Paribu

Paribu Exchange

Paribu is a prominent centralized cryptocurrency exchange, established in February 2017 and based in Istanbul, Turkey. It has grown to be one of the largest and most active crypto platforms in Turkey, primarily serving the local market with strong Turkish Lira (TRY) integration. Paribu is currently navigating Turkey's evolving and tightening crypto regulatory landscape.

Key Features:

• Dominant in Turkey: Paribu holds a significant market share in Turkey, boasting around 7 million users and offering substantial liquidity for Turkish Lira (TRY) trading pairs.
• Fiat Integration: Supports TRY deposits and withdrawals 24/7 via various Turkish banks (e.g., Akbank, Ziraat Bank, Yapı Kredi, Vakıfbank, Fibabanka).
• Wide Asset Selection: Lists a broad range of cryptocurrencies, including major assets like Bitcoin (BTC), Ethereum (ETH), XRP, and Tether (USDT), along with numerous altcoins and fan tokens.
• User-Friendly: Offers an "Easy Buy/Sell" option and mobile applications for a streamlined user experience.
• Security Focus: States that user assets are stored in secure cold wallets and implements up-to-date security measures, including 2FA. It also mentions continuous efforts to establish security standards.
• Competitive Fees: Applies a tiered commission rate system that decreases as a user's trading volume increases, potentially going down to 0.01%. USDT trading pairs often have zero commission.
• Paribu Net (PRB) Blockchain: Paribu also developed its own blockchain network, Paribu Net, with a native token (PRB) for transaction fees, staking, and governance within its ecosystem.

Regulatory Context and Incidents:

• Evolving Turkish Regulations: Turkey introduced a new legal framework for crypto assets in July 2024 and further tightened rules in March 2025. Crypto asset service providers like Paribu are now required to obtain a license from the Capital Markets Board of Türkiye (CMB) and meet stringent capital, custody, and AML/KYC requirements. Paribu, as an existing operator, would be in the process of complying with these new rules and applying for the necessary licenses.
• No Major Reported Hacks: While the Turkish crypto market has seen incidents with other exchanges (e.g., Thodex, Vebitcoin collapses), no major hacking incidents involving significant user fund losses have been widely reported for Paribu itself. Its CEO emphasized continuous security measures and transparency in past statements.
• User Complaints (Minor): Some user complaints on platforms like Xolvie mention issues like withdrawal delays (often resolved), password reset errors, or temporary access problems, common for large exchanges. Language barrier (lack of English) is also a frequent comment from non-Turkish users.

Summary:

Paribu is a leading and active cryptocurrency exchange in Turkey, well-regarded for its extensive Turkish Lira support, wide range of digital assets, and user-friendly platform. It is currently operating within Turkey's tightening regulatory environment, which requires exchanges to obtain licenses and adhere to strict financial and security standards. While minor user complaints exist, Paribu maintains a strong presence and continues to develop its ecosystem (e.g., Paribu Net). It stands as a key platform for crypto trading within Turkey, subject to ongoing regulatory compliance.