Binance TR allows easy ADA purchase with TRY for Turkish investors.

Cardano (ADA) is a Proof of Stake (PoS) blockchain network that allows ADA holders to participate in network operations and vote on software changes. It stands out with its research-focused design and mathematically verified code. While managing ADA transactions, it offers developers the opportunity to create smart contracts and decentralized applications. In this article, you can find answers to two frequently asked questions: what is Cardano (ADA) and how to buy Cardano (ADA) with TRY.

ContentsWhat is Cardano (ADA)?How to Buy Cardano (ADA) with TRY?How to Open an Account on Binance TR?How to Verify an Account on Binance TR?How to Deposit TL on Binance TR?How to Buy ADA Coin with TL on Binance TR?What is Binance TR? What is Cardano (ADA)?

Cardano is a Proof of Stake (PoS) Blockchain network that allows ADA coin holders to participate in network operations and vote on software rule changes. Developers can use Cardano for smart contracts and decentralized applications similar to other Blockchains. Access COINTURK FINANCE to get the latest financial and business news.

Cardano stands out by emphasizing a research-focused design approach that aims for academic rigor to ensure the adoption of technology. This means that Cardano's features are based on scientific research and formal verification that mathematically validates its code.

Cardano's consensus algorithm Ouroboros is considered "provably secure" through formal review. The blockchain's code is written in Haskell, a language known for its reliability in critical sectors like banking and defense. IOHK, the company behind Cardano, has published over 90 academic papers and established partnerships with global universities, demonstrating its commitment to a research-based approach.

Cardano's primary function is to facilitate transactions with ADA coins and enable developers to create secure and scalable applications. The blockchain network is divided into two layers: the Cardano Settlement Layer (CSL) for transferring ADA and recording transactions, and the Cardano Computation Layer (CCL) for smart contract logic.

Cardano nodes are divided into three types. mCore nodes stake ADA coins and participate in governance, relay nodes send data between mCore nodes and the general internet, and edge nodes create cryptocurrency transactions. This structure supports Cardano's decentralization and secure network.

Since its inception in 2017, Cardano has undergone five major network updates. Significant updates include Byron, which enabled ADA transfers, and Voltaire, which introduced a new funding model for software development. These updates highlight Cardano's evolving capabilities and commitment to continuous improvement.

Ouroboros is Cardano's PoS consensus algorithm that ensures network security, transaction validation, and new ADA issuance. It divides time into epochs and slots, and slot leaders are randomly selected to add blocks to the blockchain. Ouroboros includes two types of blocks: genesis blocks, which list all slot leaders, and main blocks, which contain transaction details and update proposals. After each epoch, previous slot leaders randomly select new ones, maintaining the blockchain's integrity and decentralization.

How to Buy Cardano (ADA) with TRY?

Binance TR is the most suitable cryptocurrency exchange for investors in Turkey looking to buy Cardano (ADA). Over 100 cryptocurrencies, including ADA, can be bought and sold on Binance TR, where accounts can be created quickly. Follow these steps to buy Cardano (ADA) 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 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. Depending on your preference, you can complete the verification process from your phone or through Binance TR's official website. Note that you will need your mobile phone for identity verification on 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 "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 "Copy URL" 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, first, tap on "Identity" to continue.

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, tap on "Upload Front" to continue. After taking a photo of the front side of the document according to the document type you selected, tap on "Upload Back" and take a photo of the back side of the document and upload it. When taking photos of the front and back sides of your ID card or driver's license, make sure the images are clear and the information in the photo is easily readable.

Then tap on "Selfie" to continue. 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 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 and trade TL 24/7 from your Vakıfbank, Ziraat Bankası, İş Bankası, Akbank, Fibabanka, Şekerbank, and Türkiye Finans accounts without interruption. For 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 and hover over the "Wallet" option at the top left of the homepage, then click on "Deposit" 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 to that bank. Now, all you need to do is transfer the amount you want to deposit into your Binance TR account using the information displayed on the page of the bank you selected.

After your bank completes the transfer process, the funds you sent will automatically be reflected in your Binance TR account wallet.

How to Buy ADA Coin with TL on Binance TR?

After the deposit process, you can proceed to the TL to ADA 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. In the search section on the right side of this page, type "ADA" and click on the ADA/TRY option from the results to go to the TL to ADA purchase page.

Now the following ADA trading page will open. In this page, in the area marked with a red box, you need to enter the price at which you want to buy ADA in the first box and the number of ADA you want to buy in the second box. After entering the amount, you can complete your purchase by clicking the "Buy ADA" 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.

Users of Binance TR are supported by Binance's core functionalities, gaining access to market-leading spot trading liquidity, a powerful matching engine, advanced security protocols, custody solutions, and risk controls.

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