[Exchanges](https://revain.org/exchanges/) › BtcTurk

# BtcTurk: licences, security, fees and reviews

Centralized exchange

## Key facts

- **Type**: Centralized exchange
- **Exchange launched**: 2013
- **Country of registration**: Türkiye
- **Operator**: BtcTurk Kripto Varlık Alım Satım Platformu A.Ş.
- **Official site**: [kripto.btcturk.com/en](https://kripto.btcturk.com/en)

Key facts checked on 29 October 2026 against official sources and regulator registers.

## What is BtcTurk

BtcTurk is a centralised crypto exchange in Istanbul, Türkiye. Trading began on 1 July 2013; the platform now runs as BtcTurk | Kripto, operated by BtcTurk Kripto Varlık Alım Satım Platformu A.Ş. It offers crypto trading against the Turkish lira and other crypto assets, with lira deposits and withdrawals through Turkish banks.

## Good to know

- Türkiye's Capital Markets Board (SPK) lists BtcTurk's operator on a provisional list of firms operating under a transitional rule. The list, dated 28 October 2026, states that inclusion does not mean authorisation. [↗](https://spk.gov.tr/kurumlar/kripto-varlik-hizmet-saglayicilar/faaliyette-bulunanlar-listesi)
- Under the terms, customer crypto left on the platform is stored by BtcTurk Kripto Varlık Saklama A.Ş. SPK's provisional list includes Btcturk Kripto Varlık Saklama Kuruluşu AŞ (former name Btcturk Dijital Saklama Yönetim AŞ) with a custody application. The terms do not say whether these names refer to the same company. [↗](https://kripto.btcturk.com/en/legal-information/terms-of-use)
- BtcTurk may act as the counterparty to a user's buy or sell order without prior notice; the user is then notified electronically. [↗](https://kripto.btcturk.com/en/legal-information/terms-of-use)
- Users' lira balances are kept in pooled bank accounts in BtcTurk Kripto's name, marked as held on behalf of users. [↗](https://kripto.btcturk.com/en/legal-information/terms-of-use)
- BtcTurk | Global is a separate app. Crypto can be moved to it from BtcTurk | Kripto with Kolay Transfer, without a transfer fee. [↗](https://bilgiplatformu.btcturk.com/btcturk-kripto/kolay-transfer-ile-btcturk-globale-nasil-kriptopara-gonderilir/)
- SPK's administrative fines register, searched on 29 October 2026, lists fines dated 13 February 2025 and 27 March 2025 on BtcTurk Yatırım Menkul Değerler A.Ş., the brokerage behind BtcTurk Hisse, and none on the exchange's operator. The register marks the 27 March 2025 fines as challenged in court, with proceedings ongoing; the last court decision it records is dismissal of the case. [↗](https://idariyaptirimlar.spk.gov.tr/api/IdariParaCezasi/Filtre)
- BtcTurk may earn interest on users' positive lira balances and keep the yield. End-of-day balances accrue in the user's favour only after an explicit written request. [↗](https://kripto.btcturk.com/en/legal-information/terms-of-use)
- The terms treat users as investors, not consumers under Türkiye's Consumer Protection Law No. 6502, so consumer courts do not hear disputes. [↗](https://kripto.btcturk.com/en/legal-information/terms-of-use)
- When an account is closed and the user does not give a crypto address in time, BtcTurk may sell the remaining crypto at platform prices and send the proceeds to a bank account. [↗](https://kripto.btcturk.com/en/legal-information/terms-of-use)
- Which crypto assets a user can trade may depend on the country of the user's citizenship, tax residence or residence. [↗](https://kripto.btcturk.com/en/legal-information/terms-of-use)

## Services

| Parameter | Details |
|---|---|
| Spot trading | Crypto/TRY and crypto/crypto pairs, in Basic and Advanced trading views. |
| Turkish lira deposits and withdrawals | Turkish lira deposits and withdrawals through bank accounts in Türkiye. |
| US dollar deposits and withdrawals (as USDT) | US dollar transfers from Akbank and İş Bankası accounts, credited as USDT; USDT can be withdrawn to those banks as dollars. |

