How Can I Buy Bitcoin with Cash in Turkey?

How Can I Buy Bitcoin with Cash in Turkey?

Investing in cryptocurrencies and digital assets can be an exciting way to grow your money, but it also comes with an element of risk. The values of Bitcoin, Ethereum, and other crypto are extremely volatile. Your investment could crash overnight or shoot up in just days. However, the Turkish lira has lost more than 40% of its value against the US dollar this year alone meaning some people in the country see crypto as the more stable option. If you have cash sitting in your bank account that you want to convert into cryptocurrency, you don’t have to deal with shady sites. This post will show you how to buy Bitcoin with cash in Turkey.

Buy using a Bitcoin ATM

Turkey is a country that has readily embraced Bitcoin and other digital currencies. Bitcoin ATMs can be found all over Istanbul, including one just outside the historic Sultanahmet district near the Hagia Sophia and Blue Mosque. According to the Coin ATM Radar website, there are 88 Bitcoin ATMs in Istanbul alone. This ready availability allows you to access a wide variety of cryptocurrencies. To get started with any of these options, you will need some Turkish Lira as none of them accept U.S dollars or euros at present.

Find a Good Exchange Website

Crypto exchanges are the best way to buy Bitcoin with cash. Nakitcoins is one of the most popular websites for buying and selling Bitcoin with cash but there are many others too. When looking for a crypto exchange website, there are two key things you want to look at first, its reviews and its fees. Reviews will tell you how easy it is to use the site, while the fees that you’ll be paying on top of your Bitcoin purchase price are also an important consideration. You should also check what kind of payment methods they accept. Due your due diligence before settling on a particular exchange. The ultimate objective is to work with an exchange that is safe and convenient.

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Use a Reputable Peer-to-Peer Trading Platform

Peer-to-peer Bitcoin trading platforms are an efficient and secure way to buy bitcoin. One of the most popular platforms is LocalBitcoins, which has over 4000 buyers and sellers worldwide. This peer-to-peer market allows people from all over the world to buy and sell bitcoins without a centralized third party like a bank or escrow account.

Find Someone Who Wants to Sell Bitcoin for Cash

The other most popular option is to find someone on one of the many global cryptocurrency forums and sites such as Bitcointalk or Reddit. Ensure these people live near you and agree on a price (just like it would work when buying used items through Craigslist). However, be very careful when meeting up with strangers or agreeing on deals that involve large sums of money.

As you can see, buying Bitcoin in cash is not that hard. However, there are some things you need to be aware of. You need to practice caution because of scammers. So, always opt for well-established exchanges and providers in Turkey or wherever you are. Remember, your Bitcoins are only as safe as the provider you use.

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Shankar is a tech blogger who occasionally enjoys penning historical fiction. With over a thousand articles written on tech, business, finance, marketing, mobile, social media, cloud storage, software, and general topics, he has been creating material for the past eight years.