Binance Turkey is an online exchange for cryptocurrency trading in Turkey.

The platform helps convert traditional currencies (FIAT) into cryptocurrencies that can be traded and used within the platform for users in Turkey.

Which allows Turkish users and clients to trade and exchange digital assets.

Currently, by using the Binance TR platform, users in Turkey can deposit and withdraw Turkish lira (TRY) through a direct banking channel and buy cryptocurrencies on this platform directly using pairs of TRY (Turkish Lira).

The Binance TR platform supports transactions on the most important digital currencies in the world, including:

• BTC / TRY
• ETH / TRY
• USDT / TRY
• XRP / TRY
• BNB / TRY
• USD / TRY
• BTC / USDT
• ETH / USDT
• XRP / USDT
• BNB / USDT
• BUSD / USDT

Many other digital currencies are also added regularly, to support their trading within the Binance Turkey platform.

The Binance Turkey platform is backed by key exchange functions including market leading liquidity, state-of-the-art security, maintenance and risk control systems.

This platform also helps increase the convenience and accessibility of users who want to buy and trade cryptocurrencies around the world.

Binance Exchange has partnered with leading global partners to build Fiat-Ramzarz trading platforms, not only in Turkey, but also in Singapore, Korea, Uganda, Jersey and the United States.

These trading platforms also allow users to easily buy and sell cryptocurrencies using specific local currencies.

General rules of Binance Turkey

The general rules regarding the use of the services of the Bainance platform in Turkey include the following:

Binance Turkey is basically a cryptocurrency trading platform.

Users can buy or sell cryptocurrencies through the platforms.

This platform mediates these transactions through its website.

However, it does not set, modify or affect the prices specified on this platform.

Investing in cryptocurrency is a risky economic activity.

Therefore, Binance confirms that if you are a member and use the services of this platform, you will declare yourself as a user and agree to acknowledge the risks of investing in cryptocurrencies and you will bear this responsibility.

Binance Turkey is not responsible for any damages caused or resulting from your investment.

Binance is the owner of all Services, domain name, software codes, interfaces, content, product reviews, videos, algorithms, maps, models, designs, and other intellectual property rights, unless otherwise stated).

Therefore, copying, publishing and any kind of violation of the above is not allowed in Turkey at all.

Read in details about trading and investing in Cryptocurrencies in Turkey.

Binance Turkey Services

The services provided by the Binance Turkey platform include:

• Register, maintain and use an account on the Platform, where you will have your unique ID.
• At least one crypto wallet is stored and used in your account, in which you can store a variety of cryptocurrencies.
• It is possible to keep digital currencies in your account within this platform, or transfer them to other wallets with the exchange of certain types of FIAT currencies.

Finally, to avoid any doubt, Binance Exchange is not involved in managing any fiat-related financial services such as online deposit, transfer and withdrawal in Turkey.

FIAT currencies are exchanged for users on software platforms provided by third party service providers under their service agreements and policies.

Therefore, for users of Binance Turkey, in case of any concerns or problems related to financial services, you can contact the relevant service providers.

The platform assumes no responsibility for any claims that may be made against FIAT related financial services and will refer any claims to the relevant service providers.

The post Binance Turkey platform and services – Cryptocurrency trading in Turkey appeared first on Move 2 Turkey.

Digital currency or cryptocurrency entered Turkey for the first time in 2009 and immediately attracted the attention of many investors and businessmen in this country.

The rapid growth of the digital currency in Turkey has been significant, especially when it was recognized by a number of Turkish regulators in early 2013.

Digital currency transfers between two parties are direct and without any intermediaries, as it has no owners, no offices, no central bank, so there is no official who can control its value.

The most prominent of these currencies is Bitcoin, whose value depends on supply and demand.

When demand is high, its value increases, and when demand decreases, its value goes down.

At the moment, the value of digital currencies in Turkey is constantly breaking new records.

In this article, we will talk about cryptocurrencies in Turkey to give an overview of those who intend to invest in cryptocurrencies in Turkey or make money through day trading.

Cryptocurrencies in Turkey

Since 2017, known as the golden year of cryptocurrency, Turkey has been considered one of the largest users of cryptocurrency in the world, due to the positive correlation between investing in cryptocurrencies and the country’s economic restrictions.

In the fall of 2018, more Turkish citizens invested in cryptocurrencies as the value of the Turkish lira drastically depreciated that year.

By the end of 2018, cryptocurrencies became almost universal in Turkey and were able to significantly penetrate the market in Istanbul.

