Where to buy Tezos(XTZ) if you are planning to invest in this crypto? This guide explains the best places to get Tezos in detail!
The cryptocurrency ecosystem has witnessed enormous growth in the past few years and is still under continuous development and progress. Back in 2009, it started with Bitcoin a brand new technology that is able to send value(BTC) across borders in a trustless way.
After the definite breakthrough of Bitcoin in 2013, it didn’t take long before blockchain technology really took off with the birth of Ethereum. In fact, Ethereum took this interesting technology to another level by introducing smart contracts in a decentralized way.
And then there is Tezos which became one of the most promising and potentially revolutionary cryptocurrencies and blockchain networks in the market. The team behind Tezos has been doing a great job facing several challenges and growing an ecosystem that has been adopted by many large companies in the crypto market.
In fact, in 2021, Mcclaren decided to team up with Tezos by representing it on their cars during racing for 3 years in a row. Also interested in this promising blockchain project?
This guide in the best places to get Tezos(XTZ) I’m going to share with you finding the most trusted exchanges. Also, it gives you some deeper insight into the project.
Finally, I’ll explain what possibilities you have in buying XTZ regardless of where you live in the world. So let’s go 🙂
Best places to Get Tezos(XTZ): Quicktake
In short, below a consolidated list of the best places to buy Tezos(XTZ) cryptocurrency. For ease of use, I have chosen exchanges that are reliable, secure, and offer high liquidity.
- Binance – World’s most popular cryptocurrency exchange with almost zero fees
- Kraken – US-based exchange that offers the most fiat trading pairs(AUD, EUR, USD, GBP)
- Kucoin – Cryptocurrency exchange with the most crypto holders on the platform
- Bitfinex – One of the eldest in the list and mainly targetted professional traders
- Bittrex – Reliable crypto exchange that is specialized in crypto spot trading
Short history of Tezos
The Tezos blockchain project is backed by a Swiss company called Dynamic Ledger Solutions and has two owners: Arthur Breitman and Kathleen Breitman(man and wife). Furthermore, the owners created the idea back in 2014 by submitting a ‘positioning paper’ which was the foundation of the Tezos protocol. Later on, in 2017, the founders were able to launch an ICO which was very successful by collecting $232 million funds in Bitcoin and Ether. In fact, collecting these funds was the biggest amount ever raised in crypto so far.
Unfortunately, this ICO launch got into trouble because of a dispute between the founders and a big investor. As a result, the launch of the Tezos platform got delayed and a legal suit happened. Next, in 2018 two new investors entered the project which resulted in a ‘go’ for the development activities of the blockchain project.
The Tezos blockchain is based upon Ethereum that uses decentralized smart contracts and decentralization as key factors. However, where Ethereum uses a lot of electricity to mine the new blocks Tezos uses a mechanism called Liquid Proof of Stake for mining. Additionally, this technology is energy efficient and self upgradable.
As of today, a fully functioning decentralized network has been established. Besides, this network is a distributed, peer-to-peer, and permissionless network. The fundamentals of the network have been realized and now the owners have given the Tezos-foundation the lead in future developments of the Tezos protocol.
Why Liquid Proof of Stake?
Tezos is a liquid Proof of Stake system that requires one to stake a certain number(10000) of Tezos token to participate in the consensus over the blockchain. The process of staking Tezos tokens (XTZ) is called baking. Furthermore, each baker(holder of 10000 tokens) has voting rights and also validates the transactions. Also, holders can delegate their validation rights to other token holders without losing ownership which makes it ‘liquid’. The process of adding blocks to the blockchain by the ‘bakers’ is as follows:
- Bakers get block publishing rights based on their stake.
- Each block is backed by a random baker and then notarized by 32 other random bakers.
- If the block is good to go then the block gets added to the blockchain.
- The successful baker gets a block reward and can charge transaction fees for all the transactions inside the block.
In summary, each baker has to stake 10000 XTZ tokens and can delegate validation rights. Additionally, each baker gets rewarded 16 XTZ for adding a new block to the blockchain.
What is the Best way to Buy Tezos(XTZ) with USD?
