Binance TR is the largest cryptocurrency exchange in Turkey and one of the top 15 platforms in the world. The company has a 5-level [Bronze, Silver, Gold, Platinum, Diamond] fee structure for TRY-crypto pairs, ranging from 0.1% to 0.02% for the maker.
The mentioned system decreases the commission based on the trading volume in the last 30 days, in the range of 0 to more than 50M TRY.
Company Details and Licenses
Binance TR, established in September 2020, has quickly positioned itself as Turkey's premier crypto asset service provider. Here are the key points about the company:
- Legal Name: BİNANCE TURKEY KRİPTO VARLIK ALIM SATIM PLATFORMU A.Ş.;
- Responsible Person: Mücahit Dönmez;
- Company Registration Number: 221729-5.
Based on our investigations, the company is not currently supervised by any authorities, similar to many other Crypto Exchanges. The exchange is registered in Istanbul, Turkey, and is headquartered at: Özdilek River Plaza Wyndham Grand Blok 13/32 Esentepe Mah. Bahar Sok. Şişli / İstanbul.
Key Features and Details
Similar to our other reviews on the website, we will provide a summary of key specifications regarding the company's services in this section:
Exchange | Binance TR |
Launch Date | 2020 |
Levels | Level 1, Level 2, Level 3 |
Trading Fees | Max. 0.1% |
Restricted Countries | Limited to Turkey |
Supported Coins | +200 |
Futures Trading | No |
Minimum Deposit | N/A |
Deposit Methods | Bank Transfers, Crypto Transactions |
Withdrawal Methods | Bank Transfers, Crypto Transactions |
Maximum Leverage | N/A |
Minimum Trade Amount | Not Specified |
Security Factors | ISO 27001, ISO 27701 |
Services | Staking, Auto-Invest |
Customer Support Ways | Live Chat, Email, Phone Call |
Customer Support Hours | Not Specified |
Fiat Deposit | Yes |
Affiliate Program | No |
Orders Execution | Not Specified |
Native Token | None |
Exchange Benefits and Drawbacks
To provide a balanced view, let's examine the significant pros and notable cons of trading on Binance TR:
Benefits | Drawbacks |
Multiple Trading Options | Relatively Limited Range of Available Cryptocurrencies |
Additional Services Like Auto-Invest and Staking | - |
Competitive Trading Fees, Among The Lowest In The Industry | - |
User Levels Structure
Usually, cryptocurrency exchanges define various levels for user verification. Binance TR follows the same rule with 3 levels of identity verification:
- Level 1: TRY deposits and withdrawals with access to all features;
- Level 2: Ability to transfer funds between Binance and Binance TR account;
- Level 3: Higher maximum level of withdrawal amounts.
Commissions and Fees Structure and Rules
Binance TR implements a multi-tiered fee structure that varies between TRY-crypto pairs and crypto-crypto pairs. Here's a lowdown on each model. Fees for TRY-Crypto:
Level | 30d Trading Volume (TRY) | Fee (Maker/Taker) |
Bronze | 0 - 1,000,000 | 0.1% / 0.15% |
Silver | 1,000,000 - 5,000,000 | 0.09% / 0.15% |
Gold | 5,000,000 - 10,000,000 | 0.08% / 0.15% |
Platinum | 10,000,000 - 50,000,000 | 0.04% / 0.15% |
Diamond | +50,000,000 | 0.02% / 0.1% |
Crypto-Crypto Pair Pricing
Level | 30d Trading Volume (USD) | Fee (Maker/Taker) |
VIP 0 | Less Than 1,000,000 | 0.1000% / 0.1000% |
VIP 1 | Equal or More Than 1,000,000 | 0.0900% / 0.1000% |
VIP 2 | 5,000,000 | 0.0800% / 0.1000% |
VIP 3 | 20,000,000 | 0.0420% / 0.0600% |
VIP 4 | 75,000,000 | 0.0420% / 0.0540% |
VIP 5 | 150,000,000 | 0.0252% / 0.0336% |
VIP 6 | 400,000,000 | 0.0210% / 0.0294% |
VIP 7 | 800,000,000 | 0.0192% / 0.0288% |
VIP 8 | 2,000,000,000 | 0.0165% / 0.0275% |
VIP 9 | 4,000,000,000 | 0.0120% / 0.0240% |
Deposits are free for all digital assets, while withdrawal fees vary by asset and are subject to periodic adjustments. Regarding TRY deposits and withdrawals, there are no fees.
