Jito (JTO) is an innovative protocol on the Solana blockchain that introduces a unique concept called liquid staking. It allows users to stake their SOL tokens in staking pools and receive JitoSOL tokens in return. These tokens not only provide liquidity but also combine staking rewards with Maximum Extractable Value (MEV) rewards, maximizing returns for holders while contributing to the decentralization of the Solana network. In this article, we will answer two commonly asked questions: What is Jito (JTO) and how can you purchase Jito (JTO) with TRY (Turkish Lira).
Table of Contents:
1. What is Jito (JTO)?
2. How to Buy Jito (JTO) with TRY?
3. How to Open an Account on Binance TR?
4. How to Verify an Account on Binance TR?
5. How to Deposit TRY on Binance TR?
6. How to Buy JTO Coin with TRY on Binance TR?
7. What is Binance TR?
What is Jito (JTO)?
Jito takes a different approach to staking by utilizing staking pools to decentralize the network and improve its overall performance. These pools consist of one or more validator nodes and allow users to delegate their SOL tokens efficiently. By staking their SOL, users receive JitoSOL tokens, which serve as a gateway to staking and MEV rewards. JitoSOL tokens are the backbone of the Jito protocol, offering holders the opportunity to grow their assets through staking and MEV rewards. MEV, an important concept in the blockchain industry, represents profit opportunities derived from executing specific transaction orders. JitoSOL tokens optimize capital efficiency by integrating with decentralized finance (DeFi) platforms. Users can earn income from validators and gain interest through lending protocols or yield farming.
To ensure the security of the protocol, JitoSOL operates on a non-custodial basis, meaning users have full control over their staked SOL and accrued rewards. Even in the event of Jito’s disappearance, holders retain control over their assets. Jito mitigates potential risks related to validator selection and fees through a multi-signature transaction that requires the majority approval of the founding team for any changes.
Solana greatly benefits from staking pools as they contribute to the network’s decentralization. These pools distribute stakes among multiple validator nodes, each with its own requirements and delegation strategies. By supporting high-quality network operators, Jito strikes a balance between high returns for JitoSOL token holders and Solana’s decentralization goals.
Overall, Jito offers a fresh approach to staking on the Solana network, allowing users to stake their tokens and earn MEV rewards through a liquid staking protocol. With a focus on security, decentralization, and maximizing returns for holders, Jito aims to enhance the performance and resilience of the Solana ecosystem.
How to Buy Jito (JTO) with TRY?
For investors in Turkey looking to buy Jito (JTO), the most suitable cryptocurrency exchange is Binance TR. Binance TR offers a wide range of cryptocurrencies, including JTO, and allows for quick and easy account creation. To buy Jito (JTO) 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 straightforward process. Visit trbinance.com and proceed to the “Create Account” step. In the first 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, you will undergo an email/SMS verification 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 an Account on Binance TR?
Identity verification on Binance TR is a necessary security measure that must be completed before engaging in cryptocurrency trading or during the account creation process. You can choose to complete the verification process either through your phone or Binance TR’s official website. Please 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 corner, click on “Identity Verification and Limits” from the drop-down menu, and then select “Verify.” At this point, 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.
Once you enter the address on your phone or scan the QR code, a screen will open prompting you to tap on the “Identity” option. From there, select the appropriate document type and continue the verification process by uploading photos of the front and back sides of your ID card or driver’s license. You will also need to take a selfie using your phone’s front camera. Ensure that the images are clear and the information on your documents is easily readable.
After completing these steps accurately, your identity verification process will be completed shortly.
How to Deposit TRY on Binance TR?
Depositing TRY into your Binance TR account is a simple process that can be done from any bank. You can deposit TRY 24/7 and make uninterrupted transactions from various Turkish banks, including Vakıfbank, Ziraat Bankası, İş Bankası, Akbank, Fibabanka, Şekerbank, and Türkiye Finans. For other banks, deposits up to 50,000 TRY can be made 24/7 using FAST. Deposits over 50,000 TRY from other banks are processed during EFT hours.
To deposit money into your Binance TR account, go to trbinance.com and hover over the “Wallet” option at the top left of the homepage. 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. Follow the instructions provided on the page to transfer the desired amount from your bank account to your Binance TR account via transfer, EFT, or FAST. Once your bank completes the transfer, the funds will reflect in your Binance TR account wallet.
How to Buy JTO Coin with TRY on Binance TR?
After depositing money into your Binance TR account, you can proceed to buy JTO coin with TRY. Click on the “Buy-Sell” option in the top left menu of the Binance TR website.
On the trading page, type “JTO” in the search section on the right side and select the JTO/TRY option from the results. This will take you to the JTO purchase page with TRY.
On the JTO trading page, enter the desired price at which you want to buy JTO in the first box and the number of JTO coins you want to purchase in the second box. After entering the amount, click the “Buy JTO” button to complete your purchase.
What is Binance TR?
Binance TR is the Turkish version of Binance, the world’s largest cryptocurrency exchange in terms of trading volume. It was officially launched in Turkey in 2020 and is headquartered in Istanbul. 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 seamlessly deposit and withdraw Turkish lira (TRY) directly through bank channels and trade various cryptocurrencies with TRY trading pairs via Binance TR.
Binance TR provides users with market-leading spot trading liquidity, a robust matching engine, advanced security protocols, custody solutions, and risk controls. It offers all the core functionalities of Binance while catering specifically to the Turkish market.
Disclaimer:
The information provided in this article does not constitute investment advice. Investors should be aware that cryptocurrencies are highly volatile and carry inherent risks. It is recommended to conduct thorough research before making any investment decisions.
