USDT/BTC to Fiat in Turkey

[OmegaStarScream]

So I have a friend who wants to convert a large amount (probably around 30-50K worth of crypto) to fiat currency (preferably EURO though). He's not a Turkish citizen though but I believe he has a residency there. Obviously, he doesn't mind going through the KYC process.

I want to know what's the best (fastest/cheapest) way to convert those funds and what are some of the difficulties he might face.

1. Are there any local exchanges in Turkey that one could use but still get EUR or USD instead of Turkish Lira?
2. How about cash? Is it legal and is it possible to find people to trade with for such amounts? I checked Binance P2P. There are multiple offers but for TRY only. If you receive that, could you just withdraw the Lira directly in EURO?
3. I would imagine? that as a last resort, one could always use any exchange that supports SWIFT but I'm not sure what would that look like in terms of fees.

[Despairo]

I'm not a Turk nor ever visit Turkey, so I don't really know how safe and the direct P2P norms in there.

But I check there's an OTC in there name "Coinsfera", they wrote if it's possible to sell crypto for USD or EURO, but it's only in Istanbul. The maximum and minimum of the trade is unwritten.

While cryptocurrency such as Bitcoin is seen as a store of value, ETH, TRON, BNB provide incredible advantages to their users on various platforms. However, if we take into account a feature of cryptocurrencies such as volatility, users may want to sell their cryptocurrencies at different times for different reasons. When you need cash or want to profit from the spike in high volatility, you can sell your cryptocurrency in Coinsfera for dollars, Turkish lira, or euro. We assure you that you will be satisfied with the ease of our transactions.

As Coinsfera Bitcoinshop, our most important advantage is that we do not restrict our customers in transaction volume. You should contact our staff to learn the maximum and minimum amounts in detail.

Coinsfera Istanbul

Müeyyedzade, Necatibey Cd. No.51/A, 34425 Beyoğlu/İstanbul

[Z-tight]

1. Are there any local exchanges in Turkey that one could use but still get EUR or USD instead of Turkish Lira?

One member posted this ^[1] today about some physical shops in Turkey where people can exchange crypto to fiat and vise versa, what i do not know is if you can convert your crypto to cash and receive it in Euro or U.S. Dollars, but maybe you can look at the link posted in that thread, it isn't in English, so i do not understand what was said in the source link.

[1] https://bitcointalk.org/index.php?topic=5473789.msg63144353#msg63144353

[wmiran]

So I have a friend who wants to convert a large amount (probably around 30-50K worth of crypto) to fiat currency (preferably EURO though). He's not a Turkish citizen though but I believe he has a residency there. Obviously, he doesn't mind going through the KYC process.

I want to know what's the best (fastest/cheapest) way to convert those funds and what are some of the difficulties he might face.

1. Are there any local exchanges in Turkey that one could use but still get EUR or USD instead of Turkish Lira?
2. How about cash? Is it legal and is it possible to find people to trade with for such amounts? I checked Binance P2P. There are multiple offers but for TRY only. If you receive that, could you just withdraw the Lira directly in EURO?
3. I would imagine? that as a last resort, one could always use any exchange that supports SWIFT but I'm not sure what would that look like in terms of fees.

In Turkey, it can be challenging for foreigners to open a bank account and register on exchanges like BTC Turk to exchange their crypto for TRY/Lira. However, there is a reliable alternative. Foreigners can ask local residents in specific regions, such as Istanbul, where local exchanges (fiat exchanges) are located. These exchanges often work with SWIFT and facilitate crypto exchanges in various directions.

If your friend doesn't speak Turkish fluently, it's advisable to accompany them with a Turkish-speaking person to seek assistance in finding a reputable exchange for negotiation.

To check the price of cryptocurrencies like BTC/TRY, you can use http://btcturk.com, which is the largest crypto exchange in Turkey. good luck

[OmegaStarScream]

I appreciate everyone's response. Now since I know that there are OTC desks and offices to exchange BTC and USDT to USD or EUR, I want to know if anyone has used any of them. I'd like to hear some reviews.

I'm aware of Coinsfera which was mentioned above, and I know they had an office in both Dubai and London, but I can see they're both closed now, so I'm a bit skeptical as to whether they are to be trusted or not? I can't find much info about them online aside from the Google maps reviews.