LeverFi (LEVER) is a decentralized finance (DeFi) protocol operating on the Ethereum Blockchain. Its primary objective is to optimize asset efficiency and trading within the DeFi ecosystem. LeverFi aims to address the challenges faced by existing DeFi protocols by offering a range of features that mitigate risks, provide sustainable returns, and optimize asset management. In this article, we will provide answers to two frequently asked questions: What is LeverFi (LEVER) and how to purchase LeverFi (LEVER) using TRY.
Table of Contents:
1. What is LeverFi (LEVER)?
2. How to Purchase LeverFi (LEVER) with TRY?
3. How to Open an Account on Binance TR?
4. How to Verify an Account on Binance TR?
5. How to Deposit TL on Binance TR?
6. How to Buy LEVER Coin with TL on Binance TR?
7. What is Binance TR?
What is LeverFi (LEVER)?
LeverFi is an on-chain leveraged trading protocol that operates in a non-custodial manner. It is designed to enhance asset efficiency within the DeFi ecosystem. Asset efficiency refers to the optimal utilization of time and assets to maximize returns while minimizing risks and costs. LeverFi offers users transparency and self-custody over their assets, providing a seamless trading experience while addressing common DeFi issues. To stay updated on the latest financial and business news, visit COINTURK FINANCE.
Investors on LeverFi have the opportunity to manage their yield-generating assets within a single collateral basket. This allows them to take larger trading positions while reducing the risk of liquidation. Additionally, investors can earn yields while trading on margin. The protocol routes transactions through various trading protocols to ensure optimal pricing and minimal slippage.
Lenders on LeverFi can earn real yields by lending their assets to traders without being exposed to directional risks. LeverFi’s robust protocol design facilitates secure and non-custodial interactions between lenders and traders, offering highly competitive and sustainable returns.
LeverFi operates through four main components: the Collateral Manager, Trading Manager, Lending Manager, and Risk Manager. These components, supported by smart contracts, enable tasks such as collateral management, trade execution, yield accrual, and risk management within the protocol.
LeverFi stands out in the DeFi landscape for several reasons. It allows investors to simultaneously earn yields and leverage trades. The protocol offers transaction settlement, enabling the consolidation of assets into a unified collateral basket for cross-margin trading. LeverFi prioritizes optimized asset pricing, enhanced investor support, and competitive real yields in the market.
LEVER coin serves as the mainnet asset of the LeverFi ecosystem. It functions 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.
How to Buy LeverFi (LEVER) with TRY?
For investors in Turkey, Binance TR is the most suitable cryptocurrency exchange to purchase LeverFi (LEVER). On Binance TR, you can conveniently create an account and trade over 100 cryptocurrencies, including LEVER. To buy LeverFi (LEVER) 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 simple process. Visit trbinance.com and proceed to the “Create Account” step. In the initial stage of account creation, 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 via email/SMS will be conducted to confirm the provided details. Once this process is completed, you will move on to the second step, which is identity verification (KYC).
How to Verify an Account on Binance TR?
Identity verification on Binance TR is a security measure that must be completed before engaging in cryptocurrency trading and during the account creation process. This verification process is essential to protect both the user and the cryptocurrency exchange. You can perform the verification process either through your phone or via the official Binance TR website. 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” from the drop-down menu, and then select “Verify.” In the next 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, click on the “Copy URL” option to receive the identity verification address via SMS on your phone.
Once you enter the address on your phone or scan the QR code, a screen similar to the one below will appear. From here, proceed by selecting the “Identity” option.
Next, a screen similar to the one below will be displayed. To continue the verification process, select the appropriate document type and proceed.
After selecting the document type, continue by selecting the “Upload Front Side” option. Take a clear photo of the front side of your ID card or driver’s license, depending on the document type you selected. Then, select the “Upload Back Side” option and take a photo of the back side of your ID card or driver’s license. Ensure that the images are clear and the information on the document is easily readable.
Once the front and back sides of your ID card or driver’s license are uploaded, 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 occupies as much of the camera area as possible.
After accurately and completely following all these steps, 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. Vakıfbank, Ziraat Bankası, İş Bankası, Akbank, Fibabanka, Şekerbank, and Türkiye Finans accounts allow seamless deposits and trades 24/7. Deposits up to 50,000 TL can be made 24/7 via FAST from other banks. Deposits over 50,000 TL from other banks are processed during EFT hours.
To deposit money into your Binance TR account, visit trbinance.com, hover over the “Wallet” option at the top left of the homepage, and select the “Deposit” option from the drop-down menu.
On the page that appears, select your preferred bank 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. When you click on the Vakıfbank option, you will see an account name and IBAN address for wire transfer, EFT, or FAST transfers. Use the information provided on the page of your chosen bank to transfer the desired amount to your Binance TR account.
Once your bank completes the transfer process, the funds will automatically be reflected in your Binance TR account wallet.
How to Buy LEVER Coin with TL on Binance TR?
After completing the deposit process, you can proceed to purchase LEVER coin with TL by clicking on the “Buy-Sell” option in the top left menu of the Binance TR website.
Upon clicking this option, you will be directed to the page shown below. On the right side of the page, enter “LEVER” in the search box and select the LEVER/TRY option from the results to access the LEVER purchase page with TL.
The following LEVER trading page will open. In the red-marked area, enter the desired price to buy LEVER in the first box, and the quantity of LEVER you wish to purchase in the second box. After entering the required information, click the “Buy LEVER” button to complete your purchase.
What is Binance TR?
Binance TR is the Turkish cryptocurrency exchange launched by Binance, the largest cryptocurrency exchange by trading volume in the world. Binance TR was established in 2020 to cater specifically to cryptocurrency investors in Turkey. The exchange, headquartered in Istanbul, can be accessed at trbinance.com.
Binance TR leverages the technology, security measures, and liquidity provided by 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) directly through bank channels and trade various cryptocurrencies with TRY trading pairs via Binance TR.
Users supported by Binance’s core functions can access market-leading spot trading liquidity, a powerful matching engine, advanced security protocols, custody solutions, and risk controls through Binance TR.
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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 associated risks. Conduct your own research before making any investment decisions.