Facts about BtcTurk exchange
Being established in 2013, BtcTurk became the 1st crypto exchange in Turkey. After rebranding, the exchange is known as BtcTurk Pro. The platform is registered with the Istanbul Chamber of Commerce.
According to CoinGecko, at the time of writing (November 2022), this centralized cryptocurrency exchange provides its users with access to 68 coins and 161 trading pairs.
Why list on BtcTurk
BtcTurk is one of the best exchanges in Europe in terms of organic investors seeking to trade with each other. It is a great platform to list your token on. However, BtcTurk is still catching up with the listing on the TOP 100 coins, so it is not easy to approach them and gain attention with your startup token.
BtcTurk’s score metrics
When choosing a venue for listing, it is important to check its reputation and general rank in comparison to other exchanges. A good choice is to check how CoinGecko, CoinMarketCap and Nomics rate the exchange.
CoinGecko uses Trust Score, a rating algorithm evaluating the legitimacy of an exchange’s trading volume. Trust Score is calculated on a range of metrics such as liquidity, scale of operations, cybersecurity score, and more. BtcTurk’s Trust Score is 8. Only 10% out of more than 500 cryptocurrency platforms have Trust Score 8 or higher.
CoinMarketCap’s Exchange Score is based on the following factors:
- Web Traffic
- Average Liquidity & Volume
- the Confidence that the volume reported by an exchange is legitimate. Weights are assigned to the above-mentioned factors and a score from 0.0 to 10.0 is given to the Spot Exchange.
BtcTurk’s Exchange Score is 4.7.
Nomics’ metric is called Impact Score – and represents an exchange’s influence on the price of assets it trades. The score is a combination of web traffic, volume, and other factors.
BtcTurk’s Impact Score is 5.24.
Listing on BTCTurk with our help
We can support you in listing your token and managing liquidity on BtcTurk and other exchanges. The usual process looks like this:
- We set up a call to understand the phase of your project. The following points will be discussed:
- Are you already listed on DEXes or CEXes?
- What is the tokenomy of your project?
- Do you have a listing strategy for your token?
- We discuss the best possible liquidity strategy for your project.
- If we agree to set up a partnership, we introduce you to verified managers of one or more exchanges (listing support).
- After your project gets listed on an exchange, we help you build your markets on platforms.
Why do I need a market maker?
Managing a token startup is a real challenge. As a cryptocurrency project, you need to focus on building your products and services and leave liquidity to market makers.
A market maker will help you:
- deepen the liquidity on your token’s books and make them more stable – which helps mitigate the price fluctuations of your coin
- lower spreads between bids and asks so that the prices get fairer for investors; that reduces the cost of entering and exiting positions and encourages investors to trade your coin
In the 24/7 cryptocurrency markets, well-managed assets are supported by algorithmic market makers. They provide liquidity through their market-making services, supported by fully automated software algorithms. Empirica’s liquidity products are reputable top-notch algorithmic market making solutions.
SCHEDULE AN APPOINTMENT WITH US TO DISCUSS THE LISTINGS AND BUILDING THE LIQUIDITY OF YOUR MARKETS
WHERE IS BTCTURK LOCATED?
The exchange is registered and headquartered in Turkey, Istanbul.
WHAT IS BTCTURK’S DAILY TRADING VOLUME?
As it was reported by Coingecko on October 12, 2022, the platform’s 24h trading volume was $115,489,418.
IN WHAT COUNTRIES IS BTCTURK AVAILABLE?
Although the key target audience of Bitkub is citizens of Turkey, users from other countries also have the possibility to comfortably use the services of the exchange. Residents practically of all the countries of the world are allowed to use BTCTurkif crypto trading is not considered to be illegal in their states.
WHAT IS A CENTRALIZED EXCHANGE (CEX)?
It is a digital asset marketplace using a similar business model to traditional asset platforms like stock exchanges.
Centralized crypto venues typically keep limit order books, which are lists of open buy and sell orders, consisting of volumes and prices. They match up buyers and sellers and announce current market prices based on the last price an asset sells for.
WHAT IS TOKEN LIQUIDITY?
This term refers to the ease with which tokens can be swapped for other assets (other crypto assets or government-issued fiat currencies).
WHO ARE MARKET MAKERS?
A market maker is a company or individual that regularly buys and sells financial assets at a publicly quoted price to provide liquidity to the financial or digital asset markets. Their role is to satisfy market demand. Market making is also used as a profit generation trading strategy by hedge funds.