Paribu Review 2024

Autor

Revisor

Last update: 6 months ago

Our veredict

Paribu is a centralized cryptocurrency exchange based in Turkey, characterized by a user-friendly interface and a strong focus on the Turkish market. It primarily caters to novice traders with its simplified trading functions, supporting a limited number of fiat and cryptocurrency pairs, predominantly with the Turkish Lira. The exchange offers a low entry threshold, which is particularly appealing to beginners looking to dive into the crypto world without a significant initial investment.

However, the limited functionality might deter more experienced traders looking for advanced trading tools and a broader range of crypto-to-crypto trading options. While Paribu does offer some educational resources and guides, the absence of more sophisticated features and the restriction to primarily Turkish users can be seen as drawbacks. Despite these limitations, Paribu maintains a strong reputation within its regional market and provides a secure platform with no reported major security breaches, which is a significant positive aspect for users concerned with the safety of their digital assets.

Pros

Cons

3,7

Threenvest Score

Fees

0,25%/0,35%

U.S Legal

With the confidence of Threenvest

Year Founded: Established in 2017, Paribu has been active for several years, allowing it to develop and refine its security and service offerings.

Number of Users: With over a million active users, Paribu has a significant user base, which underscores its popularity and reliability in the Turkish market.

Security Methods: Paribu prioritizes the security of its users with robust protection measures and has no history of significant security breaches, contributing to its trustworthy reputation.

Regulation: It operates under Turkish financial regulations, ensuring compliance with local laws which provides a layer of security and trust for its users.

Customer Service: Offering 24/7 customer support in Turkish, Paribu ensures that its users have access to help whenever needed, enhancing user satisfaction and trust in the platform.

Best Crypto Exchanges

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About Paribu

Introduction

Paribu is a prominent cryptocurrency exchange based in Turkey, known for its user-friendly approach tailored specifically for beginners. Established in 2017, Paribu has quickly risen to prominence within the Turkish crypto market, emphasizing ease of use and accessibility.

What is Paribu?

Paribu is a centralized cryptocurrency exchange that operates primarily within the Turkish market. It facilitates the trading of cryptocurrencies for Turkish Lira (TRY), providing a gateway for local users to enter the world of digital currencies.

Background and History

Launched in 2017 in Istanbul, Paribu has grown to become one of Turkey’s leading cryptocurrency exchanges. It has experienced significant user growth, attributed to its simplified trading platform and strong focus on complying with local regulations. This focus on regulatory compliance has helped Paribu build trust among its users.

Founders

Paribu was founded by Yasin Oral and other Turkish entrepreneurs who saw an opportunity to make cryptocurrencies more accessible to the Turkish population. Their vision was to create a platform that would bridge the gap between traditional finance and the emerging crypto markets, with an emphasis on security and user experience.

Fun Facts and Interesting Insights:

Paribu was one of the first exchanges in Turkey to provide 24/7 customer support, recognizing the need for continuous access in the volatile crypto market.
The exchange has been involved in various educational initiatives, aiming to increase cryptocurrency literacy in Turkey.
In 2021, Paribu reported having over a million active users, highlighting its significant impact on the Turkish cryptocurrency landscape.

Headlines:

“Paribu Introduces New Crypto-to-Crypto Trading Pairs!”
“Paribu Reaches One Million Users: A Milestone for Turkish Crypto Market!”
“Educational Push: Paribu Launches Free Cryptocurrency Courses for Beginners!”

Why Choose Paribu?

Choosing Paribu as your cryptocurrency exchange offers several compelling advantages, particularly for those based in Turkey or looking to trade in Turkish Lira. Firstly, its user-friendly interface makes it an excellent choice for beginners. The simplicity of the platform allows new users to navigate and trade comfortably without the complexities often found in more advanced trading environments.

Secondly, Paribu’s adherence to local regulations and its robust security measures make it a trustworthy platform. Trading on an exchange that complies with financial regulations provides users with peace of mind, knowing that their investments are handled professionally and securely. This compliance is crucial in a market where regulatory scrutiny is intensifying.

Lastly, the exchange’s strong focus on customer service, with support available 24/7, ensures that users can receive assistance at any time. This is particularly valuable in the crypto market, where timing and swift support can be critical to capitalizing on trading opportunities or resolving issues. These factors make Paribu a solid choice for anyone looking to trade cryptocurrencies, particularly if they are looking for a platform that combines ease of use with reliability and excellent customer support.

