Bitlo review: a local USDT route to LUNC

Verdict and score

Bitlo is one of only two platforms on Turkey’s SPK list that we could confirm list Terra Classic at all, and that alone makes it worth a look. The catch is the pair. Bitlo lists LUNC against USDT only, so every lira buyer pays for two conversions: lira into USDT, then USDT into LUNC. The LUNC-USDT book is thin, with daily volume in the low thousands of dollars in our snapshot, roughly a hundredth of the Binance lira book, and a bid-ask gap of about 1%.

Bitlo also keeps its commission table behind a security check that we could not get through, so its fees, minimum order and LUNC withdrawal terms are unconfirmed. On the plus side, our research found no hack and no SPK or MASAK fine against Bitlo, and its app rates well. We score it 5.6 out of 10: a usable second venue for small, patient orders, not a primary LUNC exchange.

Why these numbers. Liquidity (3.5): a few thousand dollars a day and a spread near 1% mean a market order of any size will cost you. Fees (5): not verifiable, and the spread acts as a hidden fee; an under-24 zero-commission campaign was announced in 2024, but whether it still runs is unknown. Local funding (6): lira deposits work, but the missing LUNC-TRY pair adds a step. Regulation and safety (6): on the SPK transitional list with a clean record in the sources we found, which is not the same as authorisation. App (7.5): 4.59 stars from about 4,200 ratings on the Turkish App Store.

Key facts

The LUNC-USDT market

Bitlo’s LUNC market is a stand-alone order book, unlike Binance TR’s lira pair, which mirrors Binance’s global book. When we read Bitlo’s public ticker, the best bid and the best ask were about 1% apart, and the day’s turnover was in the low thousands of dollars. On a book like that, the visible price is only a guide. A market buy order eats through the cheapest offers and can fill well above the last trade, especially when you buy more than a few hundred dollars’ worth at once.

The fix is simple: use limit orders. Place your bid just above the best bid, inside the gap, and wait. You may wait minutes or hours, but you avoid paying the full spread. The prices on Bitlo stayed close to Binance’s dollar price when we checked, so you can use the live board in the hero or our LUNC price page as a reference before setting your limit.

Thin book, patient orders

On a market with a 1% gap between bid and ask, a limit order placed inside the gap is the cheapest way in.

Fees and the real cost

Bitlo publishes its commissions at bitlo.com/komisyonlar, but the page sits behind a security check that blocks automated reading, so we could not verify the LUNC trading fee, the minimum order or the LUNC withdrawal fee. Check the fee page in the app before you trade. In 2024 Bitlo announced zero commission for users under 24, starting 1 August 2024; we do not know whether that campaign still runs.

On a thin market the spread often matters more than the fee. Here is a worked example. If you convert 10,000 TRY into USDT and then market-buy LUNC with it, a 1% spread costs about 100 lira before any commission, and the lira-to-USDT step has its own small spread. Selling later costs a similar amount again. On Binance TR, a direct lira trade on a much deeper book would usually cost a fraction of that. Withdrawals add the chain’s 1.5% burn tax, which governance set in proposal 12223 and can change by vote, on top of whatever Bitlo charges.

Lira funding

You fund Bitlo in lira by bank transfer from an account in your own name, then buy USDT inside the app. Turkey’s 2021 regulation on crypto payments, published in the Official Gazette on 16 April 2021 and in force from 30 April, bars payment and e-money institutions from moving money to or from crypto platforms, so e-wallets such as Papara are not a route. Plan for waiting periods as well. MASAK rules reported in force since 28 June 2025 cap stablecoin transfers at $3,000 a day and $50,000 a month, and allow crypto withdrawals only 48 hours after a purchase or deposit, or 72 hours for the first.

Those USDT limits matter more on Bitlo than on Binance TR, because USDT is your only bridge to LUNC here. If you ever plan to move USDT out to buy LUNC elsewhere, the daily cap will shape how fast you can do it. Our Turkey LUNC guide explains the wider legal picture, including the withdrawn 2026 crypto tax proposal.

USDT is the bridge here

Bitlo prices LUNC in USDT, so you need USDT either way. The button opens a card on-ramp for USDT. It does not list LUNC and is not on the SPK list, so buy LUNC on an exchange that lists it.

Create account

How to buy LUNC on Bitlo

The route has one more step than a direct lira pair, and the order type matters more because of the spread. Our general how to buy LUNC guide covers the same logic for other markets.

1. Open and verify your account

   Download the Bitlo app from the official site and complete identity verification with your Turkish details.

2. Deposit lira by bank transfer

   Send TRY from an account in your own name. E-money wallets are not allowed for crypto platforms.

3. Convert lira to USDT

   Buy USDT on the lira market. Use a limit order if the gap between bid and ask looks wide.

4. Buy on LUNC-USDT with a limit order

   Open LUNC-USDT, not LUNA-TRY. Set a bid inside the spread and wait for it to fill rather than market-buying.

5. Check the exit

   Before buying a large amount, open the LUNC withdrawal screen to see the fee, network and memo field, and move coins to a wallet you control if you plan to hold.

LUNC-specific notes

Bitlo, like most Turkish platforms, uses “LUNA” for Terra 2.0. Its LUNA-TRY market traded at about 1.96 lira when we checked, around a thousand times the price of LUNC. If the number you see is in whole lira, you are on the wrong coin. Our LUNC vs LUNA page explains how the split happened after the May 2022 crash.

We could not confirm Bitlo’s LUNC withdrawal fee or whether its deposit screen asks for a memo. Binance, Binance TH and Indodax all require a memo plus a terra1… address for LUNC deposits, so expect the same pattern and fill in whatever fields the screen shows. Bitlo runs no LUNC burn or LUNC staking product that we could find. If you want staking rewards, which run at about 2% a year net, you need your own wallet; see our LUNC staking guide.

Regulation and security record

Law No. 7518 of July 2024 put crypto platforms under the Capital Markets Board (SPK). Bitlo is row six on the board’s transitional list of operating platforms, dated 28 October 2026, under its new name Bitlo Kripto Varlık Alım Satım Platformu A.Ş. The board states that being on the list does not mean a firm is authorised, so the correct description is “on SPK’s transitional list”, not “SPK-licensed”.

We found no hack and no SPK or MASAK fine against Bitlo. MASAK’s 2022 fines, as reported, hit Bitci, Icrypex, Paribu and BtcTurk, not Bitlo. That clean record comes from press searches, and the absence of reports is not proof that nothing has happened. Bitlo was founded in 2018 according to CoinMarketCap and most coverage, with Mustafa Alpay named as founder; one 2022 article gives 2017 and adds another name, so treat the history as approximate.

App and support

Bitlo’s iOS app holds 4.59 stars from about 4,200 ratings on the Turkish App Store. That is a healthy score, though on a much smaller sample than the big Turkish brands. The app is in Turkish and keeps lira deposits, USDT conversion and the LUNC-USDT market in one place, which is the main practical advantage over moving USDT between exchanges. We did not test support response times. Use only the app linked from the official site.

Mind the spread

Bitlo vs Binance TR and other options

The obvious comparison is with Binance TR, the only SPK-listed platform with a direct LUNC/TRY market. The side-by-side below shows why we rank it higher for most buyers.

Other options are thin. BtcTurk, Paribu and OKX TR do not list LUNC at all, and their LUNA markets are Terra 2.0. You can buy USDT on one of them, wait out the MASAK holding period and send it to an international exchange, but that adds network fees and puts you outside the SPK list. Our LUNC exchange list covers every venue we checked, and Thai readers can compare Bitkub.