Narkasa Crypto Exchange Review 2023 : Pros & Cons

What Is Crypto Exchange ?

A platform that enables users to purchase, sell, and trade cryptocurrencies is known as a crypto exchange, or simply a cryptocurrency exchange. Similar to a typical stock exchange, where buyers and sellers meet to exchange financial assets, it operates in a similar manner. In contrast, other cryptocurrencies like Bitcoin, Ethereum, Ripple, and many more are traded on a crypto exchange.

Users can open accounts, make deposits, and carry out cryptocurrency transactions on cryptocurrency exchanges’ online marketplace. Users can trade cryptocurrencies for one another or exchange cryptocurrencies for fiat currencies like the US dollar or the euro thanks to the variety of trading pairings that are normally available.

These exchanges serve as middlemen, facilitating the matching of user buy and sell orders. Buyers and sellers can place orders on their site at the specified pricing and quantities. Once a match is made, the exchange carries out the transaction, transferring ownership of the bitcoins to the appropriate parties.

What Is Narkasa Crypto Exchange ?

Narkasa cryptocurrency exchange is launched in Jun 2020. Registered in Istanbul chamber of commerce as Narkasa Yazılım Ticaret A.Ş under the registration number 184965-5 and a capital of 5,000,000.00 Turkish Lira.  Narkasa ensures both professional and new users a fast and secure way to trade in cryptocurrency, on a user-friendly platform that was established using the latest technology and world standards. The security of personal information and assets is of top priority to Narkasa thus, aim to serve you with the highest level of security standards that are subjected to periodic audits by independent international audit companies.

Narkasa Crypto Exchange Quick Facts

How To Register At Narkasa Exchange?

To register on Narkasa , click Register Now button at the top of the page. You can also start creating an account directly through the form on the main page.

You only need to enter your e-mail and come up with a password. If there is a referral code, it is also entered at this stage. Password requirements: at least 8 characters, numbers, upper and lower case.

Click ” Create Account ” then go to your email to verify it. Enter the code you received and registration is complete. You can start replenishing your account.

Narkasa Exchange Supported Countries

Narkasa Exchange is a cryptocurrency exchange that supports users from various countries around the world. However, the availability of services may vary depending on the location of the user.

Exceptions are the US, China, Japan and countries in the Middle East. Syria and North Korea are also countries whose nationals cannot trade on Narkasa .

How To Verify Your Narkasa Cryptocurrency Account ?

There is no mandatory verification at Narkasa , but you can pass it if you wish. At the moment, the only restriction imposed on unverified users is the withdrawal limit of Free. In the future, depending on the actions of regulatory authorities, conditions may change.

For verification, you can use one of four documents to choose from: passport, driver’s license, identity card or residence permit. Artificial intelligence is used to evaluate the authenticity of documents. This service is provided by the Onfido online identification service, already used by the Narkasa , Revolut platforms.

How To Buy Crypto Or Deposit Crypto At Narkasa Crypto Exchange?

There are two main options for topping up your balance on Narkasa . Firstly, you can buy cryptocurrency with a bank card – it’s fast and convenient. Go to the ” Buy crypto ” -> ” Buy crypto with a credit card ” section.

Choose a cryptocurrency (currently there are 13 coins available for purchase in this way). Enter the amount and select the fiat currency to be used for payment.

After that, you will need to select a payment channel: each of them has conditions. You can choose between Simplex, Mercuryo, Banxa and Moonpay. Click ” Buy ” next to the appropriate option.

Agree to the terms and confirm the transition to the site of the payment provider. Enter information about the card and its owner, confirm the transaction. Cryptocurrency will be credited to the exchange account within a few minutes.

Second Method

You can transfer digital assets to the balance of the exchange from any external crypto wallet. For this:

• Go to the “Deposit” section from the “Assets” menu.

• From the drop-down list, you can select the cryptocurrency you want to deposit into your account.
• The wallet address will appear. You need to copy it and send funds to it from another wallet or exchange. Please note that only bitcoin can be sent to bitcoin addresses, similarly with other coins.
• You can also click “Show QR code” – for transfers from a mobile wallet, this is a more convenient option.

How To Withdraw Crypto Asset From Narkasa Exchange ?

Having completed all the necessary trading operations, it’s time to withdraw the received assets to an external wallet. Go to ” Assets ” -> ” Withdraw “. Please note that the operation is only available after enabling two-factor authentication in the settings. This is for added security and requires less than a minute, so don’t neglect this measure.

