Tezos is a smart contract-enabled blockchain that is self-governed and amendable. Tezos has a market valuation of over $3 billion after raising $232 million in its initial coin offering (ICO) in 2017. Tezos’ success can be attributable to its advantages over Ethereum, as well as investors’ renewed interest in smart contracts.
Tezos and Ethereum both use smart contracts to decentralize financial services. Smart contracts are computer programs that are used to replace the provisions of an actual contract. These contracts can execute contracts based on the terms (code) posted to the blockchain since they can carry value (cryptocurrencies).
How to Buy Tezos (XTZ)
You can follow the steps explained below to buy Tezos
Sign up for an online account
Opening a cryptocurrency brokerage account is the first step in purchasing Tezos. As far as U.S.-based Bitcoin exchanges go, the most well-known is Coinbase. It is highly regulated and insured, which makes it an excellent investment for any investor. Another excellent option is SoFi, which offers new investors free Bitcoin in exchange for creating a SoFi account.
To create a Coinbase account, you must give your legal name, address, email, phone number, photo ID, and Social Security number.
Purchase a wallet
It’s critical to store your Tezos tokens safely to protect your investment. If you want to actively trade Tezos, you need to maintain your cash on a reputable cryptocurrency exchange.
If you’re buying Tezos to hold them, use a crypto wallet to keep your assets safe. Software wallets are an excellent option because they are free and simple to use. If you want to be as secure as possible, look into a hardware wallet.
A hardware wallet allows you to keep your cryptocurrency offline. This is analogous to securing gold in a vault. Hardware wallets are standalone devices that connect via USB to your computer and provide access to your cryptocurrency.
Make your purchase
After deciding where to open a cryptocurrency brokerage account and selecting a cryptocurrency wallet, you can purchase bitcoin. Tezos can be purchased in the same way that equities can: with limit and market orders.
When you place a market order, you pay the current market price for Tezos. If you place a limit order, your buy is only performed if the market price meets your limit order price.
Best Software Wallet: Coinbase Wallet
Software wallets, as opposed to hardware wallets, keep your cryptocurrency on your computer or smartphone. Because software wallets are less secure than hardware wallets, it’s critical to select a trusted provider if you wish to keep your crypto in one.
Coinbase is well known for its exchange, but it also has a trusted Coinbase Wallet program that allows you to safely store your funds.
The security of the Coinbase Wallet is excellent. It offers industry-leading security standards like 2-factor authentication and allows you to control your private keys. Because you can simply transfer cryptocurrency from Coinbase Wallet to a Coinbase exchange, it’s a natural choice if you currently use Coinbase.
Trade or sell your cryptocurrency
Keep your Tezos on an exchange if you plan to actively trade them. Large exchanges are generally secure, although they are not hacker-proof. To reduce your security risks, make sure you trade on a reputable exchange.
If you keep your Tezos in a hardware or software wallet, you won’t be able to sell them until you return them to a cryptocurrency exchange. To do so, send your tokens to your exchange account’s cryptocurrency address. You can sell your Tezos for Bitcoin, Ethereum, or USD once the transaction has been sent.
The future of Tezos
Tezos is a promising alternative to traditional financial services in a variety of industries. Tezos has a lot of growth potential, but it’s still a hazardous investment.
It’s difficult to say whether Tezos will have enough advantages over Ethereum to boost its market share as Ethereum transitions to a proof-of-stake mechanism.
