Near Protocol (NEAR) is an innovative protocol that aims to incentivize a network of computers to create and launch decentralized applications (dApps). The protocol utilizes sharding, which divides the network’s infrastructure to improve efficiency and scalability. In this article, we will provide answers to two frequently asked questions: What is Near Protocol (NEAR), and how can you purchase Near Protocol (NEAR) using TRY?
What is Near Protocol (NEAR)?
Near Protocol is a revolutionary Blockchain-based protocol designed to facilitate the development and deployment of dApps. Unlike centralized data storage systems like Amazon Web Services (AWS), Near Protocol operates on a distributed computer network, offering increased decentralization and flexibility. The main asset of Near Protocol is NEAR coin, which powers the ecosystem and incentivizes participation in the network.
Near Protocol utilizes a Proof of Stake (PoS) consensus mechanism and employs sharding, known as ‘Nightshade’, to enhance scalability. Sharding divides the Blockchain into segments, with each node responsible for processing a small subset of data. This approach enables higher transaction throughput and lower fees while maintaining security.
Nightshade allows Near Protocol to maintain a single data chain while distributing the computational workload among network nodes. This contributes to the platform’s power and scalability by reducing potential bottlenecks and increasing efficiency.
Near Protocol features the Rainbow Bridge application, which facilitates seamless token transfers between Ethereum and NEAR. Users can deposit their ETH into a smart contract that locks the funds and generates equivalent tokens on the Near Protocol platform. This bridge enables interoperability and enhances accessibility for users and developers.
Aurora is a Layer 2 scaling solution designed to host Ethereum dApps on the Near Protocol network. Leveraging the Ethereum Virtual Machine (EVM) coding technology, Aurora allows developers to deploy Ethereum smart contracts on NEAR while benefiting from low fees and high throughput.
Aurora offers developers the opportunity to leverage Ethereum’s existing ecosystem and application network while accessing Near Protocol’s advantages, such as low fees and high throughput. The cross-chain bridge ensures seamless integration and interoperability between Ethereum and Near Protocol.
How to Buy Near Protocol (NEAR) with TRY?
Binance TR is the most suitable cryptocurrency exchange for investors in Turkey who want to purchase Near Protocol (NEAR). Binance TR allows you to buy and sell over 100 cryptocurrencies, including NEAR, with a quickly created account. Follow the steps below to buy Near Protocol (NEAR) 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 to the “Create Account” step. In this step, you will be required to enter basic information such as your email address, phone number, name, date of birth, nationality, and T.C. identity number.
After entering the requested information accurately, an email/SMS verification will be conducted to confirm the details. Once this process is completed, you will 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 and during account creation. This process ensures the protection of both the user and the cryptocurrency exchange. You can perform the verification process using your phone or Binance TR’s official website. Please note that you will need your mobile phone to verify your identity on 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”. After this step, 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 on your phone.
When you enter the address on your phone or scan the QR code, a screen similar to the one below will open. From here, continue by selecting the “Identity” option.
Then, a screen like the one below will appear. To proceed with the verification process, select the document type that is suitable for you.
After selecting the document type, continue by selecting the “Upload Front Side” option. Take a clear photo of the front side of the document based on the selected document type, then select the “Upload Back Side” option and take a photo of the back side of the document. Ensure that the images are clear and that the information in the photo is easily legible when capturing photos of the front and back sides of your ID card or driver’s license.
Next, proceed by selecting the “Selfie” option. Your phone’s front camera will open, and you will need to scan your face. Ensure that your face fills the camera area as much as possible once the camera is activated.
After completing all these steps accurately, your identity verification process will be completed shortly.
How to Deposit TRY on Binance TR?
You can easily deposit TRY into your Binance TR account through various banks. You can deposit TRY 24/7 from banks such as Vakıfbank, Ziraat Bankası, İş Bankası, Akbank, Fibabanka, Şekerbank, and Türkiye Finans, allowing uninterrupted transactions. For other banks, you can deposit up to 50,000 TRY 24/7 via FAST. Deposits over 50,000 TRY from other banks are processed during EFT hours.
To deposit money into your Binance TR account, visit trbinance.com, hover over the “Wallet” option in the top left corner of the homepage, and click on the “Deposit” option from the drop-down menu.
On the page that appears, you can continue the deposit process by selecting your preferred bank. If your preferred bank is not yet integrated with Binance TR, click on the “Other Banks” option.
In this example, we will continue using Vakıfbank, but the process is the same for all other banks. When you click on the Vakıfbank option, an account name and IBAN address will be displayed for you to make a transfer, EFT, or FAST to that bank. Simply use the information provided on the bank’s page to transfer the desired amount into your Binance TR account via transfer, EFT, or FAST.
Once your bank completes the transfer, the funds you sent will automatically be reflected in your Binance TR account wallet.
How to Buy NEAR Coin with TRY on Binance TR?
After completing the deposit process, you can proceed to purchase NEAR coin with TRY by clicking on the “Buy-Sell” option in the top left menu of the Binance TR website.
After selecting this option, you will be directed to the following page. On the right side of the page, type “NEAR” in the search box and click on the NEAR/TRY option from the results to access the TL to NEAR purchase page.
On the NEAR purchase page, enter the desired price at which you want to buy NEAR in the first box and the quantity of NEAR you want to purchase in the second box, as indicated by the red box. After entering the amount, click the “Buy NEAR” button to complete your purchase.
What is Binance TR?
Binance TR is the official cryptocurrency exchange platform for investors in Turkey, launched by Binance, the world’s largest cryptocurrency exchange by trading volume, in 2020. Headquartered in Istanbul, Binance TR can be accessed at trbinance.com.
Binance TR leverages Binance’s technology, security measures, and liquidity provided through the Binance Cloud infrastructure to offer both fiat-to-crypto and crypto-to-crypto trading services. Users in Turkey can easily deposit and withdraw Turkish Lira (TRY) through direct banking channels and trade various cryptocurrencies with TRY trading pairs via Binance TR.
With Binance TR, users gain access to market-leading spot trading liquidity, a powerful matching engine, advanced security protocols, custody solutions, and risk controls, all supported by Binance’s core functionalities.
Please note that the information provided in this article does not constitute investment advice. Investors should be aware that cryptocurrencies are highly volatile and carry risks, and should conduct their own research.
