Looking to buy, trade and invest in cryptocurrencies in Turkey? Choosing the right exchange is crucial. In this comprehensive guide, we’ll review the five best cryptocurrency exchanges for Turkish traders. Learn about the top platforms and compare their fees, features, security, customer support options, and more.
Summary of 5 Best Crypto Exchanges in Turkey
In Turkey, experts advise opting for exchanges regulated by the Turkish authorities for purchasing and trading Bitcoin and other cryptocurrencies. By utilizing bank transfers or credit cards to deposit Turkish lira, individuals can legally buy, stake, and trade digital assets.
For novices embarking on their crypto ventures in Turkey, we’ve assessed the top 5 trading platforms prevalent in the region:
- Binance – Best Overall Crypto Exchange in Turkey – https://www.binance.com/
- Bybit – Best for Derivatives Trading – https://www.bybit.com/
- Kraken – Ideal for Beginners [Easiest to Use] – https://www.kraken.com/
- KuCoin – Largest Selection of Altcoins – https://www.kucoin.com/
- Coinbase – Best for Secure & User-Friendly Trading – https://www.coinbase.com/
Comparison of Top 5 Crypto Exchanges in Turkey
| Exchange | Currencies | Trading Fees | Deposit/Withdraw Methods | Security Rating |
| Binance | 500+ | 0.1% maker/taker | Bank Transfer, Credit Card, P2P | High |
| Bybit | 1100+ | 0.1% maker/taker; lower with increased volume | Bank Transfer, Debit/Credit Card | High |
| Kraken | 200+ | 0.16-0.26% maker/taker | Bank Transfer, Debit/Card, Apple/Google Pay | High |
| KuCoin | 700+ | 0.1% maker/taker; 20% discount with KCS | Bank Transfer | Medium |
| Coinbase | 240+ | ~0.5% variable | Credit/Debit card purchases, bank transfer | Very High |
1. Binance Overview
Rated as the premier crypto exchange in Turkey, Binance is known for its extensive coin selection, competitive fees, and top-notch security. It allows direct deposits and withdrawals in Turkish lira and supports lira trading pairs.
Best features
- Supports 500+ cryptocurrencies and 70+ fiat currencies
- Maker/taker trading fees of 0.1%, with 25% discount if paid in BNB
- No fees for TRY deposits and withdrawals via Binance Transfer
- Spot, margin, futures, and P2P trading
- Advanced features like trading bots and APIs
- Emphasis on security with 2FA and full regulatory compliance
Why we like it: Binance is a well-rounded exchange offering extensive coin selection, low fees, lira support, and advanced trading features. Its global reputation and robust security make it a top choice in Turkey.
Key Metrics
- 120+ million registered users worldwide
- $7.7 trillion crypto exchange volume in 2021
- Processes 1.4 million transactions per second
- Supports 500+ cryptocurrencies and 1200+ trading pairs
- Segregated user funds with multi-sig cold storage
- SAFU insurance fund protecting user assets
- 0.1% average trading fees
- 4.9/5 user satisfaction rating on Trustpilot
2. Bybit Overview
Bybit has become a go-to platform for Turkish traders seeking a feature-rich derivatives exchange. It offers perpetual contracts, futures, and options trading with up to 100x leverage.
Best features
- 130+ cryptocurrencies and 1100+ trading pairs
- Competitive trading fees starting at 0.01% for makers
- Zero fees for TRY deposits and withdrawals via Volet
- Copy trading allows mirroring expert traders
- Subaccounts enable customized fund allocation
- 24/7 customer support available in Turkish
Why we like it: Bybit provides a powerful platform for experienced traders to access leveraged derivatives instruments. The copy trading and demo trading modes are great for learning.
Key Metrics
- 10+ million registered users worldwide
- $10+ billion in 24h derivatives trading volume
- 99.99% system functionality and reliability
- 130+ coins and 400+ spot/derivatives markets
- 100x leverage for BTC, ETH and 130+ coins
- 0.01% spot maker fees; 0.06% taker fees
- Up to $100,000 annual staking rewards
3. Kraken Overview
As one of the oldest crypto exchanges operating since 2011, Kraken has built a strong reputation for security and compliance. Its user-friendly interface makes it ideal for beginners.
Best features
- Supports 200+ cryptocurrencies and 600+ trading pairs
- Accepts EUR deposits via Visa/Mastercard/Apple/Google Pay
- Spot and margin trading up to 5x leverage
- Futures trading up to 50x leverage
- Intuitive interface with Kraken Pro advanced option
- NFT marketplace with built-in rarity tools
Why we like it: Kraken is a reliable exchange known for its strong security track record. The simple interface is great for new traders while Kraken Pro serves advanced users.
Key Metrics
- 7+ million clients worldwide
- $330+ billion quarterly trading volume
- 0.16%-0.26% maker/taker fee
- 200+ cryptocurrencies and 500+ markets
- 95% of deposits processed under 1 minute
- 99.99%+ uptime track record
4. KuCoin Overview
KuCoin hosts a vast selection of over 700 cryptocurrencies, including many emerging altcoins not found on other major exchanges. Its affordable fees and helpful trading features also attract many Turkish users.
