Ethereum
Name Service (ENS) operates on the Ethereum Blockchain as a system for naming wallets. It provides a user-friendly solution to convert intricate Ethereum wallet addresses into names that are easy to read, akin to the domain name services used for websites. Here, you will find answers to two commonly asked questions: What is Ethereum Name Service (ENS) and how can one purchase Ethereum Name Service (ENS) with Turkish Lira (TRY).
Overview
What is Ethereum Name Service (ENS)?
How to Purchase Ethereum Name Service (ENS) with TRY?
How to Create an Account on Binance TR?
How to Verify Your Account on Binance TR?
How to Deposit Turkish Lira on Binance TR?
How to Buy ENS Coin with Turkish Lira on Binance TR?
What is Binance TR?
What is Ethereum Name Service (ENS)?
Ethereum Name Service functions as a decentralized naming system aiming to make Ethereum wallet addresses more accessible and user-friendly. Just like traditional domain name services convert IP addresses into memorable website names, ENS transforms random characters of Ethereum wallet addresses into recognizable words or phrases. This simplifies the sharing and interaction of Ethereum wallet addresses, improving usability for individuals and businesses. Stay updated on the latest technology news by visiting
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Ethereum Name Service operates through smart contracts on the Ethereum Blockchain, particularly registry and resolver contracts. The registry keeps a record of all domain names and subdomains available through Ethereum Name Service, including essential information like domain ownership and associated resolvers. The resolver contract translates human-readable Ethereum Name Service domain names into corresponding Ethereum wallet addresses and vice versa, facilitating seamless interactions within the Ethereum ecosystem.
To acquire an Ethereum Name Service domain name, users must utilize the Ethereum Name Service application to search for available domain names. Once a desired name is identified, users begin the registration process by confirming two transactions from their linked Ethereum wallet addresses. The first transaction initiates the registration request, while the second transaction finalizes the registration within seven days. Users also have the option to set the lease duration for domain names, granting access for a specified period.
One of the key advantages of Ethereum Name Service is the simplification of Ethereum wallet addresses, making them more recognizable and memorable for users. Additionally, it enables domain owners to create and manage subdomains, providing flexibility and customization options. By facilitating the sharing and interaction of Ethereum wallet addresses, Ethereum Name Service enhances usability and accessibility within the Ethereum ecosystem.
Ethereum Name Service operates within a hierarchical system similar to traditional domain name services, granting domain owners control over subdomains. This hierarchical structure allows for the creation of nested subdomains, offering increased customization and organization options for domain owners. For instance, a domain owner can establish subdomains like learn.domain.eth and ens.learn.domain.eth to effectively categorize and manage their addresses.
The management of Ethereum Name Service is supported by the ENS coin, enabling holders to propose and vote on decisions related to the governance and development of the protocol. The ENS coin is crucial for participating in the decentralized autonomous organization (DAO) overseeing the Ethereum Name Service protocol, ensuring transparency and community involvement in governance processes.
How to Purchase Ethereum Name Service (ENS) with TRY?
For investors in Turkey looking to buy Ethereum Name Service (ENS), Binance TR is the most suitable cryptocurrency exchange. Binance TR allows for quick account creation and offers trading of over 100 cryptocurrencies, including ENS. To purchase Ethereum Name Service (ENS) with Turkish Lira (TRY) on Binance TR, follow the steps below.
How to Create an Account on Binance TR?
Creating an account on Binance TR is straightforward. Visit trbinance.com and proceed to the “Create Account” step. In the initial account creation phase, you will be required to input basic information such as email address, phone number, name, date of birth, nationality, and T.C. identity number.
Once you have provided the necessary information accurately, email/sms verification will be conducted to confirm and verify the details. Following this process, you will proceed to the second step, identity verification (KYC).
How to Verify Your Account on Binance TR?
Identity verification on Binance TR is a crucial security procedure that must be completed before engaging in cryptocurrency trading and during account creation. This verification process is essential to safeguard both the user and the cryptocurrency exchange. Identity verification can be carried out using your phone or through the official Binance TR website. Note that you will need your mobile phone for identity verification on the website as well.
