Curve (CRV) is a DeFi protocol used for swapping stablecoins and ERC-20 tokens, operating with an automated market maker (AMM) model. It provides low slippage and rewards liquidity providers by connecting users with liquidity pools and low fees. The protocol, founded by Michael Egorov in 2020, has quickly gained popularity in the DeFi sector. This article answers two key questions: what is Curve (CRV), and how to buy Curve (CRV) with TRY.
What is Curve (CRV)?
Curve is the utility token of the Curve.fi DeFi protocol, used for exchanging stablecoins and other ERC-20 tokens. Curve’s main goal is to connect users who want to swap ERC-20 tokens and stablecoins with the protocols that perform these swaps. Curve’s financial platform is non-custodial, meaning users retain control of their tokens.
The Curve system offers low slippage and low fees by finding the best paths for users’ swap requests. To achieve this, Curve uses liquidity pools backed by liquidity tokens. These pools incentivize liquidity providers to deposit their tokens, maintaining satisfactory price levels and earning rewards. Liquidity providers are rewarded for depositing their tokens into the pools.
CRV coin is the utility token of the protocol, used to incentivize liquidity providers, and CRV coin holders can participate in network governance. Curve strengthens the Curve.fi financial platform and functions as an automated market maker. AMMs offer a different trading model where assets can be swapped automatically without permission.
Liquidity providers are encouraged to create pools and deposit their tokens. Each pool contains specific token pairs supported by that liquidity pool. Pools minimize temporary loss by containing similar assets and offer higher return chances. Curve.fi connects users with various exchanges to provide low slippage and high returns. Liquidity providers earn a share of trading fees with each swap transaction.
Curve was founded and launched by Michael Egorov in 2020. Egorov has experience in blockchain and cryptocurrency companies and has served as the CTO of NuCypher. Curve has become an attractive exchange in the DeFi sector due to its technology and technical capacity. It creates liquidity pools based on smart contracts and connects users with the best swap paths. Thus, Curve has become synonymous with decentralized finance by offering the best rates for coin and stablecoin swaps.
How to Buy Curve (CRV) with TRY?
Binance TR is the most suitable cryptocurrency exchange for investors in Turkey who want to buy Curve (CRV). Over 100 cryptocurrencies, including CRV, can be bought and sold quickly on Binance TR. Follow these steps to buy Curve (CRV) with TRY on Binance TR.
How to Open an Account on Binance TR?
Opening an account on Binance TR is quite easy. Visit trbinance.com and proceed 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 accurately, email/SMS verification will be conducted to confirm the information. After completing this process, you will proceed to the second step, identity verification (KYC).
How to Verify Your 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 choose to complete the verification process from your phone or through Binance TR’s official website. Note that you will need your mobile phone to verify your identity on the website as well.
On the Binance TR website, hover over the “Profile” option at the top right, click “Identity Verification and Limits” from the drop-down menu, and then click “Verify.” Next, 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, click “Copy URL” to send the identity verification address 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. First, tap the “Identity” option to continue.
Next, a screen like the one below will appear. To continue with the verification process, first select the document type that suits you.
After selecting the document type, tap “Upload front side” to continue. After taking a photo of the front side of the document according to the selected document type, tap “Upload back side” and take a photo of the back side of the document. Ensure that 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 the “Selfie” option to continue. At this point, your phone’s front camera will open, and you will need to scan your face. Ensure that your face fills the camera area as much as possible once the camera opens.
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 and trade TL 24/7 from your Vakıfbank, Ziraat Bankası, İş Bankası, Akbank, Fibabanka, Şekerbank, and Türkiye Finans accounts. Deposits over 50,000 TL from other banks are processed within EFT hours, while deposits up to 50,000 TL can be made 24/7 via FAST.
To deposit money into your Binance TR account, first go to trbinance.com and hover over the “Wallet” option in the top left corner of the homepage, then click “Deposit” from the drop-down menu.
Next, a page like the one below will open, and you can continue the deposit process by selecting your preferred bank. If your preferred bank is not yet integrated with Binance TR, you should continue by clicking 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 the Vakıfbank option, you will see an account name and IBAN address where you can make a transfer, EFT, or FAST to that bank. 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 transfer, EFT, or FAST.
After your bank completes the transfer, the funds you sent will automatically be reflected in your Binance TR account wallet.
How to Buy CRV Coin with TL on Binance TR?
After the deposit process, you can proceed to the TL to CRV coin purchase step by clicking the “Buy-Sell” option in the top left menu on the Binance TR website.
After clicking this option, the page below will open. On this page, type “CRV” in the search box on the right side and click the CRV/TRY option from the results to go to the TL to CRV purchase page.
Now the CRV trading page below will open. In the red-marked area on this page, you need to enter the price at which you want to buy CRV in the first box and the number of CRV you want to buy in the second box. After entering the amount, you can complete your purchase by clicking the “Buy CRV” button.
What is Binance TR?
As the world’s largest cryptocurrency exchange by trading volume, Binance 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 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) via direct bank channels and trade various cryptocurrencies with TRY pairs through Binance TR.
Users can access 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.
