Bitlo – Exchange Review

What is Bitlo

Bitlo is a Turkey-based centralized crypto exchange launched in 2018. It offers a wide selection of over 90 cryptocurrencies with Turkish lira and USDT pairs. Its platform features include social trading, auto-invest plans, token baskets, gift cards, and an educational academy, all aimed at mainstream users.

Liquidity and Volume

Reported daily volume ranges from 1.8 million USD to over 3 million USD, with around 15–26 BTC traded each day. It holds a CoinGecko trust score of around 7/10, indicating reliable but not top-tier volume and transparency. That makes Bitlo a solid mid-tier option for Turkish users.

Features and Usability

Bitlo supports both basic and advanced crypto orders and offers fiat deposits and withdrawals via bank transfer, usually fee-free. Its mobile app scores highly with users (4.8/5) and is praised for ease of use and design.

Unique offerings include crypto baskets for diversified exposure, social trading that lets users follow peers, and a gift card program to easily share crypto.

Security and Compliance

Bitlo complies with Turkey’s Anti-Money Laundering and KYC regulations, registered under national watchdog standards in 2021. It offers cold wallet storage for assets and claims high security, though proof of reserves isn’t shared publicly.

No major hacks are reported. The platform earned a Diamond Award in 2021 for customer excellence and delivers 24/7 live support.

User Feedback

User satisfaction is split. The iOS app gets 4.8 stars from about 20 reviewers, and some community reviewers highlight strong usability and security.

However, complaints exist. The Trustpilot score is only 2.5/5 – some say withdrawals were blocked or delayed and customer support was unresponsive.

Pros and Cons

Pros:

• Wide coin variety with TRY and USDT options
  
• Innovative features like social trading and auto-invest
  
• Strong mobile app and user experience
  
• Licensed and regulated in Turkey
  
• Round-the-clock support and award recognition
  

Cons:

• Mixed reviews on withdrawals and support
  
• Lack of audit transparency or proof of reserves
  
• Limited to Turkey residents
  
• No margin, futures, or global fiat options
  

Who it’s for

Bitlo fits Turkish users who want an easy-to-use crypto app with both basic and advanced features – if you’re okay with a domestic-only platform. It’s less suited to international traders, high-volume pros, or users who want full proof of reserves.

Final verdict

Bitlo stands out as a licensed, feature-rich exchange tailored for the Turkish market. It merges usability, innovation and regulation in a single package. Still, mixed feedback on withdrawals and transparency gaps leave room for improvement.

For Turkey-based users seeking a fuss-free crypto gateway, Bitlo is a strong choice. Just stay aware of its limits – regional reach, audit visibility, and support consistency.