Crypto in Turkey: The Ultimate Guide

Turkey is the world’s fourth-largest cryptocurrency market. The majority of Turkish citizens have heard of cryptocurrency, while one in five Turkish citizens holds cryptocurrency

If you’ve ever wondered how to buy Bitcoin (BTC) with Turkish Lira, this is the article for you.

Here Ledger Academy arms you with all the necessary tools and resources to buy, sell and hold crypto and digital assets in Turkey. We’ll also cover the legal status of Bitcoin mining and the tax implications. 

How to Buy Crypto and Bitcoin in Turkey

Here’s a step-by-step guide on how to buy crypto in Turkey.

Step 1: Choose a crypto exchange 

One way of acquiring crypto is to sign up to a dedicated centralized exchange (CEX). If you’re considering how to buy Bitcoin with Turkish Lira (TRY), this is one of your options, although there are alternatives which we cover later in this article.

Popular exchanges in Turkey that facilitate the purchase of BTC and altcoins with TRY include BtcTurk, Paribu, OKX Turkey.

Step 2: Register and complete the KYC process

To purchase crypto or BTC using TRY from your chosen CEX you’ll need to register and complete Know Your Customer (KYC) procedures – a legal necessity.

First, submit your personal information including full name, date of birth, home address and contact details including email and phone number.

You may also need to provide a photo of a recent utility bill or bank statement to prove your address. To confirm your personal identity you must send a photo of your National ID card to the exchange. There is some variation on the procedure depending on the exchange – In some instances your national ID number, address and facial recognition will suffice.

Once your account is approved and activated you will be able to deposit funds, buy, trade and store crypto assets on your chosen exchange. 

Should you ever wish to send cryptos from your personal account to an outside wallet, further KYC checks are mandatory, with the name of the recipient a bare minimum. 

For transactions above 15,000 Turkish Lira further information of the person receiving the crypto is necessary. This may include any one of the following: address, date of birth, customer number, ID number, tax ID number, passport number.

Step 3: Deposit funds

Once you’re signed up the next step is to deposit some money into your account. Depending on the exchange you’ve chosen this may be marked under Wallet, Deposit or Assets.

You can send your Lira via Bank Transfer. For Bank Transfer you’ll need to link your Turkish bank account (Ziraat Bank, IsBank, etc) to your CEX. Your CEX will provide you with an account number and a unique reference number for payment. For some exchanges you need to include a unique reference number when you send your money as this lets the CEX know to credit your account, although this is not universal.

Step 4: Choose the crypto you want to buy

The next step is to buy the coin you want. Popular cryptos include Bitcoin (BTC), Ethereum (ETH) and Solana (SOL) but there are thousands more to choose from. Do your own research and pick the currency that suits you the best.

Securely Store Your Crypto and Bitcoin in Turkey

There are several ways to buy and manage digital assets in Turkey. While using a centralized exchange is one of the most common methods, it’s important to be aware of the associated risks—especially the potential loss of your assets. This is why understanding the importance of self-custody is crucial.

Why self-custody your BTC and Altcoins

Storing large sums of your hard-earned cryptocurrency on an exchange is never recommended because the keys to your wallet are held by the exchange. If the exchange you’ve chosen is hacked or compromised in some other way, you could lose your money.

In June 2024, BtcTurk fell victim to a hack resulting in the loss of $55 million in crypto. BtcTurk paused all deposits and withdrawals, during their investigation into the attack, leaving nervous customers unable to access their money.

In April 2021, Thodex reported it was the victim of a cybercrime, halting all customer withdrawals. It later transpired its CEO, Faruk Fatih Özer, had stolen $2 billion in customer funds and fled the country.

Although these two cases of compromised Turkish exchanges are different in nature, they both point to the same fundamental truth: not your keys, not your coins.

How to self-custody your crypto

With self-custody you hold the private keys to your wallet. Your keys, your coins, your peace of mind.

There are two types of self-custody wallets. 

The first is the software wallet. There are a number of these to choose from including Photon and MetaMask. A software self-custody wallet can be an app or a browser extension, and they are a better option than leaving your coins on an exchange. However it is important to know that  due to the fact they remain connected to the internet they are vulnerable to numerous attack vectors including malware.

The best security option is a hardware wallet, such as the Ledger Stax or Ledger Flex. These wallets store the keys to your cryptocurrency on a dedicated hardware device which is infinitely more secure than anything else.

