COTI (COTI) is an innovative platform that provides solutions for the digital payment industry and corporate token ecosystem. With its Directed Acyclic Graph (DAG) protocol and unique Proof of Trust consensus algorithm, COTI enables fast, secure, and eco-friendly high-volume transactions. It is designed to comply with regulations, offering businesses cost-effective, sustainable, and legally compliant payment solutions with Know Your Customer (KYC) and Anti-Money Laundering (AML) controls. In this article, we will answer two frequently asked questions: What is COTI (COTI), and how can you purchase COTI (COTI) with Turkish Lira (TRY)?
Contents
What is COTI (COTI)?
How to Purchase COTI (COTI) with TRY?
How to Open an Account on Binance TR?
How to Verify Your Account on Binance TR?
How to Deposit Turkish Lira (TL) on Binance TR?
How to Buy COTI Coin with TL on Binance TR?
What is Binance TR?
What is COTI (COTI)?
COTI is an advanced platform that revolutionizes the digital payment industry and corporate token ecosystem. Its main objective is to provide scalable, secure, and instant payment solutions. Unlike traditional Blockchain technologies, COTI utilizes a unique Proof of Trust consensus algorithm combined with a DAG protocol, allowing it to overcome the limitations faced by traditional Blockchain systems. This enables high-volume transactions per second (TPS), making it ideal for businesses requiring real-time transaction capabilities. The Proof of Trust consensus algorithm also enhances security and scalability by incorporating trust scores to verify transactions more efficiently and in an environmentally friendly manner.
One of COTI’s notable features is its commitment to being eco-friendly. Unlike traditional Blockchain networks that rely on energy-intensive mining processes, COTI’s infrastructure completely eliminates mining, significantly reducing its carbon footprint. This aligns with global efforts to promote sustainable and green technologies. By eliminating the need for mining, COTI also reduces operational costs, making it a cost-effective solution for businesses.
COTI’s ecosystem is designed with regulatory compliance in mind. It includes KYC and AML controls to ensure that all transactions meet the necessary legal standards. This regulatory readiness is crucial for businesses operating in the Web3 world, where adherence to legal frameworks is essential to prevent fraud and ensure transparency.
Furthermore, COTI offers a comprehensive range of services tailored to the needs of modern businesses. Its payment solutions can be seamlessly integrated into existing business models, allowing companies to leverage COTI’s technology to enhance their payment infrastructure without the need for a complete overhaul.
How to Purchase COTI (COTI) with TRY?
Binance TR is the most suitable cryptocurrency exchange for Turkish investors looking to buy COTI (COTI). On Binance TR, which allows for quick account creation, over 100 cryptocurrencies, including COTI, can be bought and sold. To purchase COTI (COTI) 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 proceed from the “Create Account” step. In the first step, you will need to enter basic information such as your email address, phone number, name, surname, date of birth, nationality, and T.C. identity number.
After entering the required information accurately, verification via email or SMS will be conducted to confirm your details. Once this process is complete, you will move on 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 or during the account creation process. This process is essential to protect both the user and the cryptocurrency exchange. Identity verification can be done through your mobile phone or Binance TR’s official website. Please note that you will need your mobile phone for identity verification 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.” You will then 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 will appear where you can continue the verification process. Start by tapping on the “Identity” option.
Next, you will see a screen where you need to select the appropriate document type for verification.
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 photos is easily readable.
Afterward, 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 completed all these steps accurately and completely, your identity verification process will be completed shortly.
How to Deposit Turkish Lira (TL) on Binance TR?
You can easily deposit Turkish Lira (TL) into your Binance TR account from any bank. You can deposit TL 24/7 and seamlessly trade using Vakıfbank, Ziraat Bankası, İş Bankası, Akbank, Fibabanka, Şekerbank, and Türkiye Finans accounts. For other banks, you can deposit up to 50,000 TL 24/7 with FAST. Deposits over 50,000 TL from other banks 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 following page, select your preferred bank to continue the deposit process. If your preferred bank is not yet integrated with Binance TR, choose 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, you will see an account name and IBAN address to which you can make a transfer, EFT, or FAST. Use the information provided on the page of your preferred bank to transfer the desired amount into your Binance TR account via transfer, EFT, or FAST.
After your bank completes the transfer process, the funds will be automatically reflected in your Binance TR account wallet.
How to Buy COTI Coin with TL on Binance TR?
After depositing funds, you can proceed to purchase COTI coin with Turkish Lira (TL) by clicking on the “Buy-Sell” option in the top left menu on the Binance TR website.
After clicking on this option, a page will open where you can search for COTI. Type “COTI” in the search section on the right side of the page and click on the COTI/TRY option from the results.
Now, you will be on the COTI trading page. Enter the desired price at which you want to buy COTI in the first box marked with a red box, and enter the number of COTI coins you want to buy in the second box. After entering the amount, complete your purchase by clicking the “Buy COTI” button.
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 can be accessed at trbinance.com.
Binance TR offers trading services from fiat to cryptocurrency and from cryptocurrency to cryptocurrency, leveraging Binance’s technology, security measures, and liquidity provided through Binance Cloud infrastructure. Users in Turkey can easily deposit and withdraw Turkish Lira (TRY) through direct bank channels and trade various cryptocurrencies with TRY trading pairs via Binance TR.
Users gain access to market-leading spot trading liquidity, a powerful matching engine, advanced security protocols, custody solutions, and risk controls supported by Binance’s core functions through Binance TR.
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Disclaimer:
The information provided in this article is not 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.