BTC Turk Highlights
In this BTC Turk review, we delve into the key features that set this cryptocurrency exchange apart:
- Pioneer in Turkey: Established in 2013, BTC Turk has built a strong reputation and boasts a global user base of over 5 million.
- Versatile trading options: BTC Turk offers not just basic trading functionalities but also advanced order types like market, limit, and stop limit orders.
- Mobile experience: Features a dedicated mobile app designed for both iOS and Android that allows for on-the-go trading and fund management.
- Robust API: Ideal for advanced traders and developers, allowing easy access to real-time market data, trading, and account management.
- 24/7 Turkish lira transactions: Integrated with major Turkish banks for round-the-clock deposits and withdrawals in Turkish lira.
- Security measures: Uses cold storage and two-factor authentication, among other measures, ensuring a high level of security of users’ assets.
What Is BTC Turk?
Founded in Istanbul back in 2013, BTC Turk is a pioneer in Turkey’s crypto scene and one of the earliest platforms to exist globally. When they say they’re the fourth-ever Bitcoin and cryptocurrency trading platform, they’re not just dropping trivia; they’re emphasizing their long-standing expertise in the field.
Boasting a massive global user base of over 5 million people, BTC Turk isn’t just limited to Turkey; it operates worldwide. And it’s not just about the number of users but also the diversity of trading options available. With over 200 trading pairs and more than 100 cryptocurrencies supported, the exchange offers a rich palette of options for traders.
Thanks to integration with major Turkish banks, BTC Turk offers 24/7 deposits and withdrawals in Turkish lira, the only available fiat currency, which could be a significant advantage for those operating in the Turkish financial ecosystem.
Last but not least, the BtcTurk | Kripto service improves the trading process by providing benefits such as lower fees and no Bitcoin transfer fees.
How to Open an Account at BTC Turk
- Initiate registration: Head over to the BTC Turk or BtcTurk PRO website or mobile application. Click on the “Register” button.
- Fill out the registration form:
- For Turkish citizens: Provide your Turkish citizenship ID number, email address, name, surname, date of birth, mobile phone number, password, and address Info.
- For international users: Deselect the “I am a Turkish Citizen” checkbox. Provide your email address, password, first name, last name, and select your country.
- For Turkish citizens: You’ll be prompted to verify your phone number to activate SMS authentication.
- For global users: Activate 2FA using an authenticator app like Google Authenticator, LastPass Authenticator, Microsoft Authenticator, Authy, or a similar tool. Remember to back up your 2FA registration key.
Is BTC Turk Safe?
One of the standout features is BTC Turk’s use of cold storage for at least 97% of users’ Bitcoin, making it significantly harder for unauthorized users to gain access. These cold storage wallets aren’t just any wallets; they’re multi-signature and housed on FIPS-Level 2 certified devices, the kind of tech that meets rigorous security benchmarks.
The safeguarding doesn’t stop at hardware; it extends to location as well. Wallet backups are stashed in undisclosed overseas facilities, making physical tampering or unauthorized access exceedingly difficult. What’s more, these wallets are operationally rigid. You can’t move a single Bitcoin without multiple digital signatures being verified.
Moreover, two-factor authentication is compulsory, not optional. That means each time you log in, a secondary, time-sensitive code generated through an authenticator app stands between you and your account.
As we found in our BtcTurk review, the platform employs security images to help you confirm that you’re logging in to the authentic BTC Turk website. Whenever you log in, a unique security image assigned to your account is displayed. If you see an unfamiliar image, it’s advised to check the URL to ensure you’re on the correct site.
And let’s not overlook the auditing by KPMG. This isn’t just any auditor; it’s one of the “Big Four” accounting firms globally, trusted to scrutinize financials and operations. This regular auditing of BTC Turk’s user crypto assets adds to the platform’s credibility.
What Are BTC Turk Features?
From its versatile trading platforms and user-friendly mobile app to its advanced API capabilities, the exchange is designed to meet a variety of trading needs. Here’s a closer look at these standout features:
Basic and Advanced Trading Platforms
BTC Turk Kripto offers a user interface that caters to traders of all experience levels, but it sets itself apart by offering more than just the basics. While the platform includes standard features like an order book, price charts, and trade history, its standout quality lies in its diverse range of order types. Most exchanges typically just offer spot trading, limiting your options to simple buy or sell orders.
