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.

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.

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.

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

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.



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)