Binance TR Exchange Review
Binance TR is a centralized exchange that occupies #21 on Guru InvestingExchange Tracker. Binance TR has trading volume US$397,883,855 in the last 24 hours and US$112,117,493,749 in the last 7 days.
Binance TR currently has 167 cryptocurrencies, 1 paper currencies and 191 markets (cryptocurrency trading pairs). The most popular trading pair on Binance TR is USDT/TRY.
Compare Binance TR next to other exchanges here: Exchange comparison tool.
Binance TR is the version Binance centralized cryptocurrency exchange (CEX) for clients from Turkey. It offers spot market trading, deposits and withdrawals, and direct cryptocurrency purchases. Binance TR cryptocurrency exchange is KYC compliant. It is available on desktop and mobile devices.
Markets
Cryptocurrency exchange Binance TR offers similar services for the global platform, as well as its other local iterations. Trades are carried out using a matching mechanism. In addition, the native token, BNB, may provide discounts on Binance TR exchange fees. Other available discounts can be obtained through the referral program.
Binance TR spot trading supports three key markets:
- Crypto Turkish Lira (TRY)
- CryptoTether (U.S. dollar)
- CryptoUS dollar coin (USD)
The Turkish Lira is the only fiat currency supported on the platform.. All Binance TR cryptocurrency prices are quoted in TRY. The main customer base is in Turkey. Derivatives trading is not available. Due to financial regulations, fewer Binance TR trading pairs are available compared to the international platform or Binance.US.
Binance TR cryptocurrency fees differ for TRY-crypto pairs and crypto-crypto pairs. All bets follow the producer-receiver model. TRY-crypto is used in pairs multi-level rating system:
- Bronze
- Silver
- Gold
- Platinum
- Diamond
The TRY pair’s valuation is determined by Binance TR’s 30-day trading volume. The bronze level requires a volume of up to 1 million Turkish lira. Maker-taker fees are 0.1% each. However, the rate can be reduced to 0.0675% using BNB and referral bonuses.
The maker’s commission is gradually decreasing. The taker commission rate is fixed at 0.1% at all levels. At the Silver level, the required Binance TR volume is between 1 and 5 million Turkish lira. The maker’s commission is 0.09%. Upon reaching the gold level (volume of 5–10 million Turkish lira), the maker fee is 0.08% and decreases to 0.04% and 0.02% for Platinum and Diamond respectively.
Crypto-crypto pairs on the Binance TR crypto exchange use multi-level VIP payment system. As with TRY-crypto pairings, clients can receive discounts on fees if they own BNB tokens or participate in the referral program.
The VIP program consists of 10 levels, from VIP 0 to VIP 9. The Binance TR 30-day volume is calculated using Bitcoin (BTC). At VIP levels 0–3, the taker commission rate is 0.1% and gradually decreases at other levels.
With VIP 0, the required trading volume is up to 50 BTC, and the maker-taker commission is the same – 0.1% each. Taking into account additional discounts, it can be reduced to 0.0675%.
VIP level 4 requires a trading volume of at least 4500 BTC. Maker-taker fees are 0.07% and 0.09% respectively. On VIP 9, trading volume exceeds 150,000 BTC, and the required fees are 0.02% for makers and 0.04% for takers.
All TRY deposits and withdrawals are free. Users can also withdraw funds between Binance.com and Binance TR without additional fees. Due to network congestion, the price of Binance TR cryptocurrency for other withdrawals may be affected.
Deposits for other crypto assets are not subject to any Binance TR exchange fees. The withdrawal fee depends on the asset. All rates are flexible and may be adjusted periodically.
About company
Binance Global was founded Changpeng “CZ” Zhao and Yi He in 2017. The Turkish platform was created three years later, in 2020, to support cryptocurrency trading for the Turkish Lira. Managed by BN Teknoloji AS. Binance TR is headquartered in Istanbul.
Binance TR cryptocurrency exchange has become sixth local platform Binance launched. Turkey was chosen as a market for expansion due to its high level of cryptocurrency adoption. According to 2019 data, about 16% of Turkish citizens either purchased or used cryptocurrencies and other digital assets.
In 2022, Turkey’s first 24-hour customer support center was opened. A few months later, following an increase in fraudulent billboards using the company’s name, cryptocurrency exchange Binance TR issued an official warning and threatened legal action.
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A cryptocurrency exchange is an online platform where you can buy, sell, or trade cryptocurrencies like Bitcoin, Ethereum, and others.
Safety varies by exchange. Look for platforms with strong security measures, like two-factor authentication and cold storage for funds.
Consider factors like security, fees, available coins, user interface, and customer support.
Centralized exchanges are managed by a company, while decentralized exchanges operate without a central authority.
Many exchanges require Know Your Customer (KYC) verification for security and regulatory compliance.
Trading fees vary but typically include maker fees (for adding liquidity) and taker fees (for removing liquidity).
Yes, most exchanges offer cryptocurrency-to-cryptocurrency trading pairs.
Withdrawal times depend on the exchange and the cryptocurrency. Some are instant, while others may take hours or even days.
A wallet address is like a bank account number for cryptocurrencies. It’s required to send your crypto to the right place.
Yes, depending on your country’s tax laws, trading cryptocurrencies may have tax consequences. Consult a tax professional for guidance.
Yes, many cryptocurrency exchanges operate 24/7, allowing you to trade at any time.
A market order buys or sells at the current market price, while a limit order sets a specific price at which you want to buy or sell.
Yes, each exchange sets its own minimum and maximum trading limits, which can vary widely.
It’s not recommended. For security, it’s better to use a cryptocurrency wallet, especially for significant holdings.
Exchanges typically have account recovery processes, including password reset options and support for forgotten usernames.
Some exchanges offer insurance, but coverage can be limited. It’s essential to check an exchange’s insurance policy.
Use strong passwords, enable two-factor authentication, and be cautious of phishing scams and suspicious emails.
Yes, but it’s recommended to learn the basics of trading and understand the risks involved before you start.
Stablecoins are cryptocurrencies pegged to the value of a fiat currency like the US dollar. They provide stability and are commonly used for trading and transferring funds on exchanges.
Yes, regulations vary by country. Many countries have implemented or are considering regulations to govern cryptocurrency exchanges for consumer protection and financial stability.