Manage Crypto in Turkey with direct Self-Custody

Instead of relying on third parties, you can hold your own keys and manage your funds directly. Let’s walk through the steps on how you can do this via Ledger.

Step 1: Set up your Ledger self-custodial wallet

If you’re looking for the safest way to store your crypto, we recommend the Ledger Stax or Ledger Flex. 

You’ll need to initialize your Ledger device once it arrives. Install the Ledger Live app supported on Windows, Mac, Linux, Apple and Android.

Connect your Ledger to your laptop or desktop. Launch Ledger Live then click Get Started followed by Initialize As New Device. You’ll next be prompted to set a PIN for your Ledger wallet and to record your 24 word recovery phrase.

Store your recovery phrase in a safe place. Never record it on an internet-connected device of any kind.

Step 2: Install apps and create accounts

The next step is to start creating your accounts. You can do this for a wide array of cryptocurrencies. Click Portfolio on the left side of your Ledger Live screen and then click Add Account.

Which accounts you add will depend on the cryptos you intend to hold. If you’re interested in Bitcoin then select the Bitcoin app. If you would like to store Solana or any of the many memecoins hosted on the Solana blockchain, choose the Solana app.

Once complete, connect and unlock your Ledger and wait while Ledger Live synchronizes with your device.

Step 3: Manage your  crypto via Ledger Live

With Ledger Live, you have a secure interface to manage all your crypto, all in one place. Ledger Live makes swapping crypto easy with a range of swap providers for those looking to get ahead during quick market movements. 

Ledger’s integrations with top staking providers means you get to stake to earn yield on your digital assets. Staking on Ledger Live is made easier by just selecting your crypto account and dedicating a portion (or all) of the digital asset of choice. Choose between funding validators or go all in solo staking. 

When managing a diverse portfolio, it helps to understand all your investment choices in one place, and Ledger Live’s Earn dashboard makes this an ultra-smooth process. The Earn dashboard is your one-stop shop to track and manage all of your cryptocurrency staking rewards.  

Top Turkish Crypto Exchanges & Apps to Manage BTC and Altcoins in 2025

Next let’s take a look at some of the most popular crypto exchanges and apps in Turkey that allow you to securely manage, and engage with your digital assets.

Ledger Live

• No of currencies: 15,000+
• KYC required: Ledger Live can be used without KYC, but service providers may require KYC information.
• Trading Fees: Ledger Live is free, but network fees will still apply
• Deposit Fees: No
• Withdrawal Fees: No
• Pros: Ledger Live is your one stop shop for purchasing cryptocurrency, allowing you to buy, trade and hold your coins safely and securely.

Bybit

• No of currencies: 100+
• KYC required: Yes
• Trading Fees: 0.1%
• Deposit Fees: 0
• Withdrawal Fees: Varies with network
• Pros: Low fees
• Cons: Advanced features may confuse entry-level users

Paribu

• No of currencies: <200
• KYC required: Yes
• Trading Fees: Variable from 0.1 – 0.35%
• Deposit Fees: 0
• Withdrawal Fees: 3 Lira and up
• Pros: Easy user interface
• Cons: Complex fee structure

OKX Turkey

• No of currencies: 350+
• KYC required: Yes
• Trading Fees: 0.1% or lower
• Deposit Fees: 0
• Withdrawal Fees: 0
• Pros: Low trading fees
• Cons: Minimum withdrawal restrictions

BtcTurk

• No of currencies: 100+
• KYC required: Yes
• Trading Fees: 0.01-0.08%
• Deposit Fees: 0
• Withdrawal Fees: 3 Lira
• Pros: No deposit fees, low withdrawal fees
• Cons: Some recent security issues

Is Crypto Legal in Turkey?

Yes, crypto is legal in Turkey and is regulated by the Capital Markets Board.

Is Crypto Mining Legal in Turkey?

Crypto mining is legal in Turkey, although there is no specific legal or regulatory framework.

How to Mine Bitcoin in Turkey

Crypto mining is the process of using computer hardware to solve complex mathematical problems which secure some blockchain networks including Bitcoin. When the miner or mining pool successfully mines a block they are rewarded in the form of cryptocurrency.