Available Digital Assets on The Platform
Binance TR offers a decent selection of tradable cryptocurrencies, with more than 200 Turkish Lira trading pairs with digital assets, including popular and newly emerged coins and tokens:
- Bitcoin [BTC]
- Ethereum [ETH]
- Solana [SOL]
- XRP
- Dogecoin [DOGE]
- Litecoin [LTC]
- Troy [TROY]
- CoW Protocol [COW]
- Hamster Kombat [HMSTR]
- Dogs [DOGS]
For comparison, there are other crypto exchanges in the industry with a longer list of assets, including HTX and Coinbase.
Are Futures or Margin Trading Available on Binance TR Exchange?
While this exchange offers a comprehensive trading platform, it's important to note that futures trading is not available. Based on our investigations, there is no option regarding margin trading, either.
Therefore, if you intend to trade on these kinds of markets, you should look elsewhere.
How to Register and Verify Your Account
To start trading on the platform, users need to complete a simple signing-up process, which will be discussed here in this section:
- Visit the official website and click "Sign Up";
- Register by entering the required personal information, including your email address, phone number, name, birth date, citizenship, nationality, and Turkish ID number;
- Set a strong password for your account.
Now, you have created your account on the exchange, provide your ID photo and upload a selfie for verification.
What Platform is Available on Binance TR?
The company offers a decent trading platform tailored for the Turkish market, with features such as portfolio management, Turkish Lira deposits and withdrawals, real-time market data, and more. Here are the download links to the applications:
The application has received an excellent rating of 4.8/5 on the Google Play Store and a high score of 4.7/5 on the Apple App Store.
Safety Measurements and Certificates
The mentioned exchange does not provide much information about the security measurements taken for the safety of user funds and data. However, they have received these two certificates:
- ISO 27001 certification for information security governance
- ISO 27701 certification for privacy information management
These certifications indicate the high level of security and privacy on the platform.
Funding Methods: Does Binance TR Support Fiat Deposits?
One of the benefits in trading with a crypto platform is deposits in fiat currencies. The discussed exchange has done a good job in this case, partnering with 7 banks in Turkey for deposits and withdrawals in TRY with no fees.
Also, crypto deposits and withdrawals are supported, similar to many other competitors in the industry.
Trust Scores and Evaluation Ratings
Based on our investigations of various sources on the internet, there have been no reviews and trust scores submitted for Binance TR. It might be because of its limited region of services.
However, Binance itself has scores on websites like CoinGecko. On the mentioned website, the exchange has received the perfect score of 10/10, evaluated based on the CoinGecko's metrics, such as liquidity, cybersecurity, and so on.
Support Services and Contact Channels
The quality of support services is a critical factor when choosing a financial platform of any kind. Binance TR provides several channels for contacting support:
- Phone Call: +90 (212) 955 00 41;
- Email Address: destek@trbinance.com;
- Live Chat: Available on the website.
Unfortunately, there is no data on the support working hours in the mentioned exchange.
Copy Trading and Investment Programs
Investment options have become popular as ways of earning passive income besides trading in financial markets. Binance TR provides only one option for this purpose, which is its "Staking" service. Key Details and Benefits:
- Nearly 180 assets and products available for staking, including ETH, NEAR, STX, APT, ACH, ATOM, COS, and more
- Decent APRs up to 20
- Flexible and locked options
Restricted Countries and Regions
Since the discussed platform is designed specifically for the Turkish market and clients, its services are not available to the residents of other countries in the world.
In other words, the exchange's services are limited to Turkish people and the residents of Turkey.
Writer's Opinion And Conclusion
Binance TR is a cryptocurrency exchange with a 10/10 trust score on the CoinGecko website. Besides, the ScamAdviser platform has given a 66/100 score to the exchange.
The company's application has received a 4.8/5 user rating on the Google Play Store.