PARiBU

What is PARiBU？

PARiBU is a cryptocurrency exchange founded in Turkey in 2017. They offer trading for over 100 cryptocurrencies. When it comes to fees, if you're the maker, it's 0.25%, and if you're the taker, it's 0.35%. The 24-hour trading volume is around $1 million.

Pros and cons

PARiBU excels in these areas:

• Choose from a selection of over 100 cryptocurrencies for trading.

• Enjoy the option of margin trading to explore different strategies.

• Utilize stop-loss orders for added risk management in your trades.

• Conveniently trade with support for the Turkish lira currency.

PARiBU lacks these areas:

• Higher taker fees, sitting at 0.35%, which might dig into your trades a bit more.

• The customer support side of things isn't exactly shining here, so don't expect quick answers.

• When you're thinking about cashing out, it seems like the withdrawals might take a little longer than you'd want.

• On the regulatory side, there's no big financial watchdog keeping an eye on this exchange, so keep that in mind.

• Now, if you're not fluent in Turkish, navigating this platform could be a bit of a puzzle, so be ready for that.

• And last but not least, no staking rewards up for grabs here.

Regulation

Paribu doesn't have a big financial regulator watching over it. That means there's no official group making sure everything's legit and safe. Some traders might worry about this, especially if they want an exchange with rules. To play it safe, you can visit wikibit to check if an exchange is regulated to avoid losing your money.

Security

Paribu boasts that it took a bunch of steps to make sure your funds are well-protected. They include:

• Cold storage: The majority of Paribu's user funds are stored in cold storage, which means that they are not connected to the internet and are therefore not vulnerable to hacking attacks.

• Multi-signature wallets: Paribu uses multi-signature wallets for some of its user funds. This means that multiple people need to sign off on a transaction before it can be processed. This makes it more difficult for unauthorized individuals to access user funds.

• Two-factor authentication (2FA): Paribu requires users to enable 2FA for their accounts. This adds an extra layer of security by requiring users to enter a code from their phone in addition to their password when logging in.

Trading Markets

PARiBU supports a wide selection of cryptocurrencies, encompassing popular assets like Bitcoin (BTC), Ethereum (ETH), Tether (USDT), Binance Coin (BNB), and many more. They also offer lesser-known cryptocurrencies with promising potential, providing traders with diverse investment opportunities.

Cryptocurrencies available

Paribu currently lists over 100 cryptocurrencies, including Bitcoin, Ethereum, Tether, USD Coin, Binance Coin, XRP, Cardano, Solana, Terra, and meme coins like Dogecoin and Shiba Inu.

You can find the full list of cryptocurrencies available here: https://www.paribu.com/market.

Paribu typically lists new cryptocurrencies within 7 days of receiving the application. This is still faster than some other cryptocurrency exchanges.

Other Services

PARiBU offers a revamped infrastructure with top-notch security to safeguard users' assets. The platform provides an advanced wallet system, allowing users to easily manage their assets, review transfer history, and conduct instant asset transfers.Transactions on PARiBU are designed to be fast and secure. Users can analyze detailed price charts for cryptocurrencies and execute transactions seamlessly with the Easy buy/sell option.

How to open an account？

The registration process of PARiBU can be completed in six steps:

1. Visit the PARiBU website and click on the “Create Account” button.

2. Fill in the required personal information, such as name, email address, and password.

3. Agree to the terms and conditions of the exchange.

4. Verify your email address by clicking on the verification link sent to your registered email.

5. Complete the KYC (Know Your Customer) process by providing necessary identification documents, such as government-issued ID and proof of address.

6. Once your account is verified, you can fund your account and start trading on PARiBU.

How to Buy Cryptos？

To buy cryptocurrencies on PARiBU, you can follow a straightforward process:

1. Sign Up:Start by creating an account on PARiBU. Provide your email, set a password, and follow any on-screen instructions to register.

2. Verify Your Identity:Verify your identity by submitting required documents. This step ensures security and compliance with regulations.

3. Deposit Money:Deposit Turkish Lira or other supported assets into your PARiBU account. You can do this through various methods like bank transfers.

4. Start Investing:Once your account is funded, go to the trading section. Choose the cryptocurrency you want to buy, enter the amount, and confirm your purchase.

Fees

Paribu's maker fee of 0.25% is in line with the industry average, but its taker fee of 0.35% is higher than the industry average.

Here is a table of the maker and taker fees for some of the most popular cryptocurrency exchanges:

Exchange	Maker	Taker
Binance	0.10%	0.10%
Coinbase Pro	0.05%	0.05%
Kraken	0.15%	0.26%
Huobi Global	0.20%	0.20%
Paribu	0.25%	0.35%

As you can see, Paribu's taker fee of 0.35% is higher than the taker fees of all of the other exchanges listed. This means that traders on Paribu will pay more in fees than traders on other exchanges.

Deposit & Withdrawal

At Paribu, you can use wire transfers to deposit money. Unfortunately, credit cards aren't an option. They only accept Turkish Lira (TRY) deposits, which might not work for non-Turkish traders. When you take out BTC, there's a withdrawal fee of 0.0005 BTC. This fee is actually lower than what most other places charge.



