Arweave (AR) is a decentralized network offering permanent data storage and hosting services, supported by a block-based data structure known as “blockweave.” Founded in 2017 as Archain and rebranded to Arweave in 2018, the project aims to achieve low-cost permanent storage. Arweave launched its mainnet in 2018 and raised significant funds from various venture capital firms in 2019 to promote community adoption and growth. In this article, you can find answers to two frequently asked questions: What is Arweave (AR) and how to buy Arweave (AR) with TRY.
What is Arweave (AR)?
Arweave is a decentralized network providing permanent data storage and hosting services. It operates on an open ledger system similar to Bitcoin, ensuring transparency and security. The protocol’s established, mature, and widely adopted nature makes the ecosystem fully decentralized. Arweave is particularly valuable for preserving important data and hosting web applications, offering numerous opportunities for users to learn, use, and build on its platform.
The project was founded in 2017 under the name Archain. During its participation in the Techstars Berlin mentorship program in 2018, it was rebranded as Arweave. Arweave’s mission is to make permanent, low-cost storage a reality, aiming to achieve this with its unique network and block-based data structure known as “blockweave.”
Blockweave technology supports the Arweave permaweb, a collection of data, websites, and applications hosted on the blockweave. Since the Arweave protocol is built on the HTTP protocol, the permaweb can be easily accessed via modern web browsers like Brave or Chrome. The network facilitates decentralized data storage by allowing individuals with spare hard disk space to store data in exchange for AR coin.
Arweave’s storage system aims to store data permanently by using a formula to calculate the cost of storing specific data pieces. The storage cost is expected to decrease over time, with detailed assumptions available in Arweave’s yellow paper. This innovative approach ensures that data remains accessible and secure indefinitely.
Arweave’s mainnet was launched in June 2018 with a select group of 1800 participants from various countries. Before the launch, the Arweave team conducted an initial coin sale limited to whitelisted individuals. This selective approach helped build a strong foundation for the network.
In November 2019, Arweave raised $5 million from venture capital firms in exchange for AR coins. Six months later, the team raised an additional $8.3 million in exchange for AR coins. The company announced that the new funds would be used to promote community adoption and growth, emphasizing its commitment to expanding its user base and fostering a robust ecosystem.
How to Buy Arweave (AR) with TRY?
Binance TR is the most suitable cryptocurrency exchange for investors in Turkey looking to buy Arweave (AR). On Binance TR, where accounts can be quickly created, over 100 cryptocurrencies, including AR, can be traded. To buy Arweave (AR) 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 the trbinance.com address 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 your email address, phone number, name-surname, date of birth, nationality, and T.C. identity number.
After entering the requested information completely and correctly, email/SMS verification will be performed 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 perform 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 dropdown 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 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. 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 best.
After selecting the document type, you can continue by tapping on the “Upload Front” option. After taking a photo of the front side of the document according to the selected document type, tap on the “Upload Back” option and take a photo of the back side of the document and upload it. When taking photos of the front and back sides 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 is open, 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 from 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. For 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, 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 dropdown menu.
Then a page like the one below will open, and you can continue the deposit process by selecting the bank of your choice. If the bank you prefer 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 via wire transfer, EFT, or FAST to that bank. All you need to do now is to use the information shown on the page of the bank you prefer to transfer the amount you want to deposit into your Binance TR account via wire 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 AR Coin with TL on Binance TR?
After the deposit process, you can proceed to the TL to AR coin purchase step by clicking on the “Buy-Sell” option in the top left menu on the Binance TR website.
After clicking on this option, the page below will open. By typing “AR” in the search section on the right side of this page and clicking on the AR/TRY option from the results, you can go to the TL to AR purchase page.
Now the AR trading page below will open. On this page, in the red-marked area, you need to enter the price at which you want to buy AR in the first box and the number of AR you want to buy in the second box. After entering the amount, you can complete your purchase by clicking the “Buy AR” 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 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 trading pairs through Binance TR.
Users can access market-leading spot trading liquidity, a robust matching engine, advanced security protocols, custody solutions, and risk controls supported by Binance’s core functions through Binance TR.