First of all, buying a cryptocurrency like XTZ isn’t that hard anymore, especially if you compare it with buying cryptocurrency 5 years ago. Even though, buying Tezos with fiat can still be a real bummer if you don’t like to give all your personal details(passport or driver’s license) upfront.
Basically, Coinmama allows anonymity for its users and also acts as a bridge, narrowing the gap between users and major cryptocurrency exchanges. Because it does not require any verification, it is available worldwide with no geographical restrictions or limitations. How does it work?
Buying Tezos(XTZ) with Coinmama
It is important to realize that Coinmama isn’t a platform that uses custodian wallets like Binance or Kraken to store your cryptocurrency. As a result of this, you should have a local wallet installed on your desktop or mobile phone.
- Install a multicurrency wallet like Trust or Atomic
- Go to the Coinmama platform
- Choose ‘Buy’ and give the amount in fiat(USD or EUR)
- Sign up by email including country of residence
- Just enter your public key(wallet address)
- Click ‘Go to Payment’ and finish the buy order
That’s all and you will receive XTZ in your wallet in just a few minutes 😎
What is the fastest way to buy Tezos(XTZ)?
If you are in a real hurry to acquire some new XTZ and don’t bother much about extra fees then there are two options available. The best place to buy Tezos depends a little on this situation. Particularly there are two scenarios: you already own some cryptocurrency or you want to buy with fiat currency.
In the first option, you already own some Bitcoin, ETH, LTC, or any other cryptocurrency. The next step is to use the Changelly platform and convert to XTZ right away. This is pretty straightforward and very quick.
Moreover, and maybe even better, you already have an account at Binance or Kraken. Suppose you have some BTC at Binance, then the next thing to do would be to use the ‘Market buy’ option. You can find this in the upper menu choose ‘Trade’ and you can buy XTZ tokens right away on the XTZ/BTC pair.
The second option is a little more complicated as you want to buy Tezos with fiat currency instantly. Therefore, I would use the Coinmama platform and follow the steps explained in the chapter above.
What is the safest place to buy Tezos(XTZ) cryptocurrency?
In my opinion, if you really want to be safe from hackers or scammers, buying or trading Tezos at a centralized platform like Binance isn’t the best way. Additionally, you should also realize that you want to invest in Tezos for the long run.
If that is the case, then it is highly recommended that you start using a hardware wallet like Ledger Nano to be as safe as possible. The big benefit of Ledger is that you can store your cryptos offline as long as needed.
Also, if you want to buy or sell, you can use the built-in exchange that is available in the app on the device. Remember that trading with the device comes at a cost as you are using a third party(Coinify) for the transactions.
Where can I buy Tezos(XTZ) in the US?
In general crypto traders from the USA are very limited in the options they have on trading digital assets on a global scale. In most cases, only the coins that can apply to strict legal regulations are allowed. Luckily for you(if you are from the USA) Tezos can be traded or bought on Kraken and Coinbase.
Best platforms to buy Tezos(XTZ): Comparison
This comparison guide provides an overview of places to buy Tezos(XTZ) that are reliable and secure. The research is based on assessing the platform’s features, ease of use, fees for buying crypto, and security.
|Platform||Maker fees||Taker fees||Rating||Guides|
|Binance||0.075%||0.075%||Binance trading guide|
|Kraken||0.16%||0.26%||Kraken trading guide|
|Kucoin||0.10%||0.10%||Kucoin trading guide|
|Bitfinex||0.10%||0.20%||Bitfinex trading guide|
|Bittrex||0.25%||0.25%||Bittrex trading guide|
Top 5 cryptocurrency exchanges that offer trading Tezos(XTZ)
Next in this guide, I’ll deep dive into the different platforms that offer to trade in XTZ cryptocurrency. Also, each platform has its unique features and it’s up to you to decide which one will suit you best!
First, there is Binance, a crypto trading platform that is is founded by Changpeng Zhao, a well-known blockchain industry expert, and expert in setting up trading systems.
