How to Buy Tezos (XTZ)

Beginner’s Guide

What Is Tezos (XTZ)?

Tezos is a blockchain network that’s based on smart contracts, in a way that’s not too dissimilar to Ethereum. However, there’s a big difference: Tezos aims to offer infrastructure that is more advanced — meaning it can evolve and improve over time without there ever being a danger of a hard fork. This is something that both Bitcoin and Ethereum have suffered since they were created. People who hold XTZ can vote on proposals for protocol upgrades that have been put forward by Tezos developers.

This open-source platform bills itself as “secure, upgradable and built to last” — and says its smart contract language provides the accuracy that is required for high-value use cases. According to Tezos, its approach means that it is futureproof and will “remain state-of-the-art long into the future,” meaning it can embrace developments in blockchain technology.

The technology underpinning Tezos was first proposed in a white paper that was released in September 2014. After a series of delays, the Tezos mainnet launched four years later.

How to Buy Tezos Summary

Get a Tezos wallet (e.g. Ledger, Trezor , Exodus, Guarda, AtomicWallet)
Find an exchange that sells Tezos (e.g. Crypto.com, Binance , Coinbase , Bitfinex , Kucoin)
Deposit money and make the trade
Withdraw the Tezos to your wallet

Buying Tezos in 3 Simple Steps

Desctop & Mobile

Tezos Hardware Wallets

Hardware wallets provide the highest level of security for storing cryptocurrencies such as Tezos (XTZ) because they store the private keys offline. If you are looking to store your Tezos in a hardware wallet, here are some popular options:

Ledger Nano S and Ledger Nano X: Ledger is a well-known brand in the cryptocurrency space and their hardware wallets, the Ledger Nano S and Ledger Nano X, support Tezos. The devices are easy to use and provide a high level of security.
Trezor Model T: The Trezor Model T is another popular hardware wallet that supports Tezos. It has a touch screen and provides advanced security features such as passphrase protection.
KeepKey: KeepKey is a hardware wallet that supports Tezos and other cryptocurrencies. It has a sleek design and provides high-level security to the user.
Ellipal Titan: The Ellipal Titan is a hardware wallet that supports Tezos and other cryptocurrencies. It has a touch screen and provides advanced security features such as air-gapped transactions.
SecuX V20: The SecuX V20 is a hardware wallet that supports Tezos and other cryptocurrencies. It has a large touch screen and provides high-level security features such as password protection and seed phrases.

These are just a few examples of the many hardware wallets available for storing Tezos. It is important to research and choose a wallet that meets your specific needs and provides you with the security features that you require.

The best option for storing any cryptocurrency would be to use a hardware wallet. These are pieces of hardware that store the private key to your coins offline.

Today, there are two leading hardware manufacturers to choose from – Ledger and TREZOR. Both companies have different models of hardware wallets that will get the job done.

If you want deeper insights on specific models, you can read my Ledger Nano X review or my TREZOR Model T review.

Tezos Software Wallets

Tezos is a blockchain platform that features a unique self-amending governance protocol. The platform has its own native cryptocurrency called Tez (XTZ), and as with any cryptocurrency, it is important to keep it safe in a wallet. There are several software wallets available for storing Tezos, and some of the popular ones are:

Ledger Live: Ledger Live is a desktop and mobile wallet that supports Tezos. It is a hardware wallet that enables users to manage their cryptocurrencies offline, and it provides high security to the user.
Exodus: Exodus is a popular software wallet that supports several cryptocurrencies, including Tezos. It has a user-friendly interface and is easy to use.
Galleon Wallet: Galleon Wallet is a desktop wallet that is specifically designed for Tezos. It is open-source and provides high security to the user.
Trust Wallet: Trust Wallet is a mobile wallet that supports Tezos. It is a multi-currency wallet and supports several other cryptocurrencies, and it provides users with a simple and intuitive user interface.
Atomic Wallet: Atomic Wallet is a multi-currency wallet that supports Tezos. It is available for desktop and mobile platforms and provides users with high-level security for their cryptocurrencies.

These are just a few examples of the many Tezos software wallets available. It is important to research and choose a wallet that meets your specific needs and provides you with the security features that you require.

Hardware wallets cost money, so if you’re not sure how serious you are about cryptocurrencies and just want to get a taste of what they feel like, perhaps you would be better off starting with a software wallet.

Payment methods:

Credit/debit card

Wire

Buy Tezos through Crypto.com

Crypto.com is a cryptocurrency exchange company based in Singapore. As of May 2022, the company reportedly had 50 million customers and 4,000 employees. The exchange issues a token, Cronos. The company was initially founded in Hong Kong by Bobby Bao, Gary Or, Kris Marszalek, and Rafael Melo in 2016 as “Monaco”. In 2018, the company was renamed as Crypto.com following a purchase of a domain owned by cryptography researcher and professor Matt Blaze. Domain sellers valued the domain at US$5–10 million.

Buy Tezos through Binance

Binance is a cryptocurrency exchange which is the largest exchange in the world in terms of daily trading volume of cryptocurrencies. It was founded in 2017 and is registered in the Cayman Islands. Binance was founded by Changpeng Zhao, a developer who had previously created high frequency trading software.

Buy Tezos through Coinbase

Coinbase is a convenient and cheap way to buy Ethereum and the platform is open to 200+ countries). Coinbase will sell you CRO for a variable fee that depends on your payment method (credit cards have a higher fee than wire transfers), order size and market volatility. Here’s how you buy Ethereum on Coinbase: Open a Coinbase account Add your payment method (Credit card or bank account) Go to “Buy/Sell” and select the amount of Ethereum you desire Click “Buy Cronos”

Buy Tezos through Bitfinex

Bitfinex is a cryptocurrency exchange owned and operated by iFinex Inc registered in the British Virgin Islands.Their customers’ money has been stolen or lost in several incidents, and they have been unable to secure normal banking relationships. Bitfinex was founded in December 2012 as a peer-to-peer Bitcoin exchange, offering digital asset trading services to users around the world. Bitfinex initially started as a P2P margin lending platform for Bitcoin and later added support for more cryptocurrencies.