## Licences and registrations

| Jurisdiction | Entity | Licence / registration | Regulator |
|---|---|---|---|
| Türkiye | Btcturk Kripto Varlık Alım Satım Platformu AŞ | Provisional list under transitional Article 11 of Capital Markets Law No. 6362 (28 October 2026); inclusion does not mean authorisation | [Capital Markets Board of Türkiye (SPK)](https://spk.gov.tr/kurumlar/kripto-varlik-hizmet-saglayicilar/faaliyette-bulunanlar-listesi) |
| Türkiye | Btcturk Kripto Varlık Saklama Kuruluşu AŞ (formerly Btcturk Dijital Saklama Yönetim AŞ) | Custody application; on the same provisional list (dated 28 October 2026) | [Capital Markets Board of Türkiye (SPK)](https://spk.gov.tr/kurumlar/kripto-varlik-hizmet-saglayicilar/faaliyette-bulunanlar-listesi) |

## Status in the United States and the United Kingdom

- No BtcTurk entity appears in FinCEN’s MSB Registrant Search: searches for “BtcTurk” and for the former name “Eliptik”, by legal name and by trade name, returned no match on 29 October 2026. [FinCEN, MSB Registrant Search](https://msb.fincen.gov/)
- BtcTurk is not listed in the FCA Financial Services Register: searches for “BtcTurk” and “Eliptik” returned no firm on 29 October 2026, and the FCA website search gave no results for “btcturk”. UK cryptoasset businesses must register with the FCA before offering in-scope services. [FCA Financial Services Register](https://register.fca.org.uk/s/search?q=btcturk&type=Companies)
- BtcTurk is not among the virtual currency entities regulated by the New York State Department of Financial Services (checked 29 October 2026). Virtual currency business in New York requires a BitLicense or a charter under the state’s Banking Law. [NYDFS, virtual currency businesses](https://www.dfs.ny.gov/apps_and_licensing/virtual_currency_businesses)
- BtcTurk’s terms of use require customers who are US citizens, or who are subject to US tax law, to tell the exchange so; their personal and financial information is then shared with the US Internal Revenue Service and other authorities named in the terms. [BtcTurk Kripto, Terms of Use](https://kripto.btcturk.com/en/legal-information/terms-of-use)

Checked on 29 October 2026 against regulator registers and the text of the law.

## Security and audits

- At least 97% of users' Bitcoin is kept in offline multi-signature wallets on FIPS Level 2 certified devices, with backups stored overseas.
- Two-factor authentication applies to all user accounts.
- BtcTurk says its systems are audited regularly by international independent firms.
- The company's independent auditor listed on its About Us page is DRT Bağımsız Denetim ve Serbest Muhasebeci Mali Müşavirlik A.Ş.
- Under Türkiye's rules of 13 March 2025, as summarised by BtcTurk, platforms may hold at most 10% of user assets in hot wallets (an asset whose total on the platform is under 100,000 lira is not counted toward this limit), and an independent audit firm checks reserve adequacy four times a year.
- A personal security image is shown at each login, and the IP address, device, operating system and browser are recorded for every account activity.

## Fees

| Parameter | Details |
|---|---|
| Spot maker | 0.12% on crypto/TRY and 0.10% on crypto/crypto at the base tier, 20% VAT included |
| Spot taker | 0.24% on crypto/TRY and 0.14% on crypto/crypto at the base tier, 20% VAT included |
| Deposits | Crypto deposits free; Turkish lira deposits and withdrawals free through partner banks |
| Withdrawals | Set per asset and network, e.g. 0.00005 BTC on Bitcoin and 0 BTC on Lightning |
| Fee tiers | Eight levels set by 30-day trading volume in TRY (lira and Tether trades counted); each user has one fee level; BtcTurk \| Hisse volume counts if the accounts are linked |

## Who can use it

- Verification: Identity verification is required before any purchase, sale, transfer, deposit or withdrawal.
- Citizens, residents or tax residents of sanctioned countries, and people on sanctions lists, may not use the service. US, EU and other foreign citizens must tell BtcTurk of their status.

