Polygon (MATIC) is a revolutionary solution designed to enhance transaction speeds, lower costs, and streamline processes on the Ethereum Blockchain network. This article explores two common questions: What is Polygon (MATIC) and how can you purchase Polygon (MATIC) using Turkish Lira (TRY)?

What is Polygon (MATIC)?

Polygon is a multi-layer platform developed to address the scalability challenges of Ethereum, the leading Blockchain platform for decentralized applications (dApps). With the rise in network usage, Ethereum has experienced congestion and increasing transaction fees. Polygon acts as a Layer-2 solution, adding layers to the Ethereum Blockchain without altering its fundamental properties. For the latest financial and business news, visit COINTURK FINANCE.

At its foundation, Polygon utilizes a sidechain network of unique Blockchains that connect to the main Ethereum Blockchain. These sidechains, created with Polygon’s software development kit (SDK), help reduce Ethereum’s congestion by processing transactions more efficiently and affordably. Polygon provides various scalability options for sidechains, such as Plasma Chains, zk-Rollups, and Optimistic Rollups.

The Polygon SDK enables developers to build Ethereum-compatible dApps on sidechains and link them to the main Polygon Blockchain. Polygon’s main network functions as a Proof of Stake (PoS) sidechain where participants can stake MATIC coins to validate transactions and take part in governance decisions.

MATIC coin is the key asset of the Polygon network, used as a unit of payment and settlement within the ecosystem. Developers use MATIC coins for transaction fees and other activities within their dApps. Investors can purchase MATIC coins to support Ethereum’s scalability or as an investment in Polygon’s potential growth.

Polygon offers numerous benefits to developers, users, and investors. For developers, it provides a scalable and cost-effective platform for building user-friendly dApps on Ethereum. Users benefit from faster transactions and lower fees when using dApps built on Polygon.

Many well-known dApps already use the Polygon network to enhance their scalability and efficiency. Examples include the decentralized exchange Sushi, the prediction market platform Augur, and the data exchange and monetization platform Ocean Protocol.

How to Buy Polygon (MATIC) with TRY

Binance TR is the preferred cryptocurrency exchange for Turkish investors looking to buy Polygon (MATIC). On Binance TR, users can quickly create an account and trade over 100 cryptocurrencies, including MATIC. Follow these steps to buy Polygon (MATIC) with TRY on Binance TR:

How to Open an Account on Binance TR

Opening a Binance TR account is straightforward. Visit trbinance.com and click “Create Account.” Enter basic details like your email address, phone number, name, birthdate, nationality, and Turkish ID number. After submitting your information, verify it via email or SMS. Once verified, proceed to identity verification (KYC).

How to Verify an Account on Binance TR

Identity verification on Binance TR is essential for security and compliance. You can complete this process on your phone or through the Binance TR website. On the website, go to “Profile” > “Identity Verification and Limits” and click “Verify.” Scan the QR code with your phone or use the “Copy URL” option for SMS verification. Follow the prompts to upload documents and a selfie. Ensure your photos are clear and readable. After completing these steps, your account will be verified shortly.

How to Deposit TL on Binance TR

Depositing TL into your Binance TR account is easy and can be done through various banks, 24/7. You can use banks like Vakıfbank, Ziraat Bankası, İş Bankası, Akbank, Fibabanka, Şekerbank, and Türkiye Finans. For deposits over 50,000 TL from other banks, use EFT during banking hours. To deposit, go to trbinance.com, select “Wallet” > “Deposit,” choose your bank, and follow the instructions to transfer funds to your Binance TR account.

How to Buy MATIC Coin on Binance TR with TL

Once you’ve deposited TL, you can buy MATIC by selecting “Buy-Sell” on the Binance TR website. Search for “MATIC” and choose the MATIC/TRY pair. Enter the price and amount of MATIC you wish to buy and click “Buy MATIC.”

What is Binance TR?

Binance TR, launched in 2020, is the Turkish arm of Binance, the world’s largest cryptocurrency exchange. Headquartered in Istanbul, Binance TR offers both fiat-to-crypto and crypto-to-crypto trading. It leverages Binance’s technology, security, and liquidity, enabling Turkish users to deposit and withdraw Turkish lira (TRY) directly via bank channels and trade various cryptocurrencies with TRY pairs.

With market-leading liquidity, a powerful matching engine, advanced security measures, and robust risk controls, Binance TR provides Turkish users with comprehensive and secure trading options.

In conclusion, Polygon (MATIC) significantly enhances Ethereum’s scalability and cost-efficiency. For Turkish investors, Binance TR offers a straightforward platform to buy and trade MATIC using TRY.