In August 2017, Turkey saw the launch of a platform known as Vebitcoin, which served as a marketplace for the trading of digital assets. Turkey is the location of Vebitcoin’s main office and headquarters. By giving customers a selection of several cryptocurrencies from which to pick, the organization’s goal was to provide customers in Turkey and elsewhere the ability to take control of their financial destinies and become more financially independent. One has the option of selecting from English, Turkish, or Russian when it comes to the language selections. Without the need to first register, anyone can gain access to all of the information that is now accessible concerning the market. It was a platform that constantly put the user at the forefront of its attention, regardless of the context. You are free to contact the customer service representatives at any time. They are always available to take your call. It promoted commercial transactions to be carried out at a rate that was equivalent to that of the Turkish lira. Expenses that are linked with conducting transactions using Bitcoin
This one particular trading platform offered a fee charge that was fixed at 0.20 percent across the board, regardless of the deals that were executed. This provides some evidence that the transaction treated the individuals who produced the items as well as those who purchased them with the same level of respect and consideration. Investors who want to fulfill existing orders from the order book may find this way of lowering trading expenses to be intriguing. In addition, 0.20 percent is less than both the average for the national industry as a whole and the average for the industry as a whole, making it lower than both of those averages.
Expenses that are related to the act of withdrawing VBTC
When you take Bitcoin out of your Vebitcoin wallet, a withdrawal charge equal to 0.0009 Bitcoin will be removed from the total amount you have available in the wallet. This probably translates to around 0.0006 BTC for each BTC withdrawal, which is somewhat higher than the worldwide industry average for BTC withdrawals. [Citation needed]Fees for withdrawing Vebitcoin
When you withdraw BTC, Vebitcoin charges a withdrawal fee of 0.0009 BTC. This is arguably roughly 0.0006 BTC per BTC withdrawal, which is somewhat more than the worldwide industry average for BTC withdrawals.
Deposit techniques
The use of wire transfers was permitted to make deposits with this exchange; however, deposits made using credit cards were not approved.
Vebitcoin is another cryptocurrency exchange in Turkey that is being looked into by the authorities.
In approximately one week since the nation’s central bank banned the use of cryptocurrencies as a means of payment, the cryptocurrency exchange known as Vebitcoin became the second cryptocurrency exchange to have technical difficulties. There are claims that fraudulent activity had been placed before the shutdown of operations at the initial exchange, which was known as Thodex.
More on Vebitcoin
After Bitcoin Exchange, Vebitcoin was the next cryptocurrency exchange to have problems. Vebitcoin released a statement, which was published on its website, in which it explained that as a result of the events that were taking place at the time in the cryptocurrency business, there was a significantly higher density in their operations than they had anticipated. The statement was published on the company’s website. The message was uploaded to the organization’s website and made public there. They voiced their displeasure with the fact that this ailment had compelled them to go through a tough procedure financially, and they conveyed their frustration with the situation. After that point, Vebitcoin ceased conducting any of its previous commercial activities. Onshore bank accounts belonging to Vebitcoin were seized, and an investigation into the website of the company was launched in Turkey by the Financial Crimes Probe Board (MASAK). When the investigation was first initiated, a total of four people were taken into custody as prospective suspects in connection with the crime. Trading in Vebitcoin was suspended by the company a little more than a week after the Turkish central bank issued an order barring the use of cryptocurrencies, including bitcoin, as a means of payment anywhere in the nation.
