**eCash (XEC): An Overview**
eCash (XEC) is the rebranded version of BCHA, which originated from the Bitcoin Cash (BCH) fork and was developed by the Bitcoin ABC team. Leveraging the Avalanche consensus protocol, eCash ensures high security and near-instant transaction confirmations. It introduces features such as staking and custom token creation, and uses a more user-friendly unit of account expressed in ‘bits.’
**Contents**
1. What is eCash (XEC)?
2. How to Buy eCash (XEC) with TRY?
3. How to Open an Account on Binance TR?
4. How to Verify Your Account on Binance TR?
5. How to Deposit TL on Binance TR?
6. How to Buy XEC Coin with TL on Binance TR?
7. What is Binance TR?
### What is eCash (XEC)?
eCash, formerly known as BCHA, is a cryptocurrency that evolved from a fork of Bitcoin Cash (BCH) and was developed by the Bitcoin ABC team. The rebranding to eCash (XEC) took place on July 1, 2021. While the name and display format changed, the core functionality of the cryptocurrency remains intact.
One of eCash’s key features is the Avalanche consensus protocol, which enhances Blockchain security and provides nearly instant transaction confirmations. This protocol also supports future network upgrades, ensuring the platform remains adaptable and forward-looking.
eCash offers several innovative features, including staking, which allows users to participate in the network’s consensus process and earn rewards. Additionally, the platform supports eTokens, enabling the creation of custom tokens within the eCash ecosystem—a valuable tool for businesses and developers leveraging Blockchain technology.
The rebranding introduced a new unit of account expressed in ‘bits,’ where 1 BCHA equals 1 million XEC. This change aims to make the cryptocurrency more user-friendly and easier to transact with. Despite the rebranding, the fundamental mechanics and supply of the cryptocurrency remain unchanged, adjusted to the new ratio.
eCash is designed primarily for payments, aiming to be a scalable solution for value transfer. By integrating Proof of Stake (PoS) Layer 2 solutions, eCash can handle high-volume transactions efficiently. This scalability, combined with the security and speed of the Avalanche protocol, positions eCash as a robust option for digital payments.
### How to Buy eCash (XEC) with TRY?
Binance TR is the recommended cryptocurrency exchange for investors in Turkey looking to purchase eCash (XEC). On Binance TR, you can easily create an account and trade over 100 cryptocurrencies, including XEC. Follow these steps to buy eCash (XEC) with TRY:
#### How to Open an Account on Binance TR?
Opening an account on Binance TR is straightforward. Visit trbinance.com and click on “Create Account.” You will need 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 receive an email/SMS verification. Once verified, proceed to identity verification (KYC).
#### How to Verify Your Account on Binance TR?
Identity verification on Binance TR is a necessary security measure before you can start trading. This process can be done via your phone or the Binance TR website. Note that a mobile phone is required for identity verification.
On the Binance TR website, hover over “Profile,” click “Identity Verification and Limits,” and then “Verify.” You will need to scan a QR code with your phone’s camera or use the “Copy URL” option to continue the verification process on your phone.
Once you scan the QR code or enter the address, a screen will appear on your phone. Follow the steps to upload the front and back of your ID card or driver’s license and take a selfie for facial recognition.
After completing these steps accurately, your identity verification will be processed promptly.
#### How to Deposit TL on Binance TR?
Depositing TL into your Binance TR account is simple through all major banks. You can deposit and trade 24/7 from 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 via FAST. Larger deposits are processed during EFT hours.
To deposit money, go to the “Wallet” option on trbinance.com and select “Deposit.”
Choose your preferred bank from the list. If your bank is not integrated with Binance TR, select “Other Banks.”
In this example, using Vakıfbank, transfer the desired amount using the displayed account name and IBAN address.
After the transfer is complete, the funds will be reflected in your Binance TR account wallet.
#### How to Buy XEC Coin with TL on Binance TR?
Once your TL deposit is complete, you can buy XEC coins by selecting the “Buy-Sell” option on the Binance TR website.
Search for “XEC” and select the XEC/TRY pair.
Enter the purchase price and the amount of XEC you want to buy. Click “Buy XEC” to complete your transaction.
### What is Binance TR?
Binance, the world’s largest cryptocurrency exchange by trading volume, launched Binance TR for investors in Turkey in 2020. Headquartered in Istanbul, Binance TR offers fiat-to-crypto and crypto-to-crypto trading services using Binance’s technology and security measures. Users can deposit and withdraw Turkish lira (TRY) directly through bank channels and trade various cryptocurrencies with TRY pairs on Binance TR.
Binance TR provides market-leading liquidity, a powerful matching engine, advanced security protocols, custody solutions, and risk controls, all supported by Binance’s core functionalities.
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**Disclaimer:**
The information in this article is not investment advice. Cryptocurrencies are highly volatile and carry risks. Conduct your own research before investing.
