With all the regulations around cryptocurrency in Turkey, it's not easy to find a Turkish crypto exchange where you can buy and sell Bitcoin and other cryptocurrencies both legally and safely. We all know about the recent Thodex scam, which has Turkish investors rightfully fearful for their money.
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What Is The Best Crypto Exchange In Turkey?
1. Kraken — Best Overall
Best Overall
|
Fees: 0.16% |
★★★★★ Rated 4.9/5 |
Based in the United States, Kraken is a highly transparent exchange with a longstanding history of reliability. As one of the largest crypto exchanges in the world, Kraken outperforms smaller exchanges for a number of reasons.
For starters, Kraken's fees are far lower than most other exchanges, with most users paying 0.16% per transaction (fees decrease down to 0% if you trade high volumes). Kraken's spreads are also absurdly low, typically around $0.10 per Bitcoin, which is 0.0003%. Compare that with other exchanges—which routinely charge up to 2% in trading commissions plus an additional 2% or more in spreads—and it's easy to see why Kraken is such a popular exchange.
Kraken also has better customer support than most other exchanges, and is one of the only exchanges out there that still offers telephone support (available in English, French and Spanish). It supports 100+ cryptocurrencies and has a world-class trading platform and mobile app that's powerful yet easy to use.
If that wasn't enough, Kraken's trading platform is professional and robust, offering features like NFT trading, staking and support for a wide range of fiat currencies including USD, EUR, and more.
Overall, Kraken is an excellent fit for many crypto investors because it has lower fees, better support and a better trading platform overall. If you're looking to start trading crypto, we strongly recommend Kraken.
Features
- Extremely low trading commissions (0.16%)
- Extremely low spreads (0.0003%)
- Trade 100+ cryptocurrencies
- Stake 100+ cryptocurrencies
- Simple, intuitive user interface
- Kraken Crypto Watch allows you to keep track of the crypto market
- NFT trading inside the Kraken app
- 24/7 customer support via phone, email and live chat
- Plenty of free educational resources available to users
- 95% cold storage policy
Cost
- Trading Fees: 0.16% (spot trades cost 0.26%)
- Spreads: 0.0003%
- Fiat Deposit Fee: 0%
- Fiat Withdrawal Fee: $0 – $5 USD
Best For
Cryptocurrency investors looking to trade with extremely low fees.
2. ZenGo
Good All-Around
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Account Opening: Free |
★★★★ Rated 4.4/5 |
ZenGo is free to use, which means you get the industry's best security for no cost. Sending and receiving crypto to and from ZenGo is also free, and their 24/7 support team answers most queries in 5 minutes or less.
ZenGo’s proprietary keyless technology means that your crypto is protected by two independently created mathematical secret shares: one that lives on your phone, and another that lives in the cloud. This unique setup means that your coins are always 100% secure, and that you’ll never have any trouble accessing them, even if your phone is lost, stolen, or broken, or if ZenGo (the company) were to go bankrupt, commit fraud, or cease operations for any other reason.
ZenGo supports more than 75 crypto assets, and it takes less than 30 seconds to open your free account.
Overall, ZenGo represents the next generation of crypto: with top-level security inside an easy to use app, ZenGo offers the best of both worlds.
Features
- Supports 75+ crypto assets
- 24/7 customer support
- Extremely well-rated mobile app (4.7/5 on the App Store)
- Face scanning technology for even greater security
- Up to 8% APY in crypto savings
- Cancel or speed up your sent transactions with one tap
- Choose from the 3 network fees modes: economy, regular, and fast (applicable for BTC, ETH, and ERC20)
Cost
- Account Opening: Free
Best For
Crypto investors looking for the most secure trading experience + low fees.
3. Binance
Binance is an international cryptocurrency exchange that currently serves as the world's largest crypto trading platform by volume of daily trading. It began operations in 2017 and is now headquartered in the Cayman Islands.
