What is Bitci TR?
Launched in 2018, Bitci TR is a centralized exchange based in Turkey. With claims of serving over 5 million registered users, it facilitates Turkish Lira deposits and withdrawals through integration with seven Turkish banks, providing 24/7 availability. Bitci TR primarily offers trading pairs in Turkish Lira and USDT.
Platform Features
Supported Cryptocurrencies
Bitci boasts a diverse range of trading pairs, including various exotic altcoins. While this offers flexibility for traders with specific needs, it also raises concerns about the potential inclusion of scam coins on the platform.
Mobile Support
Recognizing the preferences of different traders, Bitci extends support for mobile trading. While desktops are often favored for their larger screens, the platform acknowledges the convenience of mobile trading for some users.
US Investor Considerations
US-investors
Bitci's stance on permitting US investors remains unclear. The absence of an explicit prohibition in their Terms and Conditions prompts a call for US investors to independently assess the permissibility of trading on the platform, given the regulatory environment, particularly involving the Securities Exchange Commission (SEC).
Trading Experience
Trading View
As with any exchange, Bitci provides a trading view on its website. This feature allows users to analyze price charts, place orders, and view order history, creating a comprehensive trading experience on desktop devices.
Trading Fees
Bitci charges flat trading fees of 0.20% for both takers and makers. While this aligns with the historical industry average for centralized exchanges (0.20-0.25%), evolving trends show a shift towards lower fees, with new averages ranging from 0.10% to 0.15%.
Withdrawal Fees
For BTC withdrawals, Bitci imposes a fee of 0.001 BTC per transaction, slightly above the global industry average. The current global standard for BTC withdrawal fees is slightly above 0.0006 BTC per transaction.
Funding Methods
Deposit Methods
Bitci facilitates deposits in both cryptocurrency and fiat currency. However, fiat deposits are limited to wire transfers, excluding credit or debit card options.
In summary, Bitci TR offers a comprehensive cryptocurrency trading platform with notable features, but potential considerations for US investors and fee-conscious traders. Users are advised to conduct thorough research and assessment before engaging in trading activities on the Bitci platform.
What are the trading fees on Bitci TR?
Bitci charges flat trading fees of 0.20% for both takers and makers. While this aligns with the historical industry average for centralized exchanges (0.20-0.25%), evolving trends show a shift towards lower fees, with new averages ranging from 0.10% to 0.15%.
Does Bitci TR offer leverage trading?
Bitci TR does not currently offer margin trading or leverage options.
Is Bitci TR safe?
While many major CEXes boast stronger firewalls than most governments, history has witnessed numerous instances where exchanges have fallen victim to hacks, resulting in the loss of customer funds. DEXes are generally safer option as you have control over your funds at all times as long as blockchain is up and running. Its all based off contract code so you can clearly look whats behind the scenes, and how their contracts work.
Does have customer support?
Almost all exchanges provide customer support, but the quality, speed and continuity of this service varies from time to time depending on the budget conditions of the companies. We recommend that you experience the support service provided by the stock exchange by asking a question to the support section on its website.
