Beam (BEAMX) uses the Mimblewimble, Dandelion, and Lelantus-MW protocols to ensure transaction and user identity privacy. All transactions are private by default, and users can share transactions with third parties using the audit feature. BeamX DAO aims to create a community-focused DeFi ecosystem where users can stake BEAM coins to earn BEAMX. This article answers two questions: What is Beam (BEAMX), and how to buy Beam (BEAMX) with TRY.
What is Beam (BEAMX)?
Beam is a decentralized DeFi protocol that leverages three advanced protocols (Mimblewimble, Dandelion, and Lelantus-MW) to enhance transaction anonymity and user privacy. Beam ensures that all transaction details and user identities remain confidential. The Mimblewimble protocol helps conceal transaction metadata and values, reducing Blockchain bloat and increasing scalability. Dandelion improves transaction routing by sending transactions through a random path before propagation, while Lelantus-MW adds another layer of privacy and anonymity.
Beam prioritizes user control over financial transactions by making all transactions private by default. Unlike other privacy cryptocurrencies where privacy is optional, Beam’s privacy feature is automatic. Users can disclose transaction details to third parties using the Beam Opt-on Auditability feature, but this feature is not yet available in the user interface. Beam uses the Cut-Through method to keep the Blockchain lean, preventing Blockchain bloat and reducing computational demands by only tracking unspent transaction outputs necessary for current transactions.
Beam’s development roadmap includes BeamX DAO, which aims to create a decentralized, community-supported DeFi ecosystem. Beam’s privacy-focused DeFi platform BeamX will support various applications such as lending, stablecoins, and decentralized exchanges. The Beam team is working on security audits, user interface improvements, and wallet developments to ensure a robust launch.
BEAMX coin was launched on January 3, 2019, designed to be community-focused without an ICO or pre-sale. The Singapore-based Beam Foundation oversees the network’s development by employing full-time developers and contributors, primarily funded by venture capitalists. Despite its emphasis on privacy, Beam offers an audit feature for regulatory compliance, allowing businesses to provide financial traces when necessary.
How to Buy Beam (BEAMX) with TRY?
Binance TR is the most suitable cryptocurrency exchange for investors in Turkey who want to buy Beam (BEAMX). Binance TR allows quick account creation and trading of over 100 cryptocurrencies, including BEAMX. Follow these steps to buy Beam (BEAMX) with TRY on Binance TR.
How to Open an Account on Binance TR?
Opening an account on Binance TR is quite easy. Go to 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 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 perform the verification process from your phone or the official Binance TR website. Note that you will need your phone to verify your identity 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 “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, click on “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. Continue by first tapping on “Identity.”
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, continue by tapping on “Upload Front Side.” After taking a photo of the front side of the document, tap on “Upload Back Side” and take a photo of the back side of the document. Ensure that the images are clear and that the information in the photo 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. Ensure that your face fills the camera area as much as possible after the camera opens.
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 and trade 24/7 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 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 “Deposit” 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. If your preferred bank is not yet integrated with Binance TR, continue by clicking on the “Other Banks” option.
In this example, we will continue using Vakıfbank, but the process is the same for all 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. All you need to do is use the information displayed 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 process, the funds you sent will be automatically reflected in your Binance TR account wallet.
How to Buy BEAMX Coin with TL on Binance TR?
After the deposit process, you can proceed to the step of purchasing BEAMX 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 page below will open. You can go to the TL to BEAMX purchase page by typing “BEAMX” in the search section on the right side of this page and clicking on the BEAMX/TRY option from the results.
Now the BEAMX trading page will open as shown below. In this page, you need to enter the price at which you want to buy BEAMX in the first box and the number of BEAMX you want to buy in the second box in the red-marked area. After entering the amount, you can complete your purchase by clicking the “Buy BEAMX” 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 fiat-to-crypto and crypto-to-crypto trading services 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) 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 supported by Binance’s core functions through Binance TR.