Best features
- 700+ cryptocurrencies and 1000+ trading pairs
- TRY deposits and trading pairs on P2P market
- Buy crypto with TRY via Fast Trade using multiple payment options
- 0.1% maker/taker spot trading fees
- 20% trading fee discount if fees paid in KCS token
- Futures, margin, P2P trading, and staking
Why we like it: KuCoin is great for trading a wide variety of altcoins with competitive fees. The P2P marketplace with TRY support adds flexibility for Turkish traders.
Key Metrics
- 20+ million registered users
- $1+ trillion cumulative trading volume
- 0.1% maker/taker spot trading fees
- 0.02-0.06% maker/taker futures fees
- 700+ cryptocurrencies and 1100+ markets
- Processes 5 million transactions per second
- $1 billion KuCoin Safeguard fund
5. Coinbase Overview
Coinbase is a popular choice for its emphasis on ease-of-use and security. The clean interface and educational resources make it very beginner-friendly.
Best features
- Supports 240+ cryptocurrencies and 60+ fiat currencies
- Supports various TRY trading pairs on the converter
- Intuitive interface with Coinbase Pro advanced trading
- Earn crypto rewards by learning, staking, or spending
- Industry-leading security with 98% offline storage
- Crypto loans and Coinbase card to spend crypto
Why we like it: Coinbase provides a very user-friendly way to buy and trade crypto with peace of mind from its top-notch security. The learning rewards are a great way for beginners to earn crypto.
Key Metrics
- 110+ million verified users worldwide
- $327 billion quarterly volume traded
- Custody for 50%+ of top 100 largest hedge funds
- $255 billion assets on platform
- 0.5% trading fees; higher for card purchases
- $2 million+ insurance against hacking losses
- Publicly listed on Nasdaq stock exchange
Also read:
How to Purchase Cryptocurrencies in Turkey
For beginners aiming to invest in digital currencies within Turkey, adhere to this detailed, step-by-step guide for lawful and secure transactions:
- Select a reliable exchange: Choose a platform that is approved by Turkey’s regulatory authorities, as highlighted in our guide. Binance is our top overall pick.
- Registration: Use your email for registration, establish a strong password, and complete any necessary KYC (Know Your Customer) procedures.
- Deposit Turkish Lira: Fund your account using domestic bank transfers, credit/debit cards, or digital wallets.
- Buy Crypto: Select the desired cryptocurrency and quantity, then confirm the purchase.
- Secure Your Assets: Transfer your digital currencies to a secure crypto wallet to enhance security.
Legality and Regulation of Crypto Investing in Turkey
In recent years, Turkey has witnessed a surge in cryptocurrency adoption, with many citizens turning to digital assets as a hedge against the devaluation of the Turkish lira. However, the regulatory landscape remains in flux as authorities grapple with how to oversee this nascent industry.
Is Crypto legal in Turkey?
Cryptocurrencies are legal in Turkey for trading and investment purposes. The government prohibits using crypto directly for payments but allows crypto exchanges to operate. Authorities are working on developing a more comprehensive regulatory framework.
How is Crypto taxed in Turkey?
Crypto taxation in Turkey is currently a gray area without clear guidelines. Gains from crypto trading may be subject to income tax, but there are no specific rules. For businesses, the tax treatment depends on whether crypto is considered a security or commodity. Lawmakers are expected to provide more clarity in the future.
Conclusion
For crypto enthusiasts in Turkey seeking a reliable and feature-rich trading platform, the five best crypto exchanges highlighted in this guide are excellent choices. When selecting an exchange, prioritize factors like security, supported cryptocurrencies, Turkish lira integration, competitive fees, and ease of use.
By conducting thorough research and following best practices for secure trading, investors can confidently navigate the exciting world of cryptocurrencies in Turkey. With the right exchange partner, buying and trading Bitcoin and altcoins in Turkey is now more accessible than ever.
FAQs
What is the best crypto exchange for beginners in Turkey?
Kraken and Coinbase are two of the most beginner-friendly exchanges in Turkey due to their intuitive interfaces and educational resources.
Which Turkish crypto exchange has the lowest fees?
Binance and KuCoin both charge very low 0.1% trading fees. Fees can be further reduced on Binance by paying with BNB and on KuCoin by paying with KCS.
Can I deposit Turkish lira on crypto exchanges?
Yes, exchanges like Binance, Bybit, and KuCoin support Turkish lira deposits and withdrawals. Some like Bybit charge zero fees for lira transactions.
How do I keep my crypto holdings secure after buying on an exchange?
After purchasing crypto, it’s highly recommended to transfer your coins to a secure software or hardware wallet that you control the private keys to. Look for exchanges that allow fee-free withdrawals.
Is it safe to keep Turkish lira on crypto exchanges?
It’s generally advised to only keep funds you intend to actively trade on exchanges. For long-term storage, keep your lira in a government-insured Turkish bank account.
