchanges. Let’s analyze the top cryptocurrency exchanges in Turkey in terms of wide user base and volume.
Bitpanda is one of the leading cryptocurrency exchanges in Turkey where there is a high volume of users. The payment limits are high and the fees incurred are very low, hence the wide userbase. Also, Bitpanda supports a wide range of payment methods to make the deposit and withdrawal process easy for users across the world. Users are offered the option to buy cryptocurrencies with a credit card, debit card, giropay, and online bank transfers. Users can also invest in other precious metals like Gold with Bitpanda.
Coinmama is one of the world’s famous and largest cryptocurrency exchanges that allows buying and selling bitcoin and other cryptocurrencies using credit cards or bank transfers. Ever since its inception in 2013, it has served the needs of more than 2 million customers across 188 countries. The organization has 40 full-time employees. Headquartered in Slovakia, the crypto exchange collects a trading fee of 5.9% and 5% for trades facilitated via credit card. The interface is extremely simple and it should be apt for beginners.
Paybis is a popular cryptocurrency exchange in Turkey. They serve around 180 countries and 48 states of the USA. People trust Paybis because they are registered with FinCEN. Another noteworthy mention is their ultra-fast payout models and the five-minute verification process. Paybis serves its customers by providing quality 24/7 live support with extremely high limits. Payments can be made from almost any part of the world.
Kraken joins the elite club of Coinbase and Binance with the support of its millions of active users. It has become one of the three top cryptocurrency exchanges. Kraken also facilitates fiat-to-crypto currency trading in its platform. In 2019, Kraken made the news with its announcement that it had raised $100 million in an offering to its huge customers at a massive $4 billion valuation. The trading fee ranges between 0% to 0.36% for takers and 0% to 0.08% for makers.
CEX.io ventured into the crypto space during 2013. Since then, it widened its customer base to more than three million. The London-based crypto exchange platform serves 99% of the countries including 47 states in the USA. The multi-payment option and 24/7 customer support along with system stability ensure the security of users’ assets. The trading fee ranges between 0.25% to 0.1% for takers and 0.16% to 0.0% for makers.
OKCoin is one of the leading China-based exchanges. Headquartered in Beijing, OkCoin began its operation in 2013 and accounts for most of the Bitcoin transactions of the world. Though OkCoin caters to the needs of users from China, it also accepts trades from traders all over the world. The trading fee ranges between 0.1% to 0.01% for takers and 0.2% to 0.03% for makers. OKCoin has upgraded its security measures by integrating its platform with bank-level SSL security encryption. Also, cold storage, GSLB, and distributed servers, and real-time account monitoring of deposits and withdrawals are some of the key features.
Localbitcoins is a globally acclaimed decentralized exchange facilitating peer-to-peer transactions which allows the platform users to post advertisements on buying (or) selling orders. This helps the traders to communicate with co-members and finalize the deal before executing the trade. Traders can trade online (or) even meet in-person. Multiple payment options are available in LocalBitcoins which makes the platform easily accessible by the global trading community. Some of its security protocols are two-factor authentication (2FA), Login Guard, support staff, and a feedback-driven reputation system.
Bitstamp is a trustable cryptocurrency exchange that has become the first choice of many global traders. Bitstamp provides flexible trading options to both intermediate and proficient traders. The exchange provides a user-friendly, intricate, and advanced trading platform with sophisticated features. The Luxembourg-based exchange facilitates trading between fiat currency and cryptocurrency. 1% of the global crypto trading comes from Bitstamp. Hence, it is one of the top ten cryptocurrency exchanges.
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