Paribu cryptocurrency exchange is a centralized cryptocurrency exchange (CEX) based in Istanbul, Turkey. It offers 24 hours a day 7 days a week services of fast buying, selling, depositing, and withdrawing, as well as infrastructure suitable for high-volume transactions.
Because Paribu crypto exchange is a CEX, a potential user needs to perform a KYC identification positively. Name, surname, and identity number are required. Personal information needs to be provided completely and correctly, and all information should be written precisely as on the identity document. The user’s personal information is kept encrypted and will never be shared with third parties, and it cannot be used for any purpose other than to approve your account.
Services of Paribu are not officially restricted in other countries. However, the main target of this exchange is Turkish citizens or people living in Turkey and speaking the Turkish language. In order to proceed with KYC identification, a Turkish phone number is required.
In addition to a simple-to-use website, the Paribu cryptocurrency exchange offers a mobile trading application with a good user experience. Specific token Paribu volume information is provided via the interface. However, both platforms - website and mobile app are available in Turkish language only.
What is unique about the Paribu crypto exchange is that it only supports fiat-crypto trading. On the exchange, users can find 97 assets and 107 Paribu trading pairs.
All the top trading pairs by volume are linked to the Turkish Lira (TRY). There are currently no crypto-to-crypto trading pairs other than with Tether (USDT) – a stablecoin directly connected with USD. Contrary to Paribu spot trading, derivative, margin, or leverage transactions are not available. As Paribu does not support inter-crypto trading, it also does not have its own native currency.
In regard to Paribu exchange fees, they are grouped into specific tires by the trading volume in Turkish Lira. Fees also vary depending on the party entering the transaction. The maker, whose order exists on the order book before the trade, pays the smaller fee, as he makes the liquidity in a market. The taker, as he removes the liquidity by placing the order that matches the maker’s order, pays a slightly higher fee.
Paribu crypto fees are determined according to the trading volume of the last 30 days. Daily volume calculation is made automatically at 00:00 every day. Maker fees range from 0.01% to 0.25%, while taker fees range from 0.1% to 0.35%.
All Paribu crypto prices are paid with Turkish Lira. If a user wants to deposit it to his account, he can do it through a transfer from his bank account or Papara.
This exchange provides a feature called open orders. The realization of a transaction is only possible if the user meets the offer at the price requested. If a user’s buy/sell order does not correspond to the price requested, an order will hold a position at a specified price. Open orders continue to hold for the specified price unless they are executed or canceled.
About the Company
Paribu crypto exchange was founded in Turkey in April 2017 by a team of highly skilled developers led by Yasin Oral. As the scope of crypto investments and activities has significantly increased in Turkey, Paribu became a market leader in a considerably short period of time. In December 2017, Paribu reached 5,800 BTC volume. In March 2021, the exchange took third place worldwide with a transaction volume of $1.5 billion.