In the past, he also founded BijieTech and was head of development at Blockchain.info. Binance can be considered as the best altcoin trading platform if you consider the trading volume and the number of coins listed on the exchange(300+).
Additionally, based on daily(24h) trading volumes, Binance is the biggest cryptocurrency exchange in the world. Also, it has millions of cryptocurrency traders using its platform on a daily basis.
Besides trading, Binance offers several other feature-rich products, including custodian wallets, crypto margin trading, lending service, and earning rewards with staking.
Trading a Binance can be done with almost zero fees(0.075%) and you can use this link when signing up. It will give you an additional 10% discount on fees for life 😄.
XTZ Cryptocurrency trading pairs on Binance
Another popular place to get Tezos is Kraken. Additionally, it’s one of the most reliable and safest cryptocurrency exchanges out there and has been around for a while already.
Founded in 2011, Kraken is a US-based cryptocurrency trading platform available in 48 US states and 176 countries. Also, because of its safe reputation, the exchange data is being used as a ticker(BTC/USD) on the Bloomberg terminal.
The Kraken platform specializes in offering Bitcoin trading services for the beginner as well as the professional trader. Besides trading in digital assets, it’s also possible to store your crypto in custodian wallets, crypto lending services, and staking cryptocurrencies.
Spot trading cryptocurrencies gives you a fee of 0.16% and this value decreases when USD volume rises. Additionally, margin trading is even cheaper where the rate is set to 0.01%.
XTZ Cryptocurrency trading pairs on Kraken
Compared with the centralized exchanges above, Kucoin is probably a modern platform for trading any cryptocurrency. This platform founded by a group of cryptocurrency enthusiasts from Asia aims to offer comfort and security to your mighty assets. Kucoin which was launched in May 2017, has its headquarters in China despite the difficult climate towards cryptocurrencies performed by the local government.
One of the remarkable policies this centralized trading platform has is its liberal sign-up policy for new users. Signing up at this platform can be done with just e-mail and mobile phone which speeds up the process of buying Tezos in a fast way.
Besides trading, Kucoin offers several other feature-rich products, including custodian wallets, crypto margin trading, lending service, and earning rewards with staking.
XTZ Cryptocurrency trading pairs on Kucoin
Is Kucoin a good place to get Tezos(XTZ)? Below the options you have to acquire LINK here:
BitFinex has been around for many years in the cryptocurrency space and is one of the exchanges with the highest daily trading volumes. To start trading at this exchange you have to sign up and go to a regular KYC/AML procedure first.
This online trading company is based in Hong Kong and has been operational since 2014. It gives its users the option to trade more than 100 cryptocurrencies/pairs in exchange for USD, EUR, ETH, or BTC. Depositing EURO or USD to this is exchange is currently only available by wire transfer.
Bitfinex is very popular among professional traders because of its high trading volumes and the possibility to go Long or Short. Therefore to start trading at this platform a minimal deposit of $10.000 is needed to get an account there.
XTZ Cryptocurrency trading pairs on Bitfinex
Last in the list of best places to get Tezos is Bittrex. Since the beginning of the crypto era, Bittrex has been around and gained much trust along the way.
Bittrex has one main service it provides which is its trading platform. The platform lists a wide variety of currencies and allows for standard spot trading orders to be executed. Particularly, I have Bittrex added to the list, because they are very reliable on the BTC spot trading pair.
The current trading engine seamlessly glues together automated trading features. For instance, stop-loss, good ’til canceled (GTC), an instant buy or sell, with all the standard technical charting tools a trader needs. Also, if you are a US resident trader, this is another good place to start trading cryptocurrency.
XTZ Cryptocurrency trading pairs on Bittrex
To enumerate, Tezos is still a blockchain project with huge potentials. Especially, as they are challenging the Ethereum network by offering an energy efficient and self-upgradable blockchain.
Furthermore, buying crypto like Tezos has become easier these days if you compare it with trading cryptocurrency a few years back. Moreover, Tezos(XTZ) should be available for anyone on the globe without any restrictions. Therefore, by showing you the best options in this guide, I hope you have given you a clear view of what Tezos is all about and what the best places are to buy this cryptocurrency.
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