Are you new in Istanbul and looking for the best Istanbul Bitcoin exchange to use? Or are you a Turkish person who is just getting started with cryptocurrency? If yes, then you are not alone. Bitcoin trading is gaining big popularity in Turkey, and this has led to numerous new Bitcoin exchanges, both online and physical, across major cities of Turkey.
Choosing an Istanbul Bitcoin exchange for the first time can be overwhelming unless you have all the information you need. Most people make rush to choose their perfect exchange without the right preparations and end up making mistakes.
Fortunately, this article will guide you accordingly, so go through it to the end to learn more.
Understand Whether You Want to Buy or Sell
Before choosing an appropriate Istanbul Bitcoin exchange, you need to understand whether you want to buy or sell Bitcoin and how you want to do it. Whether you will use cash or other crypto coins makes a lot of difference.
If you are buying Bitcoin for the first time, you need fiat money or other digital assets and a Bitcoin wallet. These are factors that may determine the Istanbul Bitcoin exchange you will use because some accept cash while others don’t. They are also selective on coins they accept to trade. If you are ready with all of this information, then you will have an easy time looking for an exchange to use in Istanbul.
Choose an Istanbul Bitcoin Exchange
There are many crypto exchanges in Turkey, and some are international while others are local. They fall into all categories of crypto platforms, so it is up to you to choose one that will work for you. Here are the most popular types of Istanbul Bitcoin exchanges:
- Bitcoin ATMs – These are physical exchanges in the form of an automated booth that resembles a bank ATM. Anyone with an adult ID or passport to prove their age can walk to one and buy or sell cryptocurrencies. They scan the QR code of your digital wallet to start a transaction. If you are in Istanbul, just locate the nearest ATM using your online maps.
- Physical office exchanges – These outlets are more professional and have concierges who help people to buy and sell cryptocurrencies in an office setup. They also offer consultancy services to beginners who are not sure of what they need to buy or sell. However, you still need to be ready to trade as guided by this article.
- CEX platforms – These are online cryptocurrency exchanges accessed through mobile apps, desktop apps, and web platforms. They use a centralized approach where all transactions are regulated. Therefore, you need to open an account to trade. Istanbul has both local and international CEX platforms. You can access such an Istanbul Bitcoin exchange from anywhere to trade.
- DEX platforms – Are you still looking for a reliable Istanbul Bitcoin exchange? Consider using a decentralized platform that connects crypto buyers and sellers. There are many such platforms in Turkey and choosing the best will make it easy for you. You also need an account to start trading either as a buyer or seller.
Considerations When Choosing an Istanbul Bitcoin Exchange
To avoid losing your investment, you definitely need a secure exchange. Therefore, consider this even as you choose a platform in any of the above categories. Security means that you trade or conduct any transaction without the fear of losing investment to hackers or other malicious people. Reputable Bitcoin exchanges in Istanbul and any other place use encryption technology to protect all data. They also have login measures for controlled access.
Another consideration to make when choosing an Istanbul Bitcoin exchange is the cost. It does not have to be too expensive to trade Bitcoin and other cryptocurrencies. Due to the high competition in Istanbul, most of the platforms are competitive.
Lastly, you should consider the convenience of a platform. Accessibility and how the platform looks and performs transactions play a big role. If it is user-friendly, then you have a good platform. So, choose well.
If you are looking for the best Bitcoin exchange in Istanbul or any other city around the world, you have to make the right choices. This article is an eye-opener to help you make a decision. However, you can also check more information online or consult a professional in cryptocurrency trading to assist you.