Step 1: Choosing the right hardware

Before you choose your hardware you need to know what cryptocurrency you wish to mine. Some cryptos like Monero can be mined with a common CPU or GPU, but others including Bitcoin are far more intensive and require dedicated miners called ASICs. 

Step 2: Installing and configuring mining software

Mining software again varies depending on what specific blockchain you’ve decided to mine. It’s important to ensure you download software only from official sources to avoid malware and cybersecurity risks.

Step 3: Joining a mining pool

There are a huge number of mining pools to choose from. The most popular pools for Bitcoin are Antpool, F2Pool and ViaBTC although there are many more to choose from.

Ensure whatever pool you join aligns with your aspirations based on size, fees and payout. Once you’re part of a pool you’ll receive a proportional share of the pool’s fees every time the pool successfully mines a block.

Step 4: Setting up a Bitcoin wallet

You’ll need to set a wallet address where your Bitcoin mining rewards can be sent. For best security use a wallet address you set up earlier under the ‘Install Apps and Create Accounts’ process we detailed above.

Crypto Tax in Turkey

As crypto adoption grows, so does the attention from regulators. Understanding the current tax landscape is essential for anyone buying, selling, or holding digital assets in Turkey.

Is crypto taxed in Turkey?

No, crypto is not taxed in Turkey so any profits belong to you alone.

What is the Crypto Tax Rate in Turkey?

As of the publication of this article there are no taxes on crypto profits in Turkey. The regulatory bodies in Turkey have long considered a tax, but have held off on this.

When Does the Crypto Tax Rate Apply in Turkey?

Since there is no crypto tax in Turkey no tax rate applies.

How to Calculate Tax on Crypto in Turkey?

No calculation on tax in Turkey is necessary since there is no tax.

How to Buy NFT in Turkey

Getting started with NFTs in Turkey begins with the basics. Before you can buy or collect NFTs, you’ll need a crypto wallet to store and manage them. Here’s how to begin:

Step 1: Set up a crypto wallet

If you’re seeking to buy Non-Fungible Tokens (NFTs) in Turkey you’ll first need a crypto wallet. We’ve already covered how to do that earlier in this piece. If the NFTs you’re buying are on the Ethereum network you’ll need an Ethereum wallet, if they’re on Solana – you’ve guessed it – you’ll need a Solana wallet.

Step 2: Buy cryptocurrency

Not all NFT marketplaces are created equal. Some use different cryptocurrencies to others. 

OpenSea caters to multiple coins such as Ethereum and Arbitrum. Rarible accepts Tezos, Solana and more. Check your chosen marketplaces for supported coins.

It’s worth noting that some marketplaces will allow you to buy NFTs with a credit or debit card allowing you to purchase with Turkish Lira directly.

Step 3: Choose an NFT marketplace

Every marketplace is different. The one you prefer is down to personal taste. OpenSea, Rarible and SuperRare are popular options.

Step 4: Browse and select an NFT

Once you’ve found a gallery you like, all that remains is to explore, browse and shop. Simply scroll through the images or choose a collection of works that catch your eye. 

Looking for something more specific? Use the search button to find the work you know you want. Once you have the artwork you desire in your sight, click on it, and you will see the options for purchase.

Step 5: Buy or make an offer

Some images will present you with an option to buy. Click Buy and then choose your payment method in crypto.

At other times your chosen piece may already be owned by another collector. In this instance you have the option to place a bid on the piece, but it is entirely up to them whether to part with it. If you really want it, you’ll have to make a very tempting offer.

Conclusion

With the knowledge in this guide you should now be well prepared to make your first foray into crypto. You should also know one of the first rules of blockchain technology – not your keys, not your coins. For safety, always store the keys to your wealth on a dedicated hardware wallet like the Ledger Stax or Ledger Flex. You’d be foolish not to.

Frequently Asked Questions about Crypto in Turkey

Is Bitcoin legal in Turkey?

In Turkey you can buy, trade and own cryptocurrencies legally, but using crypto as a direct means of payment for goods and services is prohibited.

Do you pay tax on crypto in Turkey?

No, you do not pay tax on crypto in Turkey.

Can you mine cryptocurrency in Turkey?

Yes, you are free to indulge in mining activities in Turkey.

What is the best cryptocurrency to invest in Turkey?

The best is subjective matter but some of the leading digital assets include  Bitcoin (BTC), Ethereum (ETH), Solana (SOL) or Sui (SUI).