Kyber Network was launched in 2017 as a decentralized finance (DeFi) application. Its founders are Loi Luu, Yalon Verner, and Victor Tran. While the essence of cryptocurrencies is decentralization, including exchanges like Bitlo.com being centrally managed, Kyber Network operates as a decentralized exchange. All transactions are made through smart contracts on Ethereum.
Kyber Network (KNC) is an ERC-20 based protocol that enables instant exchange between cryptocurrencies and digital assets. This protocol allows for the exchange of cryptocurrencies through a decentralized exchange. This exchange process is verified on the blockchain.
Although it operates on the same principle as the 0x (ZRX) project, the difference is that while 0x uses smart contracts, Kyber Network (KNC) processes these transactions directly on the blockchain.
One of the main advantages of cryptocurrency exchanges is the ability to quickly exchange your cryptocurrencies without losing value. However, the situation is different in decentralized exchanges. If there are not enough buyers and sellers, you may not be able to exchange your cryptocurrencies or might have to exchange them below their value. At this point, Kyber Network differentiates itself from other decentralized exchanges with its reserve system, preventing users from suffering losses.
In addition to earning commission fees through KNC tokens, Kyber Network also generates additional income through its reserve system. This makes KNC tokens stand out as one of the key features that increase its value over its competitors.

Although Kyber Network is a decentralized exchange platform, you do not need to hold your money on this network. As soon as exchanges are processed on the blockchain network, the counterparty can start using them. Besides instant cryptocurrency exchanges, it can also be used for payments. Regardless of the cryptocurrency requested by the person or entity you are paying to, your cryptocurrency is converted to the requested cryptocurrency on Kyber Network and transmitted.
Kyber Network Crystal (KNC) is a token issued for use in exchange transactions on the Kyber Network. It serves three purposes:

Kyber Network Crystal (KNC) was minted at an ICO with a total of 226,000,000 KNC and distributed approximately 60% to participants. Currently, there are 180,057,587 KNC in circulation.

Kyber Network Mining is possible through the exchange and conversion of cryptocurrencies on the network. You can send your cryptocurrency to a business that receives payment in a different cryptocurrency without exchanging it. Businesses, i.e., the receiving parties, earn a certain amount of KNC reward for every user they recommend KNC to.

Contrary to what is assumed, buying Kyber Network with Turkish Lira in Turkey is a very easy and quick process. You can buy Kyber Network without needing any technical knowledge or official documents.