Select a cryptocurrency and enter the withdrawal amount. Each coin has its own withdrawal fee, for example, for BTC it is 0.00057 BTC. Click ” Output “. By default, the exchange processes applications three times a day, however, hourly withdrawals are available for Premium users. Also, the time of receipt of the cryptocurrency is affected by the workload of the blockchain network.

How To Secure Your Narkasa Account ?

There are several steps you can take to help secure your Narkasa account and protect your funds:

1. Strong and Unique Password: Make sure the password you choose for your Narkasa account is both strong and distinctive. A mix of capital and lowercase letters, numerals, and special characters should be used. Avoid using well-known passwords or information that might be guessed, such as your name or birthdate. Make sure you don’t use the same password on many platforms.
2. Two-Factor Authentication (2FA): Enable two-factor authentication (2FA) for your Narkasa account. By requiring a second verification step, usually in the form of a code texted to your mobile device or generated by an authenticator software, this adds an extra layer of protection. The second factor is still required to access your account, even if someone guesses or discovers your password.
3. Maintain Software Updates: Be sure to keep your operating system, web browser, and security software all up to date on your devices. By making sure your software is up to date, you may minimize the chance of vulnerabilities by having the most recent security patches and fixes.
4. Phishing Attempts to Avoid: Be wary of any shady emails, messages, or links that purport to be from Narkasa. Phishing attempts frequently try to persuade you to divulge your login information or other sensitive data. Before clicking on any links or entering any sensitive information, always be sure the source is legitimate.
5. Secure Network Connections: Make sure you are utilizing a secure network connection when accessing your Narkasa account. Use private Wi-Fi networks only; public ones could be vulnerable to eavesdropping and unsecure. Use a reputable, secure network instead, such your home Wi-Fi or a virtual private network (VPN).
6. Monitor Account Activity: Keep an eye out for any unusual activity or illegal access by regularly reviewing your Narkasa account activity. Report any strange activity right away to Narkasa if you see it.
7. By taking these steps, you can help protect your Narkasa account and reduce the risk of unauthorized access to your funds.

Fees taken when buying virtual currency

Narkasa Trading fees

Every time you place an order, the exchange charges you a trading fee. The trading fee is normally a percentage of the value of the trade order. Many exchanges divide between takers and makers. Takers are the one who “take” an existing order from the order book.

Narkasa charges what we call flat fees, meaning that both the takers and the makers pay the same fee. In this case, that fee is 0.20%. These flat fees are quite in line with, or slightly above, the global industry averages for centralized exchanges. found that the industry average spot trading taker fee was 0.217% and the corresponding spot trading maker fee was 0.164%. Here, as you recall, they are both set at 0.20%.

Consequently, Narkasa’s trading fees are slightly below average for the takers and a bit higher than average for the makers.

Narkasa Withdrawal fees

This exchange charges a withdrawal fee amounting to 0.0003 BTC when you withdraw BTC. This fee is substantially below the industry average, which was 0.000643 BTC per BTC-withdrawal the last time we made an empirical study (report available here).

Accordingly, the withdrawal fees here are an edge against Narkasa’s competitors in the crypto exchange industry.

Deposit Methods

In addition to depositing cryptocurrency to the platform, Narkasa also lets you deposit fiat currency. However, only through wire transfer (not credit or debit card).

Seeing as fiat currency deposits are possible at this trading platform, this platform qualifies as an “entry-level exchange”, making it an exchange where new crypto investors can start their journey into the exciting crypto world.

How To Contact Narkasa Customer Support Team?

If you need help with your Narkasa account or have any questions, you can contact Narkasa customer support through the following methods:

Go to the business website: A “Contact” or “Support” page should be easy to find on their main website. Information on how to contact their customer care service is frequently available on this website. There can be a phone number, email address, or ticketing system.

Find contact information online: If a company’s website lacks a specific contact page, consider looking out their customer support contact details online. Find any contact information that may be available by using search engines and social media networks.

Phone: You can either send an email or call their customer service phone number once you have located the contact information. If you decide to use email, be sure to give a thorough explanation of your problem or request. If you’d rather call, be ready to clarify your query or issue to the support agent.

Social media platforms: A lot of businesses have customer service departments that keep an eye on their social media profiles. Think about contacting them via social media sites like Facebook or Twitter by mentioning them in a post or sending them a direct message.

