If you're in Turkey and want to buy Bitcoin or Ethereum without jumping through hoops, Koinim might be the easiest option you’ve got. Launched in April 2013, it’s one of the oldest crypto platforms in the country, built specifically for people who use Turkish Lira (TRY). No USD. No EUR. Just TRY. That’s the whole point.
Most global exchanges like Binance or Coinbase force you to convert your money first-often with bad rates and extra fees. Koinim cuts that out. You deposit Turkish Lira directly from your bank account, buy crypto, and sell back to TRY-all in minutes. For Turkish users, that’s a huge time and cost saver.
What You Can Trade on Koinim
Koinim doesn’t try to be everything to everyone. It’s focused. Right now, it supports only seven cryptocurrencies. The big ones: Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), and Bitcoin Cash (BCH). That’s it. No Solana. No Dogecoin. No Polkadot. If you’re looking to diversify into altcoins beyond the top four, you won’t find them here.
This isn’t a flaw for everyone. If you’re new to crypto and just want to buy Bitcoin without getting overwhelmed, Koinim’s simple interface works. No confusing charts. No margin trading. No futures. Just spot trading. You buy. You sell. You hold. No leverage. No complex orders. It’s designed for people who want to invest, not gamble.
How Koinim Handles Payments
Depositing money is straightforward-if you have a Turkish bank account. You can send TRY via bank transfer (Havale/EFT), or use a debit or credit card. Credit card deposits are available, contrary to some outdated reports. But here’s the catch: you need to be physically in Turkey and have a local bank account. International users? Forget it. The platform doesn’t accept foreign currencies or non-Turkish IDs.
Withdrawals work the same way. Sell your crypto, get TRY back to your Turkish bank. Processing time is usually under 24 hours, often faster. No hidden fees are listed publicly, but users report withdrawal charges of around 10-20 TRY depending on the method. Trading fees are flat at 0.1% per transaction, which is average for local exchanges but higher than Binance’s 0.1% for VIP users.
Security and Verification
Koinim requires full identity verification before you can trade. You need to upload your Turkish ID card or passport, plus a selfie holding it. This isn’t unusual-most regulated exchanges do this. But here’s where things get tricky: Koinim isn’t licensed by any official financial authority in Turkey. There’s no BDDK or CMB oversight. That means if something goes wrong-hack, scam, platform shutdown-you have no legal recourse.
That said, the platform hasn’t been hacked since launch. Their infrastructure, built on Django and Celery, was upgraded in 2022 with help from STX Next. That upgrade boosted their system capacity by 300%, letting them handle four times more traffic during price spikes. So technically, it’s reliable. But reliability isn’t the same as regulation.
Customer Support and Usability
Koinim’s biggest win? 24/7 customer support in Turkish. You can chat live, send an email, or call. Most users say responses come within minutes during peak hours. That’s rare in crypto. Many global exchanges take days to reply, if at all.
The website is clean and simple. It’s built with Angular and jQuery, so it loads fast even on older devices. But everything is in Turkish. The buttons, the help docs, the terms of service-all Turkish. If you don’t speak the language, you’re stuck. Google Translate won’t cut it for trading decisions. One user said, “I tried to log in with my English phone, but the app wouldn’t even let me proceed without Turkish ID.”
Who Is Koinim For? Who Should Avoid It?
Koinim is perfect if:
- You live in Turkey
- You want to buy Bitcoin or Ethereum with TRY
- You prefer simple, no-frills trading
- You value local customer support
Koinim is NOT for you if:
- You’re outside Turkey
- You want to trade 50+ altcoins
- You need margin trading or futures
- You want a regulated exchange with legal protection
For international users, the alternatives are clear: Binance, Kraken, or Coinbase. They support dozens of currencies, have global compliance, and offer advanced tools. But they also make you convert your money, pay conversion fees, and deal with language barriers.