Binance was founded in Hong Kong but later moved its headquarters overseas due to increased government intervention in cryptocurrencies. It has several notable characteristics, including powerful charting tools and access to the Binance Earn feature, as well as a Binance Visa Card.
Features
- Supports 300+ cryptocurrencies
- Supports 50+ fiat currencies
- Binance Earn feature
- Binance Visa Card
- Advanced charting tools
- Earn lower fees by using the exchange's native currency (Binance Coin)
Cost
- Crypto deposit fees: Free
- Fiat deposit fees: From 0% to 3.5%
- Crypto withdrawal fees: From 0% to 2,5%
- Taker fees: From 0.04 to 0.1%
- Maker fees: From 0.02 to 0.1%
- Futures trading maker fees: 0.02%
- Futures trading taker fees: 0.04%
- Instant buy/sell trade fees: 0.5%
- Debit/credit card purchases: 4.5%
Best For
Investors interested in investing in relatively unknown altcoins.
4. Crypto.com
Best For Altcoins
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Trading fees: 0.4% |
★★★★ Rated 4.3/5 |
Crypto.com is a major global player as far as exchanges go. It supports 100+ cryptocurrencies, making it an ideal fit for anyone looking to invest in undiscovered altcoins before the masses.
Crypto.com also offers some unique features that few Turkish cryptocurrency exchanges can match. Users can trade options and futures contracts, earn interest by staking their coins, and make trades with up to 10x leverage when they feel particularly confident in a coin.
Crypto.com has invested an enormous amount of money into its platform security, which makes trading with them extremely safe. The exchange is also lightning quick (prices update dozens of times per second), which gives day traders an upper hand over the rest of the market.
I've personally used Crypto.com for more than a year now and have had nothing but positive experiences with them. If you don’t want to work with Capital or Kraken for some reason, Crypto.com is a good alternative.
Features
- Supports 100+ cryptocurrencies
- Allows up to 10x leverage
- Trade crypto derivatives (futures and options contracts)
- Earn daily interest by staking your coins
- Purchase newly-listed coins at up to 50% off
- Reasonable trading fees (0.4% per trade)
- Free deposits from all cryptocurrencies
Cost
- Trading Fees: 0.4%
Best For
Investors looking to buy altcoins and other new crypto assets before they go mainstream.
5. Bitpanda
BitPanda is an Austrian cryptocurrency exchange that was established in 2014 and has since become one of the most popular cryptocurrency exchanges in Europe for buying and selling digital currencies.
The exchange is a popular choice among many individuals since it features a user-friendly and easy-to-use design for purchasing, selling, and trading cryptocurrencies. The exchange also has a variety of payment choices that may be used by novice cryptocurrency users to acquire Bitcoin (BTC), Ethereum (ETH), Bitcoin Cash (BCH), and many other crypto coins.
Features
- Easy-to-use and intuitive platform
- Wide array of crypto assets supported (+25)
- Wide array of payment and withdrawal methods
- Fast customer support available 24/7
Cost
- Trading fees: 5% per trade
Best For
Investors new to the world of cryptocurrency trading looking for an easy-to-understand crypto exchange.
6. CEX.io
CEX.io is a cryptocurrency exchange based in the United Kingdom that was founded in 2013 and has worldwide availability. Traders and investors may use it to buy, sell, borrow, and earn various cryptocurrencies.
There are a lot of tradable assets and sophisticated trading tools available, which will appeal to seasoned cryptocurrency traders. Beginners, on the other hand, may get lost in the plethora of advanced features offered by the platform.
Features
- Plenty of cryptocurrencies supported (100+)
- Allows you to do marging trading
- Allows you to stake cryptocurrencies and earn rewards for doing so
- Institutional services for businesses and advanced traders
- 24/7 customer support
- Mobile access
Cost
- Maker fee: Between 0.10% and 0.25%
- Taker fee: Between 0% and 0.16%
- Deposit fees: 2.99%
Best For
Cryptocurrency investors looking for an exchange with a wide array of supported altcoins and stablecoins.