Where it falls short

Limited Trading Pairs: Currently, Paribu primarily offers trading pairs between cryptocurrencies and the Turkish Lira (TRY), with limited crypto-to-crypto trading options. This restricts the flexibility for traders looking to engage in more diverse trading strategies that involve multiple cryptocurrencies. Expanding the range of trading pairs to include more crypto-to-crypto options would attract a broader audience, especially seasoned traders who seek more dynamic trading environments.

Advanced Trading Features: Paribu’s platform is very user-friendly, which is excellent for beginners but might be too basic for advanced traders. The inclusion of sophisticated trading tools such as futures, options, and advanced order types could enhance the trading experience for professional traders. These features would allow users to execute more complex strategies and better manage trading risks.

Features	Explanation
Minimum Trade	Paribu allows trading with very low minimum thresholds, making it accessible for beginners and those with limited capital.
Trading and Transaction Fees	Paribu’s fees are slightly above average, but it offers reductions for higher volume traders, balancing cost with trading activity.
Number of Cryptocurrencies	Paribu offers a moderate variety of cryptocurrencies, primarily focusing on major ones, which might limit options for those looking to trade less common coins.
Crypto-to-Crypto Trading Pairs	The platform has limited crypto-to-crypto pairs, focusing mainly on fiat to crypto transactions, which could be a downside for versatile traders.
Website Transparency	The website provides clear information about trading conditions and fees, though some details about governance and operations could be more comprehensive.
Credit/Debit Card	As Paribu focuses primarily on cryptocurrency trading within the Turkish market, the absence of an exchange card limits the utility and flexibility for users seeking integrated financial services like spending crypto directly for purchases or earning rewards. This could be an area for potential development to enhance user engagement and overall platform utility.
Storage Offering	Offers secure storage solutions, but lacks some advanced security features like multi-sig wallets or insurance on assets.
Staking and Rewards	Limited staking options are available, which might not cater to users looking to earn through staking or participation in network security.
Mobile App and Desktop	Both mobile and desktop platforms are user-friendly and well-designed, offering good usability but lacking some advanced trading tools.
Customer Service	Excellent customer service with 24/7 availability and multiple support channels, including direct responses.
Deposit and Withdraw	Offers multiple deposit and withdrawal methods but can improve by adding more international options and reducing fees for certain transactions.

Xavier Tarrasó

EIP and Cryptocurrency Investor

As a seasoned analyst observing the dynamics of cryptocurrency exchanges, I find Paribu particularly noteworthy for investors who prioritize ease of use and are based in Turkey. The exchange’s robust local currency support and user-centric approach make it an appealing platform for beginners. It’s ideal for those seeking to enter the crypto market with a straightforward and secure trading environment. If you are navigating the complex world of cryptocurrencies for the first time, Paribu’s tailored features and strong customer support structure provide a comforting starting point.

Fees

Paribu charges a trading fee structure that is slightly above the industry average, consisting of 0.35% for takers and 0.25% for makers. These fees can be reduced based on trading volume, providing an incentive for active traders. This tiered fee system aligns well with traders who maintain high monthly trade volumes, as they can benefit from reduced costs, lowering the fees to as much as 0.15% for both makers and takers under certain conditions. This approach encourages more trading activity while also supporting both casual and serious traders in managing their trading expenses effectively.

Pros

Volume-based Discounts: Traders can lower their fees to 0.15% by increasing their trading volume, which incentivizes active trading.
Simple Fee Structure: The fee system is straightforward, with only two main rates for takers and makers, making it easy for users to understand.
Fee Reductions Available: The possibility of reducing trading fees through high trading volumes offers a clear path for cost savings for frequent traders.

Cons

Product selection

Paribu offers a focused selection of services and products tailored primarily for the cryptocurrency trading market. This exchange provides a platform where users can trade a variety of cryptocurrencies directly with the Turkish Lira (TRY), making it particularly convenient for users within Turkey. Key features include a straightforward trading interface, integration with secure banking services for deposits and withdrawals, and the ability to trade some of the most popular cryptocurrencies. Paribu’s commitment to security and customer service further enhances its offering, making it a reliable choice for traders seeking a straightforward and secure trading experience within the Turkish market.

