9 Best Crypto Exchanges In Turkey (Jul 2022)

June 16, 2022
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Best Crypto Exchange Turkey

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.

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

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To read this post in Turkish, click here.

What Is The Best Crypto Exchange In Turkey?

1. CoinSmart – Best Overall

$50 Signup Bonus

Trading fees: 0.2%
Security: 95% cold storage
Signup bonus: $50

$50 offer ending soon.

★★★★★

Rated 4.8/5

CoinSmart’s trading fees are an incredibly low 0.20%. They offer excellent customer support via phone, live chat and email, and user accounts are verified instantly.

As a Canadian exchange, CoinSmart is regulated by several Canadian financial authorities, which keeps your money safe and secure. CoinSmart is also a publicly-traded company on Toronto’s NEO stock exchange, which means they’re subject to third-party financial and security audits at least once per year.

Most exchanges require users to trade every altcoin first with a stablecoin (eg. Chainklink with Bitcoin, and then Bitcoin with Shiba Inu), but CoinSmart allows users to trade altcoins directly (eg. Chainlink with Shiba Inu), minimizing fees and boosting your profits. And you’re buying real crypto with CoinSmart, which means you can move it on and off the exchange whenever you want.

Features

  • Extremely low trading fees (just 0.20% per trade)
  • 24/7 customer support available via phone, live chat or email
  • Instant account verification
  • Supports 16 cryptocurrencies
  • Trade all altcoins directly
  • Immediate deposits and withdrawals
  • User-friendly for both beginners and advanced traders
  • 95% cold storage policy keeps your crypto extra secure

Cost

  • Trading Fees: 0.20%

Signup Bonus

$50 bonus when you sign up using this link

Best For

Investors looking to trade stablecoins or altcoins with the industry’s lowest fees.

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2. Capital – Lowest Fees

Best Overall

Trading fees: 0%
Supports: 100+ coins
Customer support: Excellent

Trusted by millions.

★★★★★

Rated 4.9/5

Capital is so much more than a crypto exchange—and that’s exactly what makes it so great. With Capital, you can trade crypto alongside stocks, commodities, forex, market indices, ETFs and more—all with zero trading fees.

Capital charges a tight spread ranging from 0.1% – 0.3% (depending on the asset), which is extremely small. It has a fully functional desktop platform and well-rated mobile app, plus a demo account where you can practice trading in real time with paper (fake) money.

Capital is licensed by the Australian Securities and Investments Commission (ASIC) and the Financial Conduct Authority (FCA) in the UK, which means it’s a safe, secure exchange regulated by trustworthy authorities. Every user even receives a dedicated account manager you can reach by email or phone at any time, making Capital’s customer support experience second to none. 

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

Features

  • Zero trading fees
  • Tight spreads (0.1% – 0.3%) 
  • Supports 100+ cryptocurrencies
  • Allows up to 500x leverage (200x leverage on crypto)
  • Free deposits and withdrawals from debit/credit cards, bank transfer, etc.
  • Dedicated account manager you can reach at any time
  • Excellent desktop trading platform
  • Well-rated mobile app (4.8/5 on Apple, 4.6/5 on Google)

Cost

  • Trading fees: 0%
  • Spreads: 0.1% – 0.3%

Best For

Investors looking for the best overall crypto experience with extremely low fees.

OPEN FREE ACCOUNT
Zero trading fees

3. Crypto.com

Best For Altcoins

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

Trade with 10x leverage.

★★★★

Rated 4.2/5

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 CoinSmart 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.

OPEN FREE ACCOUNT
Extremely secure, 10x leverage

4. 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.

5. LocalBitcoins

LocalBitcoins

LocalBitcoins takes a different approach than most of the others on this list: rather than trading with the broader market, you actually buy and sell with individual traders. It’s earned a loyal user base for its overall ease of use, and it’s one of the oldest cryptocurrency marketplaces around today.

The main reason I like LocalBitcoins, though, is for its low barrier to entry. Since you’re trading with other people, not with LocalBitcoins itself, it’s easy to get your account verified and start making trades.

