Paribu Crypto Exchange Review 2023 : Pros & Cons

What Is Crypto Exchange

A crypto exchange is a digital platform where people can buy, sell, and trade various cryptocurrencies such as Bitcoin, Ethereum, and Litecoin, among others. It functions similarly to traditional stock exchanges, but instead of trading stocks, users can trade different cryptocurrencies against one another or against fiat currencies such as USD, EUR, or GBP.

Crypto exchanges can be centralized or decentralized. Centralized exchanges are run by a company or organization, and they manage the exchange of cryptocurrencies between users. Decentralized exchanges, on the other hand, operate on a peer-to-peer network, and they allow users to trade cryptocurrencies directly with each other without the need for an intermediary.

Some popular examples of centralized crypto exchanges include Coinbase, Binance, and Kraken, while examples of decentralized exchanges include Uniswap and PancakeSwap.

It is important to note that crypto exchanges can be risky, and users should exercise caution when using them. Factors such as security, liquidity, and fees should be taken into consideration when choosing an exchange to use.

What Is Paribu Crypto Exchange ?

Paribu Exchange is one of the leading cryptocurrency trading platforms with almost 5 million users. Paribu started its operations in February 2017 and now, the exchange has support for more than 60 cryptocurrencies. The users can deposit and withdraw Turkish Lira through any of the seven banks that Paribu has integrated with. Paribu offers Turkish Lira pairs as well as USDT pairs. Along with support for the domestic fiat currency, Paribu also provides 24/7 customer support for its users.

Paribu Crypto Exchange Quick Facts

How To Register At Paribu Exchange?

To register on Paribu , 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.

1. Go to the Paribu Exchange website at www.paribu.com
2. Click on the “Sign Up” button located at the top right corner of the page.
3. Enter your email address and create a password.
4. Click on the checkbox to agree to the Terms of Service and Privacy Policy.
5. Solve the captcha puzzle and click on the “Create Account” button.
6. You will receive an email verification link in your registered email inbox. Click on the link to verify your email.
7. After verifying your email, you will be asked to complete your profile by providing your name, surname, and phone number. You will also need to set up 2-factor authentication (2FA) for added security.
8. Once you have completed your profile, you can start depositing funds and trading cryptocurrencies on Paribu.

Note: Depending on your country of residence, you may need to provide additional documentation for KYC (Know Your Customer) purposes to comply with local regulations.

Paribu Exchange Supported Countries

Paribu Exchange is a cryptocurrency exchange based in Turkey, and it primarily serves customers located in Turkey. However, the exchange also supports users from other countries.

According to Paribu’s website, the exchange currently supports customers from the following countries:

• Turkey
• Germany
• United Kingdom
• Netherlands
• Switzerland
• Norway
• Sweden
• Denmark
• Australia
• United States
• Canada
• Russia
• Ukraine
• Kazakhstan
• Azerbaijan
• Belarus
• Georgia
• Moldova

Please note that the availability of services and features may vary depending on the user’s country of residence, and users are advised to check the exchange’s website or contact customer support for more information.

How To Verify Your Paribu Cryptocurrency Account ?

To verify your Paribu cryptocurrency account, you need to complete the KYC (Know Your Customer) process. Here are the steps:

1. Log in to your Paribu account.
2. Click on your profile icon located at the top right corner of the page and select “Profile Verification” from the drop-down menu.
3. Choose your nationality and enter your personal information such as your full name, date of birth, and address.
4. Upload a photo of your government-issued ID card or passport. Make sure the ID is not expired and the information is clear and legible.
5. Upload a selfie of yourself holding the same ID or passport next to your face.
6. Wait for Paribu to review your documents. This process may take a few days to complete.
7. Once your documents are approved, you will receive a notification and your account will be fully verified.

It’s important to note that Paribu may request additional documents or information for further verification, depending on your country of residence and the amount of cryptocurrency you want to trade or withdraw.

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

To buy cryptocurrency or deposit crypto on Paribu crypto exchange, follow these steps:

1. Log in to your Paribu account.
2. Click on the “Deposit/Withdraw” button located at the top right corner of the page.
3. Select the cryptocurrency you want to deposit from the list of available options.
4. Paribu will generate a unique deposit address for you. Copy the address or scan the QR code to send cryptocurrency to your Paribu account from an external wallet.
5. Once the transaction is confirmed on the blockchain, the cryptocurrency will appear in your Paribu account balance.

To buy cryptocurrency on Paribu crypto exchange, follow these steps:

1. Log in to your Paribu account.
2. Click on the “Buy/Sell” button located at the top center of the page.
3. Select the cryptocurrency you want to buy and the currency you want to use for the purchase (e.g., TRY for Turkish Lira, USD for US Dollar).
4. Enter the amount you want to buy or the amount you want to spend.
5. Review the transaction details, including fees and the final price.
6. Click on the “Buy” button to confirm the transaction.
7. Once the transaction is completed, the cryptocurrency will appear in your Paribu account balance.

