Best Crypto Exchanges in Turkey

Best Cryptocurrency Exchanges in Turkey

After thoroughly reviewing over 15 cryptocurrency exchanges, we've identified the top platforms for investors in Turkey. Our evaluation considered crucial criteria, such as accreditation by the Capital Markets Board of Turkey (SPK), the range of digital assets available, user interface simplicity, options for depositing Turkish Lira, transaction fees, and other important factors. This ensures an accurate ranking of these exchanges.

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1. Bybit

Bybit stands out as the top cryptocurrency exchange in Turkey, offering an intuitive platform tailored to the needs of the Turkish crypto community. With a portfolio of over 1,100 digital assets, Bybit ensures secure transactions on its regulated platform. Users can make direct deposits from major Turkish banks like Ziraat and Halkbank in Turkish Lira (TRY).

Bybit excels with its diverse range of cryptocurrencies, staking opportunities, and futures contracts with up to 100x leverage and excellent liquidity. This versatility suits various investment strategies. With competitive fees—0.01% maker fee and 0.06% taker fee—and a global community of over 20 million users, Bybit is a leading force in the crypto market.

• Fees: Maker fee at 0.01%, taker fee at 0.06%.
• Supported Cryptocurrencies: Access to over 1,100 digital assets.
• Regulation & Licensing: Complies with international regulations for secure operations in Turkey.
• TRY Deposit Methods: Supports bank transfers, debit cards, Google Pay and other methods.

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2. OKX

OKX ranks second among Turkey's top cryptocurrency exchanges, known for its deep liquidity in major cryptocurrencies like Bitcoin, Ethereum, and stablecoins such as Tether USDT and USDC. With over 300 leading crypto assets, OKX serves as a comprehensive financial hub for Turkey's crypto enthusiasts.

The platform features an advanced DeFi ecosystem powered by its proprietary OKT Chain, offering functionality comparable to Binance's BNB Chain. This allows users to invest in DeFi protocols with the potential for high returns. The platform supports various trading options, including spot, margin, and futures, and includes an active NFT marketplace and DeFi portfolio management tools.

• Fees: Free TRY deposits and withdrawals. Spot trading has a 0.1% fee, and derivatives trading offers a 0.02%/0.05% maker/taker rebate.
• Supported Assets: Trade over 300 cryptocurrencies and stake more than 150.
• Regulation & Licensing: Operates under regulations in Hong Kong and Malta, providing proof of reserves for added trust.
• TRY Deposit Methods: Accepts Credit/Debit Card, Google Pay, bank transfers, and more.

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3. Binance

Binance ranks third for Turkey's crypto community, known globally for its extensive and reliable services. With operations in over 130 countries and a user base of over 100 million, Binance offers a wide range of trading options, including spot, margin, and futures trading, across more than 350 crypto assets. This variety appeals to many Turkish traders.

Binance is praised for its multilingual customer support, including Turkish, and for facilitating quick TRY deposits via local banks and payment methods. Its strong regional presence and dedicated local investor community boost its credibility among both beginners and experienced traders. Binance provides a comprehensive crypto trading experience with numerous tools and services.

• Fees: TRY transactions have fees from 0.5% to 2.99%, with a standard 0.1% spot trading fee and a 0.02%/0.06% futures trading rebate.
• Supported Assets: Trade over 300 cryptocurrencies and stake more than 100.
• Regulation & Licensing: Binance operates without Turkish regulation and does not provide proof of reserves.
• TRY Deposit Options: Includes Advcash, credit/debit cards, bank transfers, and over 10 other methods.

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4. BtcTurk | Kripto

BtcTurk | Kripto, a pioneer in Turkey's cryptocurrency market, secures the fourth spot on our list for Turkish crypto enthusiasts. With over 5 million users, it offers a seamless trading experience across 207 pairs and boasts a 24-hour exchange volume of $64M. This platform is highly regarded for its simplicity in handling cryptocurrency transactions for a wide range of traders in Turkey.

As a Tukey-based exchange, BtcTurk stands out for its user-friendliness and 24/7 comprehensive support. The platform prioritizes security, keeping 97% of assets in multi-signature cold wallets, and ensures transparency through regular audits by KPMG. With competitive fees, high liquidity for quick transactions, and its sponsorship of the Turkish National Football Teams, BtcTurk demonstrates strong community commitment.

• Fees: Trading fees on BtcTurk PRO include an 18% VAT for Turkish residents.
• Supported Assets: Trade 102 cryptocurrencies.
• Regulation & Licensing: Regulated in Turkey with audits by KPMG.
• TRY Deposit Methods: Supports Bank Transfer and EFT, aligning with local banking preferences.

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5. KuCoin

KuCoin ranks fifth for crypto enthusiasts in Turkey, known for its global presence in over 200 countries and a daily trading volume exceeding $2.48 billion. Offering access to over 700 coins across spot, futures and options markets, KuCoin provides Turkish traders with a wide array of opportunities to explore promising crypto assets.

KuCoin ensures a secure trading environment with advanced security measures, including Proof of Reserves (PoR), enhancing transparency and user safety. Its extensive services, such as diverse trading options and the Halo Wallet, combined with 24/7 customer support, make it a popular choice in Turkey, connecting with 29 million global investors.

• Fees: Free TRY transactions; spot trading fees start at 0.1%, derivatives offer a 0.02%/0.06% maker/taker rebate.
• Supported Assets: Over 700 cryptocurrencies available for trading and staking.
• Regulation & Licensing: Lacks regulation and does not offer proof of reserves.
• TRY Deposit Methods: Includes Bank Transfer, EFT Transfer, Skrill, Blik, STC Pay, Papara,

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Is Crypto Legal in Turkey?

Yes, cryptocurrencies, including Bitcoin, are legal in Turkey but have a complex regulatory status. They are not considered illegal, but their use is subject to restrictions imposed by the authorities. The Central Bank of the Republic of Turkey has implemented regulations to prevent the use of cryptocurrencies for purchasing goods or services due to concerns about their volatility, potential for illegal transactions, and risk of irreversible losses.

Despite these restrictions, Turkish citizens are free to trade, buy, sell, and hold cryptocurrencies. It's crucial to understand the regulatory framework to make informed and safe investments in this market.

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Does Turkey Tax Cryptocurrencies?

Yes, the Ministry of Treasury and Finance in Turkey regulates cryptocurrency taxation, including income tax, VAT, and withholding tax. The tax applied depends on the nature of the transaction and the profit made. VAT is charged when cryptocurrency is used for payments. If you hold cryptocurrency as a capital asset and sell it for a profit, that profit is subject to income tax.

Non-residents pay a withholding tax on cryptocurrency payments, with rates set by tax treaties. Profits from token sales are also taxed as income. If you hold cryptocurrency for over a year and sell it for a profit, it's taxed as a long-term capital gain at a lower rate. All transactions must adhere to AML and KYC regulations, requiring investor identification.

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Bottom Line

Investing in cryptocurrencies in Turkey is secure and convenient, with several reputable exchanges offering a variety of deposit methods and compliance with local regulations. Our expert review of the top platforms, Bybit, OKX, Binance, BtcTurk | Kripto, and KuCoin, provides a reliable guide for navigating the crypto market.

These exchanges ensure a seamless experience for converting Turkish Lira to digital assets, supported by robust security measures and user-friendly interfaces. Understanding the regulatory landscape and tax obligations is crucial for making informed investment decisions in Turkey's evolving crypto ecosystem.