Neo is a Layer-1 Blockchain that supports the development and execution of smart contracts, providing secure and efficient network consensus using the dBFT consensus mechanism. Neo’s NVM supports multiple programming languages, making it easier for developers to create applications in languages they are familiar with. Neo’s native token NeoGas (GAS) is used to pay transaction fees and incentivize validators on the network. This article answers two frequently asked questions: What is NeoGas (GAS), and how to buy NeoGas (GAS) with TRY.
What is NeoGas (GAS)?
Neo is a Layer-1 Blockchain designed to support the development and execution of smart contracts. At its core, Neo uses the Neo Virtual Machine (NVM), a powerful tool that allows developers to create and deploy smart contracts on the network. NVM supports multiple programming languages, meaning developers can use languages they are already familiar with, making it easier to build applications on the Neo Blockchain.
To ensure network consensus and validate transactions, Neo uses the Delegated Byzantine Fault Tolerance (dBFT) consensus mechanism. This method allows the Blockchain to reach an agreement and maintain integrity even if some network nodes are faulty or malicious. The dBFT mechanism involves a small group of selected delegates responsible for validating transactions and producing new blocks. This approach not only enhances security but also increases the overall efficiency of the network.
One of Neo’s most important features is its native token, GAS. GAS is a NEP-17 token used to pay transaction fees on the Neo network. Users need to pay fees in GAS when they perform transactions or interact with smart contracts. This token is separate from Neo’s main cryptocurrency, NEO, and is primarily used for governance and staking within the network.
The GAS token is also essential for the operation of the Neo Blockchain as it incentivizes validators and supports the overall functionality of the network. The distribution of GAS tokens is managed through a process where NEO holders receive GAS over time, encouraging long-term investment in the network.
In addition to its technical features, Neo places great importance on creating a developer-friendly environment. Supporting various programming languages through NVM is a key part of this strategy, aiming to attract a wide range of developers to the platform.
How to Buy NeoGas (GAS) with TRY?
Binance TR is the most suitable cryptocurrency exchange for investors in Turkey who want to buy NeoGas (GAS). On Binance TR, where accounts can be created quickly, more than 100 cryptocurrencies, including GAS, can be bought and sold. To buy NeoGas (GAS) 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. You need to go to trbinance.com and continue 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, 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 mobile phone to verify your identity from the website.
On the Binance TR website, hover over the “Profile” option in 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, 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 open. 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 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 the images are clear and 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 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 is open, 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 in a short time.
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 transactions without interruption 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 using 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 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. 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 to that bank. All you need to do now is to transfer the amount you want to deposit to your Binance TR account using the information shown on the bank’s page 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 GAS Coin with TL on Binance TR?
After the deposit process, you can proceed to the step of buying GAS 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. On this page, type “GAS” in the search section on the right side and click on the GAS/TRY option from the results to go to the TL to GAS purchase page.
Now the following GAS trading page will open. On this page, in the red-marked area, you need to enter the price at which you want to buy GAS in the first box and the number of GAS you want to buy in the second box. After entering the amount, you can complete your purchase by clicking the “Buy GAS” 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 the 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 are supported by Binance’s core functions, gaining access to market-leading spot trading liquidity, a powerful matching engine, advanced security protocols, custody solutions, and risk controls through Binance TR.