Note: Depending on your country of residence and the amount of cryptocurrency you want to deposit or trade, you may need to complete the KYC (Know Your Customer) process first. Paribu also charges fees for deposits, withdrawals, and trades, so make sure to review the fee schedule before making any transactions.

How To Withdraw Crypto Asset From Paribu Exchange ?

To withdraw crypto assets from your Paribu Exchange account, you can follow these steps:

1. Log in to your Paribu account.
2. Click on the “Deposit/Withdraw” button located at the top right corner of the page.
3. Select the cryptocurrency you want to withdraw from the list of available options.
4. Enter the withdrawal amount and the destination wallet address.
5. Review the transaction details, including the withdrawal fee.
6. Click on the “Withdraw” button to confirm the transaction.
7. Enter your 2-factor authentication (2FA) code to complete the transaction.

Once you’ve completed the withdrawal request, the cryptocurrency will be sent to the destination wallet address you provided. The withdrawal process usually takes a few minutes to a few hours, depending on the blockchain network’s congestion and the Paribu Exchange’s processing time.

It’s important to note that Paribu may have withdrawal limits based on your account level, and you may need to complete the KYC (Know Your Customer) process and verify your account before you can withdraw cryptocurrency from Paribu.

How To Secure Your Exmo Account ?

To secure your Paribu account, you can take the following steps:

1. Enable Two-Factor Authentication (2FA): Paribu offers 2FA security using Google Authenticator. By enabling 2FA, you can add an extra layer of security to your account and protect it from unauthorized access.
2. Use a Strong Password: Choose a strong password that includes a mix of upper and lower case letters, numbers, and special characters. Avoid using passwords that are easy to guess, such as your name or birthdate.
3. Keep Your Account Information Safe: Do not share your account information, such as your password or 2FA code, with anyone. Be cautious of phishing scams and fake Paribu websites or emails that may ask you for your account details.
4. Monitor Your Account Activity: Regularly check your account activity to ensure there are no unauthorized transactions or login attempts. If you notice any suspicious activity, immediately change your password and contact Paribu customer support.
5. Use a Secure Network: Avoid using public Wi-Fi or unsecured networks to access your Paribu account. Use a secure and private network to ensure the confidentiality of your account information.
6. Keep Your Devices Secure: Use anti-virus and anti-malware software to protect your devices from potential threats. Keep your devices up to date with the latest security patches and avoid downloading apps or software from untrusted sources.

By following these steps, you can help protect your Paribu account and your cryptocurrency assets.

Fees taken when buying virtual currency

Paribu charges fees for buying virtual currency, which vary depending on the transaction type and the cryptocurrency you’re buying. Here’s an overview of the fees:

• Deposit Fees: Paribu doesn’t charge any deposit fees for cryptocurrencies. However, there may be fees charged by the blockchain network for sending transactions.
• Withdrawal Fees: Paribu charges withdrawal fees for cryptocurrencies, which vary depending on the cryptocurrency you’re withdrawing. You can view the withdrawal fees by clicking on the “Deposit/Withdraw” button on the Paribu platform.
• Trading Fees: Paribu charges a trading fee for each buy and sell order you place on the platform. The trading fee varies depending on your account level and the cryptocurrency pair you’re trading. For example, the maker fee for BTC/TRY pair ranges from 0.05% to 0.20% and the taker fee ranges from 0.10% to 0.25%.
• Other Fees: Paribu may charge additional fees for services such as credit card purchases, OTC (Over-the-Counter) trades, or margin trading.

It’s important to note that Paribu’s fee structure may change over time, so make sure to review the fee schedule on the Paribu platform before making any transactions.

Trade On Go Paribu Is 100% Mobile Friendly

Yes, Paribu’s mobile app, called “Trade on Go,” is designed to be 100% mobile-friendly and offers a user-friendly trading experience. The app is available for both Android and iOS devices and can be downloaded from the respective app stores.

With the Trade on Go app, you can access all of Paribu’s features, including buying and selling cryptocurrencies, depositing and withdrawing funds, viewing your account balances, and managing your open orders. The app also supports real-time market data and charting tools to help you track the cryptocurrency prices and make informed trading decisions.

The Trade on Go app is designed to be secure, and it uses the same security features as the Paribu web platform, such as two-factor authentication and encryption. By using the mobile app, you can trade cryptocurrencies on the go, anytime and anywhere, from your mobile device.

How To Contact Paribu Customer Support Team?

