COTI (COTI) is a cutting-edge platform that offers solutions for the digital payment environment and the corporate token ecosystem. Thanks to its Directed Acyclic Graph (DAG) protocol and unique Proof of Trust consensus algorithm, it performs high-volume transactions quickly, securely, and in an eco-friendly manner. Designed in compliance with regulations, COTI provides businesses with cost-effective, sustainable, and legally compliant payment solutions with KYC and AML controls. In this article, you can find answers to two frequently asked questions: What is COTI (COTI), and how to buy COTI (COTI) with TRY?
What is COTI (COTI)?
COTI is a cutting-edge platform that stands out for its revolutionary impact on the digital payment environment and the corporate token ecosystem. Its primary goal is to offer scalable, secure, and instant payment solutions. To achieve this, COTI leverages a unique Proof of Trust consensus algorithm combined with a DAG protocol, setting it apart from traditional Blockchain technologies.
The DAG-based protocol allows COTI to overcome the limitations faced by traditional Blockchain systems, enabling high-volume transactions per second (TPS). This makes it an ideal choice for businesses that require real-time transaction capabilities, ensuring payments are processed quickly and efficiently. The Proof of Trust consensus further enhances security and scalability by integrating trust scores that help verify transactions more efficiently and eco-friendly.
One of COTI’s standout features is its commitment to being eco-friendly. Unlike traditional Blockchain networks that rely on energy-intensive mining processes, COTI’s infrastructure completely avoids mining. This significantly reduces its carbon footprint, aligning with global efforts to promote sustainable and green technologies. By eliminating the need for mining, COTI also reduces operational costs, making it a cost-effective solution for businesses.
COTI’s ecosystem is designed with regulatory compliance in mind. It includes Know Your Customer (KYC) and Anti-Money Laundering (AML) controls to ensure all transactions meet the necessary legal standards. This regulatory readiness is crucial for businesses operating in the Web3 world, where adhering to legal frameworks is essential to prevent fraud and ensure transparency.
Furthermore, COTI offers a range of services specifically designed to meet the needs of modern businesses. Its comprehensive package includes payment solutions that can be seamlessly integrated into existing business models. This allows companies to leverage COTI’s technology to enhance their payment infrastructure without overhauling their existing systems.
How to Buy COTI (COTI) with TRY?
Binance TR is the most suitable cryptocurrency exchange for investors in Turkey who want to buy COTI (COTI). On Binance TR, where an account can be quickly created, over 100 cryptocurrencies, including COTI, can be bought and sold. To buy COTI (COTI) 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 your 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 done 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 carried out 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 through Binance TR’s official 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 appear. To continue with the verification process, first select the document type that suits you.
After selecting the document type, continue by tapping on the “Upload front side” option. After taking a photo of the front side of the document according to the document type you selected, tap on the “Upload back side” option and take a photo of the back side of the document and upload it. Make sure that the images are clear and that the information in the photos you take is easily readable when taking photos of the front and back sides of your ID card or driver’s license.
Then 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 that 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 trade seamlessly from your Vakıfbank, Ziraat Bankası, İş Bankası, Akbank, Fibabanka, Şekerbank, Türkiye Finans accounts. For other banks, you can deposit up to 50,000 TL 24/7 with 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 trbinance.com, 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 shown 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 be automatically reflected in your Binance TR account wallet.
How to Buy COTI Coin with TL on Binance TR?
After depositing money, you can proceed to the step of purchasing COTI coin with TL by clicking on the “Buy-Sell” option in the top left menu on the Binance TR website.
After clicking on this option, the following page will open. You can go to the TL to COTI purchase page by typing “COTI” in the search section on the right side of this page and clicking on the COTI/TRY option from the results.
Now the following COTI trading page will open. In this page, you need to enter the price at which you want to buy COTI in the first box marked with a red box and the number of COTI you want to buy in the second box. After entering the amount, you can complete your purchase by clicking the “Buy COTI” 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 trading services from fiat to cryptocurrency and from cryptocurrency to cryptocurrency by leveraging Binance’s technology, security measures, and liquidity provided through Binance Cloud infrastructure. Users in Turkey can seamlessly deposit and withdraw Turkish lira (TRY) through direct 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 supported by Binance’s core functions through Binance TR.
