Hedera Hashgraph (HBAR) is a cryptocurrency network that aims to revolutionize the industry by offering fast transaction speeds and enhanced security. What sets Hedera Hashgraph apart from other cryptocurrencies is its patented Hashgraph algorithm, consensus mechanism, governance structure, and partnerships with major businesses. In this article, we will answer two commonly asked questions: What is Hedera Hashgraph (HBAR) and how can you buy it using TRY.
What is Hedera Hashgraph (HBAR)?
Hedera Hashgraph is a cryptocurrency network that aims to improve transaction speeds and security while involving a select group of businesses in network oversight. Unlike traditional Blockchains, Hedera Hashgraph uses a patented algorithm called Hashgraph to efficiently group transactions, resulting in faster and cheaper transactions compared to other Blockchain networks. For the latest financial and business news, visit COINTURK FINANCE.
At the core of Hedera Hashgraph is the Hashgraph consensus mechanism, which ensures agreement on transaction history among network participants. Consensus nodes play a crucial role in determining the order and history of transactions, while mirror nodes relay this information to other stakeholders. By limiting the number of nodes involved in consensus, Hedera Hashgraph achieves rapid finality, reducing the risk of transaction reversal.
The Hashgraph consensus mechanism relies on two types of nodes: consensus nodes and mirror nodes. Consensus nodes determine transaction history, while mirror nodes distribute this information across the network. This approach ensures secure and irreversible transaction recording, providing businesses with a reliable platform for decision-making.
Hedera Hashgraph is governed by the Hedera Governing Council, which consists of 39 members from leading companies such as Google, IBM, and Boeing. The council oversees the consensus nodes, ensuring transaction order, network integrity, and legal compliance across jurisdictions. Council members have equal voting rights and serve for limited terms, ensuring fair network and platform decisions.
While the Hedera Governing Council currently operates the main network nodes, the long-term vision is to open node operations to anyone who wishes to participate. This decentralized approach aims to enhance the network’s resilience and inclusivity, allowing a broader community to contribute to its growth and development.
How to Buy Hedera Hashgraph (HBAR) with TRY?
For investors in Turkey looking to buy Hedera Hashgraph (HBAR), Binance TR is the most suitable cryptocurrency exchange. Binance TR allows you to quickly create an account and trade over 100 cryptocurrencies, including HBAR. Follow the steps below to buy Hedera Hashgraph (HBAR) with TRY on Binance TR.
How to Open an Account on Binance TR?
Opening an account on Binance TR is easy. Go to trbinance.com and click on the “Create Account” button. Enter your basic information, such as email address, phone number, name, date of birth, nationality, and T.C. identity number.
After entering the required information, you will go through an email/sms verification process to confirm your details. Once completed, you will proceed to the identity verification (KYC) step.
How to Verify Your Account on Binance TR?
Identity verification is a necessary security procedure before you can start trading cryptocurrencies on Binance TR. You can perform the verification process through your phone or the official Binance TR website. Make sure you have your mobile phone handy if you choose to verify through 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.” Follow the instructions to scan the QR code with your phone’s camera or receive the verification address via SMS if you cannot scan the code.
Once you have the verification address on your phone, select the document type suitable for you and follow the prompts to upload the front and back sides of your ID card or driver’s license. After that, take a selfie and make sure your face fills the camera area. Once you have completed these steps accurately, your identity verification process will be completed shortly.
How to Deposit TRY on Binance TR?
You can deposit TRY into your Binance TR account easily from any bank. Vakıfbank, Ziraat Bankası, İş Bankası, Akbank, Fibabanka, Şekerbank, and Türkiye Finans accounts allow uninterrupted deposits and trades 24/7. For other banks, you can deposit up to 50,000 TRY 24/7 using 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 main page, and click on the “Deposit” option from the drop-down menu. Select your preferred bank and follow the instructions to make a transfer, EFT, or FAST payment using the provided account name and IBAN address. After your bank completes the transfer, the funds will be automatically reflected in your Binance TR wallet.
How to Buy HBAR Coin with TRY on Binance TR?
After completing the deposit process, you can proceed to buy HBAR coin with TRY. Click on the “Buy-Sell” option in the top left menu on the Binance TR website. On the page that opens, type “HBAR” in the search section on the right and click on the HBAR/TRY option.
The HBAR trading page will open, and you can enter the price at which you want to buy HBAR and the amount you want to buy. After entering the information, click on the “Buy HBAR” button to complete your purchase.
What is Binance TR?
Binance TR is the official platform of Binance, the world’s largest cryptocurrency exchange by trading volume, for cryptocurrency investors in Turkey. Binance TR, headquartered in Istanbul, can be accessed at trbinance.com.
Binance TR leverages Binance’s technology, security measures, and liquidity provided through Binance Cloud infrastructure to offer fiat-to-crypto and crypto-to-crypto trading services. Users in Turkey can deposit and withdraw Turkish lira (TRY) directly through bank channels and trade various cryptocurrencies with TRY trading pairs via Binance TR.
Users supported by Binance TR gain access to market-leading spot trading liquidity, a powerful matching engine, advanced security protocols, custody solutions, and risk controls.
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Disclaimer: The information provided in this article is not investment advice. Investors should be aware that cryptocurrencies are highly volatile and carry risks. It is recommended to conduct thorough research before making any investment decisions.