What To Look For In The Best Crypto Exchanges In Turkey
There are many important factors to consider when you're looking for the best crypto exchange to use in Turkey. Some of these factors include:
Supported coins: There are tens of thousands of cryptocurrencies in existence, but cryptocurrency exchanges will only support a fraction of these coins. With that in mind, the more supported crypto coins an exchange offers, the better.
User interface: Some cryptocurrency exchanges have simpler interfaces, and others are more advanced. If you're a beginner, it's best to go for an exchange with a simple interface so that you don't get overwhelmed by all the extra features.
Fees: Some exchanges have higher fees than others, and this will affect your investment returns negatively (especially if you're going to be trading a lot of money on an exchange).
Regulation: It's important to only use exchanges that are regulated by a financial authority. This is because it ensures that the exchange is legitimate and has measures in place to protect your funds.
Deposit & withdrawal options: Consider every payment option that the exchange provides and make sure they are appropriate to your needs. Keep in mind that there might be fees associated with all payment methods, and those can also reduce your earnings.
Account security: Ideally, you should be able to move your coins out of the exchange and into a personal crypto wallet for the greatest safety. Verify that the exchange uses cold storage to safeguard users' assets and learn what their privacy, account security, and insurance policies are.
Advanced trading tools: Conversely, if you're a more experienced cryptocurrency trader, consider how many advanced features you have at your disposal. Charting tools, different order types, a live order book, and other features may be necessary for seasoned crypto traders.
Customer support: Last but not least, make sure to check out the customer support options that are available at an exchange. If you have questions or need help with something, can they get back to you quickly? Is there a live chat feature where you can ask your question immediately and receive answers in real-time?
How To Buy Bitcoin In Turkey
Choosing the exchange you want to use is the hard part of this process, and the first half of this post should have helped you with that. Now that you're ready to buy Bitcoin in Turkey, here’s how to do it:
- Open an account with the crypto exchange you choose. I personally use and recommend Kraken due to its low trading fees and reliable customer support, but you can choose whatever exchange you like most.
- Verify your identity using one piece of government-issued ID plus a selfie with that piece of ID. The specific documents you’ll need to provide will vary by exchange, but if you have any of these documents, you should be fine:
- Turkish passport
- Turkish driver's license
- Turkish identity card
- Deposit money into your account and start trading.
In Summary
With all the regulations around cryptocurrency in Turkey, it's not easy to find a Bitcoin exchange in Turkey where you can buy and sell cryptocurrencies both legally and safely. We all know about the recent Thodex scam, which has Turkish investors rightfully fearful for their money.
Best Crypto Exchanges In Turkey FAQs
Can I buy cryptocurrency in Turkey?
Yes. You can purchase cryptocurrency in Turkey by working with a reputable crypto exchange. I made my specific recommendations of the best exchanges earlier in this post, with Kraken at the top of the list because it has low trading fees and is one of the most robust trading platforms in the industry.
Is crypto legal in Turkey?
Yes, trading crypto is legal in Turkey, though using crypto to pay for goods and services in Turkey is illegal. This is a unique regulatory stance taken by the Turkish government, and many experts believe that all forms of crypto transactions will become legal in Turkey again soon.
What is the best Bitcoin trading platform in Turkey?
The best exchange to buy Bitcoin in Turkey is Kraken, which offers bank-level protection and incredibly low fees. Kraken supports dozens of cryptocurrencies, processes deposits and withdrawals quickly, and verifies most accounts immediately.
What is the best crypto exchange in Istanbul?
The best cryptocurrency exchange available in Istanbul is Kraken, an exchange that offers services in Turkey and around the world. Kraken is a highly secure platform that's licensed and regulated all over the world, making it a safe, secure exchange for buying Bitcoin in Istanbul.
Which Bitcoin wallet is used in Turkey?
