How to Buy Crypto in Turkey

The adoption of cryptocurrencies is growing and becoming one of the most discussed topics in Turkey. With high inflation and constant fluctuations in the Turkish lira, many residents have begun to look for alternative ways to preserve and grow their capital. According to Chainalysis, Turkey ranks 11th in the global ranking of countries implementing cryptocurrencies. Bitcoin, Ethereum, and other digital assets are seen as a way to protect savings while remaining part of the global financial trend.

But how exactly can you buy cryptocurrency in Turkey? In this article, we have prepared a detailed analysis of the topic for you, including methods and guides for buying crypto, taking into account regulatory aspects.

Is It Legal to Buy Cryptocurrencies in Turkey?

Yes, it is legal to buy, sell, and store cryptocurrency in Turkey. This includes the legal use of digital wallets for storage. However, it is worth remembering that since April 2021, cryptocurrency in Turkey has been classified as a digital asset rather than a currency and is not recognized as a legal means of payment, which means that crypto cannot be legally used to pay for goods and services.

As for trading, it is also completely legal provided that the exchange complies with the rules established by the Financial Crimes Investigation Board, or MASAK (Mali Suçları Araştırma Kurulu). To operate within the legal framework, exchanges must comply with strict Know Your Customer (KYC) and Anti-Money Laundering (AML) rules.

Ways to Buy Crypto in Turkey

There are various ways to purchase cryptocurrency in Turkey. Each has its own advantages and limitations. We suggest that you familiarize yourself with each option so that you can choose the one that is most convenient and suitable for your circumstances.

Bank Cards via the On-ramp Function

Some exchanges cooperate with services that offer an on-ramp function, which allows you to quickly and easily convert fiat (traditional currencies such as the lira or dollar) into crypto using a bank card. Some banks in Turkey support cryptocurrency transactions. For example, TL (Turkish Lira) can be transferred to exchanges through banks such as Garanti BBVA. However, it is recommended that you familiarize yourself with your bank's policy before making a purchase.

An excellent exchange option is Cryptomus, which cooperates with the Mercuryo service, offering onramp and supporting TRY as a fiat currency. A little later, we will tell you in more detail how you can quickly and easily exchange fiat for crypto using a bank card.

Pros:

• simplicity, as transactions can be completed in just a few clicks; high speed;

• availability of various payment options.

Cons:

• high commission rate;

• possible limits on card transactions depending on the bank.

P2P Trading

P2P (Peer-to-Peer) trading is a way to buy and sell cryptocurrency where users agree on the terms of the deal directly with each other. This purchasing method is very convenient and simple; to buy via P2P, you just need to fill in a few lines of data and set up filters. P2P is popular because it allows using local payment methods like bank transfers, Papara, or even cash deals without going through centralized exchanges.

Pros:

• many payment methods available;

• high liquidity;

• you can negotiate a favorable exchange rate.

Cons:

• transaction speed depends on the other party;

• there is a risk of fraud, so it is important to use platforms with escrow.

Centralized Exchanges (CEX)

CEX (Centralized Exchange) is a cryptocurrency trading platform that acts as an intermediary between buyers and sellers. A popular example is BtcTurk, the first cryptocurrency exchange in Turkey, founded in 2013. It is known as the fourth oldest crypto exchange in the world.

Pros:

• high liquidity and fast order execution;

• the ability to store assets directly on the exchange.

Cons:

• withdrawal fees.

Offline Stores

These are offline locations in major cities (such as Istanbul or Ankara) where you can buy or sell cryptocurrency for cash in TRY or by bank transfer. Essentially, these are crypto stores that operate like cash currency exchanges but specialize only in digital assets.

Pros:

• convenient for those who prefer cash;

• speed, that you buy and they immediately send the crypto to your wallet;

• safety, as the probability of fraud is low when purchasing offline.

Cons:

• the exchange rate may be higher than on the exchange;

• you may receive dirty, illegal money in your wallet, which may subsequently be blocked on the exchange;

• such stores are not available in all cities.

Crypto ATMs

Cryptocurrency (or Bitcoin) ATMs are special machines where you can buy cryptocurrency with cash or a bank card. Some ATMs also allow you to sell cryptocurrency and receive lira.

Pros:

• quick and easy, no account or complicated registration required;

• convenient for those who prefer cash;

• transparent process—the exchange rate and commission are immediately visible.

Cons:

• limited selection of coins (usually BTC, ETH, USDT);

• small number of ATMs, mainly in Istanbul and tourist areas;

• purchase limits (often no more than 10,000 liras at a time).

Well, we have taken a detailed look at the most popular methods of buying cryptocurrencies in Turkey. Now that you have chosen the most suitable method, you can read the detailed guide below that we have prepared for you.

Step-By-Step Guide: How to Buy Cryptocurrency in Turkey

To make buying cryptocurrency in Turkey hassle-free, we have prepared a comprehensive and detailed guide to do it. Follow each step to achieve your goal:

Method 1: Purchase on the Platform

• Step 1: Register on the platform.
• Step 2: Complete KYC verification.
• Step 3: Choose the most convenient way to buy cryptocurrency.

