COTI (COTI) is an innovative platform that provides solutions for the digital payment industry and the corporate token ecosystem. It utilizes a Directed Acyclic Graph (DAG) protocol and a unique Proof of Trust consensus algorithm to enable fast, secure, and eco-friendly high-volume transactions. COTI is designed to comply with regulations and offers businesses cost-effective, sustainable, and legally compliant payment solutions with KYC and AML controls. This article aims to answer two commonly asked questions: What is COTI (COTI), and how can you purchase COTI (COTI) with TRY?
Table of Contents:
1. What is COTI (COTI)?
2. How to Purchase COTI (COTI) with TRY?
3. How to Open an Account on Binance TR?
4. How to Verify Your Account on Binance TR?
5. How to Deposit TL on Binance TR?
6. How to Buy COTI Coin with TL on Binance TR?
7. What is Binance TR?
What is COTI (COTI)?
COTI is an advanced platform that revolutionizes the digital payment industry and the corporate token ecosystem. Its main objective is to provide scalable, secure, and instant payment solutions. To achieve this, COTI combines a unique Proof of Trust consensus algorithm with a DAG protocol, distinguishing it from traditional Blockchain technologies. The DAG-based protocol allows COTI to overcome the limitations of traditional Blockchains, enabling high-volume transactions per second. This makes it an ideal choice for businesses that require real-time transaction capabilities, ensuring quick and efficient payment processing. The Proof of Trust consensus algorithm enhances security and scalability by incorporating trust scores that facilitate more efficient and eco-friendly transaction verification.
COTI is notable for its commitment to eco-friendliness. Unlike traditional Blockchain networks that rely on energy-intensive mining processes, COTI avoids mining altogether. This significantly reduces its carbon footprint, aligning with global efforts to promote sustainable and green technologies. By eliminating the need for mining, COTI also reduces operational costs, making it a cost-effective solution for businesses.
COTI’s ecosystem is designed with regulatory compliance in mind. It includes Know Your Customer (KYC) and Anti-Money Laundering (AML) controls to ensure that all transactions adhere to legal standards. Regulatory readiness is crucial for businesses operating in the Web3 world, where compliance with legal frameworks is essential for preventing fraud and ensuring transparency.
Additionally, COTI offers a range of services tailored to the needs of modern businesses. Its comprehensive package includes payment solutions that can be seamlessly integrated into existing business models. This allows companies to enhance their payment infrastructure using COTI’s technology without requiring a complete overhaul of their existing systems.
How to Purchase COTI (COTI) with TRY?
Binance TR is the most suitable cryptocurrency exchange for Turkish investors looking to buy COTI (COTI). On Binance TR, which allows for quick account creation, you can buy and sell over 100 cryptocurrencies, including COTI. To purchase COTI (COTI) with TRY on Binance TR, follow the steps below.
How to Open an Account on Binance TR?
Opening an account on Binance TR is a straightforward process. Simply visit trbinance.com and proceed to the “Create Account” step. In the first step, you will be required to provide basic information such as your email address, phone number, name, date of birth, nationality, and T.C. identity number.
After entering all the requested information accurately, a verification process will be conducted via email or SMS to confirm your details. Once this process is completed, you can proceed to the second step, which is identity verification (KYC).
How to Verify Your Account on Binance TR?
Identity verification on Binance TR is a necessary security procedure that must be completed before engaging in cryptocurrency trading or during the account creation process. This process ensures the safety of both the user and the cryptocurrency exchange. You can complete the verification process either through your mobile phone or via Binance TR’s official website. Please note that you will need your mobile phone to complete the identity verification process on the website.
On the Binance TR website, hover over the “Profile” option at the top right corner, click on “Identity Verification and Limits” in the drop-down menu, and then select “Verify.” You will then need to scan the QR code that appears using your phone’s camera and continue the verification process on your phone. If you are unable to scan the QR code, you can click on the “Copy URL” option to receive the identity verification address via SMS on your phone.
When you enter the address on your phone or scan the QR code, a screen similar to the one below will appear. Tap on the “Identity” option to proceed with the verification process.
Then, a screen like the one below will be displayed. To continue with the verification process, select the appropriate document type.
After selecting the document type, tap on the “Upload front side” option. Take a clear photo of the front side of your ID card or driver’s license according to the document type you selected. Then, tap on the “Upload back side” option and take a photo of the back side of your document. Ensure that the images are clear and that all the information on your ID card or driver’s license is easily readable.
Next, tap on the “Selfie” option. Your phone’s front camera will open, and you will need to scan your face. Make sure your face fills the camera area as much as possible.
Once you have completed all these steps accurately and thoroughly, your identity verification process will be completed shortly.
How to Deposit TL on Binance TR?
You can easily deposit TL into your Binance TR account from any bank. You can deposit TL 24/7 and trade seamlessly using your Vakıfbank, Ziraat Bankası, İş Bankası, Akbank, Fibabanka, Şekerbank, or Türkiye Finans accounts. For other banks, you can deposit up to 50,000 TL 24/7 using FAST. Deposits exceeding 50,000 TL from other banks will be processed during EFT hours.
To deposit money into your Binance TR account, go to trbinance.com, hover over the “Wallet” option at the top left of the homepage, and click on “Deposit” in the drop-down menu.
Then, a page like the one below will open. Select your preferred bank from this page to continue the deposit process. If your preferred bank is not yet integrated with Binance TR, click on the “Other Banks” option.
In this example, we will continue with Vakıfbank, but the process is the same for all other banks. Clicking on the Vakıfbank option will display an account name and IBAN address where you can make a transfer, EFT, or FAST payment. Use the information shown on the page corresponding to your preferred bank to transfer the desired amount into your Binance TR account via transfer, EFT, or FAST.
After your bank completes the transfer process, the funds you sent will be automatically reflected in your Binance TR account wallet.
How to Buy COTI Coin with TL on Binance TR?
After depositing funds, you can proceed to purchase COTI coin with TL by clicking on the “Buy-Sell” option in the top left menu on the Binance TR website.
After clicking on this option, the following page will open. Type “COTI” in the search section on the right side of the page and click on the COTI/TRY option from the search results to go to the TL to COTI purchase page.
The COTI trading page will then appear. Enter the desired purchase price for COTI in the first box marked with a red box, and enter the quantity of COTI you wish to purchase in the second box. After entering the required information, click the “Buy COTI” button to complete your purchase.
What is Binance TR?
Binance, the world’s largest cryptocurrency exchange in terms of trading volume, launched Binance TR in 2020 specifically for cryptocurrency investors in Turkey. Binance TR, headquartered in Istanbul, can be accessed at trbinance.com.
Binance TR offers trading services from fiat to cryptocurrency and from cryptocurrency to cryptocurrency by leveraging Binance’s technology, security measures, and liquidity provided through Binance Cloud infrastructure. Users in Turkey can easily deposit and withdraw Turkish lira (TRY) via direct bank channels and trade various cryptocurrencies with TRY trading pairs on Binance TR.
By using Binance TR, users gain access to market-leading spot trading liquidity, a powerful matching engine, advanced security protocols, custody solutions, and risk controls supported by Binance’s core functions.
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Disclaimer:
The information provided in this article should not be considered investment advice. Investors should be aware that cryptocurrencies are highly volatile and carry risks. Conduct your own research before making any investment decisions.