Pros

Integration with Turkish Banking Systems: Paribu offers seamless integration with local banking systems, making deposits and withdrawals convenient for Turkish users.
User-Friendly Interface: The platform is designed with beginners in mind, featuring a simple and intuitive interface that lowers the entry barrier for new traders.
24/7 Customer Support: Paribu provides round-the-clock customer support, ensuring that users can get assistance whenever they need it, enhancing the trading experience.

Cons

Limited International Features: While effective for local users, Paribu's services are primarily geared towards the Turkish market, which might not cater to international traders looking for global trading opportunities.
Lack of Advanced Trading Options: The platform lacks more sophisticated trading tools and features, such as advanced charting capabilities and derivatives, which can limit its appeal to more experienced traders.

Read more about product selection in Paribu

Paribu offers a range of services and products designed to cater primarily to the cryptocurrency trading needs of its users, especially those based in Turkey. Here’s an extensive overview of the offerings available on Paribu:

Cryptocurrencies and Trading Pairs

Paribu supports trading in a variety of major cryptocurrencies such as Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), and Litecoin (LTC), among others. Most trading is done against the Turkish Lira (TRY), providing a straightforward entry point for local investors to the crypto market.

Fiat Transactions

Paribu allows users to deposit and withdraw in Turkish Lira, integrating seamlessly with local banks. This feature makes it especially appealing for users who prefer to transact in their national currency without the need to convert to USD or EUR first.

User Interface and Accessibility

The platform’s user interface is designed with simplicity in mind, making it accessible for beginners. The mobile application and desktop version are both designed to ensure a smooth user experience, maintaining consistency across different devices.

Security Features

Paribu places a high emphasis on security, employing state-of-the-art security measures to protect user funds and information. These include two-factor authentication (2FA), cold storage for the majority of funds, and ongoing security audits.

Educational Resources

The platform provides educational resources aimed at helping new users understand cryptocurrency trading. These resources cover basic trading concepts, security best practices, and guides on how to use various features of the exchange.

Customer Support

Paribu offers extensive customer support with options including live chat, email, and a comprehensive FAQ section. Support is provided 24/7, catering to the needs of users across different time zones.

Special Features

Leveraged Trading: While Paribu mainly focuses on spot trading, it offers leveraged trading for selected pairs, allowing users to trade with more than their current balance.
Instant Buy/Sell: Users can quickly trade cryptocurrencies at current market prices, a feature that catifies those looking to execute trades without the complexity of navigating the trading interface.

Financial Products

Staking: Paribu offers staking services for several cryptocurrencies, enabling users to earn rewards on their holdings.
Savings Accounts: Similar to staking, users can earn interest on their cryptocurrency balances by holding them in Paribu’s savings accounts.

Compliance and Regulation

Being a Turkish-based exchange, Paribu complies with local regulations and has established procedures to prevent money laundering and ensure user safety.

Community and Social Engagement

Paribu actively engages with its community through social media and educational events, fostering a sense of community among its users.

Conclusion

Overall, Paribu’s offerings are robust, focusing on providing a secure and user-friendly platform for cryptocurrency traders, especially those new to the space or those trading from Turkey. While it lacks some of the advanced trading tools found on larger international platforms, its localized approach, integration with Turkish financial systems, and dedicated customer support make it an attractive choice for its target audience.

Account opening

The platform requires only a few steps to get started, which involves providing some basic personal information and undergoing a verification process to comply with regulatory requirements. This straightforward approach ensures that even users with minimal technical knowledge can easily set up their account and start trading.

Pros

Quick Setup: The account registration and verification process is designed to be fast and efficient, allowing users to start trading relatively quickly.
Minimal Information Required Initially: Paribu only requires basic personal information to open an account, making the initial signup straightforward and accessible.
Support for Turkish Identification: Specifically tailored for local users, Paribu simplifies the verification process by integrating with Turkish identification systems, streamlining the KYC process for residents.

Cons

Language Barrier: The platform primarily supports Turkish, which might be a limitation for non-Turkish speaking international users who wish to trade on Paribu.
Limited Global Accessibility: Since the service is heavily optimized for Turkish users, international traders might find the account opening process less accommodating if they do not have access to Turkish identification or payment methods.

Read more about account opening in Paribu

The account opening process on Paribu is designed to be straightforward and accessible, particularly for users in Turkey. Here’s a detailed breakdown of the entire process, ensuring clarity for newcomers to the platform.