In 2018, the Turkish market, along with the United States, China, Russia and Vietnam, recorded the largest number of cryptocurrency exchanges.

The interest was so strong that Vitalik Buterin, founder of Ethereum, the world’s second largest cryptocurrency, once asked on his Twitter account why his name was so widely mentioned in Turkish on social media.

In general, inflation and fluctuations in the exchange rate of the Turkish lira are among the main reasons for the growing popularity of digital currencies in the country.

Analytical reports from Blockchain Chainalysis show that Turkey is a pioneer in the use of digital currencies in the Middle East as it has the highest acceptance rate for Cryptocurrency in the region.

But recently, on April 30 of this year, Turkey revealed plans to ban these digital currencies as a form of payment in an attempt to combat the economic crisis, reduce high inflation rates, and reduce the unemployment rate.

Are digital currencies legal in Turkey?

By order of President Recep Tayyip Erdogan, he recently issued a decree stipulating that Turkey should add cryptocurrency trading systems to the list of companies covered by anti-money laundering and terrorist financing regulations.

So Turkey started tightening restrictions on the cryptocurrency industry from mid-April with the aforementioned ban on cryptocurrencies as a means of payment.

Before the ban, the use of cryptocurrencies in Turkey was skyrocketing, thanks to the fact that the Turkish lira was facing significant external pressure.

Since the ban was announced, two cryptocurrency exchanges have been shut down and employees of each have been detained.

Recently, six people have been imprisoned pending trial in connection with the investigation.

One of those exchanges is Thodex, where it has been suspended and its CEO has gone missing, and the other is a platform called Vebitcoin.

Currently, the use of digital money as a method of payment has been banned through a partial ban in Turkey, but owning cryptocurrency is still legal even if paying with it is not.

This may be comforting to the thousands of Turks who have invested their money in cryptocurrency.

But investing in unregulated matters, along with fickle government laws is not a very alluring atmosphere.

How to use cryptocurrencies in Turkey

It is as simple as buying any other currency or stock, when its value is low you can invest in it and then sell it at an increased value, crypto investors in Turkey do the same.

Compared to the US dollar and the Euro, the value of digital currencies can change significantly during the day, and this is what attracts many people who are looking for a quick profit.

Transfer money to Turkey through cryptocurrency

The desire to buy digital currencies, especially bitcoin, in Turkey has encouraged many investors to use bitcoin and other digital currencies to transfer funds to Turkey.

As mentioned, Turkey is one of the countries with a strong track record of digital currency given that the Turkish local currency is currently experiencing some problems.

On the other hand, the exchange of cryptocurrency around the world is very simple and fast, so many foreign investors and immigrants have used the purchase of cryptocurrencies to transfer money to Turkey.

The future of digital currencies in Turkey

Some Turkish economic analysts believe that the adoption of cryptocurrencies in the country will increase and that since Turkey is currently going through an economic crisis, traders in the country can experience great benefits from cryptocurrencies.

Also, the former Turkish central bank governor, Naci Aqbal, said in a statement that the acquisition and launch of the central bank’s digital currency is the country’s priority in 2021.

Many Turkish citizens also sought to protect their savings by converting them into digital currencies in light of inflation and the economic crisis that the country is going through due to the Coronavirus.

What is the best way to buy digital currencies in Turkey

Cryptocurrencies in Turkey are traded through platforms such as Binance TR. Which has an office in Turkey and is considered one of the largest platforms in the world.

And since cryptocurrency values ​​can be broken into small pieces, you can buy any amount you want.

In order to buy and sell cryptocurrencies in Turkey, it is necessary to have a virtual wallet.

• Enter https://www.trbinance.com.
• Create an account using your real name (the name must match the name on your ID)
• After registering, you must prove your identity by uploading a photo of your passport, driver’s license or ID. It usually takes about 24 hours for the account to be approved.
• After confirming the account, you can now deposit funds through a wire transfer from a Turkish bank. You must make your transfer only through individual and existing TRY accounts registered in YOUR NAME.
• Transferring funds only takes a few minutes, then you will see that the funds have already been deposited into your Binance account.
• Choose the Cryptocurrency you want to buy. You can buy Bitcoin, Bitcoin Cash, Litecoin, Ethereum, Ripple and many more.

Best and Trusted Cryptocurrency Trading Platforms in Turkey

• Binance Turkey
• BTC Türk
• Icrypex
• Blockchain
• Paribu
• Bitexen
• Coinbase
• Kraken
• Blockfolio
• BitTurk
• Stormgain

The post Investing in Cryptocurrency in Turkey – All you need to know appeared first on Move 2 Turkey.

