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Ways to invest in Tezos
The first thing you need to do is to sign up to a cryptocurrency broker or online exchange. Whatever approach you’re going to take to investing in Tezos, these platforms act as middlemen to help you complete transactions.
The most simple form of investing is to buy and sell Tezos, but you can also invest your money using CFDs, ETFs, or other investment products. If you’re unfamiliar with these, you can learn more by following the links below, or by scrolling further down the page.
What is Tezos?
Tezos is a cryptocurrency that was launched in 2014; it received over $230 million of investment in 2017 as many people saw it as one of the hottest coins for the future. The hype around Tezos has cooled since, but it’s still attractive to investors because of its use of proof-of-stake instead of intensive mining to maintain its blockchain.
The aim of Tezos is to be scalable by moving away from using proof of work systems to mine coins – like Bitcoin and other prominent cryptos. To understand why that’s so important, take our lesson on Bitcoin mining.
How to invest in Tezos
There are a few different ways to invest in Tezos. The best method for you depends on how much time and money you have to spend on your investments, and how quickly you want to see returns. Read through the list below to get to grips with what’s available to you.
- Broker platforms. Brokers are the easiest way to invest because they offer a simple interface that’s easy to understand, and fixed ‘buy’ and ‘sell’ prices for each coin. To buy Tezos, simply search for it with your broker. Just be aware that you might be charged a small fee or commission each time you trade.
- Cryptocurrency exchanges. An exchange is a slightly more advanced method of investing because you deal directly with other users. Instead of a fixed price, the buy and sell prices fluctuate constantly based on supply and demand. The upside is that you tend to get better prices because there’s no one in the middle taking a cut, and there’s a wider range of coins available. The interface can take some getting used to, and you might need to swap your fiat currency – like GBP or USD – for a cryptocurrency like Bitcoin before you can start buying coins like Tezos.
- Funds. A fund is a pool of money that’s contributed by lots of different investors. Each fund has a manager who decides what to do with all this money, which assets to invest in and when to buy or sell. Funds are usually aimed at wealthier investors so the barriers to entry are quite high, but more of them than ever are including cryptocurrency as part of their portfolios.
- Mutual funds. A mutual fund is your way to get the benefits of a fund at a lower price point. Mutual funds also collect money from lots of different investors and give it to a manager who decides which stocks and coins to buy. Mutual funds charge annual management fees and publish which assets they hold, so you should do your research before you invest in one. Look for one that holds cryptocurrency and charges low fees, but has traditionally performed well.
- Tezos ETFs. An exchange-traded fund is an alternative to a mutual fund that is often ideal for beginner or casual investors. You can buy ETFs through your broker very easily because they trade on the stock market. Rather than having a manager, ETFs decide what to hold based on a particular index or industry. An ETF that tracks the FTSE100, for example, owns all the stocks within it so that it’s price reflects the index’s performance.
- Crypto debit cards. You can use a crypto debit card to spend your coins online. As cryptocurrency has grown in popularity, more merchants have become willing to accept payments in it. Debit cards are your route to using them, as they make it very easy to hold coins in an account and then spend them to fund normal, daily purchases as you would regular currency.
- Smartphone apps. Apps allow you to buy, sell, and trade coins from your mobile phone. Brokers in particular offer high quality apps that you can link your account to, so that you can access all of the same features as you would through their main website platform.
- Tezos wallets. Wallets are a secure place to store coins and ideal if you intend to hold them for a long time. Wallets are superior to leaving your Tezos in a broker or exchange account because only you have the private key to access them, rather than relying on the security of a third party. What’s more, wallets now also offer integrated exchanges in many cases, so you can buy or sell Tezos from within your wallet.