COTI (COTI) is an innovative platform that provides solutions for the digital payment environment and the corporate token ecosystem. It utilizes a Directed Acyclic Graph (DAG) protocol and a unique Proof of Trust consensus algorithm to facilitate fast, secure, and environmentally friendly high-volume transactions. COTI is designed to comply with regulations and offers businesses cost-effective, sustainable, and legally compliant payment solutions with Know Your Customer (KYC) and Anti-Money Laundering (AML) controls. This article will answer two frequently asked questions: What is COTI (COTI), and how can you purchase COTI (COTI) with Turkish Lira (TRY)?
Contents
What is COTI (COTI)?
How to Purchase COTI (COTI) with TRY?
How to Open an Account on Binance TR?
How to Verify Your Account on Binance TR?
How to Deposit TRY on Binance TR?
How to Buy COTI Coin with TRY on Binance TR?
What is Binance TR?
What is COTI (COTI)?
COTI is an advanced platform that revolutionizes the digital payment environment and the corporate token ecosystem. Its main objective is to provide scalable, secure, and instant payment solutions. To achieve this, COTI combines a unique Proof of Trust consensus algorithm with a DAG protocol, which sets it apart from traditional Blockchain technologies. The DAG-based protocol allows COTI to overcome the limitations of traditional Blockchain systems, enabling high-volume transactions per second (TPS). This makes it ideal for businesses that require real-time transaction capabilities, ensuring quick and efficient payment processing. The Proof of Trust consensus algorithm further enhances security and scalability by integrating trust scores that verify transactions effectively and in an eco-friendly way.
COTI stands out for its commitment to being eco-friendly. Unlike traditional Blockchain networks that rely on energy-intensive mining processes, COTI’s infrastructure avoids mining altogether. This significantly reduces its carbon footprint, aligning with global efforts to promote sustainable and green technologies. By eliminating the need for mining, COTI also reduces operational costs, making it a cost-effective solution for businesses.
Furthermore, COTI’s ecosystem is designed to comply with regulations. It incorporates KYC and AML controls to ensure that all transactions meet the necessary legal standards. This regulatory readiness is crucial for businesses operating in the Web3 world, where adhering to legal frameworks is essential to prevent fraud and ensure transparency.
Additionally, COTI offers a range of services tailored to the needs of modern businesses. Its comprehensive package includes payment solutions that seamlessly integrate into existing business models. This allows companies to leverage COTI’s technology to enhance their payment infrastructure without overhauling their current systems.
How to Purchase COTI (COTI) with TRY?
For investors in Turkey looking to buy COTI (COTI), the most suitable cryptocurrency exchange is Binance TR. On Binance TR, you can quickly create an account and buy or sell over 100 cryptocurrencies, including COTI. To purchase COTI (COTI) with TRY on Binance TR, follow the steps below.
How to Open an Account on Binance TR?
Opening an account on Binance TR is simple. Go to trbinance.com and click on the “Create Account” option. In the first step, you will be asked to provide basic information such as your email address, phone number, name, date of birth, nationality, and T.C. identity number.
After entering the required information accurately, you will need to verify your email and phone number. Once this process is complete, proceed to the second step, which is identity verification (KYC).
How to Verify Your Account on Binance TR?
Identity verification on Binance TR is a necessary security procedure before starting cryptocurrency trading and during account creation. You can complete the verification process using your phone or through Binance TR’s official website. Please note that you will need your mobile phone to perform 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 on “Verify.” You will then need to scan the QR code that appears using 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 receive the identity verification address via SMS.
When you enter the address on your phone or scan the QR code, a screen will open where you can continue the verification process. Select the document type that suits you and follow the instructions to upload photos of the front and back sides of your ID card or driver’s license. You will also need to take a selfie. Ensure that the images are clear and the information is easily readable.
After completing these steps accurately, your identity verification process will be completed shortly.
How to Deposit TRY on Binance TR?
You can easily deposit TRY into your Binance TR account from any bank. You can deposit TRY 24/7 and seamlessly trade using your Vakıfbank, Ziraat Bankası, İş Bankası, Akbank, Fibabanka, Şekerbank, or Türkiye Finans accounts. For other banks, you can deposit up to 50,000 TRY 24/7 with FAST. Deposits over 50,000 TRY from other banks are processed during EFT hours.
To deposit money into your Binance TR account, 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. On the deposit page, select your preferred bank or choose the “Other Banks” option if your bank is not integrated with Binance TR. Follow the instructions provided by your chosen bank to complete the transfer.
After your bank completes the transfer process, the funds will be automatically reflected in your Binance TR account wallet.
How to Buy COTI Coin with TRY on Binance TR?
After depositing money, you can proceed to purchase COTI coin with TRY on Binance TR. Click on the “Buy-Sell” option in the top left menu on the Binance TR website. On the trading page, type “COTI” in the search section and select the COTI/TRY trading pair. Enter the price at which you want to buy COTI and the quantity you wish to purchase, then click the “Buy COTI” button to complete the transaction.
What is Binance TR?
Binance TR is the Turkish version of Binance, the world’s largest cryptocurrency exchange by trading volume. It was officially launched in 2020 to cater to cryptocurrency investors in Turkey. Binance TR provides trading services from fiat to cryptocurrency and cryptocurrency to cryptocurrency using Binance’s technology, security measures, and liquidity from the Binance Cloud infrastructure. Users in Turkey can deposit and withdraw Turkish Lira (TRY) directly through their bank accounts and trade various cryptocurrencies with TRY trading pairs on Binance TR.
Binance TR offers market-leading spot trading liquidity, a powerful matching engine, advanced security protocols, custody solutions, and risk controls supported by Binance’s core functions.
