Ravencoin (RVN) is a revolutionary Blockchain platform that streamlines the creation and transfer of digital assets that mirror real-world assets. With Ravencoin, users have the ability to mine using their CPUs and generate unique coins. Moreover, the platform allows for seamless communication and reward distribution among RVN coin holders. This article delves into two common queries: What exactly is Ravencoin (RVN), and how can one purchase Ravencoin (RVN) using TRY currency?
Discovering Ravencoin (RVN)
Ravencoin stands out as a cutting-edge blockchain software that incentivizes a network of computers to facilitate the creation and transfer of distinct cryptocurrencies. Unlike its counterparts, Ravencoin is specifically tailored to represent tangible assets such as securities, collectibles, precious metals, event tickets, and even loyalty points. Initially launched as an open-source derivative of Bitcoin, Ravencoin’s development team modified Bitcoin’s original codebase to introduce a platform with unique features and objectives. For the latest tech updates, access NEWSLINKER.
A key feature of Ravencoin is its capacity to enable users to generate customized assets on its network. This includes exclusive attributes like one-minute block times, a block reward of 5,000 RVN coins, and a capped supply of 21 billion RVN. While Ravencoin employs a Proof of Work (PoW) consensus mechanism akin to Bitcoin’s to secure its network, it allows users to mine using their CPU, eliminating the need for specialized hardware.
Though Ravencoin’s code stems from Bitcoin, it establishes its distinct network, asset, and protocol regulations. These parameters have been adjusted to promote asset creation and foster communication among users holding specific coins within the network. Ravencoin utilizes a modified version of the Proof of Work consensus mechanism known as KAWPOW, which is designed to lower the entry barrier for mining, enabling more users to participate in network security, transaction validation, and the distribution of freshly minted RVN coins.
To create a new cryptocurrency on Ravencoin, a user must burn a specific amount of RVN coins and assign a unique name to the coins. During this process, issuers can define specific attributes such as total supply, decimal places for fractionalization, and fungibility of the coin. Coin issuers can also reward coin holders with RVN coins, thus facilitating dividend distribution or the creation of incentives within a community or organization.
Ravencoin features a messaging tool that enables coin creators to communicate with coin holders, especially when voting is required for new proposals. Since all RVN coins are transferable, coin holders can delegate their voting rights to other network users or sell their stakes within a community at their discretion.
Purchasing Ravencoin (RVN) with TRY
For investors in Turkey looking to acquire Ravencoin (RVN), Binance TR emerges as the most suitable cryptocurrency exchange. Binance TR offers over 100 cryptocurrencies, including RVN, for trading, and account creation is swift. To purchase Ravencoin (RVN) using TRY on Binance TR, follow the steps outlined below.
Creating an Account on Binance TR
Opening an account on Binance TR is a straightforward process. Visit trbinance.com and proceed to the “Create Account” section. The initial step involves entering basic information like email address, phone number, name, date of birth, nationality, and T.C. identity number.
For complete and accurate information, email/SMS verification is conducted to confirm the details. Subsequently, proceed to identity verification (KYC) as the second step.
Verifying an Account on Binance TR
Account verification on Binance TR is a crucial security step that must be completed before engaging in cryptocurrency trading and during account setup. This process safeguards both the user and the cryptocurrency exchange. Identity verification can be completed via phone or through Binance TR’s official website, requiring access to a mobile phone for verification.
On the Binance TR website, navigate to the “Profile” option at the top right, select “Identity Verification and Limits” from the dropdown menu, and click “Verify.” Scan the QR code displayed using your phone’s camera to proceed with verification. If unable to scan the QR code, use the “Copy URL” option to send the verification address to your phone via SMS.
Upon entering the address on your phone or scanning the QR code, a screen will prompt you to select the document type for verification. Follow the steps to upload the front and back of the document as well as a selfie for the verification process.
After accurately completing these steps, your identity verification will be finalized promptly.
Depositing TL on Binance TR
TL deposits into your Binance TR account can be made easily from all banks. Deposits can be initiated 24/7, with FAST enabling seamless transactions from Vakıfbank, Ziraat Bankası, İş Bankası, Akbank, Fibabanka, Şekerbank, and Türkiye Finans accounts. Deposits up to 50,000 TL are processed instantly via FAST, while deposits exceeding 50,000 TL are processed during EFT hours.
To deposit funds into your Binance TR account, visit trbinance.com, hover over the “Wallet” option at the top left, and select “Deposit” from the dropdown menu. Choose your preferred bank to proceed with the deposit process.
For instance, selecting Vakıfbank will display an account name and IBAN address for transfer. Utilize the provided information to transfer the desired amount into your Binance TR account via transfer, EFT, or FAST.
After the completion of the transfer, the deposited funds will reflect in your Binance TR account wallet automatically.
Buying RVN Coin with TL on Binance TR
Following the deposit process, proceed to purchase RVN coins using TL by clicking the “Buy-Sell” option in the Binance TR website’s top left menu. Enter “RVN” in the search bar to access the RVN/TRY trading pair.
On the RVN trading page, input the desired price and quantity of RVN coins to purchase, then finalize the transaction by clicking the “Buy RVN” button.
Introducing Binance TR
Binance, the world’s leading cryptocurrency exchange in terms of trading volume, introduced Binance TR in 2020 specifically for cryptocurrency investors in Turkey. Headquartered in Istanbul, Binance TR leverages Binance’s technology, security protocols, and liquidity via Binance Cloud infrastructure to offer fiat-to-crypto and crypto-to-crypto trading services seamlessly.
Supported by Binance’s core features, users in Turkey can access top-notch spot trading liquidity, a robust matching engine, advanced security measures, custody solutions, and risk controls through Binance TR.
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Disclaimer: The information presented in this article does not serve as investment advice. Investors should acknowledge the high volatility and associated risks of cryptocurrencies, conducting thorough research before making any investment decisions.