Buy Tezos through Kucoin

Kucoin is a global cryptocurrency exchange for numerous digital assets and cryptocurrencies. Launched in September 2017, KuCoin has grown into one of the most popular crypto exchanges and already has over 8 million registered users from 700+ countries and regions. According to Alexa traffic ranking, KuCoin’s monthly unique ranking is in the top 5 globally. Known as the “People’s Exchange”, KuCoin operates in Seychelles, providing users with multi-language and 24/7 customer service. Meanwhile, KuCoin has established local communities all over the world in South Korea, Japan, Spain, Italy, Vietnam, Turkey, Russia, India, and other regions, providing users with the most local services. Currently, 1 out of every 4 crypto holders in the world is with KuCoin.

Step 3 – Withdraw Your Tezos (XTZ)

Once you decide on an exchange, open an account and buy your Tezos. Make sure to withdraw the Tezos from the exchange to your personal wallet.

Never leave coins on an exchange, as you risk losing them all if that exchange gets hacked or shuts down (which has happened in the past) and always double check address before send coins because you can send the coins to wrong address .

OVERVIEW

Who Are the Founders of Tezos?

Arthur Breitman was the man who wrote the Tezos white paper — and in a nod to Satoshi Nakamoto, he wrote his works under the pen name L. M. Goodman. He argued that one of Bitcoin’s biggest failings was the lack of a governance process that invited contributions from the community who use the network — as well as the fact that new tokens couldn’t be issued through this blockchain.

He and his wife Kathleen founded a startup called Dynamic Ledger Solutions which was tasked with writing the code that would underpin the Tezos protocol. This company was subsequently purchased by the Tezos Foundation to ensure that it owned all of the intellectual property rights relating to the network.

What Makes Tezos Unique?

Tezos is a blockchain platform that stands out in several ways, making it unique compared to other blockchain platforms. Here are some of the key features that make Tezos unique:

Self-amending Protocol: Tezos is designed to be a self-amending blockchain, which means that its protocol can be upgraded through a formal process of on-chain governance. This enables the blockchain to evolve and adapt to changing conditions, without requiring hard forks.
Formal Verification: Tezos has a strong focus on formal verification, which is a mathematical process that enables developers to verify the correctness of code. This helps to ensure the security and reliability of smart contracts and other applications built on the Tezos blockchain.
Liquid Proof-of-Stake: Tezos uses a consensus algorithm called Liquid Proof-of-Stake (LPoS), which enables token holders to participate in the consensus process by staking their tokens. This helps to ensure the security of the network while also providing incentives for token holders to participate.
On-chain Governance: Tezos has a formal on-chain governance process that enables token holders to vote on proposals for upgrading the protocol. This helps to ensure that the network evolves in a decentralized and democratic way.
Decentralized Development: Tezos has a strong focus on decentralized development, which means that anyone can contribute to the development of the protocol and applications built on it. This helps to ensure that the platform remains open and accessible to all.

These unique features make Tezos an innovative and forward-thinking blockchain platform that is well-suited for a wide range of applications, from decentralized finance to supply chain management and more.

How Many Tezos (XTZ) Coins Are There in Circulation?

Our data shows that 743,862,304 XTZ are in circulation at the time of writing.

A token sale for Tezos was held back in July 2017 — and during this ICO, a total of 65,681 BTC and 361,122 ETH was raised. At the time, this was worth $232 million, securing its place as one of the largest initial coin offerings ever held.

While 80% of this initial supply went to investors, 20% was split equally between the Tezos Foundation and Dynamic Ledger Solutions.

The mainnet’s launch was delayed by a series of lawsuits from some disgruntled investors, who argued that XTZ amounted to unregistered securities.

How Is the Tezos Network Secured?

Like other blockchains, Tezos uses a proof-of-stake consensus mechanism.

Anyone can become a validator and contribute to the smooth running of the network by making a security deposit. To incentivize honest behavior, rewards are given to those who work in the best interests of the blockchain — and those who act dishonestly risk losing their stake altogether.

Where Can You Buy Tezos ?

Tezos (XTZ) is a popular cryptocurrency that can be purchased on a variety of cryptocurrency exchanges and trading platforms. Here are some of the popular platforms where you can buy Tezos:

Binance: Binance is one of the largest cryptocurrency exchanges in the world and supports the trading of Tezos. It offers a wide range of trading pairs and supports multiple deposit and withdrawal methods.
Coinbase: Coinbase is a popular cryptocurrency exchange that supports the buying and selling of Tezos. It offers a user-friendly interface and supports multiple payment methods, including debit/credit cards and bank transfers.
Kraken: Kraken is a well-known cryptocurrency exchange that supports the trading of Tezos. It offers advanced trading tools and supports multiple fiat and cryptocurrency deposit and withdrawal methods.
Bitfinex: Bitfinex is a popular cryptocurrency exchange that supports the buying and selling of Tezos. It offers advanced trading tools and supports multiple deposit and withdrawal methods.
Huobi: Huobi is a cryptocurrency exchange that supports the trading of Tezos. It offers a wide range of trading pairs and supports multiple deposit and withdrawal methods.

These are just a few examples of the many cryptocurrency exchanges and trading platforms where you can buy Tezos. It is important to research and choose a reputable platform that meets your specific needs and provides you with the security features that you require.