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Polygon (MATIC) is a groundbreaking scaling solution aimed at increasing transaction speeds, reducing transaction costs, and simplifying transactions on the Ethereum Blockchain network. In this article, you can find answers to two frequently asked questions: What is Polygon (MATIC) and how to buy Polygon (MATIC) with TRY.
What is Polygon (MATIC)?
Polygon, as the name suggests, is a multi-layer platform designed to solve the scalability issues faced by Ethereum, the leading Blockchain platform for decentralized applications (dApps). Due to increasing network activity on Ethereum, congestion and rising transaction costs have become issues, and Polygon serves as a Layer-2 solution providing additional layers to the Ethereum Blockchain without changing its core features.
At its core, Polygon uses a sidechain network of unique Blockchains interconnected with the main Ethereum Blockchain. These sidechains, created using Polygon’s software development kit (SDK), aim to alleviate congestion on the Ethereum network by processing transactions more efficiently and cost-effectively. Polygon offers various scalability methods for sidechains, including Plasma Chains, zk-Rollups, and Optimistic Rollups.
The Polygon SDK allows developers to create Ethereum-compatible dApps on sidechains and connect them to the main Polygon Blockchain. The main network of Polygon operates as a Proof of Stake (PoS) sidechain where network participants can stake MATIC coins to validate transactions and participate in governance decisions.
MATIC coin is the primary asset of the Polygon network and serves as a unit of payment and settlement among participants in the ecosystem. Developers creating dApps on Polygon often use MATIC coins for transaction fees and other interactions within their applications. Additionally, investors can purchase MATIC coins to support the adoption of Layer 2 solutions for Ethereum scalability or as an investment in the potential growth of the Polygon network.
Polygon offers various advantages for developers, users, and investors. For developers, Polygon provides a scalable and cost-effective platform to create user-friendly dApps on Ethereum. Users benefit from enhanced transaction speeds and lower fees when interacting with dApps built on Polygon.
Many popular dApps are already leveraging the Polygon network for improved scalability and efficiency. Examples include the decentralized exchange Sushi, the prediction market platform Augur, and the data exchange and monetization platform Ocean Protocol.
How to Buy Polygon (MATIC) with TRY?
Binance TR is the most suitable cryptocurrency exchange for investors in Turkey who want to buy Polygon (MATIC). On Binance TR, where an account can be quickly created, more than 100 cryptocurrencies, including MATIC, can be bought and sold. To buy Polygon (MATIC) with TRY on Binance TR, you can follow the steps below.
How to Open an Account on Binance TR?
Opening an account on Binance TR is quite easy. For this, you need to go to trbinance.com and proceed from the “Create Account” step. In the first step of creating an account, you will be asked to enter basic information such as email address, phone number, name-surname, date of birth, nationality, and Turkish ID number.
After entering the requested information completely and accurately, email/SMS verification will be carried out to confirm the information. After completing this process, you will proceed to the second step, which is 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 carried out before starting to trade cryptocurrencies and during account creation. This process is also necessary to protect both the user and the cryptocurrency exchange. You can perform the verification process from your phone or through the official Binance TR website. Note that you will also 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.” After this step, 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, continue by tapping on the “Identity” option first.
Then a screen like the one below will open. To continue the verification process, first select the document type that suits you.
After selecting the document type, you can continue by tapping on the “Upload Front” option. 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. When taking photos of the front and back of your ID card or driver’s license, make sure the images are clear and the information in the photo is easily readable.
Then you can continue by tapping on the “Selfie” option. 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 accurately 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 through all banks. You can deposit TL 24/7 and make transactions seamlessly from your Vakıfbank, Ziraat Bankası, İş Bankası, Akbank, Fibabanka, Şekerbank, and Türkiye Finans accounts. Deposits from other banks can be made 24/7 up to 50,000 TL via FAST. Deposits over 50,000 TL from other banks are processed during EFT hours.
To deposit money into your Binance TR account, first, go to the trbinance.com address, hover over the “Wallet” option at the top left of the homepage, 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 a transfer, EFT, or FAST to that bank. Now all you need to do is use the information displayed on the page of your preferred bank to transfer the amount you want to deposit into your Binance TR account via transfer, EFT, or FAST.
After your bank completes the transfer process, the funds you sent will automatically be reflected in your wallet in your Binance TR account.
How to Buy MATIC Coin on Binance TR with TL?
After the deposit process, you can proceed to the TL to MATIC coin purchase step 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 “MATIC” in the search section on the right side and click on the MATIC/TRY option from the results to go to the TL to MATIC purchase page.
Now the following MATIC trading page will open. On this page, in the area marked with a red box, you need to enter the price at which you want to buy MATIC in the first box and the number of MATIC you want to buy in the second box. After entering the amount, you can complete your purchase by clicking on the “Buy MATIC” 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) directly through 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, all supported by Binance’s core functionalities through Binance TR.
