What is Narkasa?
Narkasa is a Turkish cryptocurrency exchange that has been in operation since 2020. This article provides insights into its key features and offerings.
Supported Cryptocurrencies
Narkasa has a limited selection of supported cryptocurrencies, including USDT, BTC, LINK, ETH, and XRP. The rationale behind this limited selection is discussed, emphasizing the perceived security benefits of trading well-established cryptocurrencies.
Mobile Support
While desktop trading is favored by many crypto traders for its larger screen and enhanced chart visibility, Narkasa acknowledges the importance of mobile trading. The article explores the convenience and preferences of investors who choose to engage in cryptocurrency trading via their mobile phones.
US-Investors Restrictions
A common trend among cryptocurrency exchanges is the restriction imposed on US investors. The article sheds light on the reasons behind such limitations, primarily attributing them to the strict regulations enforced by the Securities Exchange Commission (SEC). Narkasa is noted as not permitting US investors, and alternative options are suggested for those seeking exchanges accessible to US citizens.
Trading View
Every trading platform features a trading view, providing users with essential information such as price charts, current prices, and order history. The article briefly discusses Narkasa's trading view and its significance for traders making informed decisions.
Trading Fees
Narkasa employs flat fees for both takers and makers, charging 0.20%. A comparison with global industry averages is provided, indicating that Narkasa's fees are slightly below average for takers and slightly above average for makers.
Withdrawal Fees
The withdrawal fees at Narkasa are highlighted, particularly the substantially below-average withdrawal fee of 0.0003 BTC for BTC withdrawals. This competitive edge over industry averages positions Narkasa favorably in the cryptocurrency exchange landscape.
Deposit Methods
Narkasa facilitates both cryptocurrency and fiat currency deposits. However, it is emphasized that fiat currency deposits are limited to wire transfers, categorizing Narkasa as an "entry-level exchange" suitable for new crypto investors.
In conclusion, this comprehensive overview provides a detailed understanding of Narkasa, covering its supported cryptocurrencies, mobile support, restrictions on US investors, trading view, fees, withdrawal fees, and deposit methods.
What are the trading fees on Narkasa?
Narkasa employs flat fees for both takers and makers, charging 0.20%. A comparison with global industry averages is provided, indicating that Narkasa's fees are slightly below average for takers and slightly above average for makers.
Does Narkasa offer leverage trading?
Narkasa does not currently offer margin trading or leverage options.
Is Narkasa 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.