On Tuesday, Albanian security forces raided a building where Faruk Fatih Ozur, CEO and founder of the cryptocurrency exchange “Theodex”, was sheltering.

According to security sources, the security forces arrested two citizens who provided assistance and accommodation to Ozur upon his arrival in Albania.

He added that two security groups raided the building where Ozur resides in the capital, Tirana, and arrested two people, one of whom received Ozur upon his arrival at the airport and helped him hide.

The International Police (Interpol) also issued a red notice to arrest Ozur at the request of Ankara, while he was accused of a fraud estimated at two billion dollars.

Turkish Interior Minister Suleiman Soylu also made a phone call with his Albanian counterpart, Blider Jogi, on Thursday evening, to arrest Ozur and extradite him to Turkey.

Thodex is a cryptocurrency exchange established in 2017.

It operates under a “FinCen MSB” license in the United States, and is open to users worldwide.

However, since April 20, it has closed its website and published a statement claiming that the closure is “temporary”.

And that it is conducting procedures for a “new partnership”, which caused panic among the platform’s users, who are estimated in the hundreds of thousands.

Amid allegations of “the flight of Ozur, and the disappearance of $ 2 billion in digital currencies”.

It is also noteworthy that the Turkish Central Bank recently banned the use of currencies and digital assets in the purchase of goods and services.

Pointing out the possibility of irreparable potential damages and great risks in these dealings.

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Faruk Fatih Özer, founder of the Turkish cryptocurrency investment company Thodex, left the country with $ 2 billion in investor money.

According to the International Service of Radio and Television Agency from Ankara, the Istanbul Prosecutor’s Office launched an interrogation process after complaints by Faruk Fatih Ozer, owner of the cryptocurrency investment company Thodex, that all of the company’s websites are inaccessible and users cannot log into their accounts.

Oguz Oren, a lawyer representing thousands of company users, said that Faruk Fatih Ozer left Turkey yesterday, and called on the legal authorities to return him to the country as soon as possible.

In the meantime, Thodex announced that it will join a major global currency company, announcing that the process will end within the next four to five days, and users will be able to access their accounts again.

The cryptocurrency company Thodex has more than 391 thousand users, and the total capital of these users in this company reaches two billion dollars.

The lack of access to their accounts during the past two days has caused severe tensions in the Turkish cryptocurrency markets.

The Turkish cryptocurrency market has witnessed fraud by some cryptocurrency brokerage firms in recent years.

In general, users were unable to save their capital due to the lack of specific standards for these companies.

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New records are being broken every day in the cryptocurrency market.

After electric car manufacturer Tesla announced that it had received a total of $ 1.5 billion in Bitcoin.

After this news, Bitcoin rose more than 8 percent to around $ 45,000.

In fact, the company will start accepting Bitcoin in auto sales in the next phase.

As the increase in the value of bitcoin accelerates, interest in this type of investment is increasing in Turkey and the world.

The head of the Central Bank, Naci Agbal, announced the start of studying digital currencies last year. Indeed, experts have been appointed to start this project.

President Erdoan also approved the program, which was prepared by the Treasury and Finance Department and the Strategy and Budget Department.

TUBITAK and the Central Bank of the Republic of Turkey will be the two institutions that will manage this project.

So, what is the agenda for cryptocurrencies in Turkey, and work at what stage?

Head of Economics Department at Selcuk University Prof. Dr Haldun Soydal answered many inquiries:

Will Turkey use digital currencies?

The central bank will conduct the digital wallet and transfer transactions using blockchain technology.

In this way, it aims to record transactions that take place in digital currencies.

The Ministry of Trade also took over. Software developers have been contracted for this. It is currently being worked on.

Studies are in the testing phase and it is known that experimental applications will start in the second quarter of this year.

The name of the local cryptocurrency is not yet known. We don’t know if it will be Turkcoin.

If the tests are successful at the end of 2021, 2022 and 2023, Turkey can also say that the use of digital currency will be available to buy local products.

Do digital currencies provide stability in the economy?

The fact that cryptocurrencies are issued by central banks using blockchain technology in the official sense and are used in international trade means that everything changes from start to finish.

The disappearance of the dollar reserve money advantage is a window into a completely different world.

At the same time, it is also important for the financial market to use it as a derivative instrument, thus finding a serious response in the derivative markets.

We will see that the strength of digital currencies will increase more in the coming periods. “

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