## History

| Date | Event |
|---|---|
| 1 July 2013 | BtcTurk, founded by Kerem Tibuk, began trading. |
| 2018 | BtcTurk launched BtcTurk \| PRO, later renamed BtcTurk \| Kripto. |
| 20 September 2021 | The earliest weekly KPMG summary report on BtcTurk's Reports page is dated 20 September 2021; KPMG checks whether the crypto BtcTurk says it holds for users is on the blockchain. |
| 25 September 2023 | The latest KPMG summary report on the Reports page is dated 25 September 2023; none is listed after it (checked 29 October 2026). |
| 2024 | Salim Karaman was appointed CEO of BtcTurk \| Kripto. |
| 13 March 2025 | Türkiye added new requirements to its secondary rules for crypto asset service providers. |
| 2025 | BtcTurk introduced video calls and other technical and operational changes to comply with the new rules, and listed 39 new crypto assets. |

## Risks and caveats

- Crypto assets on BtcTurk are not covered by the investor compensation rules of Article 82 of Türkiye's Capital Markets Law.
- User crypto may be pooled with other users' assets and with BtcTurk's own crypto.
- BtcTurk is on the regulator's provisional list (28 October 2026), which states that inclusion does not mean authorisation.
- BtcTurk may trade against its own users as counterparty.
- BtcTurk may freeze, suspend or close accounts and funds at its discretion, including on official requests or suspicion about the user.
- BtcTurk may block crypto deposits or withdrawals, or delist an asset, at any time.

## About the company

- **Legal entity**: BtcTurk Kripto Varlık Alım Satım Platformu Anonim Şirketi (trade registry no. 81918-5)
- **Founded**: 2013; trading began on 1 July 2013
- **Founders**: Kerem Tibuk
- **Headquarters**: Akmerkez, Beşiktaş, Istanbul, Türkiye
- **Shareholders**: Shareholders of the operator: Kerem Tibuk 90%, Celalettin Özgür Güneri 7%, Ozan Yurtseven 3%
- **CEO**: Salim Karaman; chairman Kerem Tibuk
- **Formerly**: Operator formerly named Eliptik Yazılım Ticaret AŞ
- **Capital**: Paid-in capital 150,000,000 TRY
- **Auditor**: DRT Bağımsız Denetim ve Serbest Muhasebeci Mali Müşavirlik A.Ş. (registry no. 304099)
- **Group companies**: The terms list BtcTurk Yatırım Menkul Değerler A.Ş. (BtcTurk Securities) and BtcTurk Portföy Yönetimi A.Ş. (BtcTurk Asset Management) as group companies. For custody the terms use two names: BtcTurk Dijital Saklama Hizmetleri A.Ş. (BtcTurk Custody) in the group list and BtcTurk Kripto Varlık Saklama A.Ş. in the custody clause.

## Official links

- Website: [kripto.btcturk.com/en/corporate/about-us](https://kripto.btcturk.com/en/corporate/about-us)
- Fees: [kripto.btcturk.com/en/help/fees](https://kripto.btcturk.com/en/help/fees)
- Licences: [spk.gov.tr/kurumlar/kripto-varlik-hizmet-saglayicilar/faaliyette-bulunanlar-listesi](https://spk.gov.tr/kurumlar/kripto-varlik-hizmet-saglayicilar/faaliyette-bulunanlar-listesi)
- Terms of use: [kripto.btcturk.com/en/legal-information/terms-of-use](https://kripto.btcturk.com/en/legal-information/terms-of-use)
- Security: [kripto.btcturk.com/en/help/security](https://kripto.btcturk.com/en/help/security)

## Questions and answers

**Is BtcTurk regulated?**

BtcTurk's operator is on the Capital Markets Board of Türkiye's provisional list of crypto asset service providers (28 October 2026). The list states that inclusion does not mean authorisation.

**Does BtcTurk publish proof of reserves?**

BtcTurk's Reports page lists weekly KPMG summary reports that check whether the crypto BtcTurk says it holds for users is on the blockchain. The latest one is dated 25 September 2023 (checked 29 October 2026). BtcTurk says at least 97% of users' Bitcoin is held in offline multi-signature wallets.

**What are BtcTurk's fees?**

At the base tier, crypto/TRY trades cost 0.12% (maker) and 0.24% (taker); crypto/crypto trades cost 0.10% and 0.14%, VAT included. Withdrawal fees are set per asset.

**Who owns BtcTurk?**

BtcTurk Kripto Varlık Alım Satım Platformu A.Ş. is 90% owned by its founder and chairman Kerem Tibuk; Salim Karaman is CEO.

**Is BtcTurk available in the US or EU?**

The terms do not exclude US or EU citizens; they must tell BtcTurk of their status. Citizens, residents or tax residents of sanctioned countries, and people on sanctions lists, may not use the service.

**Who holds customer crypto on BtcTurk?**

The terms say crypto left on the platform is stored by BtcTurk Kripto Varlık Saklama A.Ş. SPK's provisional list (28 October 2026) includes Btcturk Kripto Varlık Saklama Kuruluşu AŞ with a custody application; the sources do not state that these are the same company. User crypto may be held together with other users' and BtcTurk's own assets.