No matter which method you choose, be sure to provide as much detail as possible about your issue or question so that Narkasa customer support can assist you efficiently.

Features Of Narkasa Crypto Exchange

Available At Android & IOS Store

Narkasa exchange application available on both world famous mobile store google play store and iOS store . You Can download App and start trading.

Convenient Payment Methods

Narkasa accepts a wide range of payment methods, including UK bank transfers, debit cards, and credit cards.

Trading Pairs:

Narkasa supports a wide range of trading pairs, including BTC, ETH, USDT, USDC, and more. This allows traders to access a variety of cryptocurrencies and trade them against each other.

Staking:

Narkasa offers users the ability to stake their cryptocurrencies and earn rewards. This is a great way to earn passive income on your crypto holdings.

Affiliate Program:

Narkasa has an affiliate program that allows users to earn commissions by referring others to the platform.

Security:

Narkasa takes security very seriously and employs various measures to ensure the safety of user funds. These include two-factor authentication (2FA), cold storage of funds, and regular security audits.

User-Friendly Interface:

Narkasa has a user-friendly interface that is easy to navigate, making it ideal for both beginner and advanced traders.

Trading Tools:

Narkasa provides users with a range of trading tools, including advanced charting, technical indicators, and order types. This allows traders to make informed trading decisions.

Mobile App:

Narkasa has a mobile app for both iOS and Android devices, allowing users to trade on-the-go.

Multiple payment Options

Narkasa supports a variety of payment options, including bank transfers, credit/debit cards, and e-wallets, among others.

Narkasa Good Or Bad Points

Narkasa is a cryptocurrency exchange that allows users to buy and sell various cryptocurrencies. Here are some potential good and bad points of using Narkasa :

Good points:

1. Products available in a large variety: Online marketplaces frequently offer a huge selection of products from different sellers or vendors, giving customers a variety of options.
2. Competitive pricing: Multiple vendors in online marketplaces can encourage competition, which can result in competitive pricing and possible cost savings for buyers.
3. Convenience: Unlike conventional stores, online markets let customers shop while remaining at home, saving them time and effort.
4. User evaluations and ratings: The majority of online marketplaces include a method for users to submit evaluations and ratings, which can aid prospective customers in making educated selections regarding the goods and vendors.
5. Transactions that are safe for customers: Reputable online marketplaces often have secure payment methods and buyer protection rules in place.

Bad points:

1. Products that are counterfeit: It might be difficult for online marketplaces to stop the selling of products that are fake or of poor quality. Buyers must exercise caution and confirm the legitimacy of sellers and the product’s validity.
2. Trust and reputation: Because there may be a lot of sellers on online marketplaces, customers may need to investigate and evaluate each seller’s reputation and trustworthiness before making a purchase.
3. Limited direct customer service: In online marketplaces, customer service and assistance are frequently handled by vendors, which can cause discrepancies in quality and response time.
4. Shipping and delivery : Delivery reliability and shipment times can vary depending on the marketplace and the seller, which could cause delays or other problems.

Is Narkasa Is Safe Platform To Trade ?

Users can purchase, sell, and trade different cryptocurrencies on the Narkasa platform, which is an exchange for cryptocurrencies. No exchange can guarantee 100% security, but Narkasa has put in place a number of security precautions to assist safeguard the money of its users.

For instance, Narkasa keeps the majority of the money belonging to its customers in cold wallets, which are offline and not connected to the internet. Because of this, it is significantly more challenging for hackers to steal money. Two-factor authentication (2FA) is another security measure that Narkasa utilizes to add to the protection of user accounts.

It’s crucial to keep in mind that no exchange can completely guarantee security, and trading cryptocurrencies is never completely risk-free. To protect your assets, it’s critical to conduct your homework, comprehend the threats, and implement the necessary security measures.

In conclusion, Narkasa has implemented a number of security-enhancing measures, but it is always advisable to exercise caution and due investigation before trading on any platform.

Narkasa Conclusion

Online marketplaces known as cryptocurrency platforms let users buy, sell, and trade digital currencies like Bitcoin, Ethereum, and others. These online marketplaces serve as middlemen, bringing together buyers and sellers and facilitating transactions. They often provide consumers digital wallets so they may safely store their cryptocurrency.

Users can trade one cryptocurrency for another using platforms, which offer a large number of trading pairs. Platforms give customers access to historical data, price charts, and real-time market data to aid in trend analysis and trading decision-making.

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