If you need assistance or have any questions about using the Paribu platform, you can contact their customer support team through the following channels:

1. Live Chat: You can access the Paribu live chat feature by clicking on the “Live Chat” button located at the bottom right corner of the website or mobile app. You can chat with a Paribu representative in real-time and get immediate assistance.
2. Email: You can send an email to Paribu’s customer support team at [email protected]. They usually respond to email inquiries within 24-48 hours.
3. Social Media: You can also contact Paribu’s customer support team through their social media channels, such as Twitter or Facebook. They often respond to direct messages on social media platforms.

It’s important to note that Paribu’s customer support team primarily communicates in Turkish, as Paribu is a Turkish cryptocurrency exchange. However, they may have English-speaking representatives available to assist you. Before contacting customer support, you may also want to check Paribu’s FAQ section and help center, which provides answers to common questions and issues.

Features Of Paribu Crypto Exchange

Wide Range of Cryptocurrencie

Paribu offers a wide range of cryptocurrencies for trading, including popular coins like Bitcoin, Ethereum, Litecoin, and Ripple, as well as lesser-known altcoins.

Mobile-Friendly Platform

Paribu’s mobile app, “Trade on Go,” is designed to be 100% mobile-friendly and offers a user-friendly trading experience.

High Liquidity

Paribu has high liquidity for the Turkish Lira (TRY) market, making it easy to buy and sell cryptocurrencies quickly and at competitive prices.

Competitive Fees

Paribu’s fees for buying, selling, and trading cryptocurrencies are generally competitive compared to other exchanges in the region.

Strong Security

Paribu uses advanced security measures to protect its platform and users’ funds, including two-factor authentication, SSL encryption, and cold storage for the majority of funds.

Fast Customer Support

Paribu offers fast and responsive customer support through live chat, email, and social media channels.

Trading Tools

Paribu provides traders with access to real-time market data and charting tools, enabling them to make informed trading decisions.

Paribu Good Or Bad Points

Here are some potential good and bad points of Paribu:

Good points:

• Wide range of cryptocurrencies available for trading
• High liquidity for Turkish Lira (TRY) market
• Competitive fees for buying, selling, and trading cryptocurrencies
• Advanced security measures to protect users’ funds
• Mobile-friendly platform with a user-friendly trading experience
• Fast and responsive customer support

Bad points:

• Paribu is primarily focused on the Turkish market, so it may not be as attractive to international users
• The trading volume for some altcoins may be relatively low, which could lead to less liquidity and higher volatility
• Paribu’s trading fees can be relatively high for low-volume traders
• Paribu’s withdrawal fees can be high for some cryptocurrencies

Overall, Paribu is a reputable and reliable cryptocurrency exchange that offers a range of features for traders. However, it may not be the best option for all traders, especially those outside of Turkey or those looking to trade low-volume altcoins. It’s important to do your own research and compare different exchanges to find the one that best meets your trading needs.

Is Paribu Is Safe Platform To Trade ?

Paribu is generally considered a safe platform to trade cryptocurrencies. The platform has a strong focus on security, and they use advanced security measures to protect their users’ funds and personal information. Some of the security features Paribu has implemented include:

1. Two-Factor Authentication: Paribu requires users to enable two-factor authentication (2FA) when logging in or making transactions. This adds an extra layer of security to the user’s account, making it harder for hackers to gain unauthorized access.
2. SSL Encryption: Paribu uses SSL encryption to protect user data and communications from being intercepted by unauthorized parties.
3. Cold Storage: The majority of users’ funds are stored in cold storage, which means they are kept offline and away from potential hacking attempts.
4. KYC Verification: Paribu requires users to complete a Know Your Customer (KYC) verification process to ensure they are who they claim to be. This helps prevent fraud and identity theft.
5. Secure API: Paribu’s API is designed to be secure and requires users to authenticate before making any API calls.

In addition to these security features, Paribu also has a dedicated team of security experts who constantly monitor the platform for potential security threats and take immediate action if any issues arise.

Overall, while no exchange can guarantee complete safety, Paribu takes security seriously and has implemented a range of measures to protect its users’ funds and personal information.

Paribu Conclusion

In conclusion, Paribu is a reliable and reputable cryptocurrency exchange that offers a range of features for both novice and experienced traders. It has a wide range of cryptocurrencies available for trading, high liquidity for the Turkish Lira (TRY) market, and a mobile-friendly platform with a user-friendly trading experience. Paribu also offers competitive fees for buying, selling, and trading cryptocurrencies and provides traders with access to real-time market data and charting tools.

Additionally, Paribu places a strong focus on security, with advanced security measures in place to protect users’ funds and personal information. The platform has a fast and responsive customer support team and offers several ways to contact them. However, Paribu may not be the best option for all traders, especially those outside of Turkey or those looking to trade low-volume altcoins.

Ultimately, it’s important to do your own research and compare different exchanges to find the one that best meets your trading needs. If you are looking for a reliable and reputable exchange with a strong focus on security and a user-friendly platform, Paribu is definitely worth considering.

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