In 2017, the Tezos ecosystem entered the market, offering all the functionality of Ethereum, with more advanced security. Find out what kind of project it is, what are its prospects in 2021, whether it is worth investing in XTZ, and most importantly how to do it safely, quickly, and easily.
What is Tezos (XTZ)?
Tezos (XTZ) – is a blockchain network for launching decentralized applications and executing smart contracts. Access to the program code of the system is open and each user can participate in the modernization of the system. The key feature of the project is that its multi-stage architecture allows you to update the network without hard forks.
The Tezos team has developed a new Michelson programming language designed to carry out formal verification of the protocol. In fact, with the help of this innovation, Tezos eliminates errors that theoretically can occur in other cryptocurrencies operating on the basis of smart contracts. Tezos uses a Proof-of-Stake consensus mechanism. Stakeholders can participate in the protection of the network by “baking” new blocks or delegating their rights to other “bakers”, while avoiding coin inflation. The development was carried out in the Ocaml programming language, known for the reliability and security of solutions made on it.
Why should I exchange Tezos?
XTZ is an excellent long-term investment, for the following reasons:
- Taking into account the fact that the possibility of a hard fork of this currency is excluded, it will be easier for analysts to predict the exchange rate fluctuations of XTZ, which makes this asset an interesting investment tool.
- Despite the fact that Tezos’ competitors are such giants as Ethereum, Cardano, and others, the platform successfully continues its activities and has a number of advantages that attract investments from world-famous companies.
As of August 15, 2021, the value of the XTZ coin is $3.60, and the market capitalization of the project is $3,082,574,450. The minimum price of the asset as of December 8, 2018 was $0.3146. The maximum price on May 7, 2021 was $8.40.
Where to trade Tezos?
If you decide to trade XTZ then the best platforms for this are:
- Binance – the world leader of crypto exchanges, provides high liquidity, low fees, as well as a wide range of trading tools for advanced trading.
Coins: more than 350.
- OKEx – an exchange has an excellent reputation and increased security, provides a deposit without a fee, and many trading tools.
Coins: more than 250.
- 7b – a reliable crypto broker with impeccable security, provides increased convenience for trading more than 300 cryptocurrencies.
Coins: more than 350.
How to exchange Tezos using the 7b crypto broker app
Using a 7b crypto broker is the most secure, simple, and convenient way to trade XTZ. The platform is especially suitable for novice traders who find it difficult to understand all the functionality of crypto exchanges. After all, all that is necessary for trading XTZ is:
- Install the 7b app on your smartphone.
- Create an account.
- Deposit cryptocurrency for trading.
- Select a trading pair.
- Enter the desired amount.
- Place a market order.
Tezos Exchange
Where to exchange XTZ?
The most convenient services for XTZ exchange are brokers and swap platforms. The exchange procedure is extremely fast and simple, thanks to the intuitive interface of such sites. What should I choose? Decide after a brief overview of the advantages and disadvantages:
Broker:
| Advantages | Disadvantages |
| Guarantees security | The cryptocurrency will be credited into your account |
| No upper limits | |
| A wide selection of exchange pairs |
Swap platform:
| Advantages | Disadvantages |
| Guarantees anonymity | Can set upper limits |
| Non-custodial service | |
| Provides a possibility of exchange at a fixed rate |
There are many exchange platforms on the crypto market where you can easily swap XTZ, the list of the most popular ones includes:
- SimpleSwap – a secure service for exchanging more than 300 cryptocurrencies at a fixed or floating rate.
Fee: everything is included in the exchange rate.
- Changelly – a reliable platform for exchanging more than 170 cryptocurrencies. Floating and fixed exchange rates are available for XTZ.
Fee: 0.25%.
- LetsExchange – a popular platform that provides more than 200 coins for exchange. There is also a fixed and floating exchange rate.
Fee: included in the transaction amount.
What to know before exchanging Tezos?
Having a huge selection of exchange platforms entails both advantages and disadvantages, especially for an inexperienced trader. What can you do to protect your funds? The 7b team recommends you to perform the following actions:
- Compare the exchange rate and fees of different services. However, do not be fooled by too low fees, as this may be a sign of fraud.
