Following President Recep Tayyip Erdoğan dismissal of central bank governor Naci Agbal recently, the Turkish lira (TRY) took a tumble in global markets and sent Google searches for the term “Bitcoin” soaring. Whether using Bitcoin to hedge against the demise of your local fiat, high inflation rates, or just to tap into a new market, cryptocurrencies provide a reliable gateway with global usability. Whatever your reasons, we’re going to show you in this simple guide how to buy Bitcoin in Turkey in 2021.
How To Buy Bitcoin Via Bank Transfer – Binance TR
Catering exclusively to the traders in Turkey, Binance in partnership with BN Teknoloji A.Ş (a fintech company operating the platform) have launched Binance TR. Leveraging the same liquidity, security and technology that Binance users around the world know and love, the platform has been well received by locals. Binance TR offers fiat to crypto and crypto to crypto exchanges with deposit and withdrawal options available via a direct bank channel with the Turkish lira (TRY).
Binance CEO Changpeng Zhao (CZ) made a statement saying “Turkey is not only one of the leading countries in blockchain adoption but also a key bridge market for the global economy, which connects Asia to Europe. Interest and development in the crypto space from Turkey have been dynamic from the early days of Binance. We are looking forward to providing a local crypto exchange platform, which will be shaped and developed together by us and our Turkish community.”
The process is simple. All you need to do is register an account on Binance TR and complete a KYC verification process. This is a common practise for reputable exchanges and protects both you and the exchange from becoming involved in any illicit activities. The next step will be to fund your account with lira through bank transfer. Follow the instructions given and the banking details provided and wait for the funds to clear in your Binance TR wallet. Once these funds have cleared you can then select Bitcoin from the list of coins to purchase and indicate the amount you would like to buy. Once the purchase has been made the BTC will appear in your Binance TR wallet.
How To Buy Bitcoin Via Credit / Debit Card – Bitit
Launched in 2015, Bitit has been providing traders access to crypto markets in their local currency for years. The platform prides itself on its ease of use and simple layout, assisting traders from beginner level to the more experienced. Bitit also allows users to purchase crypto using credit card, cash, e-wallets and bank transfers. In this section of how to buy Bitcoin in Turkey in 2021 we’re looking at how to buy Bitcoin via credit / debit card.
In order to do so you’ll need to create an account on the platform which requires some personal information and a few minutes of your time. Once the account is set up you’ll then need to complete a KYC verification. The more information you share the higher the amount of Bitcoin you can trade. Once you’re all set up you can then buy Bitcoin using your credit or debit card instantly by following the instructions. Note that only Visa and Mastercard cards are accepted. Once the transaction has taken place the BTC will appear in your Bitcoin wallet on the platform.
How To Buy Bitcoin With A Local Payment Processor – Paxful
For this Bitcoin purchase we’re going to use the highly esteemed Paxful platform and Google Play Gift Card as the payment method of choice. Of course there are hundreds of other options available on the site, so if Google Play gift card doesn’t suit you be sure to check out the other payment methods available.
Paxful is a leading peer to peer crypto trading platform that supports buyers and sellers from a broad range of countries around the world. The platform was launched in 2015 and has built themselves into an industry leader in the space. With over 300 different payment options available on the platform, it is not hard to see why.
To make use of their services, users will need to create an account on the platform. Once logged in, set your criteria for the trade (how much BTC you want to buy, your preferred payment method, etc). You can then scan through the open trades available, and be sure to check out the seller’s record. Paxful displays the seller’s name alongside how many positive feedback comments they have completed, and after clicking on the name you can learn a lot more about the trader. In their profile you can see stats like where the trader is from, how many trades they have completed and how many trade partners they have had. When you’re content with a trade offer, select Buy on the left hand side and read through the seller’s trade terms.
When you are ready to go ahead with the trade enter the amount of BTC you are looking to buy and click Buy Now. You will then be directed to a secure chat with the buyer directly, giving you both an opportunity to ask questions or to communicate any concerns. You will then need to transfer the agreed upon funds, in this case using the Google Play Gift Card, to the details provided by the seller. Once this is done, hit Paid and wait for your funds to clear in your Bitcoin wallet.
How to Buy Bitcoin in Turkey in 2021
With the mass interest in Bitcoin growing by the day, it seems as good a time as any to learn how to buy Bitcoin in Turkey in 2021. Whether you’re looking for an investment or a new means to pay for goods and services, Bitcoin is everything you need and more. Be sure to keep an eye on our specialized Bitcoin 101 section to ensure that you continue to stay one step ahead.