Bitfinex Introduces Zero-Cost Deposits for Turkey Customers
• Bitfinex customers in Turkey can now deposit Turkish Lira (TRY) directly from their bank account at zero cost.
• The crypto exchange is offering this service in partnership with Vakıfbank, one of Turkey’s largest banks.
• Additionally, there will be no fee withdrawals for up to 2 million TRY and reduced fees on the TRY/USDT pair.
Partnership with Vakıfbank
Bitfinex has announced a partnership with Vakıfbank, one of Turkey’s largest banks, to offer zero-cost deposits for the Turkish Lira (TRY). Customers will also access no-fee withdrawals for up to 2 million TRY. This feature will be available effective immediately via the Bitfinex Turkey web platform and mobile app.
Benefits for Users
The new partnership between Bitfinex and Vakıfbank offers several benefits for customers in Turkey. Firstly, users can make deposits into their accounts at no cost. Secondly, they are able to withdraw up to two million TRY without any fees. In addition, there is a six month promotion that provides reduced fees on the TRY/USDT pair.
Expansion in Turkish Market
This move by Bitfinex is likely part of an effort to expand its presence in the Turkish market, which is currently dominated by Binance as well as other competitors such as Bitget and OKX who announced plans to enter the market back in May.
Conclusion
Overall, this new partnership between Bitfinex and Vakıfbank offers several advantages to customers in Turkey including zero-cost deposits and no-fee withdrawals up to 2 million TRY as well as discounts on trading fees associated with the TRY/USDT pair. This move is also indicative of the exchange’s strategy to expand its presence within this market space.