How to Buy Tezos (XTZ)

Tezos (XTZ) cryptocurrency ranks at 102 place by capitalization. It’s 14 July 2024 on $781,385,096 year. Circulating supply: 989,327,057. Maximum supply – N/A. The price of XTZ for today – $0.7902 with trading volume of $18,055,124 for 24 hours. The maximum price of Tezos was registered on 4 October 2021 year and was – $9.12. The lowest price of XTZ, $0.35048, was registered on 7 December 2018.
Tezos (XTZ)
$0.7902 +2.15% ↑
24h price change
$0.016939
Capitalization
$781,385,096
24h trading volume
$18,055,124
on the official website

How to Buy Tezos (XTZ) Price in USD: Convert to US Dollar

XTZ
TezosXTZTezos
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USD
US DollarUSDUS Dollar
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on the official website
Data updated 7/13/2024

    Tezos (XTZ) is a blockchain platform founded in 2017, and designed to create decentralized applications and smart contracts. One of the key features is the self-adaptation and self-updating mechanism, which makes Tezos one of the most flexible and resilient blockchains. This feature allows you to make updates without the need for a hard fork.

    The XTZ cryptocurrency transfer value within the network, and also serves as a tool for system management. XTZ owners can engage in staking – freezing their tokens to participate in the block creation process and vote on protocol update proposals. This allows them to earn income in the form of additional XTZ tokens.

    In this article, I will tell you about safe and effective way of buying Tezos cryptocurrency in 2024.

    What is Tezos (XTZ)?

    Tezos is the network’s native currency that performs a variety of functions:

    • Coins can be used as a reward for participants involved in the process of creating and approving new blocks, regardless of whether they are active participants or delegate their tokens;
    • XTZ also serves as a voting token in a decentralized governance system, allowing participants to influence the development and changes of the protocol;
    • Coins are used as the means of exchange, allowing users to transfer value within the network;
    • XTZ tokens are used to pay fees known as “gas”.
    The Tezos network uses a Liquid Proof-of-Stake (LPoS) consensus mechanism. It assumes that a randomly selected delegate creates new blocks, after which they are approved by another 32 randomly selected participants.

    Where to buy Tezos (XTZ)??

    To buy Tezos cryptocurrency and other digital assets, it is better to use crypto exchanges. Buying cryptocurrency on an exchange has a number of important advantages.

    First, exchanges provide access to liquidity, making it easy to find buyers or sellers of assets. This makes it easier to execute trades and reduces the risk of price fluctuations.

    Second, on the exchange you can choose from different trading pairs and payment methods, which provides flexibility in buying/selling methods.

    The third advantage is that exchanges offer infrastructure for storing and managing cryptocurrency assets, including crypto wallets.

    And finally, the most favorable rate is always available on exchanges.

    Exchange
    Website
    BTC trading volume, 24h
    1WhiteBIT
    WhiteBIT
    BTC trading volume, 24h
    36.47
    2HTX
    HTX
    BTC trading volume, 24h
    23.07
    3Binance
    Binance
    BTC trading volume, 24h
    17.14
    4OKX
    OKX
    BTC trading volume, 24h
    12.14
    5Bybit
    Bybit
    BTC trading volume, 24h
    1.571

    Tezos step-by-step buying guide

    Since investing in cryptocurrencies involves high financial risks, you need to carefully assess your readiness for them. After this, you should choose a reliable trading platform, register and make a coin purchase. Next, I will show each of these stages in detail.

    1. Assess the personal level of risk

    Before purchasing XTZ, it is recommended to develop an investment planthat includes loss limits and price targets for buying and selling the coin. Also follow the basic rules of investing: invest only funds you are ready to lose, avoid concentrating all your funds in one coin, and diversify your portfolio.

    2. Choose a crypto exchange

    Choosing a reliable cryptocurrency exchange plays an important role in successful investments. When evaluating a trading platform, it is worth considering user-friendliness, high liquidity, availability of the necessary trading pairs, and security. I also recommend paying attention to commissions (trading and withdrawal), available methods of replenishing your account, opportunities for additional earnings, as well as users’ reviews.

    As a reliable option, I recommend considering the Bybit platform.

    3. Create your account

    Registering an account on the Bybit exchange includes the following steps:

    1. Go to the official Bybit website: https://www.bybit.com/;
    2. Find the Sign Up button on the main page and click on it;
      How to buy Tezos (XTZ
      Registration
    3. Enter your email address or phone number;
    4. Create a strong password;
    5. Read the terms and conditions of use of the Bybit exchange and confirm your agreement;
    6. Click Create Account;
      Registration by email
      Registration by email
    7. After entering the data, you will be sent a confirmation letter to the email address you specified: follow the link in the letter to verify the address;
    8. Phone Verification (Optional): You may be asked to verify your phone number for added security (optional). Follow the system’s instructions if you decide to do so;
    9. After successful registration, you will be able to log into your account using the email address and password you provided during registration.
    Remember to enable two-factor authentication (2FA) to enhance the security of your account.

    4. Top up your account

    Funding your account on the Bybit exchange includes the following steps:

    1. Login to your account on the Bybit exchange;
    2. Find the Deposit section in the top menu, and click on it;
      find the Deposit section
      Deposit menu
    3. Select an account to top up. You can purchase XTZ on the spot market, so we select Spot;
      Replenishment of spot balance
      Replenishment of spot balance
    4. Select the coin to deposit on the balance page, On Bybit, the XTZ cryptocurrency is traded in pairs with USDT. So select Tether USDT and click Deposit;
      Deposit in USDT
      Deposit in USDT
    5. Specify the network for the transfer, for example, ERC20;
    6. You will be given an exchange wallet address to which you must send the selected cryptocurrency. Copy this address;
    7. Open your external wallet with the chosen coin (USDT in the example) and send it to the address copied from the Bybit exchange;
    8. After sending coins, wait for the transaction to be confirmed (the time depends on the blockchain network you are using);
    9. Once the transaction is confirmed, return to the exchange and check your balance: the USDT deposit will be reflected in your account.

