BtcTurk PRO Review: Safe Cryptocurrency Exchange Suitable For All Traders

October 22, 2023 - Around 8 mins mins to read

BtcTurk PRO can be known as a safe and popular cryptocurrency exchange in European countries. Especially with 2 trading modes for beginners and professional traders make it a suitable choice for every trader. This BtcTurk PRO Review will take a look at the full spectrum of the exchange, and consider its advantages and disadvantages.

About BtcTurk PRO

BtcTurk PRO Review: Safe Cryptocurrency Exchange Suitable For All Traders

BTCTurk Pro is the first Turkish crypto exchange among the five and the fourth in the world. It started operating on July 1, 2013 and currently has more than 560,000 customers (more than 15% of which are active). Ozgur Guneri became CEO in 2018 after buying 95% of the company’s shares from the previous CEO, Ozan Yurtseven, and expanding the company to 90 employees.

The BtcTurk Pro exchange offers various cryptocurrencies in exchange for the Turkish lira. Some of the most popular cryptocurrencies are Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Ripple (XRP), Stellar Lumens (XLM), and Tether (USDT).

Two-factor authentication for security purposes, the use of SegWit to streamline the block chain size, BTCTurk API to handle buy and sell options, and hardware storage of 95% of customer funds in foreign multi-signatures. online while providing geographically dispersed backups, among the features displayed on the homepage to entice users.

BTCTurk Pro requires valid identification, such as proof of address and ID documents, for added security. It does not allow anonymity. It also suggests a privacy picture specific to each client.

Furthermore, BtcTurk Pro has a mobile app that allows users to access their accounts more easily. This platform does not support leveraged trading, so it is not suitable for trading CDF. There is also no regulation on BtcTurk Pro. Credit card payments, PayPal payments and cash deposits are not accepted.

In terms of fees, BtcTurk Pro has reasonable commission fees and becomes more favorable as users’ trading volumes increase. However, there is a minimum withdrawal and deposit amount (1000 TRY) by bank transfer. There is a very limited limit on instant transfers (only 10 TRY).

Pros and Cons

Pros

Two trading modes – for beginners and experienced traders;
Accepting fiat money;
No deposit fee;
Low withdrawal fees;
Transparent cooperation, licensed cryptocurrency exchange;
Simple and functional mobile application;
Advanced terminal criteria with push notifications;
High level of protection (97% of funds in cold wallets);
Many cryptocurrencies, there is an exchange with fiat funds;
API for algorithmic trading.

Cons

The only fiat currency is the Turkish lira (TRY);
No passive monetization option;
No PayPal or credit card;
No leverage.

Trading Conditions for BtcTurk Users

The BTCTurk cryptocurrency exchange has set a loyal minimum deposit limit. 0.0001 BTC is significant less than with most websites. Please note that in addition to the terms for the minimum deposit, there is some limitation on the minimum transaction size. Regardless of the market, you cannot enter into a trade for less than 100 Turkish lira (or its equivalent in another asset). The exchange does not provide leverage. Technical support is available by email, and a ticket system is also integrated on the website and in the trading terminal.

Services and Features

Trading

BtcTurk PRO’s trading platform is special with 2 trading modes for novice and professional traders. This makes it easy for any user to use the commands and features that should be on the platform.

You can trade over 50 different cryptocurrencies with BtcTurk Pro. You can trade all popular cryptocurrencies and some minor cryptocurrencies on this platform.

All major cryptocurrencies are traded on the exchange. From fiat, there is the Turkish lira with special rules for the exchange, deposit and withdrawal. The site is not designed for passive income-focused investors and traders, as it does not offer such opportunities.

Although the exchange also has the addition of new cryptocurrencies, this addition is limited as it does not offer a wide range of cryptocurrencies available in the market. It can also become a limitation of BtcTurk when it wants to reach users.

Deposits and withdrawals

The trading volume over the past 24 hours amounted to several thousand (US dollars), which is a good percentage of the total trading volume on cryptocurrency exchanges, and according to this indicator, BtcTurk PRO takes a good place. Derivative transactions are not possible on BtcTurk PRO. Margin trading (leveraged trading) is not provided. The crypto exchange provides the ability to deposit and withdraw TRY fiat currencies. Available payment systems Papara Wire Transfer. The exchange interface supports two languages: English Turkish. And this exchange is one of the leaders in Turkey.

