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Near Protocol (NEAR) is a groundbreaking protocol aimed at incentivizing a network of computers to operate a platform for developers to create and launch decentralized applications (dApps). At the core of Near Protocol’s design is the concept of sharding, which segments the network’s infrastructure to increase efficiency and scalability. In this article, you will find answers to two frequently asked questions: What is Near Protocol (NEAR), and how to buy Near Protocol (NEAR) with TRY.
What is Near Protocol (NEAR)?
Near Protocol is a Blockchain-based protocol designed to facilitate the creation and deployment of dApps. Unlike traditional centralized data storage systems like Amazon Web Services (AWS), Near Protocol operates on a distributed computer network, offering more decentralization and flexibility. The main network asset of Near Protocol, NEAR coin, powers the ecosystem and incentivizes participation in the network.
Near Protocol uses a Proof of Stake (PoS) consensus mechanism and employs sharding known as ‘Nightshade’ to enhance scalability. Sharding divides the Blockchain into segments, with each node responsible for processing a small subset of data. This approach provides higher transaction throughput and lower fees while maintaining security.
Nightshade allows Near Protocol to maintain a single data chain while distributing the computational workload among network nodes. Nightshade contributes to the platform’s power and scalability by reducing potential bottlenecks and increasing efficiency.
Near Protocol features the Rainbow Bridge application, which facilitates seamless token transfers between Ethereum and NEAR. Users can deposit their ETH into a smart contract that locks the funds and generates equivalent tokens on the Near Protocol platform. This bridge enables interoperability and increases accessibility for users and developers.
Aurora is a Layer 2 scaling solution designed to host Ethereum dApps on the Near Protocol network. Leveraging the Ethereum Virtual Machine (EVM) coding technology, Aurora allows developers to deploy Ethereum smart contracts on NEAR while benefiting from low fees and high throughput.
Aurora offers developers the opportunity to leverage Ethereum’s existing ecosystem and application network while accessing Near Protocol’s advantages like low fees and high throughput. The cross-chain bridge ensures seamless integration and interoperability between Ethereum and Near Protocol.
How to Buy Near Protocol (NEAR) with TRY?
Binance TR is the most suitable cryptocurrency exchange for investors in Turkey looking to purchase Near Protocol (NEAR). Binance TR allows you to buy and sell over 100 cryptocurrencies, including NEAR, with a quickly created account. Follow the steps below to buy Near Protocol (NEAR) 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 correctly, an 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 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 Binance TR’s official 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 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.
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 the “Upload Front Side” option. After taking a photo of the front side of the document according to the selected document type, tap on the “Upload Back Side” option and take a photo of the back side of the document and upload it. Make sure the images are clear and 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. Make sure your face fills the camera area as much as possible once the camera opens.
After completing all these steps correctly, 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 through all banks. You can deposit TL 24/7 from your Vakıfbank, Ziraat Bankası, İş Bankası, Akbank, Fibabanka, Şekerbank, and Türkiye Finans accounts and perform transactions without interruption. From other banks, you can deposit up to 50,000 TL 24/7 via 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 in the top left corner 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. 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, an account name and IBAN address will appear for you to 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, the funds you sent will automatically be reflected in your Binance TR account wallet.
How to Buy NEAR Coin with TL on Binance TR?
After the deposit process, you can proceed to the TL to NEAR coin purchase step 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. On the right side of this page, type “NEAR” in the search box and click on the NEAR/TRY option from the results to go to the TL to NEAR purchase page.
Now the following NEAR purchase page will open. In the area marked with a red box on this page, you need to enter the price at which you want to buy NEAR in the first box and the number of NEAR you want to buy in the second box. After entering the amount, you can complete your purchase by clicking the “Buy NEAR” button.
What is Binance TR?
Binance, the world’s largest cryptocurrency exchange by trading volume, officially launched its platform Binance TR, specifically 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) through direct banking channels and trade various cryptocurrencies with TRY trading pairs via Binance TR.
With Binance TR, users gain access to market-leading spot trading liquidity, a powerful matching engine, advanced security protocols, custody solutions, and risk controls, all supported by Binance’s core functionalities.
