How to use Paribu
What is Paribu
Paribu is a cryptocurrency exchange platform based in Turkey. It was founded in 2017 and has become one of the leading cryptocurrency exchanges in Turkey, offering a variety of trading pairs, including Bitcoin, Ethereum, Litecoin, and many others.
Paribu allows users to buy and sell cryptocurrencies using Turkish Lira (TRY), and it also offers trading with other cryptocurrencies, such as Bitcoin and Ethereum. The platform provides a user-friendly interface for both novice and experienced traders, and it has implemented various security measures to protect users’ assets.
In addition to trading services, Paribu also offers a mobile app for iOS and Android devices, as well as educational resources and market analysis tools to help users make informed investment decisions. Overall, Paribu is a popular choice for traders looking to buy and sell cryptocurrencies in Turkey.
The history of Paribu
Paribu was founded in 2017 by Yasin Oral and Özgür Güneri, who had previously worked together on various tech startups. The founders saw the potential for cryptocurrency trading in Turkey and aimed to create a user-friendly platform to help people access this emerging market.
The platform quickly gained popularity in Turkey, and in its first year of operation, it reached 1 million registered users. Paribu also formed partnerships with local banks, which allowed users to deposit and withdraw Turkish Lira from their Paribu accounts.
In 2018, Paribu announced that it had raised $2 million in funding from various investors, including the Turkish venture capital firm, Accelerator Technology Holdings (ATH). This funding allowed the company to expand its operations and develop new features, such as mobile trading apps for iOS and Android devices.
In 2019, Paribu was one of several Turkish cryptocurrency exchanges to be targeted by a hacking attack. However, the company was able to quickly respond to the incident and reported that no user funds were lost in the attack. In response, Paribu implemented additional security measures, such as two-factor authentication, to further protect user accounts.
Today, Paribu remains one of the leading cryptocurrency exchanges in Turkey, with over 4 million registered users and a variety of trading pairs available. The platform continues to expand its services and is committed to providing a secure and user-friendly experience for its customers.
How Paribu works
Paribu is a cryptocurrency exchange that allows users to buy and sell various cryptocurrencies using Turkish Lira (TRY). The platform uses algorithms to facilitate trades and ensure that they are executed quickly and efficiently.
When a user places an order on Paribu, the platform uses an algorithm to match the order with the best available offer on the exchange. This process is known as order matching, and it ensures that users are able to buy or sell cryptocurrencies at the most favorable price available.
Paribu also uses algorithms to monitor the market and provide users with real-time pricing information. The platform offers a variety of charting and analysis tools to help users make informed investment decisions based on market trends and historical data.
In addition, Paribu uses advanced security algorithms to protect user accounts and assets. The platform stores the majority of user funds in offline, cold storage wallets, which are more secure than online, hot wallets. Paribu also implements two-factor authentication and other security measures to prevent unauthorized access to user accounts.
Overall, Paribu’s algorithms play a crucial role in the platform’s ability to offer fast, secure, and reliable cryptocurrency trading services to users in Turkey.
Does Paribu charge a fee
Yes, Paribu charges fees for trading on its platform. The fees vary depending on the type of trade, the trading pair, and the user’s trading volume.
For example, the basic trading fee for buying or selling cryptocurrency on Paribu is 0.15%, but the fee can be lower for users with higher trading volumes. In addition, Paribu may charge additional fees for certain types of transactions, such as deposits or withdrawals.
It’s important to note that Paribu’s fee structure is subject to change, and users should check the platform’s website or mobile app for the most up-to-date information on fees.
Overall, while there are fees associated with trading on Paribu, they are generally considered to be competitive with other cryptocurrency exchanges, and the platform offers a variety of tools and features to help users make informed investment decisions.
How to use Paribu
Here is a step-by-step guide on how to use Paribu:
- Create an Account: Visit the Paribu website at www.paribu.com and click on the “Sign Up” button to create an account. You will need to provide your name, email address, and create a password to register.
- Complete Account Verification: Once you have created an account, you will need to complete a verification process to activate your account. To do this, go to the “Account” tab and click on “Verification.” Follow the instructions to provide your personal information and upload a copy of your government-issued ID.
- Add Funds to Your Account: After your account is verified, you can add funds to your account by going to the “Deposit” tab and selecting your preferred payment method. Paribu allows users to deposit Turkish Lira (TRY) using bank transfers or credit/debit cards.
- Place an Order: Once you have funds in your account, you can place an order to buy or sell cryptocurrency. To do this, go to the “Buy/Sell” tab and select the cryptocurrency you want to trade. Enter the amount you want to buy or sell and click “Place Order.”
- Monitor Your Trade: After placing your order, you can monitor your trade in the “Open Orders” tab. If your order is filled, the cryptocurrency will be deposited into your Paribu account, and you can withdraw it to an external wallet if desired.
- Use Additional Features: Paribu offers a variety of additional features, such as charting tools, market analysis, and mobile trading apps. Explore the platform to see what features are available and how they can help you with your cryptocurrency trading.
Remember to always use caution when trading cryptocurrencies and only invest what you can afford to lose.
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