Verification

You do not need to have general customer identification documents (passport, account, etc.) to use BtcTurk Pro. All you need is a valid wallet address. If you choose to buy crypto with fiat, you will most likely need additional documents and a credit card. Otherwise, a valid wallet address will suffice to convert the cryptocurrency.

BtcTurk Pro is dedicated to protecting its users from fraudulent activities related to crypto assets. Certain crypto assets may, as required by law, be used for fraud or other illegal activity. To avoid this, the platform is taking measures to ensure customer verification and security of financial transactions. The AML/KYC method, which allows you to verify that you are a legally compliant individual or company, is one of its best practices.

Mobile application

BtcTurk Pro services are also available on mobile devices. The BtcTurk Pro app is available for download on both the App Store and Google Play.

With the new BtcTurk | PRO Mobile App, you can do everything with your smartphone that you want to do in the browser. Both exchange and wallet: Wherever you are, whenever you want. You can deposit, withdraw, buy, sell in Turkish Lira or crypto.

If you can’t trade without checking the chart, then this app is for you. Get instant notifications of price changes with push notifications on the mobile app.

Fee

Transaction fee

It would be great if you always remember to review the transaction fees of any exchange you want to use. Before proceeding with the information on the fees of BtcTurk Pro, it may be necessary to clarify the following: the difference between the receiver fee and the creator fee. If a trade order immediately matches an order placed on the order book, a receiver fee is charged, removing liquidity from the order book. If a trader’s order does not immediately match the order book, a maker fee is charged, bringing liquidity to the order book.

This exchange charges recipients 0.09 percent (for crypto-to-crypto trading). This fee is about 0.25 percent lower than the industry average. The exchange also offers a discount to producers, with the maker fee set at 0.05 percent (for crypto-to-crypto trading). These prices are still competitive. Many exchanges have reduced trading fees as volume increases, encouraging you to trade in larger volumes.

Withdrawal and deposit fees

BtcTurk Pro charges withdrawal fees based on a percentage; this means you will be charged for the amount you withdraw. Their fee rate is 1.00 percent. This is a new withdrawal fee model, but it is not unprecedented. Most exchanges charge a fixed withdrawal fee regardless of the amount withdrawn. With this exchange fee model you will earn on low withdrawals. When you withdraw 0.01 BTC, the withdrawal fee will drop to 0.0001 BTC (low). If you withdraw about 10 BTC, the withdrawal fee will drop to 0.1 BTC (very high). Please consider whether this withdrawal fee system is suitable for your trading.

BtcTurk Pro accepts bank transfers as a deposit method, but credit cards are not accepted. Since wire transfer is a deposit method, this exchange qualifies as an “entry level exchange”; this implies that new crypto investors can start their trading journey at BtcTurk Pro.

Commissions

The BTCTurk cryptocurrency exchange commission system is similar to the systems used by most other cryptocurrency exchanges. The amount of the commission depends on the user’s trading volume within the last 30 days. There are five levels:

Up to 1,000,000 lira – 0.05/0.09% for maker/taker.
1,000,000 – 5,000,000 – 0.04/0.08% for maker/taker.
5,000,000 – 10,000,000 – 0.03/0.06% for maker/taker.
10,000,000 – 50,000,000 – 0.02/0.05% for maker/taker.
over 50,000,000 lira – 0.01/0.04% for maker/taker.

Please note that the amount of commissions and fees by levels is different for transactions involving the Turkish lira. The commission is higher for such transactions. For example, at the first trading level, it is not 0.05/0.09%, as for other markets, but 0.10/0.18%.

Payment Method

No matter how large or small, the process of buying and selling crypto requires you to fund an account using recognized payment method. When it comes to buying digital assets, BtcTurk PRO only accept payment by Bank transfer for fiat deposits/withdrawals.

Conclusion – BtcTurk PRO Review

BtcTurk Pro is one of the few Turkish crypto exchanges with good trading conditions, low fees and strict security. According to some customer feedback, BtcTurk Pro provides reliable and timely service. We have not received any complaints, at least in English. This could be a new exchange that traders should try.

Hope this article was useful to you. If you have any suggestions, please leave them below in the comments section to make our article better.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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