BTC Turk Kripto, on the other hand, broadens your strategic scope by providing market, limit, and stop orders. This makes the platform a good fit for those who want to employ more nuanced trading methods.
BTC Turk App
BTC Turk enables you to trade like a pro, even when you’re miles away from your computer.
Exclusive to iOS and Android, the app lets you keep an eye on market stats but also carry out critical tasks like fund management and trade execution. You can set up real-time price notifications so you never miss a market movement, all while keeping tabs on your account balance.
BTC Turk provides a robust API for advanced trading and data retrieval. Once you’ve got an account, you can easily access real-time market data, manage trades, and handle account details. All data is returned in JSON format. Parameters are flexible, and you can use specific trading pairs like “BTCTRY” for targeted operations. The API is straightforward, versatile, and built to streamline your trading journey.
What Are BTC Turk Fees?
Crypto-to-crypto trading fees:
- Maker fees range from 0.08% to 0.01%.
- Taker fees start at 0.12% and can go as low as 0.01%.
Crypto-to-TRY (Turkish lira) trading fees:
- Maker fees are a bit higher, starting at 0.12% and dropping to 0.01%.
- Taker fees begin at 0.20% and go all the way down to 0.08%.
The fee level you’ll encounter depends on your 30-day trade volume, and it’s denominated in TRY. The levels start from 0-1,000,000 TRY and extend up to 400,000,000 TRY and beyond.
For Turkish citizens, there’s an added perk—you’ll get to enjoy lower commission rates on crypto-to-crypto pairs. Also, it’s worth noting that each user is assigned a single fee level.
The exchange’s website lists the withdrawal fees for each currency. In addition to free deposits and withdrawals for Bitcoin, many other cryptocurrencies offer free deposits.
BTC Turk Customer Support - What Are the Options?
Got a question at 3 a.m.? No problem—BTC Turk offers 24/7 support, making sure you’re never left in the lurch, regardless of your time zone. As our BtcTurk review discovered, the website also has some educational resources about cryptocurrency and crypto trading.
For those who prefer direct communication, there’s a live chat feature, enabling real-time assistance without the back-and-forths of email. Speaking of email, if you’re more inclined to go this route for detailed queries or documentation, you can reach out to the dedicated support team at [email protected], or you can use a contact form on the site.
What Do Customers Say About BTC Turk?
If you go through BTC Turk reviews on Trustpilot, you’ll find a mixed bag of feedback. The platform scores an average TrustScore of 3.4 out of 5, based on 14 reviews, which isn’t too bad. This suggests that while BTC Turk is generally reliable, there’s room for improvement.
The platform has garnered both positive and negative comments from users. On the bright side, many appreciate its user-friendly interface and robust features. However, some users have pointed out issues such as delays in transactions or customer service responsiveness.
Final Thoughts: Is BTC Turk Worth It?
If you’re looking for a crypto exchange that combines an impressive range of advanced trading features with a user-centric mobile experience, BTC Turk is a strong contender.
BTC Turk caters to a variety of trading styles through its diverse order types, such as market, limit, and stop orders. Its security features, including the usage of cold storage and mandatory two-factor authentication, add an additional layer of trust.
The downside is its geographic and currency limitations—the platform isn’t available in the US like many other top exchanges, and the Turkish lira is the only BtcTurk fiat option. But for traders who can work within these parameters, this platform is definitely a decent choice.
Is BTC Turk legit?
BTC Turk is a legitimate cryptocurrency exchange. Established in 2013, it is one of the earliest exchanges globally and the first in Turkey. It serves a large user base of over 5 million and is subject to regular audits by KPMG.
What is the transaction fee for BTC Turk?
BTC Turk has a tiered fee structure based on your 30-day trading volume. For crypto-to-crypto trades, maker fees start at 0.08% and go down to 0.01%, while taker fees range from 0.12% to 0.01%. For crypto-to-TRY trades, maker fees vary from 0.12% to 0.01%, and taker fees are between 0.20% and 0.08%.
How do I withdraw from BTC Turk?
According to our BTC Turk review, to withdraw from this platform, you’ll need to log in to your account and navigate to the withdrawal section. Here, you can choose the cryptocurrency or fiat currency you wish to withdraw. After entering the amount and withdrawal address, you’ll be prompted to confirm the transaction through two-factor authentication or other security protocols enabled on your account.