BTC to TRY
1 BTC = 3,901,278.09 TRY
1 TRY = 0.00000026 BTC · Indicative rate
Convert Bitcoin to Turkish lira at an indicative rate, and see the spread before you buy or sell through Banxa.
Turkey has among the highest Bitcoin adoption rates anywhere, driven substantially by currency depreciation rather than by speculation. Lira quotes carry a persistent premium, and the pair can move sharply on domestic currency news that has nothing to do with Bitcoin at all.
Indicative rate. Your checkout quote includes the spread.
How converting Bitcoin actually works
Bitcoin has no official price. No exchange sets one, there is no closing bell, and since the network started in 2009 the figure quoted anywhere has been an average drawn from wherever the asset happened to be trading at that moment. Two reputable sites can show different numbers at the same second and both be right.
That matters when you convert. A rate is a snapshot of a market that never closes, and on a volatile day the number moves while you are reading it. What you are looking at here is indicative: it tells you roughly what your holding is worth, not what any particular transaction will settle at.
The gap between the two is the spread. Every venue quotes a slightly higher price to buy than to sell, and that difference is how the market makes its money. On a deep pair it is small. On a thin one it is not, and the quoted mid-price can be some distance from either side of it.
Size changes things too. A conversion worth a few hundred executes against the top of the order book at close to the quoted rate. One worth several hundred thousand eats through it, and the average price you end up with is worse than the one you started looking at. This is why large trades are usually broken up rather than placed at once.
The other thing worth knowing is that a rate you were quoted expires. Between accepting a number and the money arriving, the market keeps moving, so providers hold a quote for a short fixed window and re-price after it. That window is usually measured in minutes.
Common questions
Bitcoin in other currencies
Other coins in Turkish lira
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The rate at checkout includes the spread.
Cryptocurrency prices can fall as fast as they rise. The rates on this page are information, not an offer or financial advice.