Waves Platform Facilitates Effortless Generation and Administration of Personalized Cryptocurrencies

Waves is a Blockchain platform that enables users to easily develop and handle custom cryptocurrencies through the use of scripts. The platform boasts a decentralized exchange and smart contract functionality, allowing users and institutions to create a variety of applications. Waves guarantees network security and efficiency with its Leased Proof of Stake (LPoS) consensus mechanism. In this article, we aim to address two commonly asked questions: What is Waves (WAVES) and how can one purchase Waves (WAVES) with TRY.
Contents
What is Waves (WAVES)?
How to Buy Waves (WAVES) with TRY?
How to Open an Account on Binance TR?
How to Verify an Account on Binance TR?
How to Deposit TL on Binance TR?
How to Buy WAVES Coin with TL on Binance TR?
What is Binance TR?
What is Waves (WAVES)?
Waves is a Blockchain platform that allows users to easily create and launch custom cryptocurrencies. Unlike many other Blockchain platforms that require extensive smart contract programming, Waves simplifies the process by allowing cryptocurrencies to be created and managed through scripts running on user accounts on the Blockchain. This makes the development of new cryptocurrencies and applications similar to launching a traditional web application. Visit NEWSLINKER for the latest technology news.
Waves facilitates the creation and trading of cryptocurrencies on its Blockchain. New cryptocurrencies are created with scripts added to transactions at the time of their creation. These scripts manage the cryptocurrency without the need for complex coding. Each new asset is given a unique identifier and can be traded within the Waves ecosystem, which includes a built-in decentralized exchange known as Waves.Exchange. This platform facilitates the trading of cryptocurrencies created on the Waves Blockchain with other Waves-based cryptocurrencies.
In 2018, Waves introduced smart contract functionality to its MainNet, allowing third parties to create decentralized applications (dApps) on the platform. This was a significant development that enabled the creation of more complex and functional applications on the Waves Blockchain. Additionally, in 2019, Waves launched Waves Enterprise, a version of the network specifically designed for corporate use, demonstrating the platform’s versatility and scalability.
The Waves Blockchain supports two types of nodes: Full nodes and lightweight nodes. Full nodes maintain a complete history of transactions on the Blockchain, while lightweight nodes rely on full nodes for transaction confirmation and network interactions. This structure ensures the network remains efficient and synchronized. Waves uses a variation of the proof-of-stake (PoS) consensus mechanism called leased proof-of-stake (LPoS) to maintain its distributed network.
In the LPoS model, nodes can lease their balances to full nodes. When a full node is selected to produce the next block, the nodes leasing their cryptocurrencies to this node receive a portion of the compensation. This system encourages participation in the network and enhances its security and functionality. The selection of nodes for block production is determined by the Waves-NG protocol, an adaptation of an idea originally proposed for Bitcoin.
At the core of the Waves Blockchain is the concept of Smart Assets-tokens with attached scripts written in Waves’ native programming language, Ride. These scripts, which cost 0.004 WAVES to execute, provide specific functions to cryptocurrencies. This feature simplifies the process of creating and transferring cryptocurrencies, allowing users to issue cryptocurrencies without any programming expertise. Additionally, different transaction types can be introduced through extensions loaded onto the Blockchain, further increasing the platform’s flexibility.
How to Buy Waves (WAVES) with TRY?
Binance TR is the most suitable cryptocurrency exchange for investors in Turkey who want to buy Waves (WAVES). Binance TR, where more than 100 cryptocurrencies including WAVES can be traded, allows quick account creation. To buy Waves (WAVES) with TRY on Binance TR, follow these steps.
How to Open an Account on Binance TR?
Opening an account on Binance TR is quite easy. To do this, go to trbinance.com and continue from the “Create Account” step. In the first step of account creation, you will be asked to enter basic information such as email address, phone number, name-surname, date of birth, nationality, and T.C. identity number.


After entering the requested information completely and correctly, an email/sms verification will be done to confirm the information. After completing this process, you will proceed to the second step, identity verification (KYC).
How to Verify an Account on Binance TR?
Identity verification on Binance TR is one of the security procedures that must be completed before starting cryptocurrency trading and during account creation. This process is also necessary to protect both the user and the cryptocurrency exchange. You can complete the verification process from your phone or the official Binance TR website. Note that you will need your mobile phone to perform identity verification from 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 need to scan the QR code that appears with your phone’s camera and continue the process on your phone. If you cannot scan the QR code, you can click on the “Copy URL” option to have the identity verification address sent to your phone via SMS.


When you enter the address on your phone or scan the QR code, a screen like the one below will open on your phone. From here, first tap on the “Identity” option to continue.


Then a screen like the one below will appear. To continue the verification process, first select the document type that suits you.


After selecting the document type, tap on the “Upload Front” option to continue. After taking a photo of the front of the document according to the document type you selected, tap on the “Upload Back” option and take a photo of the back of the document and upload it. Make sure the images are clear and the information in the photos is easily readable when taking photos of the front and back of your ID card or driver’s license.
Then tap on the “Selfie” option to continue. At this point, your phone’s front camera will open, and you will need to scan your face. Once the camera opens, make sure your face fills the camera area as much as possible.
After completing all these steps correctly and completely, 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 all banks. You can deposit TL 24/7 and make uninterrupted transactions from your Vakıfbank, Ziraat Bankası, İş Bankası, Akbank, Fibabanka, Şekerbank, and Türkiye Finans accounts. Deposits up to 50,000 TL can be made 24/7 with 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, first go to trbinance.com, hover over the “Wallet” option at the top left of the main page, and click on the “Deposit” option from the drop-down menu.


Then a page like the one below will open, and you can continue the deposit process by selecting your preferred bank from this page. If your preferred bank is not yet integrated with Binance TR, you should continue by clicking on 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 where you can make transfers via wire transfer, EFT, or FAST. Now, all you need to do is use the information shown on the bank’s page to transfer the amount you want to deposit into your Binance TR account via wire transfer, EFT, or FAST.


Once your bank completes the transfer process, the funds you sent will automatically be reflected in your Binance TR account wallet.
How to Buy WAVES Coin with TL on Binance TR?
After the deposit process, you can proceed to the step of buying WAVES coin with TL by clicking on the “Buy-Sell” option in the top left menu of the Binance TR website.


After clicking on this option, the following page will open. On this page, type “WAVES” in the search section on the right side and click on the WAVES/TRY option from the results to go to the page for buying WAVES with TL.
Now the following WAVES trading page will open. In the area marked with a red box on this page, you need to enter the price at which you want to buy WAVES in the first box and the number of WAVES you want to buy in the second box. After entering the amount, you can complete your purchase by clicking the “Buy WAVES” button.
What is Binance TR?
Binance, the world’s largest cryptocurrency exchange by trading volume, officially launched its platform Binance TR for cryptocurrency investors in Turkey in 2020. The cryptocurrency exchange, headquartered in Istanbul, can be accessed at trbinance.com.
Binance TR offers both fiat-to-crypto and crypto-to-crypto trading services by leveraging Binance’s technology, security measures, and liquidity provided through the Binance Cloud infrastructure. Users in Turkey can seamlessly deposit and withdraw Turkish lira (TRY) through bank channels and trade various cryptocurrencies with TRY pairs via Binance TR.
Users are supported by Binance’s core functionalities, gaining access to 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 contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.