Etherfi (ETHFI), a groundbreaking protocol in the realm of liquid restaking on the Ethereum Blockchain, caters to the liquidity requirements of stakers looking to utilize their staked tokens for purposes beyond traditional staking. Through its integration with EigenLayer and provision of native liquid restaking features, EtherFi has emerged as the premier protocol in the ETH liquid restaking sub-sector, boasting a substantial total value locked (TVL) and offering users augmented earning opportunities. This article delves into two commonly asked questions: What is Etherfi (ETHFI) and how to acquire Etherfi (ETHFI) with TRY.
## Contents
1. What is Etherfi (ETHFI)?
2. How to Buy Etherfi (ETHFI) with TRY?
3. How to Open an Account on Binance TR?
4. How to Verify an Account on Binance TR?
5. How to Deposit TL on Binance TR?
6. How to Buy ETHFI Coin with TL on Binance TR?
7. What is Binance TR?
### What is Etherfi (ETHFI)?
EtherFi is a protocol devised to streamline liquid staking for Ethereum (ETH) holders, enabling them to stake their ETH liquid stake tokens (LSTs) and receive liquid receipt tokens in return, known as eETH. These eETH tokens represent users’ staked LSTs and automatically accumulate rewards obtained through restaking with EigenLayer. Additionally, users have the option to wrap their eETH as Wrapped eETH (weETH) to leverage the token in diverse DeFi applications. For the latest financial and business news, visit COINTURK FINANCE.
EtherFi’s inception revolved around decentralizing the Ethereum validator landscape and enhancing accessibility to ETH staking. Initially, the protocol provided a non-custodial staking service enabling users to stake ETH in 32-unit increments while retaining control of their withdrawal keys. In August 2023, EtherFi elevated its mission by harnessing distributed validator technology (DVT) to disseminate validator keys through an operator network, thereby lowering entry barriers for node operation.
Post-integration with EigenLayer as an ETH liquid restaking protocol, EtherFi witnessed substantial growth in its TVL. This integration empowered depositors to stake their LSTs with EigenLayer and obtain eETH tokens representing their positions. These eETH tokens are automatically restructured to accumulate rewards from EigenLayer staking activities. Moreover, users can wrap their eETH as weETH to broaden its utility across a spectrum of DeFi applications.
weETH holders can partake in various DeFi protocols, including liquidity pools, lending platforms, vault protocols, leverage protocols, and additional restaking applications. This versatility allows users to optimize their earning potential while continuing to benefit from ETH staking rewards and EigenLayer points, engaging in a diverse array of DeFi activities.
A prominent feature of EtherFi is its native liquid restaking functionality, allowing users to directly deposit their tokens into EigenLayer without waiting for unlock periods. This feature enables users to maximize their earnings from EigenLayer points and bolsters EtherFi’s position as a leading liquid restaking protocol in terms of TVL.
### How to Buy Etherfi (ETHFI) with TRY?
Binance TR stands out as the ideal cryptocurrency exchange for investors in Turkey seeking to purchase Etherfi (ETHFI). With over 100 cryptocurrencies, including ETHFI, available for trading, Binance TR offers swift account creation. Follow these steps to acquire Etherfi (ETHFI) with TRY on Binance TR.
#### How to Open an Account on Binance TR?
Opening an account on Binance TR is a straightforward process. Visit trbinance.com and proceed from the “Create Account” step. During the initial account creation step, input basic information such as email address, phone number, name-surname, date of birth, nationality, and T.C. identification number.
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Upon entering the requested information accurately, undergo email/SMS verification to validate the details. Subsequently, proceed to the second step, identity verification (KYC).
#### How to Verify an Account on Binance TR?
Identity verification on Binance TR is an essential security measure that must be completed before engaging in cryptocurrency trading and account creation. This process safeguards both the user and the cryptocurrency exchange. Identity verification can be conducted either through a mobile phone or the official Binance TR website. Note that mobile phone usage is imperative for identity verification through the website.
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On the Binance TR website, hover over the “Profile” option at the top right, select “Identity Verification and Limits” from the drop-down menu, and click on “Verify.” Follow the subsequent steps, including scanning the QR code with your mobile phone camera to continue the process on your mobile device. If unable to scan the QR code, opt for the “Copy URL” alternative to have the identity verification link sent to your mobile phone via SMS.
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Upon entering the link on your mobile device or scanning the QR code, a screen will appear prompting you to tap on the “Identity” option.
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Select the document type that suits you best, proceed by uploading the front and back sides of the document, and conclude by capturing a selfie. Ensure that the images are clear and the information is legible to expedite the verification process.
#### How to Deposit TL on Binance TR?
Depositing TL into your Binance TR account from all banks is a seamless process. Enjoy 24/7 TL deposits and uninterrupted transactions from Vakıfbank, Ziraat Bankası, İş Bankası, Akbank, Fibabanka, Şekerbank, and Türkiye Finans accounts. For deposits up to 50,000 TL, utilize FAST from other banks around the clock. Deposits exceeding 50,000 TL from other banks are processed during EFT hours.
To deposit funds into your Binance TR account, navigate to trbinance.com, hover over the “Wallet” option, and click on “Deposit” from the drop-down menu.
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Select your preferred bank from the ensuing page to initiate the deposit process. If your bank is not integrated with Binance TR, opt for the “Other Banks” option.
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Upon selecting a bank, an account name and IBAN address will be displayed for your transfer. Utilize this information for transfer, EFT, or FAST to deposit the desired amount into your Binance TR account.
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Once your bank finalizes the transfer, the funds will promptly reflect in your Binance TR account wallet.
#### How to Buy ETHFI Coin with TL on Binance TR?
Following the deposit procedure, proceed to purchase ETHFI coins with TL by clicking on the “Buy-Sell” option in the top left menu on the Binance TR website.
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Upon accessing the buy-sell page, key in “ETHFI” in the search section, select the ETHFI/TRY option, and navigate to the ETHFI trading page.
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Enter the desired price and quantity of ETHFI in the designated fields, then finalize your purchase by clicking the “Buy ETHFI” button.
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### What is Binance TR?
Launched in 2020, Binance TR serves as 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, accessible at trbinance.com, offers a blend of fiat-to-crypto and crypto-to-crypto trading services leveraging Binance’s technology, security measures, and liquidity provided through the Binance Cloud infrastructure. Users in Turkey can seamlessly deposit and withdraw Turkish lira (TRY) through direct bank channels and trade various cryptocurrencies with TRY trading pairs via Binance TR.
Benefiting from Binance’s core functionalities, users on Binance TR gain access to market-leading spot trading liquidity, a robust matching engine, advanced security protocols, custody solutions, and risk controls.
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**Disclaimer:** The information presented in this article does not constitute investment advice. Investors should acknowledge the high volatility and associated risks of cryptocurrencies, conducting thorough research before making investment decisions.
