Jito (JTO) is an innovative liquid staking protocol on Solana that offers Maximum Extractable Value (MEV) rewards to its holders. Jito, short for “Joint Token,” provides users with a unique opportunity to stake their SOL tokens through staking pools and receive JitoSOL tokens in return. These tokens not only offer liquidity but also combine staking rewards with MEV rewards, maximizing returns for holders while contributing to the decentralization of the Solana network. In this article, you can find answers to two frequently asked questions: What is Jito (JTO) and how to buy Jito (JTO) with TRY.
What is Jito (JTO)?
Jito‘s staking approach differs from traditional methods by using staking pools as a tool to decentralize the network and enhance its overall performance. These staking pools, consisting of one or more validator nodes, allow users to efficiently delegate their SOL tokens. In return for staking their SOL, users receive JitoSOL tokens, which serve as a gateway to staking and MEV rewards.
JitoSOL tokens are the backbone of the Jito protocol, offering holders the opportunity to grow their assets through staking and MEV rewards. MEV, a significant concept in the blockchain space, represents profit opportunities derived from executing specific transaction orders. By integrating with decentralized finance (DeFi) platforms, JitoSOL tokens optimize capital efficiency, enabling users to earn income from validators and gain interest through lending protocols or yield farming.
To ensure the protocol’s security, JitoSOL operates on a non-custodial basis, meaning users retain full control over their staked SOL and accrued rewards. Even in the event of Jito’s disappearance, holders maintain control over their assets. Jito mitigates potential risks related to validator selection and fees through a multi-signature transaction requiring the majority approval of the founding team for any changes.
Solana significantly benefits from staking pools as they contribute to the network’s decentralization. These pools distribute stakes among numerous validator nodes, each with its own requirements and delegation tactics. By supporting high-quality network operators, Jito balances high returns for JitoSOL token holders with Solana’s decentralization goals.
Overall, Jito offers a new approach to staking on the Solana network, providing users with the opportunity to stake and earn MEV rewards through a liquid staking protocol. Focusing on security, decentralization, and maximizing returns for holders, Jito aims to enhance the performance and resilience of the Solana ecosystem.
How to Buy Jito (JTO) with TRY?
Binance TR is the most suitable cryptocurrency exchange for investors in Turkey looking to buy Jito (JTO). On Binance TR, where accounts can be quickly created, over 100 cryptocurrencies, including JTO, can be bought and sold. To buy Jito (JTO) with TRY on Binance TR, follow these steps.
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 creating an account, 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. Upon 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 choose to complete the verification process either 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 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 side” option. After taking a photo of the front side of the document 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 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 opens, 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 uninterrupted transactions from your Vakıfbank, Ziraat Bankası, İş Bankası, Akbank, Fibabanka, Şekerbank, Türkiye Finans accounts. For other banks, deposits up to 50,000 TL can be made 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. All you need to do now is use the information displayed 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 automatically be reflected in your Binance TR account wallet.
How to Buy JTO Coin with TL on Binance TR?
After depositing money, you can proceed to the step of buying JTO coin with TL by clicking on the “Buy-Sell” option in the top left menu of the Binance TR website.
After clicking on this option, the following page will open. By typing “JTO” in the search section on the right side of this page and clicking on the JTO/TRY option from the results, you can go to the JTO purchase page with TL.
Now the following JTO trading page will open. In this page, in the red marked area, you need to enter the price at which you want to buy JTO in the first box and the number of JTO you want to buy in the second box. After entering the amount, you can complete your purchase by clicking the “Buy JTO” 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 trading pairs via Binance TR.
Users gain access to market-leading spot trading liquidity, a robust matching engine, advanced security protocols, custody solutions, and risk controls, all supported by Binance’s core functionalities through Binance TR.
