Bitcoin was the first digital currency to be introduced and it has gained massive popularity over the years. Despite initial suspicion, many people have embraced it because of the many benefits that it offers.
If you want to know how to buy BTC in Turkey, we have your back as this article highlights the most important things you need to know about buying Bitcoin in Turkey.
Here are some of the key things to have in mind as you buy BTC Turkey:
Set up a secure BTC wallet
Before you acquire Bitcoin, you need to have somewhere secure to keep them. This is the point of choosing a secure wallet as you embark on purchasing BTC in Turkey. The good thing is that you have many options to choose from but it’s up to you to pick the one that suits your needs. Remember that wallets can be web-based (online), apps for your desktop PC or mobile device, or hardware-based (physical gadgets).
Choose a reputable exchange
Another crucial thing to do as you look to buy BTC in Turkey is to identify a reliable exchange that operates legally in the country. When looking for the most suitable crypto exchange, you should consider several things and including:
- compliance with regulations
- speed of transactions
- customer service
- number of digital currencies supported
Create an account
Once you have chosen your preferred exchange, open an account with the exchange. You will need to provide some personal details, such as your name, email address, and phone number. Depending on the exchange you choose to buy BTC in Turkey through, you may need to comply with an identity verification process. This requires you to submit government-issued ID documents such as your passport, ID card, driver’s license, or any other that is acceptable to the platform. Identify verification is a standard practice for the majority of crypto trading platforms, and is also necessary for compliance with the Turkish regulations.
Fund your account
With your account verified, the next step in this process of buying BTC in Turkey is to deposit funds into your account. Normally, you deposit the funds in Turkish Lira or if the platform accepts other fiat currencies like USD you can deposit the funds in your preferred currency. The good thing is that most exchanges provide several ways to deposit funds, including bank transfers, debit /credit cards, etc.
Buy your Bitcoin
When your account is loaded with funds, you can then navigate the platform to locate the trading section. In the section find the BTC/TRY trading pair. The next thing is to place your order for the amount of BTC you want to buy. You may be able to indicate the price at which you want to purchase your BTC in Turkey, or else you can choose to buy at the prevailing market price.
Move your BTC to your wallet
Generally, you’re better off transferring your purchased Bitcoin from the trading platform to your own secure storage or wallet. When you leave your coins on a platform, especially for an extended duration exposes you to various potential security risks.
As you can see, buying BTC in Turkey is not difficult. You need to follow the above steps and you will be able to buy Bitcoin without any hassle. Always exercise caution as you buy BTC including using only reputable platforms, using secure wallets. Also, keep up to date about the latest developments in the crypto world to stay alerted if you need to make quick decisions to sell.
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