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Turkish lira (TRY) to API3 (API3) Instantly

Purchase API3 (API3) with Turkish lira (TRY) easily at Switchere and benefit from fast, secure transactions.

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About
API3 (API3)

API3 is a collaborative project dedicated to building, managing, and monetizing decentralized APIs (dAPIs) at scale, directly addressing the blockchain oracle problem. It aims to connect smart contracts with real-world, off-chain data in a more secure, transparent, and cost-effective manner. Unlike traditional oracle models that rely on third-party intermediaries, API3 champions a first-party oracle solution. This model allows API providers to run their own oracle nodes, called Airnodes, with minimal effort. This direct data sourcing from the provider to the blockchain technology eliminates the need for middlemen, reducing attack vectors and increasing the reliability of on-chain data feeds for various DeFi applications and Web3 infrastructure.

The core of the ecosystem is the API3 token, a digital asset that functions as both a utility and governance token. Token holders can participate in the API3 DAO, which governs the entire network, including the selection of dAPIs and collateral management. Staking the API3 token is a crucial component of its tokenomics, as it provides a security collateral and an insurance-like mechanism for users of the dAPIs, guaranteeing service quality and data integrity. This cryptographic security model aligns incentives between API providers, dApp developers, and the DAO, fostering a robust and decentralized Web3 API economy.

API3 (API3)

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How to Buy API3 (API3)

  1. Select currency menu

    Choose TRY to API3 Pair

    Select your preferred payment method and enter the amount.

  2. Crypto address page

    Enter Your API3 Wallet Address

    Provide your API3 wallet address and proceed with the payment.

  3. Confirmation page

    Receive Your API3

    Complete the payment, and your API3 will be sent to your wallet.

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Frequently Asked Questions

  • What is the best way to buy API3 tokens using Turkish Lira (TRY)?

    To buy API3 with Turkish Lira, you need to use a cryptocurrency exchange that offers a direct TRY/API3 trading pair. The process involves registering on a platform, completing the required KYC/AML compliance, and depositing TRY via a local bank transfer (Havale/EFT). Once your fiat deposit is confirmed, you can navigate to the TRY/API3 order book and execute a buy order to acquire the digital asset.

  • What is the utility of the API3 token within its DAO governance structure?

    The API3 token is central to the project's DAO governance. Token holders can stake their API3 to participate in voting on key proposals that shape the network's development and operational parameters. Staking not only grants governance rights but also provides stakers with a share of the dAPI (decentralized API) usage revenue. This aligns the incentives of token holders with the long-term success and security of the decentralized oracle network.

  • Why is a direct TRY to API3 fiat on-ramp beneficial for Turkish users?

    A direct TRY/API3 fiat on-ramp provides significant advantages. It eliminates the need for intermediate trades, such as converting TRY to USDT or BTC first, which reduces overall transaction fees and minimizes potential price slippage. This provides a more capital-efficient and streamlined process for local users to gain exposure to the API3 decentralized oracle network and its Web3 API ecosystem directly with their native currency.

  • What fundamental problem does the API3 project solve with its first-party oracles?

    API3 addresses the 'Oracle Problem' by creating a decentralized oracle network of first-party oracles. Unlike third-party oracles that act as middlemen, first-party oracles are operated directly by the API providers themselves. This is facilitated by a lightweight middleware called Airnode, which allows API providers to easily bring their real-world data on-chain, increasing transparency and security for smart contracts that rely on this external data.

  • Are there specific fees to consider when trading TRY for API3?

    Yes, several fees apply. First, the cryptocurrency exchange will charge a trading fee (maker/taker fee) for executing the TRY/API3 order. Second, while TRY deposits via bank transfer are often free, some platforms may charge a withdrawal fee for fiat. Finally, if you move your API3 tokens off the exchange to a private digital wallet, you will incur a blockchain transaction fee, commonly known as a gas fee, which is paid to the network validators.

  • What is the most secure way to store API3 tokens after a TRY purchase?

    For maximum security, transferring your API3 tokens from the exchange to a self-custody digital wallet is recommended. A hardware wallet (cold storage) offers the highest level of protection as it keeps your private keys offline. Software wallets (hot wallets) are also a good option for self-custody. Leaving assets on an exchange (custodial storage) is convenient for active trading but exposes you to platform-specific risks. Always ensure you securely back up your wallet's seed phrase.

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