Neo is a Layer-1 Blockchain that enables the creation and execution of smart contracts. It utilizes the Neo Virtual Machine (NVM) to support multiple programming languages, making it easier for developers to build applications. Neo employs the Delegated Byzantine Fault Tolerance (dBFT) consensus mechanism for network consensus and transaction validation. The native token of Neo, called NeoGas (GAS), is used for transaction fees and incentivizing validators. In this article, we will answer two common questions: What is NeoGas (GAS), and how can you purchase it with Turkish Lira (TRY)?
What is NeoGas (GAS)?
Neo is a Layer-1 Blockchain designed to facilitate the development and execution of smart contracts. The Neo Virtual Machine (NVM) is a powerful tool that enables developers to create and deploy smart contracts on the network. By supporting multiple programming languages, Neo aims to attract a diverse range of developers to its platform. To ensure network consensus and transaction validation, Neo utilizes the Delegated Byzantine Fault Tolerance (dBFT) consensus mechanism. This mechanism enhances security and improves the overall efficiency of the network by involving a small group of selected delegates responsible for validating transactions and creating new blocks. One of the key features of Neo is its native token, GAS. GAS is a NEP-17 token used for paying transaction fees and supporting the functionality of the Neo Blockchain. It is separate from Neo’s main cryptocurrency, NEO, and is primarily used for governance and staking within the network. GAS tokens are distributed to NEO holders over time, encouraging long-term investment in the network.
How to Buy NeoGas (GAS) with Turkish Lira (TRY)?
Binance TR is the ideal cryptocurrency exchange for Turkish investors looking to purchase NeoGas (GAS). Binance TR offers a wide range of cryptocurrencies, including GAS, and allows for quick account creation. To purchase NeoGas (GAS) with TRY on Binance TR, follow the steps below.
1. Open an Account on Binance TR:
Creating an account on Binance TR is a simple process. Visit trbinance.com and click on the “Create Account” option. Provide the necessary information, such as your email address, phone number, name-surname, date of birth, nationality, and T.C. identity number. Once you’ve entered the information accurately, complete the email/sms verification process to confirm your details. The next step is identity verification (KYC).
2. Verify Your Account on Binance TR:
Identity verification is a crucial security measure that must be completed before engaging in cryptocurrency trading and during account creation. You can perform this process either through your phone or the official Binance TR website. To verify your identity from the website, hover over the “Profile” option, click on “Identity Verification and Limits,” and then select “Verify.” Scan the QR code using your phone’s camera or choose the “Copy URL” option to receive the verification address via SMS. Follow the instructions on your phone to complete the verification process accurately.
3. Deposit Turkish Lira (TRY) on Binance TR:
You can easily deposit TL into your Binance TR account from various banks, including Vakıfbank, Ziraat Bankası, İş Bankası, Akbank, Fibabanka, Şekerbank, and Türkiye Finans. For other banks, you can use FAST to deposit up to 50,000 TL 24/7. Deposits over 50,000 TL from other banks are processed during EFT hours. To deposit money into your Binance TR account, visit trbinance.com, hover over the “Wallet” option, and click on “Deposit.” Choose your preferred bank and follow the instructions to complete the deposit process.
4. Buy GAS Coin with Turkish Lira (TRY) on Binance TR:
After completing the deposit process, click on the “Buy-Sell” option in the top left menu of the Binance TR website. Enter “GAS” in the search section and select the GAS/TRY option from the results. On the GAS trading page, enter the desired price and quantity, and click the “Buy GAS” button to complete your purchase.
What is Binance TR?
Binance TR is the official cryptocurrency exchange launched by Binance, the world’s largest exchange by trading volume, for Turkish investors in 2020. Located in Istanbul, Binance TR provides fiat-to-crypto and crypto-to-crypto trading services using Binance’s technology, security measures, and liquidity. Users in Turkey can deposit and withdraw Turkish lira (TRY) directly through bank channels and trade various cryptocurrencies with TRY trading pairs. Binance TR offers market-leading spot trading liquidity, advanced security protocols, custody solutions, and risk controls to ensure a seamless trading experience.
Disclaimer:
The information provided in this article does not constitute investment advice. Investors should be aware of the high volatility and risks associated with cryptocurrencies and conduct their own research.