If you are purchasing through P2P, set the necessary filters and then select the appropriate advertisement. If you buy through CEX, top up your account with Turkish lira and then buy cryptocurrency.

Step 1: Register on the Platform

Choose the cryptocurrency platform that suits you best and register. The process usually requires entering your name and a phone number or email and will only take a few minutes.

Pay attention to legal requirements: as we mentioned earlier, in order to trade legally, the exchange must comply with AML and support the KYC procedure. Also, at this stage, set a strong password and enable two-factor authentication (2FA) to protect your data and money from being hacked by fraudsters.

Step 2: Complete KYC Verification

After registration, you need to complete KYC verification. This will give you access to financial transactions on the platform. Usually, the “KYC Verification” item is located in the settings. To confirm your identity, you will first need to take a selfie and then photograph your ID document. Next, upload both files to the platform. Wait for confirmation of the procedure from the moderator.

Step 3: Choose The Most Convenient Way to Buy Cryptocurrency

P2P platform

To make a purchase on your chosen cryptocurrency exchange, first set the necessary filters: the amount of cryptocurrency you want, the fiat currency (e.g., lira) you are willing to spend on the purchase, and the most convenient payment method.

For example, the Cryptomus P2P exchange can be an excellent option. The platform supports more than 120 crypto coins, 40 fiat currencies, and more than 560 payment methods. And these numbers are growing! An excellent bonus is a commission of only 0.1%.

After setting up the filters, you will see a list of offers from sellers. Choose the most suitable one and contact the potential trading partner to discuss the details. We recommend that you only trade with verified sellers to minimize the risk of fraud. If you don't find a suitable offer in the list, create your own advertisement and wait for a response.

CEX

After registering and passing KYC verification, you need to fund your account. You can do this via bank transfer. Next, once the money is in your account, buy the cryptocurrency. To do it, select the desired cryptocurrency and specify the amount you want to purchase. Then, enter your card details and confirm the purchase using the 2FA code.

If you prefer to buy cryptocurrency offline, the following options are perfect for you.

Method 2: Crypto ATMs

Step-by-step guide on how to buy cryptocurrency in Turkey using a crypto ATM:

1. Go to the device and select the desired cryptocurrency from the menu (for example, BTC or USDT).
2. Specify the purchase amount in Turkish lira (TRY).
3. Scan the QR code from your cryptocurrency wallet—the funds will be sent to it.
4. Insert cash or pay by card.
5. Confirm the transaction on the ATM screen.
6. Wait for the transaction to complete—the cryptocurrency will be credited to your wallet within a few minutes.

Method 3: Offline Stores

If you prefer to buy cryptocurrency in offline or over-the-counter stores, simply choose a secure and trusted store in one of Turkey's locations. Come in, and the salesperson will advise you on the transaction. Before buying, be sure to check the exchange rate of the desired cryptocurrency to get the best deal. To make a purchase, you will need to give the seller your crypto wallet address so that they can scan it, hand over the cash, and wait for the crypto to arrive.

Simple Way to Buy Crypto With Your Credit Card

If you are looking for the easiest way to buy cryptocurrencies, use your bank card. The process is as follows (with Cryptomus as an example).

Step 1: Register on the Cryptomus Platform

The registration process will take you just a few minutes, as you can log in using the most convenient method, including Telegram, Facebook, or Google. At this stage, enable 2FA to protect your data and money from potential hacking by fraudsters.

Step 2: Complete the KYC Verification

This will allow you to access financial transactions within the platform. To complete verification, go to the “Settings” section. Then click on the KYC verification button, which is the third item in the list. Take a photo of your ID and take a selfie, then upload these files to the platform. This procedure allows the platform to verify that you are a real person and confirm your identity.

Step 3: Navigate Back to the Dashboard and Select "Receive"

Enter all of your information, including the network you want to use and the cryptocurrency you plan to purchase. Then, when purchasing any crypto using a debit or credit card, select "Fiat" as the type of receive option.

Step 4: Fill in the Details

Select "Receive via Mercuryo", then enter the amount you wish to pay in the preferred currency. The receiving amount of crypto will be automatically calculated in the payment form.

Step 5: Confirm Your Purchase

Input your debit or credit card information to complete the transaction and provide your email address to receive a verification code.

Excellent work! You just made a trouble-free card purchase of cryptocurrencies. The funds will be credited to your personal wallet soon!

Do You Have to Pay Taxes on Cryptocurrency Investments?

At the time of writing, there is no separate tax on cryptocurrency income in the country. However, the government is discussing the introduction of a tax on transactions when buying and selling crypto assets, so we recommend keeping an eye on the news.

Buying cryptocurrency today is easy and legal. Turkey's approach to cryptocurrency regulation can best be described as striking a balance between financial integrity and innovation. Local exchanges such as Cryptomus, BtcTurk and Paribu provide quick access to the market, while P2P offers flexibility and allows you to purchase Bitcoin or Ethereum in just a couple of minutes by paying with a card in liras.

The main thing is to choose reliable platforms, such as Cryptomus!

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