In recent years, the cryptocurrency industry in Turkey has seen remarkable growth, signaling its vast potential. The expansion of the crypto market in the country is indicative of the increasing interest and active participation of individuals and businesses in the crypto realm. Consequently, Turkey has positioned itself as a pivotal player in the global cryptocurrency scene, boasting a robust community of enthusiasts, traders, and investors.
Chainalysis data reveals that Turkish cryptocurrency transactions surged by a staggering 1,500% from 2020 to 2021. [1] According to a report by Triple-a, it's estimated that as of 2022, more than 4.6 million individuals, which equates to 5.5% of the entire Turkish population, possess cryptocurrencies. [2]
In May 2022, BtcTurk, the pioneering cryptocurrency platform of Turkey, registered a daily trading volume nearing $424.3 million, as documented by CoinGecko. In the same vein, Paribu, another indigenous Turkish platform, reported a trading volume of $203.5 million. It's worth noting that global juggernauts like Binance and Coinbase have also established their presence in the Turkish market. [3]
This blog post is dedicated to delving into the most renowned Turkish exchanges currently active in the Turkish crypto market.
Binance TR
Binance, among the world's most prominent cryptocurrency exchanges by trading volume, made its foray into the Turkish market in 2020 through its subsidiary, Binance TR. This market entry allowed Turkish crypto enthusiasts to seamlessly buy and sell crypto using the Turkish Lira. Binance TR provides spot market trading, facilitates deposits and withdrawals, and enables direct crypto purchases. Furthermore, the Binance TR exchange adheres to Know Your Customer (KYC) regulations and is accessible on both desktop and mobile platforms.
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The total number of coins/tokens: 100
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The total number of pairs: 133
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Volume (24h): $154,135,498.26
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Weekly Website Visits: 374,329
BtcTurk
Founded in 2013 by Kerem Tibuk, BtcTurk stands as Turkey's pioneer cryptocurrency trading platform. It offers comprehensive financial services related to cryptocurrencies.
BtcTurk Pro boasts a user base of over 5 million and has integrated with seven major Turkish banks, facilitating smooth deposits and withdrawals in Turkish Lira. BtcTurk permits trading in BTC, Turkish Lira, and USDT. Subscribers of the BtcTurk Pro service can transact with Turkish clientele, enjoy lowered transaction fees, and withdraw Bitcoin at no cost. The BtcTurk Pro mobile application allows for easy sign-up and login.
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The total number of coins/tokens: 85
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The total number of pairs: 173
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Volume (24h): $108,714,932.27
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Weekly Website Visits: 150,453
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Paribu
Paribu, a cryptocurrency exchange in Turkey, was established by Yasin Oral and his team in 2016. Offering 24/7 services, it facilitates quick buying, selling, depositing, and withdrawing, bolstered by a sturdy infrastructure designed for high-volume trading.
Launched in February 2017, Paribu rapidly ascended to a dominant position, becoming the market frontrunner within a mere three months. By December 2017, it had achieved the 16th spot on the CoinMarketCap rankings, boasting a daily trading volume of 5,800 BTC. Broadening its horizons beyond Bitcoin trading, Paribu introduced altcoin transactions in October 2018.
In pursuit of enhancing its user experience, Paribu transitioned to an updated version, aiming to provide its customers with swifter and more streamlined transactional capabilities. By 2019, round-the-clock deposits and withdrawals in Turkish Lira had been instituted. To furnish its clientele with the convenience of monitoring the cryptocurrency market on the go and facilitating quicker transactions, Paribu launched applications for both iOS and Android platforms.
Boasting roughly 6 million users and a daily trading volume exceeding $600 million, Paribu stands out as one of the predominantly cryptocurrency exchanges in the Turkish arena.
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The total number of coins/tokens: 115
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The total number of pairs: 123
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Volume (24h): $92,690,881.31
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Weekly Website Visits: 173,603
Twitter | Website | Youtube | LinkedIn
Felixo
Felixo is offering advanced services for crypto traders and global liquidity providers. Established in 2018 by a team of blockchain developers, Felixo emphasizes security, a user-friendly interface, low commissions, and 24/7 support.
As one of the first professional platforms to integrate next-generation payment systems, Felixo connects investors with cryptocurrencies in a seamless, quick, and secure way. With its experienced and expert team, Felixo alerts its users to market fluctuations using an alarm feature and delivers services through an intuitive system.
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The total number of coins/tokens: 16
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The total number of pairs: 25
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Volume (24h): $84,784,151
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Weekly Website Visits: 15,292
Twitter | Website | LinkedIn | Youtube
Bitci TR
BitciTR was founded in 2018 in Bodrum. BitciTR is one of the first cryptocurrency exchanges in Turkey to take the lead in tokenizing football teams and conducting pre-sales and listings of these new financial instruments, trying to differentiate itself from its competitors in this aspect.
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The total number of coins/tokens: 92
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The total number of pairs: 101
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Volume (24h): $44,901,639
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Weekly Website Visits: 58,132
Twitter | Website | Youtube | Telegram | LinkedIn
Bitexen
Bitexen, established in 2018, is a leading cryptocurrency exchange based in Turkey. Developed by a cadre of seasoned Turkish engineers, this platform is backed by expertise spanning banking, foreign currency, derivative investment platforms, payment systems, and information security.
Beyond just trading functionalities, Bitexen is also an educational hub. It offers a comprehensive set of resources designed to assist both newcomers and veteran traders in making informed decisions in the rapidly changing cryptocurrency market.
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The total number of coins/tokens: 50
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The total number of pairs: 61
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Volume (24h): $32,348,269
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Weekly Website Visits: 16,691
Twitter | Website | Youtube | LinkedIn | Telegram
Bitlo
Bitlo is a cryptocurrency exchange based in Turkey, established in 2017 with the vision of becoming a leading infrastructure provider in the crypto world.
Bitlo started accepting new members in February 2018 and officially launched its cryptocurrency trading operations in June 2018. The platform is designed to grant users a seamless experience, featuring intuitive and user-friendly interfaces that allow buying and selling without any minimum transaction requirements.
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The total number of coins/tokens: 93
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The total number of pairs: 94
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Volume (24h): $961,441
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Weekly Website Visits: 73,499
Twitter | Website | Youtube | LinkedIn
Conclusion
In conclusion, Turkey has emerged as a formidable player in the global cryptocurrency market, with a thriving community of crypto enthusiasts, traders, and investors. As the industry evolves, Turkey stands as a pivotal hub for crypto-related ventures, promoting innovation and accelerating the adoption of digital assets within the nation. In this blog post, we delved into the most prominent local crypto exchanges operating in the Turkish landscape.
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