Hedera Hashgraph (HBAR) is a unique cryptocurrency network that aims to revolutionize the world of digital transactions and application deployment. What sets Hedera Hashgraph apart from other cryptocurrencies is its patented Hashgraph algorithm, consensus mechanism, governance structure, and strong partnerships. In this article, we will answer two commonly asked questions: What is Hedera Hashgraph (HBAR) and how can you purchase it using Turkish Lira (TRY).
Contents
1. What is Hedera Hashgraph (HBAR)?
2. How to Buy Hedera Hashgraph (HBAR) 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 HBAR Coin with TL on Binance TR?
7. What is Binance TR?
What is Hedera Hashgraph (HBAR)?
Hedera Hashgraph aims to transform the cryptocurrency landscape by providing fast transaction speeds, enhanced security, and a select group of businesses overseeing its network. Unlike traditional blockchains, Hedera Hashgraph uses a patented algorithm called Hashgraph to efficiently group transactions, resulting in faster and more cost-effective transactions compared to existing blockchain networks. Stay updated on the latest financial and business news by visiting COINTURK FINANCE.
At the core of Hedera Hashgraph is the Hashgraph consensus mechanism, which ensures that all network participants agree on transaction history. Consensus nodes determine the order and history of transactions, while mirror nodes relay this information to other stakeholders. Hedera Hashgraph achieves rapid finality by limiting the number of nodes involved in the consensus process, reducing the risk of transaction reversals.
The Hashgraph consensus mechanism relies on two types of nodes: consensus nodes and mirror nodes. Consensus nodes play a crucial role in determining transaction history, while mirror nodes disseminate this information across the network. This approach ensures secure and irreversible transaction recording, providing businesses with a reliable platform for decision-making.
Hedera Hashgraph is governed by the Hedera Governing Council, which consists of 39 members from leading companies such as Google, IBM, and Boeing. The council oversees the consensus nodes that determine transaction order and ensures the network’s integrity and compliance with legal requirements across jurisdictions. Council members have equal voting rights in network and platform decisions and serve for limited terms.
While the Hedera Governing Council currently operates the main network nodes, the long-term vision is to open node operations to anyone who wants to participate. This decentralized approach aims to enhance the network’s resilience and inclusivity, allowing a broader community to contribute to its growth and development.
How to Buy Hedera Hashgraph (HBAR) with TRY?
Binance TR is the most suitable cryptocurrency exchange for Turkish investors looking to purchase Hedera Hashgraph (HBAR). On Binance TR, you can easily create an account and trade over 100 cryptocurrencies, including HBAR. To buy HBAR with TRY on Binance TR, follow the steps below.
How to Open an Account on Binance TR?
Opening an account on Binance TR is simple. Visit trbinance.com and click on the “Create Account” button. In the first step, provide basic information such as your email address, phone number, name, date of birth, nationality, and T.C. identity number.
After entering the required information accurately, verification will be conducted via email or SMS to confirm your details. Once this process is completed, proceed to the second step, identity verification (KYC).
How to Verify Your Account on Binance TR?
Identity verification on Binance TR is a necessary security measure that must be completed before engaging in cryptocurrency trading. You can perform the verification process using your mobile phone or through the official Binance TR website. Keep in mind that you will need your phone for identity verification through the website.
On the Binance TR website, hover over the “Profile” option at the top right corner, click on “Identity Verification and Limits” from the drop-down menu, and then select “Verify.” You will need to scan the QR code that appears using your phone’s camera and continue the 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.
Once 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.
Next, a screen like the one below will appear. Select the appropriate document type for verification.
After selecting the document type, tap on the “Upload Front Side” option to take a clear photo of the front side of your ID card or driver’s license. Then, tap on the “Upload Back Side” option to take a photo of the back side of the document and upload it. Ensure that the information in the photo is easily readable.
Proceed to the “Selfie” option, where you will need to scan your face using your phone’s front camera. Make sure your face fills the camera area as much as possible.
After completing these steps accurately, your identity verification process will be swiftly finalized.
How to Deposit TL on Binance TR?
You can easily deposit TL into your Binance TR account from any bank. You can deposit and trade 24/7 using accounts from Vakıfbank, Ziraat Bankası, İş Bankası, Akbank, Fibabanka, Şekerbank, and Türkiye Finans without any interruption. For other banks, you can deposit up to 50,000 TL 24/7 using FAST. Deposits exceeding 50,000 TL from other banks are processed during EFT hours.
To deposit money into your Binance TR account, visit trbinance.com and hover over the “Wallet” option at the top left of the main page. Click on the “Deposit” option from the drop-down menu.
A page like the one below will open. Select your preferred bank from this page to proceed with the deposit process. If your 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. When you select Vakıfbank, you will see an account name and IBAN address where you can make a transfer, EFT, or FAST to that bank. Use the provided information to transfer the desired amount to your Binance TR account via transfer, EFT, or FAST.
Once your bank completes the transfer process, the funds will be automatically reflected in your Binance TR account wallet.
How to Buy HBAR Coin with TL on Binance TR?
After completing the deposit process, you can proceed to purchase HBAR coins with TL. Click on the “Buy-Sell” option in the top left menu on the Binance TR website.
After clicking on this option, you will be directed to the page shown below. Type “HBAR” in the search section on the right side of the page and click on the HBAR/TRY option from the results to go to the HBAR/TRY purchase page.
The HBAR trading page will open. In the red box, enter the desired price at which you want to buy HBAR in the first box, and the number of HBAR coins you want to purchase in the second box. After entering the required details, click on the “Buy HBAR” button to complete your purchase.
What is Binance TR?
Binance TR is the official platform of Binance, the world’s largest cryptocurrency exchange by trading volume, specifically designed for cryptocurrency investors in Turkey. Established in 2020 and headquartered in Istanbul, Binance TR provides both fiat-to-crypto and crypto-to-crypto trading services, leveraging Binance’s technology, security measures, and liquidity through the Binance Cloud infrastructure. Users in Turkey can easily deposit and withdraw Turkish Lira (TRY) directly through their bank accounts and trade various cryptocurrencies with TRY trading pairs on Binance TR.
Users supported by Binance TR gain access to market-leading spot trading liquidity, a powerful matching engine, advanced security protocols, custody solutions, and risk controls.
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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 risks. It is recommended to conduct thorough research before making any investment decisions.
