Cryptocurrency is a relatively new concept in the financial world where virtual currencies are transacted online. This is called crypto trading, which is basically buying and selling various digital currencies such as Bitcoin, Ethereum, Ripple, Dogecoin, USDT, and many others. Many people in Turkey are interested in becoming crypto investors making the a lucrative for service providers. This means it is easy to buy crypto in Turkey even as a beginner.
If you are interested in buying your first coins, you need to know the right steps to avoid costly mistakes in the volatile crypto market. With that said, we will dive into the process.
Create a Crypto Wallet
Before you buy crypto in Turkey, whether it is Bitcoin, Tether, Binance coin, or any other, you must have a crypto wallet. A crypto wallet is a folder or physical device where you store your digital coins once you buy them.
To create a secure and easily accessible wallet, you need a reputable host. Turkey has many crypto wallet hosts and all you need to do is choose one that suits your needs.
Choose a Crypto Exchange in Turkey
The most important step is to choose the platform in which you are going to buy crypto in Turkey. Some of the crypto exchanges are customized for local use while others are international.
While choosing your preferred crypto exchange, consider the reputation, security, accessibility, and affordability. Some exchanges are online while others are offline, so you need to pick one that is suitable for you.
Set Up a Cryptocurrency Exchange Account
Once you have chosen the right exchange to buy crypto in Turkey, you need to set up an account and verify all the personal information in accordance with the “know your customer” (KYC) protocols as requested by the platform.
The procedure of setting up the account might differ from one platform to another, so pay close attention to the details.
Load Your Account with Enough Money
At this point, your account will need funds to facilitate the crypto-buying process. You can load fiat money in Turkish Lira, US dollar, or any other accepted cryptocurrency. To do this, you might need to synchronize your account with your bank account, or mobile money folder, or use any other accepted option.
Buy Your Preferred Crypto Coin
Once you are ready to buy, just follow the procedure set by the platform. Some are short and straightforward while others involve detailed steps. The most important thing is to verify all details such as the number of digital coins that you want to buy, the commission charged by the exchange, and other factors. In the end, you need to confirm that the transaction has been a success.
Transfer Your Crypto Into Your Wallet
The final step to successfully buy crypto in Turkey is to transfer your digital coins from the exchange wallet to your secure wallet. You can do this in easy steps given by the platform or automatically by syncing your platform with your digital wallet.
As you can see, it is easy to buy crypto in Turkey if you have the right information. Fortunately, you’ve just read about it. Now that you know, it is time to make your first crypto investment like a pro.