There has been an increase in the popularity of Bitcoin and many other cryptocurrencies in Turkey because of the emergence of reliable exchanges and other services allowing people to buy and sell virtual coins. Also, the continuous loss of value (deflation) of the Turkish Lira (TRY) against the US dollar (USD) has made it a not-so-good currency to invest in, especially in the long term.
The good news is that you can easily and conveniently buy Bitcoin in Turkey. Here are some tips that can help you to buy BTC in Turkey:
Use Bitcoin ATMs
If you are looking to sell or buy Bitcoin in Turkey without too much difficulty, then consider using Bitcoin ATMs. These are automated machines that accept cash and transfer Bitcoin to your wallet. The beauty of using automated teller machines to buy Bitcoin is that you can check the prices that most machines that are selling the coins at, and you can make an informed decision. This is because the majority of the operators publish live their machines’ exchange prices.
The major downside of using Bitcoin ATMs to buy Bitcoin in Turkey and other places is that they usually charge relatively high fees (between 5 and 10%) compared to other methods that you could use. On the positive side, the high fees may be a fair price to pay for the convenience to sell or buy your BTC fast because you can do it in less than half an hour. Also, you can transact any time of the day or night.
Use Crypto Exchanges
Another option you may consider if you want to buy Bitcoins in Turkey is using crypto exchanges. So, what is a crypto exchange? A crypto exchange is a marketplace that usually operates online, but may also operate physical offices where you can check and compare digital currencies’ prices, and buy and sell using various settlement methods.
Fortunately, Turkey boasts several crypto exchanges where investors can buy and sell both bitcoins and other coins. The advantages of using crypto exchanges include:
- They are secure: This is because they have several security measures in place to prevent users from losing their funds to scammers
- They have reasonable fees: Most exchanges have considerably lower transaction charges than other methods such as Bitcoin ATMs.
- They are user-friendly: The marketplaces have friendly user interfaces for their online platforms to allow users to have an easier time using them. Other exchanges such as NakitCoins operate physical offices where traders can walk in and transact with USD without any hassles.
- They offer a variety of coins: Exchanges deal with several coins such as BTC, ETH, LTC, and others giving customers a wide choice.
Use Peer-to-Peer Platforms
To buy bitcoins in Turkey, you may also consider using peer-to-peer crypto exchanges. These exchanges are platforms that allow users to exchange crypto privately, without the need for an intermediary. The P2P platforms facilitate convenient trading between verified traders thus avoiding the possibility of any intermediary retaining funds or handling transactions.
P2P platforms have some advantages as a way of buying bitcoins. For example, they allow various payment options, tend to have lower fees than traditional crypto exchanges, and some are more secure because have escrow services. On the other hand, P2P exchanges have some drawbacks such as being slower speed because, without intermediaries, it takes longer to close transactions. Also, some are not as user-friendly and it takes time to learn how to use them.
You can buy Bitcoin in Turkey in various ways. Some of the methods you may use include crypto exchanges, Bitcoin ATMs, and P2P exchanges. Whichever way you choose, ensure it is safe, friendly, and has reasonable fees and that you understand what you are doing.
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