How & where to buy Tezos (XTZ) online
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This beginner’s guide takes you through everything you need to know about buying Tezos. Learn about every step involved in getting your first coin, then take a look at why the Tezos cryptocurrency has value and how that value might change over time.
What are the best exchanges to buy XTZ on?
To get a cryptocurrency like Tezos, you need to sign up to a crypto trading platform. The list below includes some of the best options for beginners, and you can get started by clicking the links in the table. Or scroll down to read more about Tezos first.
How to buy Tezos online – a step-by-step guide
Step 1. Find an exchange
An exchange is the place to get Tezos if you want to take ownership of the coins themselves. It allows you to buy or sell coins directly, rather than using something like a CFD, which is how most brokers work. Exchanges also normally offer the best prices, because each platform is like a live market in action, with buyers and sellers coming together to set the going rate.
Two of the top exchanges that offer Tezos are:
- Binance: Binance is the most popular exchange in the world and the go-to place to look for any cryptocurrency. You can buy and sell Tezos along with hundreds of other crypto coins on the platform. Join Binance today >
- Bittrex: Bittrex is another exchange that boasts a large number of coins, so you can find almost anything you want to buy. It also has a slick mobile app that you can use to make moves on the go. Sign up with Bittrex >
Step 2. Sign up and fund your account
For most exchanges you need to create an account before you can buy any coins. It’s simple to do so but you will almost certainly have to supply some personal information, like your contact details, along with a form of photo ID in order to verify the account.
Once you’ve done that, you need to transfer some money into it. Again, most of the time this is easy enough and you can do so with a bank transfer or a card payment (for a small fee, which might be 3-5%). Some platforms only deal in cryptocurrency and you have to connect a crypto wallet to use it, but this isn’t necessary to get Tezos.
Step 3. Purchase
Find Tezos on your chosen exchange by searching for its ticker symbol, XTZ. The results will show up as a list of pairs, like XTZ/BTC, which refers to how much Tezos will cost if you pay with Bitcoin. Click the pair that corresponds with how you want to pay for it, enter how much you want, and execute the trade. Then the new coins will be added to your account wallet.
Note that it might not be possible to pay for Tezos with a fiat currency, such as GBP or USD. That’s not unusual for altcoins and there’s an easy way around it. Just use your fiat money to buy a cryptocurrency like Bitcoin first, and then use that to pay for Tezos.
Step 4. (Optional) Get a suitable wallet
The final step is to decide how you want to store your new coins. Many people are happy to leave them on the exchange, as these platforms are relatively secure and it’s the best option if you plan to use them in the near future.
However, a dedicated cryptocurrency wallet gives you more control over the coins and secures them away from the exchange. A wallet acts like a banking app for crypto, which you use to store and manage your coins. Wallets are often free, or come with a small one-off fee, and they are a good idea if you plan to hold onto the coins for a while.
Here are two of the top wallets around:
- CoolWallet: CoolWallet is a mobile wallet, where you can manage your coins through an app on your phone. But it also comes with a physical device, shaped like a card, that stores the coins completely offline. Get CoolWallet now >
- Infinito Wallet: Infinito Wallet is a wallet that you can download straight onto your phone or computer desktop and manage your coins from there. It’s easy to get started in just a couple of clicks. Join Infinito Wallet today >
How to trade Tezos – a step-by-step guide
Step 1. Find a broker
Trading a cryptocurrency means using CFDs to speculate on small changes in price. For that, you need a broker that offers CFD trading, and ideally one that charges very low fees for each trade. This strategy is based around making lots of moves over the course of a day, so high fees can be a drain on your funds.
Here are two of the top brokers that offer Tezos CFDs right now:
- eToro: The Israeli-based broker, eToro, allows free trading on a wide range of cryptocurrencies, as well as other assets like stocks, forex, and indices. Sign up with eToro >
Cryptoasset investing is unregulated in some EU countries and the UK. No consumer protection. Your capital is at risk.