- Study user reviews about the platform.
- Take the time to double-check the recipient’s address.
How to buy Tezos?
To date, the cryptocurrency business is actively growing and developing, and therefore you may wonder how to buy XTZ for fiat. There are several ways to exchange your fiat money for XTZ. The simplest and most convenient is the exchange of fiat for cryptocurrency through an exchanger with the support of a fiat gateway. You can choose one based on the following criteria: security, the amount of the fee, available payment methods, and available currencies.
Instruction on buying XTZ
Buying XTZ for the first time might a bit complicated for a beginner. That is why we have composed a step-by-step instruction so that you could buy XTZ without any problems:
Step 1. Sign up to a service providing trading or exchanging
Step 2. Deposit your account with BTC or ETH
Step 3. Find XTZ/BTC or XTZ/ETH trading pair
Step 4. Enter the necessary sum
Step 5. Confirm the transaction
Where to buy XTZ?
Choosing a trustworthy platform might be even more complicated. To avoid scam and fraud, use platforms with a significant amount of reviews and good reputation, such as:
- Kraken – an exchange with an ideal reputation in security issues. There are many tools and features available on the platform. However, the platform’s interface is often called complex and old-school.
- Gate.io – attracts the attention of traders with a high level of security and clear interface, as well as a fast speed of deposit and withdrawal of funds.
What is the best time to buy XTZ
According to the most analytical reviews, the best time to buy XTZ is now. Thought the price fluctuations might occur from time to time, the general trend is upwards.
However it is only up to you to decide, while the information above should not be mentioned as a financial advice.
How to sell Tezos
Selling XTZ does not differ much from buying it, however, to avoid mistakes follow this instruction to sell XTZ:
Step 1. Login the exchange platform you use
Step 2. Find XTZ/BTC or XTZ/ETH trading pair
Step 3. Enter the necessary sum
Step 4. Confirm the operation
Step 5. Exchange BTC or ETH to fiat (Optional)
What to know before buying XTZ
Before buying XTZ acknowledge yourself with some helpful tips, which might save your funds:
- Keep your XTZ either on hot or cold wallet. It guarantees the safety of your funds.
- Stay calm when the prices go up and down – the volatile nature of cryptocurrency causes huge price fluctuations, however it does not mean you should buy and sell hundreds of times a day.
- Never entrust your funds to dubious services, while some of them might eventually turn out to be scam or fraud.
Tezos token use cases
XTZ is a native coin of the Tezos project, which has the following use cases:
- As a means of payment for the use of the platform’s functionality: smart contracts, non-interchangeable tokens, decentralized applications, and more.
- XTZ token holders have the right to participate in the confirmation of transactions on the network and receive a reward for this. In addition, stakeholders can participate in the modernization of the network by proposing or approving edits.
FAQ
Is Tezos a good investment?
Yes, the concept of the network, the uniqueness of its solution and other characteristics make it attractive for companies and investors. The fact that the hard fork of the network is excluded allows us to more confidently predict the value of XTZ in the future, which again speaks in favor of investing. According to the forecast of DigitalCoin, the price of XTZ will only grow, so the coin is great for long-term investment.
How do I invest in Tezos?
Before investing in XTZ, decide on the amount. The forecasts for growth are positive, however, this may not happen immediately. Make sure that you will not need funds that you have invested in the near future. To buy XTZ for 7b: deposit cryptocurrency, select XTZ, enter the amount, confirm the transaction.
How to trade XTZ for beginners?
Remember that trading is a job that can bring both huge profits and huge losses. Therefore, it is important for novice traders not to give into emotions and not to invest more than 30% of their free funds in trading. 7b broker is great for beginners: create an account, fill in your balance, select a trading pair, enter the amount, and click “Buy”.
What is Tezos Blockchain?
Tezos is a blockchain project designed to launch decentralized applications based on smart contracts. Smart contracts in Tezos are run in the Michelson programming language, which ensures security. In addition, the main advantage of the project is the exclusion of the possibility of a hard fork.
