How to get Tezos (XTZ) in 2023?
Digital assets are viewed as a potentially profitable investment and speculative trading tool. The cryptocurrency market has a rich selection of relatively affordable coins with good growth potential.
What is Tezos
Tezos is a native token of the decentralized computing platform of the same name. The project has been in development since 2011 but was launched only in 2018.
The Tezos blockchain was created from scratch based on its own unique code. This is not a fork or a second-layer solution of any existing blockchain. The developers set themselves the task of creating a simple chain that can become the basis for innovative solutions and at the same time eliminate the risks of hard forks. The platform is adapted to accommodate smart contracts, which gives reason to consider it another of Ethereum’s competitors.
The blockchain provides rewards for participating in maintaining consensus. In addition, coin holders can take an active part in the management of the blockchain and improve it.
How the Tezos platform works
The Tezos blockchain is designed to host decentralized applications and smart contracts. This floating platform is open source, that is, any user of the platform can take part in improving the system.
Tezos has a multi-stage architecture. This solution simplifies network upgrades without the need for hard forks.
The system consists of three functional elements:
- Network module.
- Transaction module.
- Consensus module.
The Tezos code is written in the Ocaml language, which makes it possible to independently update each of the protocol layers and the entire system as a whole.
Tezos coin (XTZ)
The coin was launched in 2014. The starting price during the ICO was about $ 0.47. The path to fame of the coin stretched for several years. The XTZ price has broken the dollar barrier, but the dramatic moves have come amid the largest bull rally in the history of the cryptocurrency market. In January 2018, XTZ reached an all-time high of $ 12.19, but quickly fell and traded close to $ 0.4 at the end of 2018.
2021 was a good year for many altcoins and XTZ partially recovered its positions. In October, the price reached a local maximum of just above $ 8, but analysts’ optimistic forecasts did not come true. The year-end was closed at $ 4.3. Yet the coin is seen as a potentially profitable investment.
Where to buy XTZ
XTZ is a relatively rare coin, trading pairs with it are supported by several dozen major cryptocurrency exchanges, in particular Huobi Global, Coinbase Pro, Bitfinex, Kraken, Binance.
Here you can buy Tezos for fiat or cryptocurrency, as well as exchange XTZ to BTC. To buy XTZ, you need to choose the site with the most suitable conditions. Please note that reputable exchanges comply with KYC and AML requirements, so you need to create an account and verify your identity.
After successfully completing the necessary formalities, you can replenish the deposit and buy the coin you need. If you are considering XTZ as a means of long-term investment, it is advisable to withdraw the coins to an OTC wallet.
Please note that all or nearly all transactions on traditional exchanges are subject to fees.
Alternative to traditional sites
On large traditional platforms, the number of trading pairs with Tezos is limited. Finding a platform where a direct exchange of XTZ for other cryptocurrencies is possible, but is laborious and risky. There is no guarantee that the new little-known exchange will not turn out to be another scam.
It is much safer to use LetsExchange services. Letsexchange.io – instant crypto exchange, where registration and account verification are not required. LetsExchange does not store your coins and the risk of theft of your funds is reduced to zero.
To buy XTZ for any cryptocurrency, you just need to fill in the exchange widget:
- In the upper field, select the name of the coin for sale and indicate the amount of the transaction.
- In the bottom field, select the XTZ to buy.
- Enter your wallet address.
- Make a deposit.
- Press the “Exchange” button.
The search and comparison of the available offers are performed automatically and in the end, the system will offer you the best deal. After confirming the exchange request, the transaction is automatically completed and the purchased coins are credited to your wallet. This is a loan you have for several tens of seconds.
The exchange of 300+ coins and tokens is available on LetsExchange. It is very simple, fast, and secure.
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