Paribu account opening

Detailed Process of Opening an Account on Paribu

1. Download the Paribu App:
   • iOS: Go to the App Store on your iPhone and search for “Paribu.” Download and install the app.
   • Android: Visit Google Play, search for “Paribu,” and download the app to your Android device.
2. Sign Up:
   • Open the Paribu app.
   • Click on the “Sign Up” button.
   • Enter your full name, mobile phone number, and email address.
   • Create a strong password for your account.
3. Agree to Terms:
   • Carefully read through the user agreements and terms of service.
   • Check the boxes to agree to the terms and policies of Paribu.
4. Verification:
   • Phone Verification: A verification code will be sent to your mobile phone via SMS. Enter this code in the app to verify your phone number.
   • Email Verification: Paribu will send a verification email to the address you provided. Open this email and click on the verification link to confirm your email address.
5. Complete KYC (Know Your Customer) Process:
   • Fill in additional personal details as prompted by the app.
   • Provide identification documents such as a passport or driver’s license for identity verification.
   • Follow the instructions to upload your documents securely.
6. Account Activation:
   • Link a payment method to your Paribu account. You can use a bank account, credit card, or other supported payment methods.
   • Once all the verification steps are completed and approved, your account will be activated and ready to use.

Different Types of Accounts on Paribu

Paribu primarily offers a single type of account, but the level of account verification determines the features and limits available to the user. Here’s a breakdown:

1. Standard Account:
   • Basic Registration: When you first sign up, you have a basic account. This includes access to essential features such as trading and using the Paribu wallet.
   • Phone and Email Verification: Completing these verifications gives you more access to trading and withdrawal features.
2. Verified Account:
   • KYC (Know Your Customer): To fully unlock all features and higher transaction limits, you need to complete the KYC process. This involves submitting personal identification documents, such as a passport or driver’s license, and sometimes proof of address.
   • Enhanced Limits: A fully verified account allows for higher deposit and withdrawal limits. For example, verified users can buy up to 50K USD worth of cryptocurrency daily.
   • Increased Security: Verification also enhances the security of your account with additional protective measures like two-factor authentication (2FA) and biometric login options.

Minimum Deposit on Paribu

Paribu does not explicitly state a minimum deposit amount for opening an account or for initial funding. However, users need to be aware of certain fees and minimum requirements related to transactions. Here are the key points:

1. No Minimum Deposit for Account Creation:
   • There is no specified minimum deposit required to create and activate an account on Paribu. Users can sign up and start using the platform without making an initial deposit.
2. Trading and Withdrawal Fees:
   • Trading Fees: Paribu charges a fee of 0.25% for market makers and 0.35% for market takers when trading cryptocurrencies.
   • Withdrawal Fees: Fees for withdrawing funds depend on the cryptocurrency being withdrawn. For example, a withdrawal fee of 0.0005 BTC may apply for Bitcoin withdrawals .
   • Fiat Withdrawals: When withdrawing fiat currency to a bank account, users might incur additional fees. These fees vary based on the withdrawal method and the user’s location .
3. Funding Methods:
   • Users can fund their Paribu accounts via bank transfers, credit cards, and other supported payment methods. There are no fees for depositing funds, making it easy to start trading once the account is set up and verified.

Countries That Can and Cannot Open a Paribu Account

Countries Where Paribu is Available: Paribu is primarily designed for users in Turkey, and its services are tailored to the Turkish market. The platform supports bank transfers from Turkish banks and transactions in Turkish Lira (TRY). However, users from other countries can potentially use the platform, though they may face limitations and additional verification requirements.

Countries Where Paribu is Not Available: Paribu has specific restrictions and does not operate in several countries due to regulatory and compliance reasons. The countries where Paribu is not available include:

1. Afghanistan
2. Haiti
3. Iran
4. Iraq
5. Jordan
6. Kazakhstan
7. Kosovo
8. Lebanon
9. Libya
10. Macau
11. North Korea
12. Palestinian Territories
13. Panama
14. Sierra Leone
15. Syria
16. Yemen