How to Sign Up on Paribu

1. Opening An Account:

Visit the Paribu website and click on the “Sign Up” button.
Enter your email address and create a secure password.
Agree to the terms and conditions after reading them thoroughly.

2. Verification (KYC) Process:

Complete the KYC (Know Your Customer) process, which is mandatory for all users to enhance security and comply with regulatory requirements.
Upload a government-issued ID and provide personal details such as your full name, date of birth, and residential address.
Verification typically takes a short time, during which Paribu ensures all provided information matches the official documents.

How to Buy Your First Cryptocurrency

1. Depositing Funds:

Once your account is verified, add funds to your account using one of the supported methods, primarily Turkish Lira via bank transfers.
Funds usually appear in your account within a few hours, depending on the bank’s processing time.

2. Buying Cryptocurrency:

Navigate to the trading interface.
Select the cryptocurrency you wish to purchase.
Enter the amount of Turkish Lira you want to spend or the amount of cryptocurrency you wish to buy.
Confirm the transaction details and complete your purchase.

Account Types

Standard Account:

Suitable for most users, offering access to all basic trading features and all supported cryptocurrencies.
No minimum deposit required, making it accessible to beginners.

How to Use Paribu?

1. Navigating the Platform:

Utilize the dashboard to view your balances, active trades, and recent transactions.
Access different market charts to analyze trends and make informed trading decisions.

2. Trading:

Use the “Trade” tab to execute trades. You can place market orders (buy/sell at current market prices) or limit orders (set a price at which you wish to buy/sell).

3. Registration and KYC:

As mentioned, registration involves providing personal information and documents for identity verification to comply with KYC regulations.

This comprehensive guide provides a clear pathway for new users to start their trading journey on Paribu, ensuring a smooth transition from registration to making their first trade.

Security

Paribu places a high priority on security to ensure the safety of its users’ assets and data. The exchange employs a robust security framework that includes cold storage for the majority of funds, two-factor authentication (2FA) for additional account security, and SSL encryption to protect data during transmission. These measures are complemented by regular security audits conducted by independent third parties to identify and mitigate potential vulnerabilities. Paribu’s adherence to stringent local regulations further bolsters its security stance, making it a trusted platform for cryptocurrency traders primarily in Turkey. This focus on comprehensive security measures demonstrates Paribu’s commitment to providing a secure trading environment, aligning with industry best practices to safeguard user interests effectively.

Pros

Comprehensive Security Measures: Paribu employs a variety of security measures, including two-factor authentication, SSL encryption, and cold storage for the majority of user funds. These practices help to safeguard user assets against potential threats.
Regulatory Compliance: Paribu operates in accordance with Turkish financial regulations, providing an added layer of security and legitimacy. Being regulated by the Financial Crimes Investigation Board (MASAK) ensures that Paribu maintains high standards of operational integrity.
Regular Security Audits: The platform undergoes regular security audits by independent third-party services. This not only helps to identify and mitigate potential vulnerabilities but also reassures users about the security of their investments.

Cons

Limited Advanced Security Features: While Paribu provides basic security measures, it may lack some of the more advanced security features found in larger international platforms, such as multi-signature wallets or insurance coverage for user assets.
Focus on a Single Market: Paribu’s primary focus on the Turkish market means its security measures are tailored to meet local regulations and threats. This regional focus might not fully address the global standards and challenges faced by international users or those with diverse trading needs.

Is Paribu Legit?

Paribu is indeed a legitimate exchange, operating under the strict oversight of Turkey’s Financial Crimes Investigation Board (MASAK). This regulatory body ensures that Paribu adheres to financial laws and anti-money laundering (AML) regulations, enhancing its credibility and reliability.

Regulation and Licensing

Paribu complies with all local regulations, which fortifies its operations and instills trust among its users. The exchange’s adherence to these rules ensures that it meets the required standards for financial operations within Turkey.

Is Paribu Safe?

Given its comprehensive security measures, Paribu is considered a safe platform for cryptocurrency transactions. Here’s a breakdown of its security features: 1. Security Methods:

Cold Storage: Most of the platform’s digital assets are stored in cold wallets, which are not connected to the internet, thereby significantly reducing the risk of hacking.
SSL Encryption: Paribu uses SSL (Secure Socket Layer) encryption to protect users’ data during transmission, preventing unauthorized access by cyber attackers.
Two-Factor Authentication (2FA): This additional layer of security requires users to verify their identity using two different methods before accessing their accounts, which protects against unauthorized access.

