Paribu Review 2024
According to our idea, the TU Overall Score indicator should answer the biggest question of all: “Can I trust this broker with my money?”. The scores range within 0.01 – 9.99 (the higher the indicator the more trust the broker has). More details
- $1
- TradingView
- Exchange of cryptocurrencies only with TYR and USDT, significant trading commissions can be reduced by increasing the trading volume and rebate from the Traders Union, there are no other services except exchange trading, a high level of protection of user data and funds
According to our idea, the TU Overall Score indicator should answer the biggest question of all: “Can I trust this broker with my money?”. The scores range within 0.01 – 9.99 (the higher the indicator the more trust the broker has). More details
- $1
- TradingView
- Exchange of cryptocurrencies only with TYR and USDT, significant trading commissions can be reduced by increasing the trading volume and rebate from the Traders Union, there are no other services except exchange trading, a high level of protection of user data and funds
Our Evaluation of Paribu
According to our idea, the TU Overall Score indicator should answer the biggest question of all: “Can I trust this broker with my money?”. The scores range within 0.01 – 9.99 (the higher the indicator the more trust the broker has). More details
Paribu is a cryptocurrency exchange with higher-than-average risk and the TU Overall Score of 3.32 out of 10. Having reviewed trading opportunities offered by the company and reviews posted by Paribu clients on our website, Traders Union expert Anton Kharitonov recommends users to consider a more reliable broker with better conditions, as, according to reviews, many clients of this broker are not satisfied with the company’s work.
Paribu cryptocurrency exchange differs from its competitors in its simple and intuitive service. There is no exchanger, API, or other functions. The terminal is a standard TradingView in the browser, and the mobile application is developed based on the browser terminal. There is no minimum deposit requirement and the exchange offers a low entry threshold, allowing you to quickly get used to it. You can find good training guides here. There are no investment solutions, referral programs, or other options for extra/alternative earnings on the site. It is focused mostly on novice cryptocurrency traders. There are comfortable and profitable terms for them. Experienced traders may lack features. The platform is not for investors.
Brief Look at Paribu
The Paribu cryptocurrency exchange is among the leading players in Turkey. It is well known in Europe and popular among traders in other regions due to its large number of assets, significant trading volume, and simplified functionality compared to its competitors. US residents cannot trade on this exchange. Bitcoin (₿), Litecoin (Ł), Ripple, Cardano, Tron, dozens of other cryptocurrencies and tokens are the main traded assets. The pool of assets is constantly expanding due to the open listing. Trading is carried out in cryptocurrency-fiat and USDT/all other cryptocurrency asset pairs and this shall be considered an important feature of the exchange. Only Turkish lira is available as a fiat. Market average commissions can be reduced by increasing the trading volume. There is no minimum deposit and withdrawal fees are low. The exchange doesn’t offer referral programs or investment solutions.
- a large variety of cryptocurrencies and tokens, and the list is constantly expanding;
- the exchange operates twenty-four/seven;
- secure interbank ETF transactions;
- the most simplified platform functionality;
- high speed of transactions and transfers;
- a mobile trading application for iOS and Android;
- medium commissions, large limits, comfortable trading.
- there is no sale/purchase for crypto-crypto pairs, except when coupled with USDT coins;
- there are no other fiat funds besides the Turkish lira;
- There are no investment solutions.
TU Expert Advice
Financial expert and analyst at Traders Union
The Paribu cryptocurrency exchange has been operating since 2017. At the moment it is among the most demanded exchanges in the world market. It acts officially under the regional legislation in the field of financial activities regulation. The exchange has no problems with taxes and reporting. There was no evidence of a violation of the law or obligations to customers.
This cryptocurrency exchange is a service for purchase/selling cryptocurrencies. All traded pairs are either Turkish lira (TRY) or Tether (USDT, ₮) pairs. This fact cannot be unambiguously considered as an advantage or a disadvantage. This is a feature of the site to be taken into account.
Fees of 0.35%/0.25% for taker/maker are slightly above average when compared to the world's leading competitors. This is compensated by the possibility of lowering fees to 0.15% due to high trading volumes (the commissions are reduced and compared for the taker/maker when trading in volumes equivalent to 100 thousand lire per month or exceeding this level).
The rest of the exchange is standard: TradingView trading terminal, mobile trading app, no referral program, and no investment programs. The site is focused on active trading, which also shouldn't be considered as a pro or con, but as its core mission. During testing, the experts at the Traders Union did not find any vulnerabilities or evidence of hacking. The platform can be described as secure.
