The number of Turkish citizens who are familiar with Bitcoin has been growing steadily since 2020. There is no doubt that BTC is among the top trending cryptos in Turkey. It’s estimated that two out of five Turkish residents currently hold crypto. If you have made some profit hodling your Bitcoins for some time, you may be looking for ways to easily cash out your earnings now. Turkish cryptocurrency enthusiasts have several options to sell their assets for cash. This guide will explore the different methods so that you can choose the most convenient way to withdraw your BTC.
How Do I Exchange My Bitcoins for Cash in Turkey in 2024?
Some of the easiest methods of exchanging your BTC for cash in Turkey include:
NakitCoins
NakitCoins is one of the best crypto cash-out options for Turkish residents. This popular physical Bitcoin shop has been active in the country’s crypto space since 2017, with multiple branches, including in Istanbul. Are you wondering how to exchange bitcoins for cash with NakitCoins instantly? Don’t worry. Turning your BTC into cash with NakitCoins is as easy as visiting a nearby on-site office to complete your transaction in a safe and secure environment. The advantages of using NakitCoins to cash out your bitcoin are numerous. For example, it enables you to transact at low fees without any limits.
Binance
Over $2 billion worth of Bitcoin transactions are completed every day, with the majority of them happening on the world’s largest online bitcoin platform, Binance. Binance is convenient for many cryptocurrency enthusiasts because it offers several ways to sell bitcoin for cash. Users simply need to evaluate which one is the best for them, and they can cash out their funds instantly. With a domestic wire transfer, you can expect your transaction to get processed within 24 hours depending on your region.
Those who use the Single Euro Payment Area (SEPA) method to cash out their Bitcoins on Binance may have to wait for a few seconds or two business days to get their cash. SWIFT Transfers typically take one to five working days to finish processing on Binance. Please take note that the bank processing a SWIFT payment on Binance may also charge you about 3-4% as part of their service.
Paxful Peer-to-Peer Site
Another alternative method of selling your BTC for cash is to use the Paxful peer-to-peer exchange, which has over 350 payment options, including credit card and gift card. Paxful users can transact with over 12 million cryptocurrency users globally. Peer-to-peer platforms, including Binance, permit traders to sell their assets directly to one another on the platform. You can even meet your trading partner in person to exchange your bitcoin for cash where possible. P2P platforms also permit traders to sell their crypto online in exchange for popular fiat currencies such as the US Dollar. Once you start a P2P trade, the exchange locks the funds in the escrow account until payment is confirmed by both parties. Paxful will release the crypto for the buyer as soon as the seller confirms that they have received cash from the buyer.
Consider using any of the above options to cash out your bitcoins in Turkey hassle-free in 2024.