2. History and Track Record:

Paribu has maintained a clean track record with no significant security breaches reported, which speaks volumes about its security protocols.

Why It Is a Secure Crypto Exchange

1. Ongoing Security Assessments:

Paribu engages in regular security audits and assessments by third-party cybersecurity firms, ensuring that its security measures are always up to date and effective against new threats.

2. Transparency:

The exchange maintains a high level of transparency with users about its security practices and operational status, which is crucial for trust-building.

Conclusion

Overall, Paribu’s commitment to security, coupled with strict regulatory compliance, makes it a secure choice for traders, particularly those based in Turkey. While it remains primarily focused on the Turkish market, its security practices are robust enough to protect its user base effectively. If there are any potential security gaps, they would likely stem from the lack of more sophisticated, global-standard security features, which could be addressed as the platform evolves.

Customer service

Paribu emphasizes exceptional customer service to enhance user satisfaction and ensure efficient platform operation. Available 24/7, their customer support can be accessed via multiple channels including live chat, email, and social media, accommodating users with varying needs and preferences. This approach ensures that both urgent inquiries and detailed issues are addressed promptly and effectively. Paribu’s commitment to customer service is further reflected in its proactive engagement with user feedback and complaints, which are systematically collected and used to continuously improve service quality. The platform also maintains a comprehensive FAQ section and offers educational resources, aiding users in navigating the complexities of cryptocurrency trading more confidently. This robust support system not only underpins Paribu’s reliability as a trading platform but also fosters a loyal user base by prioritizing customer care and responsiveness.

Pros

24/7 Availability: Paribu offers round-the-clock customer support, which is crucial given the global and always-on nature of cryptocurrency trading. This ensures that users can receive assistance regardless of the time or day.
Multiple Communication Channels: Users have various options for contacting support, including live chat, email, and social media, allowing them to choose the most convenient method for their needs.
Comprehensive FAQ Section: Paribu provides an extensive FAQ section that covers a wide range of topics, enabling users to quickly find answers to common questions, which can significantly enhance the user experience and reduce the need for direct contact.

Cons

Language Limitations: While effective for Turkish-speaking users, the platform's customer support might not be as accessible for non-Turkish speakers, which could hinder the experience for international users.
Potential for Delayed Responses: Despite the availability of multiple channels, during peak times or for complex issues, there might be delays in response times, which could lead to frustration among users needing immediate assistance.

Read more about customer service in Paribu

For Paribu’s customer service section, it is crucial to provide a thorough and detailed support structure to address any concerns users may encounter. Here is an extensive overview of what Paribu offers in terms of customer support and how it ensures user satisfaction:

Customer Support

1. Availability:

Paribu offers 24/7 customer support to address the needs of its users at any time. This is particularly important in the volatile crypto market, where timing can be critical.

2. Methods of Contact:

Live Chat: For immediate assistance, users can utilize the live chat feature available on the platform.
Email: For more detailed inquiries that may require thorough explanations or documentation, users can contact Paribu via email.
Phone Support: While not commonly offered for every issue, phone support is available for urgent or complex issues that require verbal communication.
Social Media: Users can also reach out via Paribu’s official social media channels, which are regularly monitored.

3. Response Time:

Paribu aims to respond to queries as quickly as possible. Live chat responses are typically immediate, while emails may take up to 24 hours depending on the complexity of the issue.

Reputation and Customer Feedback

1. User Reviews:

Paribu actively encourages user feedback to gauge satisfaction and improve services. Reviews are collected through various channels, including direct surveys and external review sites.

2. Complaint Resolution:

The platform maintains a dedicated team to handle complaints and resolve issues effectively. This team follows a structured protocol to ensure that all grievances are addressed in a timely and fair manner.

Training and Quality Assurance

1. Staff Training:

Customer support representatives at Paribu undergo rigorous training to handle a wide range of issues. This training includes technical troubleshooting, communication skills, and a deep understanding of the cryptocurrency market.

2. Quality Assurance:

Regular audits and quality checks are conducted to ensure that all customer interactions meet the high standards set by Paribu. Feedback from these evaluations is used to continuously improve service quality.

Additional Support Features

1. Help Center:

Paribu provides a comprehensive Help Center that includes articles, guides, and answers to frequently asked questions. This resource is designed to help users self-serve common problems and learn more about the platform’s features.

