Immutable X (IMX) is a revolutionary solution that aims to address the scalability issues of Ethereum-based NFTs while enhancing user experience. In this article, we will explore what Immutable X is and how to purchase IMX using Turkish Lira (TRY).
Founded in 2018 by James Ferguson, Robbie Ferguson, and Alex Connolly, Immutable X is designed to provide instant transaction confirmation and near-zero transaction fees for minting and trading NFTs. This results in a seamless and cost-effective experience for users. By leveraging innovative scaling technology, Immutable X aims to unlock the full potential of NFTs while maintaining the security and decentralization of the Ethereum network. For the latest technology news, you can visit NEWSLINKER.
At the core of Immutable X lies a Layer 2 protocol called Zero-Knowledge Rollup (ZK-Rollup). This protocol aggregates multiple transactions into a single zero-knowledge proof known as zk-STARK. The proof is then sent to the Ethereum Blockchain and verified by a smart contract, significantly reducing the computational and storage resources required for transaction validation. As a result, Immutable X can achieve speeds of up to 9,000 transactions per second (TPS) with zero transaction fees for end-users, making it an efficient solution for NFT trading and minting.
One of the key advantages of Immutable X is its commitment to environmental sustainability. By utilizing ZK-Rollup, the platform achieves 100% carbon neutrality, leading to a significant reduction in energy consumption compared to traditional Ethereum transactions. Additionally, Immutable X provides robust REST APIs and user-friendly software development kits (SDKs) that enable developers to easily integrate NFT functionality into their applications. This allows for the rapid development of NFT projects, including play-to-earn games, with minimal time and effort.
IMX coin serves as the main network asset of Immutable X and functions as both a utility and governance token within the platform. With a total supply of 2 billion, IMX is used for paying transaction fees, incentivizing users and developers, and participating in platform governance. Participants can earn IMX coins through various activities such as trading NFTs, contributing to platform growth, and staking in reward pools. Additionally, IMX holders have voting power in the governance of Immutable X, allowing them to submit community proposals and participate in votes.
If you are interested in purchasing Immutable X (IMX) with Turkish Lira (TRY), Binance TR is the most suitable cryptocurrency exchange for investors in Turkey. Binance TR offers a wide range of cryptocurrencies, including IMX, and allows for quick and easy account creation. To buy IMX on Binance TR, follow these steps:
1. Open an account on Binance TR by visiting trbinance.com and proceeding with the “Create Account” step. Provide the required basic information such as email address, phone number, name-surname, date of birth, nationality, and T.C. identity number.
2. After entering the information accurately, undergo email/sms verification to confirm the provided details. Once this process is completed, proceed to the second step, which is identity verification (KYC).
3. Identity verification is a crucial security measure that needs to be completed before engaging in cryptocurrency trading. 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 select “Verify.” Follow the instructions to scan the QR code using your phone’s camera and continue the process on your phone. If you cannot scan the QR code, you can opt for the “Copy URL” option to receive the identity verification address via SMS.
4. Once you access the verification address on your phone or scan the QR code, a screen will prompt you to tap on the “Identity” option. Select the appropriate document type and proceed to upload the front and back sides of the document. Ensure that the images are clear and the information is easily readable.
5. After uploading the document images, tap on the “Selfie” option. Scan your face using your phone’s front camera and make sure your face fills the camera area as much as possible.
6. Once you have completed all the steps accurately, your identity verification process will be finalized shortly.
To deposit Turkish Lira (TL) into your Binance TR account, you can easily do so from any bank. Binance TR supports deposits from banks such as Vakıfbank, Ziraat Bankası, İş Bankası, Akbank, Fibabanka, Şekerbank, and Türkiye Finans, allowing for uninterrupted transactions. For other banks, you can make deposits up to 50,000 TL 24/7 using FAST. Deposits over 50,000 TL from other banks are processed during EFT hours.
To deposit money, go to trbinance.com, hover over the “Wallet” option at the top left of the main page, and click on “Deposit” from the drop-down menu. Select your preferred bank or choose the “Other Banks” option if your bank is not integrated with Binance TR. Follow the instructions provided on the page to complete the transfer using the displayed account name and IBAN address.
After your bank completes the transfer process, the funds will be automatically reflected in your Binance TR wallet.
To buy IMX coin with TL on Binance TR, click on the “Buy-Sell” option in the top left menu on the Binance TR website. On the following page, enter “IMX” in the search section and select the IMX/TRY option from the results. This will take you to the IMX buying page. Enter the desired price and quantity of IMX in the designated boxes and click the “Buy IMX” button to complete your purchase.
Binance TR is the Turkish version of Binance, the world’s largest cryptocurrency exchange by trading volume. Binance TR was launched in 2020 specifically for cryptocurrency investors in Turkey. It leverages Binance’s technology, security measures, and liquidity provided through Binance Cloud infrastructure to offer both fiat-to-crypto and crypto-to-crypto trading services. Users in Turkey can deposit and withdraw Turkish lira (TRY) directly through bank channels and trade various cryptocurrencies with TRY trading pairs via Binance TR. Binance TR provides market-leading spot trading liquidity, a powerful matching engine, advanced security protocols, custody solutions, and risk controls.
Please note that the information provided in this article does not constitute investment advice. Cryptocurrencies are highly volatile assets, and investors should conduct their own research and be aware of the associated risks.