EOS (EOS) is a Blockchain platform designed to solve historical issues faced by Blockchain networks when running decentralized applications (dApps), such as performance limitations and transaction fees. With its innovative approach and focus on scalability, EOS aims to provide developers and users with a seamless experience in creating and interacting with dApps. In this article, you can find answers to two frequently asked questions: What is EOS (EOS) and how to buy EOS (EOS) with TRY.
What is EOS (EOS)?
EOS stands out among Blockchain platforms with its focus on dApp performance and user experience. Developers can create dApps using familiar programming languages like C++, Java, and Python, leveraging WebAssembly languages to simplify the development process. Additionally, EOS eliminates transaction fees for users by transferring costs to dApp developers who need to purchase resources using the main network asset, EOS coin.
The EOS Blockchain operates as a virtual computer where resources are divided into bandwidth (disk), computation (CPU), and state storage (RAM). Developers need to acquire EOS coins to purchase these resources to run their dApps. While users enjoy free transactions on EOS, developers bear the costs associated with network resources.
EOS uses a consensus mechanism called Delegated Proof of Stake (DPoS) to secure its Blockchain. Through DPoS, EOS coin holders can participate in real-time voting to select block producers who validate transactions and create new blocks. The more coins a user holds, the greater their influence in block production, highlighting token ownership as a form of governance.
Governance on EOS is characterized by active community participation and decision-making. EOS coin holders have the authority to vote on proposed changes to the platform, including amendments to the EOS Constitution that outlines rules and protocols for users. However, there are concerns about potential central control and abuse by block producers who hold significant power over the network.
The platform offers various advantages, including high-performance dApps, feeless transactions for users, and seamless integration with familiar programming languages. The DPoS consensus mechanism enables efficient block production and network management while promoting decentralization.
How to Buy EOS (EOS) with TRY?
Binance TR is the most suitable cryptocurrency exchange for investors in Turkey looking to buy EOS (EOS). On Binance TR, where accounts can be quickly created, over 100 cryptocurrencies, including EOS, can be bought and sold. To purchase EOS (EOS) with TRY on Binance TR, follow the steps below.
How to Open an Account on Binance TR?
Opening an account on Binance TR is quite easy. For this, 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, an 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 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 even if you choose to verify through 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 “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. From here, continue by tapping on the “Identity” option first.
Then, a screen like the one below will appear. To continue the verification process, first, select the document type that is suitable for you.
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 you selected, tap on the “Upload Back” option and take a photo of the back side of the document. Make sure 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, 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. Make sure that your face fills the camera area as much as possible once 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 TL 24/7 from your Vakıfbank, Ziraat Bankası, İş Bankası, Akbank, Fibabanka, Şekerbank, and Türkiye Finans accounts and make transactions without interruption. Deposits up to 50,000 TL can be made 24/7 with FAST from other banks. Deposits over 50,000 TL from other banks are processed within 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 dropdown 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 bank’s page to transfer the amount you want to deposit into your Binance TR account via transfer, EFT, or FAST.
Once your bank completes the transfer process, the funds you sent will be automatically reflected in your Binance TR account wallet.
How to Buy EOS Coin with TL on Binance TR?
After depositing money, you can proceed to the step of purchasing EOS 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. On this page, type “EOS” in the search box on the right side and click on the EOS/TRY option from the results to go to the EOS purchase page with TL.
Now, the following EOS 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 EOS in the first box and the number of EOS you want to buy in the second box. After entering the amount, you can complete your purchase by clicking the “Buy EOS” 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) directly through bank channels and trade various cryptocurrencies with TRY pairs via Binance TR.
Users supported by Binance’s core functionalities can access market-leading spot trading liquidity, a robust matching engine, advanced security protocols, custody solutions, and risk controls through Binance TR.