2. Educational Resources:

Apart from troubleshooting and transactional support, Paribu offers educational resources to help users understand the complexities of cryptocurrency trading, enhancing their trading skills and knowledge.

Conclusion

By offering a multifaceted customer service structure, Paribu ensures that all users, regardless of their experience level, receive the support they need to trade confidently and efficiently. This commitment to excellent customer service is crucial in maintaining a loyal user base and attracting new customers in the competitive cryptocurrency exchange market.

Is paribu Right for You?

Focus on Turkish Market: Paribu is particularly well-suited for users based in Turkey or those who frequently trade in Turkish Lira (TRY). The platform offers seamless integration with local banks, and its services are tailored to comply with Turkish regulations. If you are a trader looking for an exchange that provides strong support for transactions in TRY and is well-versed in the local regulatory environment, Paribu could be a great choice.
Ease of Use for Beginners: If you are new to cryptocurrency trading, Paribu’s user-friendly interface makes it an appealing choice. The platform is designed to be straightforward, minimizing the learning curve for new traders. Additionally, Paribu provides educational resources that can help beginners understand the basics of cryptocurrency trading, making it easier to get started.
Limited Advanced Trading Options: For more experienced traders or those looking for advanced trading tools and a wide variety of trading pairs, Paribu might not meet all your needs. The exchange primarily focuses on the basics and caters to a more general audience. If your trading strategy involves complex instruments or requires access to a broad spectrum of crypto-to-crypto trading pairs, you might find Paribu’s offerings somewhat restrictive.

These points should help you assess whether Paribu aligns with your trading needs and preferences, depending on your location, experience level, and trading requirements.

Paribu compared to other crypto exchanges

Threenvest score

3,7

Fees

0,25%/0,35%

US Legal

Security

High 4,6/5

On the exhange website

Threenvest score

4,9

Fees

0,20%/0,40%

US Legal

Yes

Security

High 4,9/5

bitpanda

Threenvest score

4,8

Fees

US Legal

Security

High 4,9/5

Available cryptocurrencies and countries available

Available Cryptocurrencies

Paribu supports a range of popular cryptocurrencies that cater to the needs of both beginners and experienced traders. Some of the main cryptocurrencies available include:

Bitcoin (BTC): The first and most widely recognized cryptocurrency.
Ethereum (ETH): Known for its smart contract functionality.
Ripple (XRP): Popular for its digital payment protocol more than its cryptocurrency.
Litecoin (LTC): Appreciated for its fast transaction times.
Cardano (ADA): Known for its proof-of-stake validation.

These options provide a solid foundation for trading, giving users access to some of the most influential and established cryptocurrencies in the market.

Notably Unavailable Cryptocurrencies

Despite its robust offerings, Paribu does not currently support several other major cryptocurrencies that might be available on more internationally focused exchanges. Notable absences include:

Polkadot (DOT)
Chainlink (LINK)
Solana (SOL)

These cryptocurrencies are recognized for their innovative technologies and broad market impact, and their absence might be felt by users looking for diverse trading portfolios.

Available Countries

Paribu primarily serves users in Turkey, offering services that are fully compliant with Turkish regulations. This local focus ensures that the platform is highly tailored to meet the needs and preferences of Turkish users, including support for transactions in Turkish Lira (TRY).

Restricted Countries

While Paribu is an excellent platform for Turkish residents, it has significant geographical limitations regarding international availability. Some important countries where Paribu does not offer services include:

United States (US)
Canada
Japan

These restrictions are often due to the complex and varying regulatory environments in these countries, which make it challenging for regionally-focused exchanges like Paribu to operate.

Conclusion

Paribu offers a selection of popular cryptocurrencies tailored to the Turkish market, making it a preferred choice for users in that region. However, its offerings might be limited for those looking for a broader range of crypto assets or traders outside of Turkey due to regulatory restrictions. As such, while Paribu is ideal for its target market, international users and those looking for advanced trading options might need to consider other platforms to meet their trading needs.

Main cryptocurrencies available

Bitcoin (BTC)
Ethereum (ETH)
Ripple (XRP)
Litecoin (LTC)
Cardano (ADA)
Tether (USDT)
Chainlink (LINK)
Polkadot (DOT)
Solana (SOL)
Avalanche (AVAX)

Main countries where you can open an account

Turkey

FAQs

1. What is Paribu?

Paribu is a leading cryptocurrency exchange based in Turkey, designed to provide a user-friendly platform for buying, selling, and trading cryptocurrencies primarily against the Turkish Lira (TRY). Established in 2017, it caters mainly to Turkish residents, offering them a secure and regulated environment for cryptocurrency transactions.