LocalBitcoins users do need to proceed with caution, though; it’s possible to get scammed by other users on the site, especially when selling Bitcoin for cash. One common scam, for example, is a buyer who pays you via PayPal and then files a PayPal dispute once they’ve received your Bitcoin. Other payment methods (eg. INTERAC transfer and bank wires) are much more secure, but still, be careful. If it seems too good to be true on LocalBitcoins, it probably is.

Features

  • Easy to use
  • Very easy to start trading
  • Low transaction fees
  • Deposit Turkish liras via bank transfer, INTERAC, Moneygram, Wise, PayPal, ATM deposit, and more
  • Helpful customer support

Fees

  • Trading fees: 0.00006 BTC (~$4 CAD) flat fee per transaction
  • Depositing funds: Free
  • Withdrawing funds: Free

Best For

Investors looking to buy and sell Bitcoin quickly and easily.

6. 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.

7. 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.

8. 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.

9. Paybis

Paybis is a cryptocurrency exchange that was founded in 2014 and is located in the United Kingdom. It enables you to purchase and trade cryptocurrencies, and it’s regulated by the Financial Conduct Authority (FCA).

Paybis allows customers to purchase supported crypto coins in 47 distinct fiat currencies. The Turkish Lira, the Canadian Dollar, US Dollars, Euros, and the Pound Sterling are among the currently supported fiat currencies on the platform.

Features

  • Regulated by the Financial Conduct Authority (FCA)
  • Instant account verification
  • Wide variety of supported payment methods
  • Has a referral program
  • Supports a wide array of fiat currencies
  • Very fast customer support response time

Cost

  • Credit/debit card purchases: 5% + 0.1 USD
  • Skrill purchases: 3.54% + 0.1 USD
  • Advanced Cash purchases: 3.95% + 0.1 USD
  • Neteller purchases: 3.54 + 0.1 USD
  • Payeer purchases: 4.95% + 0.1 USD
  • Bank wire purchases: 3% + 0.1 USD
  • Bank transfer (SEPA) purchases: 1.5% + 1 EUR

Best For

Investors new to the world of cryptocurrency trading looking for an easy-to-understand crypto exchange.

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 CoinSmart due to its very 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.

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

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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 CoinSmart at the top of the list because it has extremely low fees and a current signup bonus of $50.

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 CoinSmart, which offers bank-level protection and incredibly low fees. CoinSmart supports 16 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 CoinSmart, the Canadian exchange that offers services in Turkey and around the world. CoinSmart is a highly secure platform that follows all Turkish laws and regulations, 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 CoinSmart, thanks to its bank-level security, free signup and usage, and easy-to-use mobile app. It can hold 16 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 CoinSmart, 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 CoinSmart. Unlike other crypto apps like Binance and Coinbase, CoinSmart offers a $50 signup bonus to new users, the biggest signup bonus of any crypto platform available in Turkey today.

How Do I Buy Bitcoin With Turkish Lira?

You can buy Bitcoin and more than a dozen other cryptocurrencies with Turkish lira using CoinSmart by sending a bank transfer from your Turkish bank account to your CoinSmart account. You can also deposit funds by making a credit card payment from your Turkish card to your CoinSmart account.

The bonus of buying crypto with your TL 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 CoinSmart. New CoinSmart users receive a $50 signup bonus upon depositing $200 or more into their account, and because CoinSmart is a Canadian 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 CoinSmart, 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 a wide variety of coins and advanced trading on its web platform and mobile app, I suggest our top-ranked exchange, CoinSmart, a Canada-based 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 the taxation of cryptocurrency in Turkey, I suggest reading more here and here.

The Best Crypto Exchanges In Canada

Best Overall

Trading fees: 0.1%
Security: 99% cold storage
Signup bonus: $50

Serving over 400,000 Canadians

★★★★★

Rated 4.9/5

$50 Signup Bonus

Trading fees: 0.2%
Security: 95% cold storage
Signup bonus: $50

Trusted by 200,000+ Canadians.

★★★★★

Rated 4.8/5

Best For Altcoins

Spreads: ~0.5%
Security: 95% cold storage
Signup bonus: $30

Low spreads, great platform.

★★★★

Rated 4.5/5