Immutable X (IMX), Ethereum Blockchain’s NFT scalability and user experience enhancement solution. This article answers two questions: What is Immutable X (IMX) and how to buy Immutable X (IMX) with TRY.
What is Immutable X (IMX)?
Founded in 2018 by James Ferguson, Robbie Ferguson, and Alex Connolly, Immutable X aims to solve the scalability issues faced by Ethereum-based NFTs. It offers instant transaction confirmation and near-zero transaction fees for minting and trading NFTs, providing a seamless and cost-effective experience. By leveraging innovative scaling technology, Immutable X aims to unlock the full potential of NFTs while maintaining the security and decentralization of the Ethereum network.
At the core of Immutable X is a Layer 2 protocol known as Zero-Knowledge Rollup (ZK-Rollup), which aggregates hundreds of transactions into a single zero-knowledge proof called zk-STARK. This proof is then sent to the Ethereum Blockchain and verified by a smart contract, significantly reducing the computational and storage resources required for transaction validation. As a result, Immutable X can achieve speeds of up to 9,000 transactions per second (TPS) with zero transaction fees for end-users, making it a highly efficient solution for NFT trading and minting.
Immutable X ensures that NFT transactions are not only fast and cost-effective but also environmentally friendly. By using ZK-Rollup, the platform achieves 100% carbon neutrality, significantly reducing energy consumption compared to traditional Ethereum transactions. Additionally, Immutable X offers robust REST APIs and simple software development kits (SDKs) that allow developers to easily integrate NFT functionality into their applications. This enables rapid development of NFT projects, such as play-to-earn games, with minimal time and effort.
IMX coin is the main network asset of Immutable X and serves as both a utility and governance token within the platform. With a total supply of 2 billion, IMX is used to pay transaction fees, incentivize users and developers, and participate in platform governance. Participants can earn IMX coins through various activities such as trading NFTs, contributing to platform growth, and staking in reward pools. Additionally, IMX holders have voting power in the governance of Immutable X and can submit community proposals and participate in votes.
How to Buy Immutable X (IMX) with TRY?
Binance TR is the most suitable cryptocurrency exchange for investors in Turkey who want to buy Immutable X (IMX). On Binance TR, where you can quickly create an account, you can buy and sell over 100 cryptocurrencies, including IMX. Follow these steps to buy Immutable X (IMX) with TRY on Binance TR.
How to Open an Account on Binance TR?
Opening an account on Binance TR is quite easy. You need to 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 carried out 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 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 the official Binance TR website. Note that you will need your mobile 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 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 is suitable for you.
After selecting the document type, tap on the “Upload Front Side” option to continue. 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 the information in the photo can be easily read when taking photos of the front and back sides of your ID card or driver’s license.
Then tap on the “Selfie” option to continue. 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 after 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 TL 24/7 from your Vakıfbank, Ziraat Bankası, İş Bankası, Akbank, Fibabanka, Şekerbank, Türkiye Finans accounts and make transactions without interruption. From 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 main page, 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 the bank of your choice from this page. If the bank you prefer does not yet have Binance TR integration, 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. All you need to do now is to transfer the amount you want to deposit into your Binance TR account using the information displayed on the bank’s page.
After your bank completes the transfer process, the funds you sent will be automatically reflected in your wallet on your Binance TR account.
How to Buy IMX Coin with TL on Binance TR?
After the deposit process, you can proceed to the step of buying IMX coin with TL by clicking on the “Buy-Sell” option in the top left menu on the Binance TR website.
After clicking this option, the following page will open. On this page, type “IMX” in the search section on the right side and click on the IMX/TRY option from the results to go to the page for buying IMX with TL.
Now the IMX buying page will open as shown below. On this page, in the area marked with a red box, you need to enter the price at which you want to buy IMX in the first box and the number of IMX you want to buy in the second box. After entering the amount, you can complete your purchase by clicking the “Buy IMX” 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 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 trading pairs via Binance TR.
Users of Binance TR, supported by Binance’s core functions, have access to market-leading spot trading liquidity, a powerful matching engine, advanced security protocols, custody solutions, and risk controls.