The Big Trade-Off: Convenience vs. Control
Koinim gives you convenience. You don’t need to juggle multiple platforms. You don’t need to understand foreign banking. You just log in, deposit TRY, buy BTC, and sleep easy. But you’re giving up control. No regulatory safety net. No insurance. No legal rights if the platform disappears tomorrow.
That’s the Turkish crypto reality. The government doesn’t ban trading-it bans crypto payments. So exchanges like Koinim operate in a gray zone. They’re not illegal, but they’re not protected either. That’s why some users keep only small amounts on Koinim and move the rest to cold wallets.
Future Outlook: Can Koinim Survive?
Koinim has stayed alive for over a decade. That’s rare in crypto. It survived the 2018 crash, the 2021 boom, and Turkey’s inflation surge. Its partnership with STX Next shows it can scale when needed. But its future depends on one thing: Turkish regulation.
If Turkey starts requiring licenses, Koinim might struggle. If it gets approved, it could grow. If the government cracks down on crypto altogether, it could vanish overnight. That’s the risk of using a local, unregulated exchange.
Right now, Koinim is the most practical option for Turkish residents who want to enter crypto without complications. But it’s not a long-term storage solution. Treat it like a cash register, not a vault.
Getting Started in 2026
If you’re ready to try Koinim:
- Go to koinim.com (always double-check the URL-scams copy the site)
- Click “Sign Up” and enter your Turkish phone number
- Upload your Turkish ID and a selfie holding it
- Wait 1-2 hours for verification (usually faster)
- Deposit TRY via bank transfer or card
- Buy BTC, ETH, or LTC
Once you’re in, keep your account secure. Enable two-factor authentication (2FA). Don’t share your password. And never store large sums on the exchange. Move your crypto to a hardware wallet like Ledger or Trezor after buying.
Is Koinim safe to use in 2026?
Koinim is technically reliable-it hasn’t been hacked since 2013 and handles high traffic well. But it’s not regulated by any Turkish financial authority. That means there’s no legal protection if the platform fails or disappears. Use it for small, short-term trades, not long-term storage.
Can I use Koinim if I’m not in Turkey?
No. Koinim only accepts Turkish citizens with Turkish ID cards. You must have a Turkish bank account to deposit or withdraw TRY. International users cannot sign up, even with a VPN.
What cryptocurrencies does Koinim support?
Koinim supports seven cryptocurrencies: Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Bitcoin Cash (BCH), Ripple (XRP), Cardano (ADA), and Solana (SOL). But BTC and LTC are the most liquid pairs, with the deepest trading volume against TRY.
Does Koinim charge withdrawal fees?
Yes. Withdrawal fees vary by method. Bank transfers (Havale) cost around 10-20 TRY. Crypto withdrawals have fixed network fees (e.g., 0.0005 BTC for Bitcoin). These are standard and clearly listed on the platform before you confirm the transaction.
Is Koinim better than Binance for Turkish users?
For simple TRY-to-crypto trades, Koinim is easier. You avoid currency conversion fees and get Turkish support. Binance has more coins and lower fees, but you need to convert TRY to USD or EUR first, which adds cost and complexity. Koinim wins on convenience. Binance wins on choice.
Can I use Koinim on my phone?
Yes. Koinim has a mobile app for Android and iOS. It’s lightweight and works well, even on older phones. The interface is identical to the website, so if you’re comfortable on desktop, you’ll be fine on mobile. Just make sure you download the app from the official app stores-never from third-party links.
If you’re in Turkey and want to start buying crypto without the hassle of international platforms, Koinim still holds up. It’s not flashy. It’s not global. But for its target audience, it does one thing well: turn Turkish Lira into Bitcoin, fast and simple. Just remember-keep it small, keep it secure, and never trust it with your life savings.
Shawn Roberts
Koinim is literally the only way I’ve bought BTC in Turkey 😍 No more converting USD and getting screwed by banks. Just deposit TRY and boom-BTC in 5 mins. Life changer.