Near Protocol (NEAR) is an innovative protocol that aims to incentivize a network of computers to operate a platform for developers to create and launch decentralized applications (dApps). The protocol utilizes the concept of sharding, which divides the network’s infrastructure to enhance efficiency and scalability. In this article, we will provide answers to two commonly asked questions: What is Near Protocol (NEAR), and how can you purchase Near Protocol (NEAR) with TRY.
What is Near Protocol (NEAR)?
Near Protocol is a revolutionary blockchain-based protocol that facilitates the development and deployment of dApps. Unlike traditional centralized data storage systems like Amazon Web Services (AWS), Near Protocol operates on a distributed computer network, offering more 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 implements 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 increases transaction throughput and reduces fees while ensuring security.
Nightshade allows Near Protocol to maintain a single data chain while distributing the computational workload among network nodes. This improves the platform’s power and scalability by reducing potential bottlenecks and increasing efficiency.
Near Protocol features the Rainbow Bridge application, which enables 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 promotes interoperability and accessibility for users and developers.
Aurora is a Layer 2 scaling solution designed to host Ethereum dApps on the Near Protocol network. By 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 utilize Ethereum’s existing ecosystem and application network while taking advantage of Near Protocol’s benefits 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 looking 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 simple 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-surname, date of birth, nationality, and T.C. identity number.
After providing all the requested information accurately, an email/SMS verification will be conducted to confirm the information. 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 safety of both the user and the cryptocurrency exchange. You can perform the verification process through your phone or Binance TR’s official website. Note that you will need your mobile phone to verify your identity through 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.
Once you enter the address on your phone or scan the QR code, a screen will open prompting you to select the “Identity” option to continue the verification process.
Next, a screen will appear where you need to choose the document type that suits you.
After selecting the document type, proceed by tapping on the “Upload Front Side” option. Take a clear photo of the front side of the document based on the selected document type, and then tap on the “Upload Back Side” option to take a photo of the back side of the document and upload it. Ensure that the images are clear and the information in the photo is easily readable.
Then, 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 correctly, 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 through various banks. You can deposit TL 24/7 from Vakıfbank, Ziraat Bankası, İş Bankası, Akbank, Fibabanka, Şekerbank, and Türkiye Finans accounts and perform uninterrupted transactions. From other banks, you can deposit up to 50,000 TL 24/7 via 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 in the top left corner of the homepage, and click on the “Deposit” option from the drop-down menu.
A page will open where you can continue the deposit process by selecting your preferred bank. If your bank is not yet integrated with Binance TR, click on the “Other Banks” option.
In this example, we will use 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 provided for you to make a transfer, EFT, or FAST to that bank. Use the information displayed 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 TL on Binance TR?
After completing the deposit process, you can proceed to purchasing NEAR coin with TL by clicking on the “Buy-Sell” option in the top left menu of the Binance TR website.
Upon clicking this option, a page will open. 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.
The NEAR purchase page will now appear. In the area marked with a red box, enter the price at which you want to buy NEAR in the first box and the quantity of NEAR you wish to purchase in the second box. After entering the amount, complete your purchase by clicking the “Buy NEAR” button.
What is Binance TR?
Binance, the world’s largest cryptocurrency exchange by trading volume, launched Binance TR in 2020 specifically for cryptocurrency investors in Turkey. The cryptocurrency exchange, headquartered in Istanbul, can be accessed at trbinance.com.
Binance TR utilizes 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 carry high volatility and risk and should conduct their own research.