Educational Resources

PARiBU provides various educational resources to support traders in their learning and trading journey. These resources may include trading guides, video tutorials, and webinars. They aim to help users understand the basics of trading, enhance their knowledge about virtual currencies, and improve their trading strategies.

In addition to these resources, PARiBU may also have community support and communication platforms such as forums and social media groups. These platforms allow traders to interact with each other, share experiences, and seek advice or insights from fellow traders. Engaging in these communities can provide valuable information and perspectives to help traders make informed trading decisions.

It is important to note that the extent and availability of educational resources and community support can vary, and it is advisable for users to explore PARiBU's official website or contact their customer support for detailed information on the specific educational resources and community platforms offered by the exchange.

Customer Support

When it comes to customer support, PARiBU isn't exactly on point. They don't make phone calls, emails, or online chats. But you can find them hanging out on YouTube, LinkedIn, Instagram, Facebook, and Twitter.

Is PARiBU a Good Exchange for You？

PARiBU emerges as a favorable exchange for diverse groups of traders. It particularly caters to those seeking a broad selection of cryptocurrencies, providing ample choices for varied investment strategies. Additionally, for traders valuing expeditious coin listings, PARiBU stands out with its swift and efficient process. Notably, the exchange seems especially well-suited for Turkish traders, offering a platform tailored to their preferences and needs.

PARiBU appears to be a good exchange for traders in the following types:

• Traders who are looking for a wide variety of cryptocurrency choices

• Traders who are looking for a fast coin listing process

• Traders who are from Turkey

Has Paribu experienced any controversy？

Paribu has experienced a few controversies since its launch in 2017.

• 2019 Hack: In 2019, Paribu was hacked and over \$10 million worth of cryptocurrency was stolen. The exchange was able to recover most of the stolen funds, but this incident did raise some concerns about the security of the exchange.

• Wash Trading: Paribu has been accused of wash trading. Wash trading is a form of market manipulation in which traders buy and sell the same cryptocurrency in order to create the illusion of increased trading activity. This can artificially inflate the price of cryptocurrency and make it seem more popular than it actually is.

Compare PARiBU with other exchangs

Features
Trading Fees	Maker: 0.25%, Taker: 0.35%	Maker: 0.04%, Taker: 0.075%	Maker: 0.05% - 0.1%, Taker: 0.1% - 0.5%	Up to 0.40% maker fee and up to 0.60% for taker fee
Cryptocurrencies	100+	500+	11	200+
Regulation	No regulated	Regulated by NMLS, MAS/FinCEN (Exceeded)	Regulated by FSA ( Japan), NMLS, CSSF, DFI, NYSDFS	Regulated by NMLS , FCA, NYSDFS, SEC (Exceeded), FINTRAC (Exceeded)

User Reviews

James Smith

24 March 2022

“PARiBU has been a solid experience for me. The interface is user-friendly, making trading a breeze. The security measures they take give me confidence in using the platform. With a decent variety of cryptocurrencies available, I've got choices. Customer support has been helpful whenever I needed them. And the best part？ The low trading fees! My deposits and withdrawals were pretty fast too.”

28 August 2022

Michael Brown

“Man, PARiBU left me wanting. The lack of clear regulations made me nervous about safety. The interface was a bit confusing, making trades harder. Liquidity wasn't the best, with some trades taking ages. When I needed help from customer support, it felt like they weren't really on top of things. And the trading fees？ Not the lowest, honestly. Deposit and withdrawal speeds？ Let's just say they could be better. In the end, the instability and limitations really turned me off.”

Conclusion

In a nutshell, when it comes to this exchange, there are some things to consider. On the bright side, you've got a choice of over 100 cryptocurrencies and the option for margin trading. But hey, watch out for those high taker fees – they're at 0.35%. Also, there's no solid customer support, and withdrawals might take a while. They're all about the Turkish lira, but there's no major financial regulator keeping tabs. And if you're not up on your Turkish, navigating could be a challenge. So, decide if the pros outweigh the cons for you before you dive in!

FAQs

Q: What payment methods does PARiBU accept for deposits and withdrawals？

A: PARiBU accepts bank transfers and credit/debit card payments for both deposit and withdrawal methods.

Q: How long does it take for deposits and withdrawals to be processed on PARiBU？

A: The processing time for deposits and withdrawals on PARiBU may vary depending on the selected payment method and any associated verification processes.

Q: What educational resources does PARiBU provide for traders？

A: PARiBU does not provide various educational resources.

Q: Does PARiBU have community support and communication platforms？

A: Yes, PARiBU may have community support and communication platforms such as forums and social media groups for traders to interact with each other and seek advice.

Q: Is it safe to trade with PARiBU？

A: The decision of whether or not to trade with Paribu is up to you. If you are comfortable with the risks involved, then Paribu may be a good option for you. However, if you are looking for an exchange with lower risks, better regulation, and more responsive customer support, then you may want to consider other options.

Q: What factors can affect user satisfaction with PARiBU？

A: User satisfaction with PARiBU can be influenced by factors such as access speed, fees, the trading platform experience, and the process of trading cryptocurrencies.

Risk Warning

Cryptocurrency trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information contained in this article is for general information purposes only.