BTCTurk Exchange Review

BTCTurk is the 1st out of 5 cryptocurrency exchange platforms in Turkey and the 4th in the world, started its operations on 1st July 2013 and it has over 560,000 users, more than 90,000 of these being active. In 2018, Ozgur Guneri became the CEO by buying out 95% of the company from the former CEO Ozan Yurtseven, enlarging the company to nearly 100 employees.
BTCTurk exchange offers several cryptocurrencies for Turkish lira. Those cryptocurrencies include the few of the most popular ones which are Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), Litecoin (LTC), Tether (USDT), and Stellar Lumens (XLM).
There are several features displayed on the homepage that might attract users, which are 2-factor authentication for security reasons, use of SegWit for blockchain size arrangements, BTCTurk API for managing buying and selling options, and hardware storage of 95% of the client funds in offline multi-signature while having geographically distributed backups. For increasing security, BTCTurk asks for valid identification such as an ID document and proof of address. It doesn’t allow for anonymity. It also suggests a security image special for each customer. Plus, BTCTurk has its own mobile app, which makes it easier for its user to manage their accounts. There is no leveraged trading offered in the platform, so it’s not for someone who is looking to trade CDFs. Also, there is no regulation. Payments with credit card, PayPal and cash deposits are not accepted.
Regarding the fees, BTCTurk has reasonable commission fees which become more favorable as the trading volume of the user increases. However, there is a minimum deposit and withdrawal amount (1000 TRY) via bank transfer. There is a very small limit for instant transfers, which is 10 TRY.

About the CEO of BTCTurk

The new CEO of BTCTurk, Ozgur Guneri has been in the financial sector for quite a long time, starting from 2000. From 2000 to 2013, he achieved the titles of Vice General Manager, Chief Investment Officer, General Manager, and a board member in Finansbank Group. He managed the team of a 1st stock investment fund of Turkey and of developing European countries. Between 2013 and 2018, he has been the CEO of Finansinvest. Alongside his present job, he is also a CEO in BtcTrader, which is a company that develops technologies around blockchain and cryptocurrencies. He did his MBA in London Business School.