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BTCTurk

3.5 from 4 vote[s]
Cryptos Supported (6)

Fees

Taker fee

0.30%

Maker fee

0.20%

Withdrawal fee

Bitcoin Logo 0.0005

Funding methods

Wire Transfer

Yes

Credit Card

Cross

Crypto

Yes

US Investors Permitted

Cross

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BTCTurk Review

A trading cryptocurrency guide must provide reviews of all of the top crypto exchanges out there, so that you can find the best cryptocurrency exchange site for you. This review of BTCTurk consists of four parts: general information, fees, deposit methods and security.

General Information

BTCTurk is a Turkish cryptocurrency exchange. Turkey has a surprisingly large number of cryptocurrency exchanges. Bithesap is one of them, but there are many many more.

BTCTurk was actually one of the first cryptocurrency exchanges in the world. When it launched in 2013, it was the first cryptocurrency exchange in Turkey and allegedly the fourth cryptocurrency exchange in the entire world. Today, according to information to Cryptowisser, the exchange has 580,000 registered users and on-boards roughly 15,000 new users each month on average.

The exchange’s main office is in Istanbul (Turkey) and it employs around 90 employees, 40 of which being focused on the trading platform’s customer support office.

US-investors

Unfortunately for any US-investor, BTCTurk prohibits US-investors from trading on its exchange. So if you are a US-investor and want to trade here, you’ll have to reconsider your choice of trading venue and choose one of the other top crypto exchanges.

Mobile Support

BTCTurk’s services are also available in mobile format. You can download the BTCTurk-application on both App Store and Google Play. The below is a picture of how the exchange renders in mobile version:

BTCTurk Mobile

BTCTurk Trading View

Different exchanges have different trading views. And there is no “this overview is the best”-view. You should yourself determine which trading view that suits you the best. What the views normally have in common is that they all show the order book or at least part of the order book, a price chart of the chosen cryptocurrency and order history. They normally also have buy and sell-boxes. Before you choose an exchange, try to have a look at the trading view so that you can ascertain that it feels right to you. This is a picture of the trading view at BTCTurk:

BTCTurk Trading View

BTCTurk Fees

BTCTurk Trading fees

You should remember to always check the trading fees. Before reading the below information it can be worth clarifying the following: what is a taker fee, and what is a maker fee?

A trade gets the taker fee if the trade order immediately matches an order already on the order book, which is removing liquidity from the order book.

A trade gets the maker fee if the trader order not immediately matches an order already on the order book, which is adding liquidity to the order book.

This exchange offers a taker fee of 0.30%. This fee is slightly above the industry average which is around 0.25%. One should consider whether the exchange has a strong offering to investors in other respects that outweighs the disadvantage of this somewhat higher trading fee.

The exchange does however offer a discount to makers, and their maker fees are set to 0.20%. This is a slight competitive edge in the market.

Many exchanges have trading fees that are reduced as volumes are increased, meaning that you are incentivized to trade in higher volumes. The fees listed in this review and in the comparison table are excluding any such volume discounts. The trading fee volume discounts for BTCTurk are as set out in the below picture:

BTCTurk Trading Fees

BTCTurk Withdrawal fees

BTCTurk charges a withdrawal fee amounting to 0.0005 BTC when you withdraw BTC. This fee is far below the industry average and constitutes a competitive advantage against the majority of other top crypto exchanges in the market.

Deposit Methods

BTCTurk offers wire transfer as a deposit method, but you can’t deposit via credit card. As wire transfer is an available deposit method, it makes this exchange an “entry-level exchange”. This means that new cryptocurrency investors can start off their trading career at BTCTurk.

BTCTurk Security

BTCTurk’s security score is C, when performing the test at Observatory by Mozilla (https://observatory.mozilla.org/). This is actually above industry average when it comes to top crypto exchanges. A majority of exchanges in our Cryptocurrency Exchange List only receives an F when running this test.

***

The exchange reviewed above is what we call an “entry-level exchange”. This means that this exchange also makes it possible for someone to enter the cryptocurrency market with fiat currency. There are numerous entry-level exchanges out there, including (but not limited to):

  1. PrimeXBT
  2. Simex
  3. BaseFEX
  4. Currency.com
  5. CEX.io
  6. Changelly
  7. Crex24
  8. Binance
  9. Bittylicious
  10. Coinmate

BTCTurk compared with other cryptocurrency exchanges