On the Binance TR website, hover over the “Profile” option at the top right, click on “Identity Verification and Limits” from the drop-down menu, and then select “Verify.” Subsequently, you will need to scan the QR code displayed using your phone’s camera and continue the process on your phone. If you are unable to scan the QR code, you can opt to have the identity verification address sent to your phone via SMS by clicking on “Copy URL.”
Upon entering the address on your phone or scanning the QR code, a screen similar to the one shown below will appear on your phone. Tap on the “Identity” option to proceed.
The screen displayed above will open, prompting you to select the document type that suits you to continue the verification process.
Upon selecting the document type, proceed by tapping on “Upload front side.” After capturing a photo of the front side of the document according to the selected document type, tap on “Upload back side” to take a photo of the back side of the document and upload it. When capturing photos of the front and back sides of your ID card or driver’s license, ensure that the images are clear and the information is easily legible.
Following this, tap on “Selfie” to continue. Your phone’s front camera will activate, and you will be required to scan your face. Ensure that your face fills the camera area as much as possible once the camera is activated.
Upon accurately completing all these steps, your identity verification process will be finalized promptly.
How to Deposit Turkish Lira on Binance TR?
You can easily deposit Turkish Lira into your Binance TR account from all banks. Deposits and trading of Turkish Lira can be carried out 24/7 from Vakıfbank, Ziraat Bankası, İş Bankası, Akbank, Fibabanka, Şekerbank, and Türkiye Finans accounts without interruption. For other banks, deposits up to 50,000 TL can be made 24/7 via FAST. Deposits exceeding 50,000 TL from other banks are processed during EFT hours.
To deposit funds into your Binance TR account, visit trbinance.com, hover over the “Wallet” option on the homepage’s top left, and select “Deposit” from the drop-down menu.
A page similar to the one shown above will open, allowing you to proceed with the deposit process by choosing your preferred bank. If your bank is not yet integrated with Binance TR, continue by clicking on “Other Banks.”
In this example, we will continue using Vakıfbank, but the process is identical for all other banks. By selecting the Vakıfbank option, you will be provided with an account name and IBAN address for wire transfer, EFT, or FAST transfers. Utilize the information displayed on the bank’s page to transfer the desired amount into your Binance TR account via wire transfer, EFT, or FAST.
Once your bank completes the transfer process, the funds transferred will automatically reflect in your Binance TR account wallet.
How to Buy ENS Coin with Turkish Lira on Binance TR?
Following the deposit process, you can proceed to purchase ENS coins with Turkish Lira by selecting the “Buy-Sell” option in the top left menu on the Binance TR website.
Upon selecting this option, a page similar to the one displayed above will open. By typing “ENS” in the search section on the right side of the page, you can access the ENS purchase page with Turkish Lira by selecting the ENS/TRY option from the search results.
The ENS trading page depicted above will open. In the area highlighted with a red box, input the price at which you wish to buy ENS in the first box and the quantity of ENS you want to purchase in the second box. Complete your purchase by clicking on the “Buy ENS” button after entering the amount.
What is Binance TR?
Binance TR, established in 2020, is the official platform of Binance, the world’s largest cryptocurrency exchange by trading volume, catering to cryptocurrency investors in Turkey. Headquartered in Istanbul, Binance TR can be accessed at trbinance.com.
Leveraging Binance’s technology, security measures, and liquidity provided through Binance Cloud infrastructure, Binance TR offers fiat-to-crypto and crypto-to-crypto trading services. Users in Turkey can seamlessly deposit and withdraw Turkish Lira (TRY) directly through bank channels and trade various cryptocurrencies with TRY trading pairs via Binance TR.
Users benefit from market-leading spot trading liquidity, a robust matching engine, advanced security protocols, custody solutions, and risk controls supported by Binance’s core functionalities through Binance TR.
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Disclaimer:
The information provided in this article does not constitute investment advice. Investors should be aware that cryptocurrencies are highly volatile and carry inherent risks, and are advised to conduct their own research.
Ethereum Name Service Makes Ethereum Wallet Addresses Easier
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