Many Bitcoin wallets are used in Turkey, from Ledger to Trezor and many more. The wallet I personally use and recommend is ZenGo, a software wallet that combines the best of both worlds: top-level security packaged inside an extremely easy to use app.
What is the best Bitcoin wallet in Turkey?
The best Bitcoin & crypto wallet in Turkey is ZenGo, thanks to its bank-level security, free signup and usage, and easy-to-use mobile app. It can hold 100+ different crypto assets at a given time, and we strongly recommend it as a safe, secure crypto wallet ideal for Turkish crypto investors.
How can I sell Bitcoin in Turkey?
There are several different ways to sell Bitcoin in Turkey, though the easiest is to sell it directly from the crypto wallet or exchange that you’re holding it on. We recommend Kraken, both because it’s a highly secure, easy to use exchange and also because you can buy and sell Bitcoin directly inside it, maximizing your security and ensuring you don’t get scammed or lose any of your funds.
Does Turkey use Bitcoin?
Yes, Turkey has started adopting Bitcoin in recent years, though it's certainly not mainstream here yet. That's likely due to the fact that paying for goods and services using cryptocurrency is currently illegal in Turkey, giving it a limited number of use cases within Turkish borders.
With that said, buying and selling crypto on an exchange is completely legal in Turkey, and there are even a few Bitcoin ATMs across the country (mostly in Istanbul). You can find a full list of Bitcoin ATMs in Turkey here.
What's the best app to buy Bitcoin in turkey?
The best app for buying Bitcoin in Turkey is Kraken. Unlike other crypto apps like Binance and Coinbase, Kraken charges extremely low trading commissions, making it both the cheapest and the best crypto exchange platform available in Turkey today.
How do I buy Bitcoin with Turkish lira?
You can buy Bitcoin and dozens of other cryptocurrencies with Turkish lira using exchanges like Kraken by sending a bank transfer from your Turkish bank account to your Kraken account. You can also deposit funds by making a credit card payment from your Turkish card to your Kraken account. None of these deposit methods charge any fees.
The bonus of buying crypto with your Turkish lira is that it acts as a store of value. As the lira's rapid inflation continues, investing in crypto can be an effective hedge that protects you against additional inflation in the future.
Where can Turks buy Bitcoin?
Turks can buy Bitcoin from any of the crypto exchanges listed above, though I personally use and recommend Kraken. Since Kraken is a US-based exchange, it's subject to far stricter regulations than other Turkish exchanges, ensuring both you and your crypto are always safe and secure.
Is Coinbase available in Turkey?
Yes, Coinbase works in Turkey, but we don’t recommend it due its high deposit fees (4% on debit & credit cards) and currency conversion fees (2%), which significantly reduce your trading profits. Instead, we recommend you use one of our top-rated exchanges, which are listed at the beginning of this post
Is Binance available in Turkey?
Yes, Binance works in Turkey, but we don’t recommend using Binance because of its frequent regulatory issues and history of closing user accounts without warning. Instead, we recommend trading with Kraken, which has a flawless regulatory history and award-winning customer support in case you ever need it.
Is Luno available in Turkey?
Yes, Luno works in Turkey, but we don't recommend it because it only supports a very limited number of cryptocurrencies, and it runs a basic trading platform compared to other exchanges. If you're looking for a crypto exchange that offers 20+ coins and advanced trading on its web platform and mobile app, I suggest our top-ranked exchange, Kraken, a well-respected platform that puts security first.
Does Turkey tax crypto?
Yes, Turkey does tax cryptocurrency, though that crypto can be classified as a “security”, a “commodity”, or “money” depending on how it's used, all of which have different tax implications. In other words, Bitcoin is taxable in Turkey, but the exact tax regulations it's subject to change based on the specifics of your transactions.
This is a more complex question than we can answer in this post, so if you want to learn more about cryptocurrency taxation in Turkey, I suggest reading more here and here.