2. Which cryptocurrencies can I trade on Paribu?

Paribu offers a selection of major cryptocurrencies for trading, including Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), Litecoin (LTC), and Cardano (ADA), among others. The exchange continuously evaluates and updates its cryptocurrency offerings based on market trends and user demand.

3. Can I use Paribu if I am not in Turkey?

Paribu is primarily focused on serving residents of Turkey and operates under Turkish regulations. If you are not residing in Turkey, it is recommended to check with Paribu’s customer support or review the terms of service to understand the current geographical restrictions and service availability.

4. How do I fund my Paribu account?

You can fund your Paribu account via bank transfers or by depositing cryptocurrencies. For bank transfers, simply link your Turkish bank account and transfer funds directly. For crypto deposits, you can send your cryptocurrency from an external wallet to your Paribu wallet using the deposit addresses provided within your account dashboard.

5. What security measures does Paribu employ to protect user accounts?

Paribu prioritizes user security through various measures including two-factor authentication (2FA), SSL encryption, and cold storage of the majority of user funds. Regular security audits are performed to ensure that the platform adheres to high security standards.

6. Are there any fees for trading on Paribu?

Yes, Paribu charges trading fees which vary based on whether you are a maker or a taker. The standard fee for takers is slightly above the industry average, but active traders can benefit from lower fees through higher monthly trading volumes.

7. How can I reach customer support if I encounter an issue?

Paribu offers several ways to reach customer support, including 24/7 live chat, email, and social media channels. For immediate assistance, the live chat is highly recommended. For less urgent queries, you can send an email or reach out via Paribu’s official social media accounts.

Final opinion on Paribu

At Threenvest, we understand that choosing the right cryptocurrency exchange is crucial for both novice and experienced traders. Paribu stands out in the Turkish market as a robust platform, predominantly serving local traders with an emphasis on compliance and user security. It excels in providing a seamless trading experience by integrating with local banking systems and supporting the Turkish Lira, which significantly simplifies the crypto trading process for its primary user base. Additionally, Paribu’s commitment to user security through stringent measures, including two-factor authentication and cold storage of assets, positions it as a trustworthy platform in the region.

However, compared to larger international platforms, Paribu has its limitations, particularly in its range of supported cryptocurrencies and advanced trading features. The exchange offers a basic set of tools and a limited selection of crypto-to-crypto trading pairs, which might not satisfy traders looking for more comprehensive trading options or those interested in less mainstream cryptocurrencies. Nonetheless, for our clients at Threenvest seeking a straightforward, secure entry point into the world of cryptocurrency within Turkey, Paribu provides a solid foundation. Its focus on regulatory compliance and local market dynamics makes it an excellent choice for those who prioritize ease of use and security over a broader global trading scope.

How do we review crypto exchanges?

At Threenvest, we conduct a thorough review process to evaluate and rank the world’s leading crypto exchanges. Our goal is to offer an unbiased assessment, providing you with the information you need to make informed decisions on which ones best suit your needs. We strictly adhere to the guidelines of our editorial policy.

We collect data directly from exchanges through detailed questionnaires and conduct first-hand testing and observations during crypto exchange demonstrations. Questionnaire responses, combined with demonstrations and hands-on research from our experts, feed into our proprietary evaluation process that scores each provider’s performance on more than 15 factors. The end result produces star ratings ranging from poor (one star) to excellent (five stars).

For more details on the categories considered when rating brokers and our process, read our full methodology.

Risk Disclaimer

Investing in cryptocurrencies is very risky, you should only invest the money you are willing to lose. Also you should not expect to be protected if something goes wrong.

Neither Threenvest, nor the author, are recommending you to invest with this article.

Alejandro Borja Fuentes

Economist | Cryptocurrency exchange analyst

The author of the review

Alejandro Borja is an accomplished economist with a distinguished career spanning various facets of the financial industry. His academic journey began with a degree in Economics, laying the foundation for his deep understanding of financial markets.

Over the years, Alejandro has honed his skills by working with some of the largest financial media outlets, analyzing and reporting on economic trends and investment opportunities. His expertise in financial analysis has made him a respected voice in the economic community.