**Has BtcTurk been fined by the regulator?**

SPK's administrative fines register, searched on 29 October 2026, shows no fine on the exchange's operator. It lists 2025 fines on BtcTurk Yatırım Menkul Değerler A.Ş., the group's separate brokerage behind BtcTurk Hisse; the 27 March 2025 fines are marked as challenged in court, with proceedings ongoing.

**Does BtcTurk pay interest on lira balances?**

BtcTurk may earn interest on users' positive lira balances and keep the yield; end-of-day balances accrue to the user only after an explicit written request.

## Sources

- [BtcTurk | Kripto — About Us (from the copy of 28 October 2026)](https://kripto.btcturk.com/en/corporate/about-us)
- [BtcTurk | Kripto — Fees (trading-fee rates and tiers from the copy of 28 October 2026)](https://kripto.btcturk.com/en/help/fees)
- [BtcTurk | Kripto — Security (from the copy of 28 October 2026)](https://kripto.btcturk.com/en/help/security)
- [BtcTurk | Kripto — Reports (KPMG summary reports)](https://kripto.btcturk.com/en/corporate/reports)
- [BtcTurk | Kripto — Terms of Use (from the copy of 28 October 2026)](https://kripto.btcturk.com/en/legal-information/terms-of-use)
- [BtcTurk Bilgi Platformu — 2025 review](https://bilgiplatformu.btcturk.com/btcturk-kripto/2025de-btcturk-kriptoda-neler-oldu/)
- [BtcTurk Bilgi Platformu — 13 March 2025 crypto asset regulations](https://bilgiplatformu.btcturk.com/kripto-okur-yazarlik/13-mart-2025-kripto-varlik-duzenlemeleri/)
- [Capital Markets Board of Türkiye — Crypto asset service providers, provisional list](https://spk.gov.tr/kurumlar/kripto-varlik-hizmet-saglayicilar/faaliyette-bulunanlar-listesi)
- [BtcTurk Bilgi Platformu — How BtcTurk was founded](https://bilgiplatformu.btcturk.com/btcturk-kripto/btcturk-nasil-kuruldu/)
- [BtcTurk Bilgi Platformu — What is BtcTurk | Kripto](https://bilgiplatformu.btcturk.com/btcturk-kripto/btcturk-kripto-nedir/)
- [BtcTurk Bilgi Platformu — Free Turkish lira deposits and withdrawals](https://bilgiplatformu.btcturk.com/btcturk-kripto/btcturk-hesabiniz-ile-7-24-turk-lirasi-yatirma-ve-cekme-islemleri-ucretsiz/)
- [BtcTurk Bilgi Platformu — USD deposits and withdrawals with Akbank](https://bilgiplatformu.btcturk.com/btcturk-kripto/btcturk-kriptoda-akbank-ile-dolar-usd-yatirma-ve-cekme-islemleri-nasil-yapilir/)
- [BtcTurk Bilgi Platformu — USD deposits and withdrawals with İş Bankası](https://bilgiplatformu.btcturk.com/btcturk-kripto/btcturk-kriptoda-is-bankasi-ile-dolar-usd-yatirma-ve-cekme-islemleri-nasil-yapilir/)
- [BtcTurk Bilgi Platformu — Kolay Transfer to BtcTurk | Global](https://bilgiplatformu.btcturk.com/btcturk-kripto/kolay-transfer-ile-btcturk-globale-nasil-kriptopara-gonderilir/)
- [Capital Markets Board of Türkiye — Administrative fines register (data API)](https://idariyaptirimlar.spk.gov.tr/api/IdariParaCezasi/Filtre)
- [BtcTurk Bilgi Platformu — Who is Salim Karaman, CEO of BtcTurk | Kripto](https://bilgiplatformu.btcturk.com/btcturk-kripto/btcturk-kripto-ceo-salim-karaman-kimdir/)
- [FinCEN, MSB Registrant Search](https://msb.fincen.gov/)
- [FCA Financial Services Register](https://register.fca.org.uk/s/search?q=btcturk&type=Companies)
- [NYDFS, virtual currency businesses](https://www.dfs.ny.gov/apps_and_licensing/virtual_currency_businesses)

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Page updated: 2026-10-29

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Source: https://revain.org/exchanges/btcturk/