- You are based in Turkey, as Paribu is a Turkish cryptocurrency exchange regulated by the Financial Crimes Investigation Board (MASAK). Being regulated locally can provide you with a sense of security and assurance, particularly if you prioritize compliance with local regulations and support.
- You are a beginner, as Paribu offers a user-friendly interface and provides a variety of educational resources, making it suitable for individuals who are new to cryptocurrency trading.
- You're interested in trading a wide range of cryptocurrency pairs directly. Paribu may not be the ideal exchange for you. The absence of crypto-crypto pairs, except those coupled with USDT coins, limits your trading options, and may not align with your preferences.
- You require access to multiple fiat currencies for trading or prefer to diversify your holdings across different fiat currencies. Paribu's exclusive support for the Turkish lira may not meet your needs. The lack of other fiat options could restrict your trading flexibility and hinder your ability to take advantage of various trading opportunities.
Paribu Summary
| 💻 Trading platform: | TradingView in browser |
|---|---|
| 📊 Accounts: | Standard |
| 💰 Account currency: | Cryptocurrencies, TYR |
| 💵 Replenishment / Withdrawal: | Bank accounts, electronic and cryptocurrency wallets |
| 🚀 Minimum deposit: | No |
| ⚖️ Leverage: | No |
| 💼 PAMM-accounts: | No |
| 📈️ Min Order: | From 0 |
| 💱 Commission: | Market |
| 🔧 Instruments: | Cryptocurrencies, TYR |
| 💹 Margin Call / Stop Out: | No |
| 🏛 Liquidity provider: | No |
| 📱 Mobile trading: | Yes |
| ➕ Affiliate program: | No |
| 📋 Orders execution: | n/a |
| ⭐ Trading features: | Exchange of cryptocurrencies only with TYR and USDT, significant trading commissions can be reduced by increasing the trading volume and rebate from the Traders Union, there are no other services except exchange trading, a high level of protection of user data and funds |
| 🎁 Contests and bonuses: | Yes, the Traders Union |
The Paribu cryptocurrency exchange offers a low entry threshold. To start trading, register and go through a simple verification (personal data confirmation). After that, you will get full access to all functions. There is no minimum deposit. This means that you can deposit any amount of funds using any replenishment channel. It is worth noting that there are minimum limits for trade transactions. For example, you cannot make a trade with Bitcoin for less than ₿0.00001. Accordingly, you need to deposit at least this amount into the account. There is no leverage on the site. The exchange doesn’t provide borrowed funds, so you have to rely only on your budget. You can contact support specialists through the "Help Center", which has an integrated ticket system.
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Commissions and fees
| Account type | Commission (minimum value) | Withdrawal commission |
|---|---|---|
| Standard | up to 0.35% per application | Yes |
The website charges a commission for the withdrawal of assets to external accounts, e-wallets, and cryptocurrency wallets. The fee amount is different for different assets and is calculated immediately before the withdrawal. Therefore, you can only find it out by withdrawing funds through the appropriate option in your personal account. There are no deposit limits on the exchange, but there are limits on the funds’ withdrawal. For example, you cannot withdraw less than 0.0001 BTC, less than 0.01 LTC, less than 20 ADA, etc. You can find withdrawal limits, as well as minimum limits on trading operations in the "Help Center" section, on the "Limits" page. The website doesn’t charge other withdrawal commissions, but other fees may be charged by third-party services that customers use to deposit/withdraw funds.
| Broker | Average commission | Level |
|---|---|---|
|
$3.5 | |
|
$20 | |
|
$0.1 |
Investment Options
This cryptocurrency exchange doesn’t offer investment programs. There are no passive earning options. Clients of the exchange can only earn on active cryptocurrency and coin trading.
If you are a large investor and plan on investments over $10,000, contact us at vip-invest@tradersunion.com or by the feedback form on our website. Our professional team will take you through all the intricacies of the deal and all the steps from signing up to withdrawal of profits.
Paribu’s affiliate program:
The website doesn’t have an affiliate (referral) program. Clients of the exchange can invite other users to the site, but they will not get any bonuses or trading benefits from this. Many traders say that if the website doesn’t have a referral program, then it doesn’t need an extra increase in clients. This potentially indicates a high demand for Paribu not only in Turkey but all over the world.
User Satisfaction