LeverFi (LEVER) is an innovative decentralized finance (DeFi) protocol operating on the Ethereum Blockchain. Its primary goal is to optimize asset efficiency and trading within the DeFi ecosystem. By addressing the pain points of existing DeFi protocols, LeverFi offers a range of features that aim to reduce risks, provide sustainable returns, and optimize asset management. In this article, we will explore two frequently asked questions: What is LeverFi (LEVER), and how can you buy LeverFi (LEVER) using TRY?
Table of Contents:
– What is LeverFi (LEVER)?
– How to Buy LeverFi (LEVER) with TRY?
– How to Open an Account on Binance TR?
– How to Verify an Account on Binance TR?
– How to Deposit TL on Binance TR?
– How to Buy LEVER Coin with TL on Binance TR?
– What is Binance TR?
– What is LeverFi (LEVER)?
LeverFi is a non-custodial, on-chain leveraged trading protocol designed to enhance asset efficiency within the DeFi ecosystem. Asset efficiency refers to the effective use of time and assets to maximize returns while minimizing risks and costs. LeverFi offers transparency and self-custody over assets, providing a seamless trading experience while mitigating common DeFi issues. By consolidating yield-generating assets into a single collateral basket, LeverFi allows investors to take larger trading positions while reducing liquidation risk. Additionally, investors can earn yields while trading on margin, and the protocol ensures optimal pricing and minimal slippage by routing transactions through various trading protocols.
Lenders on LeverFi can earn real yields by lending their assets to traders without being exposed to directional risks. LeverFi’s robust protocol design enables secure and non-custodial interactions between lenders and traders, offering highly competitive and sustainable returns. The protocol operates through four main components: the Collateral Manager, Trading Manager, Lending Manager, and Risk Manager. These components, supported by smart contracts, facilitate tasks such as collateral management, trade execution, yield accrual, and risk management within the protocol.
LeverFi stands out in the DeFi environment for several reasons. It allows investors to earn yields and leverage trades simultaneously, offers transaction settlement on the protocol, and enables the consolidation of assets into a unified collateral basket for cross-margin trading. LeverFi also prioritizes optimized asset pricing, enhanced investor support, and competitive real yields in the market. The mainnet asset of the LeverFi ecosystem is the LEVER coin, which serves as both a governance token and a tool for users to stake and earn rewards. LEVER holders can participate in protocol governance and stake their tokens to earn a portion of the platform fees generated from user activities.
Now, let’s delve into how you can buy LeverFi (LEVER) with TRY.
To buy LeverFi (LEVER) with TRY, Binance TR is the most suitable cryptocurrency exchange for investors in Turkey. Binance TR allows you to quickly create an account and offers a wide range of cryptocurrencies, including LEVER. Follow the steps below to buy LeverFi (LEVER) with TRY on Binance TR.
First, you need to open an account on Binance TR. Visit trbinance.com and proceed from the “Create Account” step. In this step, you will be required to provide basic information such as your email address, phone number, name, surname, date of birth, nationality, and T.C. identity number.
After entering the requested information accurately, a verification process will be conducted via email/SMS to confirm the information. Once this process is completed, you will move on to the next step, which is identity verification (KYC).
Identity verification is a crucial security procedure that must be completed before engaging in cryptocurrency trading and during account creation. You can perform the verification process either through your phone or using the official Binance TR website. Note that you will need your mobile phone for identity verification through the website.
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 click on “Verify.” In the next step, 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 click on the “Copy URL” option to receive the identity verification address via SMS.
Upon entering the address on your phone or scanning the QR code, a screen will appear on your phone. Tap on the “Identity” option to proceed with the verification process.
Next, you will see a screen where you need to select the document type suitable for you. 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 clear photo of the back side of the document. Ensure that the information in the photo is easily readable.
After completing the document upload, 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 accurately and completely followed these steps, your identity verification process will be completed shortly.
After completing the verification process, you can proceed to deposit TL into your Binance TR account. You can easily deposit TL from any bank. Binance TR supports deposits and trading 24/7 from Vakıfbank, Ziraat Bankası, İş Bankası, Akbank, Fibabanka, Şekerbank, and Türkiye Finans accounts. For other banks, deposits up to 50,000 TL can be made 24/7 via FAST, while deposits over 50,000 TL are 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 the “Deposit” option from the drop-down menu. On the deposit page, select your preferred bank. If your bank is not integrated with Binance TR, click on the “Other Banks” option.
For example, if you choose Vakıfbank, you will see an account name and IBAN address for transferring funds via wire transfer, EFT, or FAST. Use the provided information to transfer the desired amount into your Binance TR account.
Once your bank completes the transfer process, the funds will automatically be reflected in your Binance TR account wallet.
After completing the deposit process, you can proceed to buy LEVER coin with TL. Click on the “Buy-Sell” option in the top left menu of the Binance TR website. On the resulting page, type “LEVER” in the search box on the right side. Click on the LEVER/TRY option from the search results to access the LEVER purchase page with TL.
The LEVER trading page will open, where you can enter the price at which you want to buy LEVER and the quantity you wish to purchase. After entering the required information, click the “Buy LEVER” button to complete your purchase.
In summary, Binance TR is the ideal cryptocurrency exchange for purchasing LeverFi (LEVER) with TRY in Turkey. The platform provides a seamless account creation process and offers a wide range of cryptocurrencies, including LEVER. By following the steps outlined in this article, you can easily open an account, verify your identity, deposit TL, and buy LEVER coin on Binance TR.
What is Binance TR?
Binance TR is the Turkish platform of Binance, the world’s largest cryptocurrency exchange in terms of trading volume. Launched in 2020, Binance TR caters specifically to cryptocurrency investors in Turkey. The platform, headquartered in Istanbul, leverages Binance’s technology, security measures, and liquidity provided through the Binance Cloud infrastructure. Binance TR offers both fiat-to-crypto and crypto-to-crypto trading services, allowing users in Turkey to seamlessly deposit and withdraw Turkish lira (TRY) directly through bank channels. Users can also trade various cryptocurrencies using TRY trading pairs on Binance TR. The platform provides access to market-leading spot trading liquidity, a powerful matching engine, advanced security protocols, custody solutions, and risk controls.