- Markets.com: Markets.com is another CFD broker that offers the top cryptocurrencies along with the most popular stocks and indices as well. Join Markets.com >
Step 2. Create an account
Before you can start trading you have to set up an account. Like with an exchange, it’s easy to do and only takes a few minutes but you will have to supply some contact details and ID. There are normally more payment methods available on a broker, including PayPal and others, and deposits are usually free. You may, however, have to pay a fee on any withdrawals.
Step 3. Learn how to perform technical analysis
To be a successful day trader you need to be able to analyse price charts and identify patterns that can help you make the right decisions. By studying the Tezos price you can pick out things like its support and resistance levels, which are points at which a price often rebounds or falls back respectively.
Each trader uses different metrics to guide their trading strategy. By learning how to day trade you can discover which ones work best for you and shape your research accordingly.
Step 4. Decide whether to go long or go short
CFDs allow you to predict price moves in either direction, by buying (going ‘long’) or selling (short) an asset. It also means that you can take advantage of the way the price fluctuates by buying and selling regularly. Use your analysis, along with the latest news and your view of the overall market, to help you choose which approach to take each time.
Step 5. Make the trade
The final step is to search for XTZ when you’re logged into your broker account. You’ll be presented with a fixed buy and sell price that you can use to make the trade instantly. Just choose how much money you want to spend and then execute the trade.
Should I invest in Tezos?
Tezos is a similar platform to Ethereum, so it could be an interesting pivot away from one of the largest names in the cryptocurrency space. It’s much less expensive than its better-known competitor, although there are lots of other similar cryptos battling for attention as well.
The Tezos platform has some unique features but it has also had a few issues in the past. There have been battles over intellectual property rights that delayed the launch of the platform in 2018, and a couple of legal issues as well.
It’s certainly a coin you should take time to research because of those issues. But they don’t necessarily mean that you shouldn’t invest, while the launch was initially delayed, Tezos has been live for a few years now without encountering any more problems.
To help you come to a final decision about whether Tezos is for you, we’ve summarised all the things you should be aware of before you put money into the platform. After that, you can find a few more pointers about the future.
- Tezos has partnered with Societe Generale, a leading French bank
- You can use your coins to earn rewards and shape the future of the platform
- The Tezos blockchain is much more advanced than most developer platforms
Here are three more questions for you to consider before you invest in Tezos.
1. Is now a good time to buy Tezos?
That depends on whether you plan to hold it for the long term, or want to use it for short term speculation. If it’s the former, then think about how the whole cryptocurrency market is doing, because coins like this can get swept along with it. It’s often best to wait for a settled period if you want to buy and hold a coin.
It’s a slightly different situation if you want to trade it quickly. Then, volatility can work in your favour because it provides more opportunities to buy and sell. The exact timing of your moves should be dictated by your own analysis, or you can use our team’s work to help you.
2. What problem does Tezos solve, and what are its investment prospects?
Tezos is built to be future proof and it can constantly update itself to adapt to advances in technology. That solves the problem of having to ‘fork’, which essentially means having to create a new code to run the cryptocurrency, in order to update.
Alongside that technology, it offers developers the ability to build applications on a blockchain platform. This is what Ethereum does, along with cryptocurrencies like Polkadot and Cardano as well. The sheer volume of alternatives makes it difficult for one platform to become the leading challenger to Ethereum itself.
You should try to keep track of developments in all these different platforms if you want to invest in one for the long term. Signing up businesses to build on them is one positive indicator, and you can look out for things like that in the latest news below.
How will the ‘Tenderbake’ upgrade affect the value of the XTZ token?
Tezos (XTZ) maintains a bullish rally after double-digit gains in 24 hours
Misfits Gaming Group secures a multi-year deal with Tezos (XTZ)
3. Do you want to hold Tezos for the long term?
Sometimes that is the right policy, at other times it’s better to buy and sell it quickly to take advantage of swings in price. Below are some final thoughts to help you, whichever approach you choose to take.
Considerations for a long term investment strategy
To get and hold coins for the long term you should sign up to an exchange and use that to buy Tezos. Then think about getting a wallet to store them in.
Considerations for a short term trading strategy
A short term trading strategy is built on technical analysis. Learn how to read price charts and then sign up for a CFD broker with low trading fees to get the coins.
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