    5. Buy Tezos (XTZ)

    The proccess of buying Tezos cryptocurrency consists of the following steps:

    1. Select Trade → Spot Trading in the main menu;
      Spot trading on Bybit
      Spot trading menu on Bybit
    2. Find the XTZ/USDT trading pair;
    3. Create a buy order: enter the amount of XTZ you want to buy and set the price you want to trade at (Limit). You can also use a Market order to buy at the current market price (Market);
    4. Check your order and confirm it by clicking Buy XTZ;
      Purchase of XTZ on the Bybit spot market
      Buying XTZ on the Bybit spot market
    5. After the order is confirmed, wait for the transaction to be executed. XTZ coins will be credited to your exchange account.

    How to sell Tezos?

    To sell XTZ, follow the same steps as when buying, then click the red Sell XTZ button on the right side of the screen.

    Selling XTZ on the Bybit spot market
    Selling XTZ on the Bybit spot market

    How to store Tezos (XTZ)?

    To ensure safe storage, it is recommended to transfer your XTZ from the exchange to your own cryptocurrency wallet.

    When deciding on a wallet to store XTZ, it is important to consider how you plan to use your assets. Choose hot wallets for frequent use of coins and trading, and cold wallets for long-term storage and security.

    Popular solutions for storing Tezos cryptocurrency:

    • Trust Wallet is a “hot” crypto wallet for mobile devices that allows users to safely store, send and receive various cryptocurrencies;
    • Exodus is a multi-currency crypto wallet with an intuitive user interface that provides features for securely storing and trading Tezos and other digital assets;
    • Ledger Nano S and Ledger Nano X: Tezos-enabled hardware wallets that provide a high level of security for storing cryptocurrency.
    Read also: Best crypto wallets.

    How to withdraw Tezos to my wallet?

    To withdraw Tezos cryptocurrency (XTZ) from the Bybit exchange to your Trust Wallet, follow these steps:

    1. Login to your account on the Bybit exchange;
    2. Find the Assets section on the main page of the exchange;
    3. Select the Withdraw option;
      Conclusion
      Withdrawal
    4. Click on Withdraw in the spot balance line to begin the Tezos withdrawal process;
      Withdrawal of Tezos from spot balance
      Withdraw Tezos from spot balance
    5. Specify XTZ in the Coin line, and select the XTZ network in the Chain Type line. The Wallet Address line is used to enter the address of the wallet;
      Output form
      Withdrawal form
    6. Specify the Trust Wallet address: launch the Trust Wallet application on your mobile device and press the Receive button on the main screen of the application;
      Receiving coins
      Receiving coins
    7. Enter XTZ in the search bar (note that the network in wallet matches the one you selected on the exchange);
    8. The system will automatically create an transaction address (you can also use QR-code);
      Address for XTZ transfer
      Address for transfer XTZ
    9. Copy this address and paste it into the appropriate field on the withdrawal page on the Bybit exchange, then complete the transaction.

    FAQ

    What is Tezos (XTZ)?
    XTZ is the native currency of the Tezos blockchain platform, designed for creation and execution of smart contracts and decentralized applications (DApps). The coin is used for transactions, allows holders to vote on various proposals and protocol changes and earn money by staking.
    Where can I buy Tezos crypto?

    1. Сhoose the cryptocurrency exchange;
    2. Register on the platform by creating an account;
    3. Replenish your balance by depositing funds on the exchange;
    4. Go to the spot trading section and find the currency pair with XTZ (for example, XTZ/USDT);
    5. Place an order to purchase coins;
    6. Click on the Buy XTZ button.

    Is it worth buying Tezos now?
    The Tezos (XTZ) project has significant potential associated with a number of features: the possibility to create smart contracts and decentralized applications (DApps), the possibility to self-update through the Liquid Proof-of-Stake (LPoS) consensus mechanism, an active community, establishing partnerships and integrations with other blockchain projects, which can expand the functionality of the platform and attract new users.

    However, it is worth remembering that investing in cryptocurrencies always involves risks. High market volatility, regulatory changes and technical problems may affect the XTZ exchange rate and the development of the project. Therefore, it is important to do your own research and invest only those funds that you can аfford losing.

    What wallet stores Tezos (XTZ)?
    Choosing a wallet to store Tezos (XTZ) depends on your preferences for security and ease of use. For example, Trust Wallet is suitable for everyday transactions with cryptocurrency: the wallet is presented in the form of a convenient mobile application, available for iOS and Android. Ledger Nano S and Ledger Nano X are hardware wallets and provide offline storage. Such wallets are considered one of the safest ways to store XTZ and other cryptocurrencies.
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    Agatha Redich
    Agatha Redich
    Articles author, editor
    Articles author and website editor. Works with texts for over 12 years. Among Agatha’s clients: Rossman, Zara, Bosch, ING Bank, Lexus and others. Crypto journalist since 2018. She wrote more than a hundred articles about cryptocurrencies and the crypto market. Agatha's professional credo is to reveal complex topics in an accessible and simple way.
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    Emil Rabin
    Emil Rabin
    Site expert
    Cryptocurrency expert and financial analyst. Emil has working experience in Bain and KPMG, collaborated with PayPal and Revolut, organized more than 30 educational events about blockchain and cryptocurrencies in Eastern Europe. An expert of the TGDRatings.com portal since 2022.
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