6 Best Crypto Exchanges In Turkey

January 12, 2023
Blog

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.

AvaTrade is the favourite among knowledgeable Turkish crypto investors, both for its enterprise-grade security and low trading fees. If you’re looking for a safe, cost-effective way to buy and sell crypto in Turkey, I can’t recommend AvaTrade highly enough.

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To read this post in Turkish, click here.

What Is The Best Crypto Exchange In Turkey?

1. AvaTrade – Best Overall

#1 Best Overall

Trading Fees: 0%
Security: Best in class
Customer Support: Excellent

Best overall + lowest fees.

★★★★★

Rated 4.9/5

AvaTrade allows users to trade crypto alongside stocks, commodities, forex, market indices, ETFs and more—all without any trading fees. It supports dozens of cryptocurrencies, and users can trade with up to 20x leverage on crypto (up to 200x leverage on other assets).

AvaTrade charges a tight spread ranging from 0.1% – 0.3% (depending on the asset), making the overall cost of using the platform (0% trading commissions + 0.1% – 0.3% spreads) very low. It has a fully functional desktop platform, a well-rated mobile app (4.3/5 on Android and iOS), and an excellent demo account where you can practice trading with real assets in real time.

AvaTrade is licensed by the Australian Securities and Investments Commission (ASIC) and the Central Bank of Ireland in Europe, which means it’s a safe, secure platform. Every user has direct contact with their account manager via phone, email and live chat, one of the reasons AvaTrade’s customer support team receives such positive reviews.

Deposits and withdrawals are always free with AvaTrade, and you’ll never pay trading commissions regardless of whether you place spot orders or limit orders. Capital is ISO 27001 certified for meeting robust information security standards, making it an extremely safe platform to trade with.

I’ve personally used AvaTrade for more than 4 years, and based on my experiences and those of millions of other users, I can’t recommend it highly enough. 

Features

  • Zero trading commissions
  • Tight spreads (0.1% – 0.3%) 
  • Supports dozens of cryptocurrencies
  • Allows up to 200x leverage (20x leverage on crypto)
  • Fully functional demo account for paper trading
  • Free deposits and withdrawals via debit/credit cards, bank transfer, POLi, PayPal, Apple Pay, etc.
  • Dedicated customer support team you can reach at any time
  • Excellent desktop trading platform
  • Well-rated mobile app (4.3/5 on both Apple and Google)
  • Licensed by the Australian Securities and Investments Commission (ASIC)
  • ISO 27001 certified for meeting extremely high information security standards

Cost

  • Trading fees: 0%
  • Spreads: 0.1% – 0.3%
  • Deposits & Withdrawals: Free

Best For

Investors looking for the best overall crypto trading experience with no trading commissions.

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2. 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.

3. Crypto.com

Best For Altcoins

Trading fees: 0.4%
Security: 95% cold storage
Signup bonus: $10

Trade with 10x leverage.

★★★★

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 AvaTrade or Capital 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.

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Extremely secure, 10x leverage

4. Kraken

Kraken is a cryptocurrency exchange and bank originally founded in 2011. It's located in the United States (specifically San Francisco), and it enables you to trade fiat currencies like TRY or USD for cryptocurrencies and vice-versa. It also allows you to trade one type of cryptocurrency for another.

The exchange provides price data for digital assets to the Bloomberg Terminal, and as of December 2021, Kraken is accessible in 48 US states and 176 different countries, making it one of the more global exchanges around today.

Features

  • Very wide range of supported crypto (90+)
  • Simple and intuitive user interface
  • Kraken Crypto Watch feature that allows you to keep track of the crypto market
  • A plethora of information and educational resources on crypto for its users
  • 24/7 customer support through a variety of methods

Cost

  • Trading fees: Between 0% and 0.26% per trade
  • Crypto credit card purchases: 3.75% + €0.25
  • ACH crypto purchases: 1.5%

Best For

Cryptocurrency investors looking for an exchange with a wide array of supported altcoins and stablecoins.

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:

  1. Open an account with the crypto exchange you choose. I personally use and recommend AvaTrade due to its low trading fees and reliable customer support, but you can choose whatever exchange you like most.
  2. 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:
    1. Turkish passport
    2. Turkish driver's license
    3. Turkish identity card
  3. Deposit money into your account and start trading.
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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.

AvaTrade is the favourite among knowledgeable Turkish crypto investors, both for its enterprise-grade security and low trading fees. If you’re looking for a safe, cost-effective way to buy and sell crypto in Turkey, I can’t recommend AvaTrade highly enough.

OPEN FREE ACCOUNT
Sign up by March 22, 2023.

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 AvaTrade 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 AvaTrade, which offers bank-level protection and incredibly low fees. AvaTrade 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 AvaTrade, an exchange that offers services in Turkey and around the world. AvaTrade 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 the Ledger Nano S, a hardware 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 AvaTrade, 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 the wallet inside AvaTrade, 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 AvaTrade. Unlike other crypto apps like Binance and Coinbase, AvaTrade 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 AvaTrade and Binance by sending a bank transfer from your Turkish bank account to your AvaTrade or Binance account. You can also deposit funds by making a credit card payment from your Turkish card to your AvaTrade 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 AvaTrade. Every AvaTrade user receives a dedicated account manager for their customer support needs, and because AvaTrade is an internationally-regulated 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 AvaTrade, 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, AvaTrade, a well-respected exchange 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.

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