Tezos development began in 2014. In the summer of 2017, an ICO was conducted, during which they raised more than $230 million. In addition, hedge funds invested in the company. The founders of Tezos position the project as a new digital commonwealth. It is a new digital community where all token holders can confirm transactions together and receive rewards for it, manage the platform together, make decisions on its development together.
Tezos Basics Briefly
The founders of the Tezos platform are the American company DLS, which deals directly with the technical part (its leaders are the couple Arthur and Kathleen Breitman), as well as the Swiss non-profit fund Tezos Foundation, which controls finances, including funds raised during the ICO (its initial head was Johann Gevers).
Among Tezos investors and advisors are Polychain Capital, Zcash CEO Zico Wilkos, as well as the renowned billionaire and venture investor Tim Draper. By the way, it was Draper’s participation that attracted so much attention to the ICO of the project and made the campaign so successful.
|Circulating Supply / Total Supply||660,373,612 XTZ / 801,312,599 XTZ|
|ATH / ATL||$10.00 / $0.314631|
Troubles with Investors
According to the original plan, the main network was supposed to be launched by the end of 2017, and tokens would go on the exchange even earlier. When the fate of the project was in jeopardy, at least 3 class-action suits with fraud charges flew into her address. The main charges are a fraud in the offer and sale of securities, sale of unregistered securities, misleading advertising, fictitious obligations, and unfair competition.
Where to store Tezos (XTZ) cryptocurrency?
Before you purchase XTZ coins, you need to create a wallet in which they will be stored. Let’s sum up the best Tezos wallets.
- Tezbox is a crypto wallet available for macOS, Windows, Android, and as an extension for Google Chrome.
- Trust Wallet is a mobile crypto storage for iOS and Android.
- Kukai is a web wallet that allows you to create a new wallet or import an existing one.
- Galleon Wallet is an open-source wallet for Tezos that supports synchronization with both software and hardware wallets in eight languages on Mac, Windows, and Linux.
Is it worth investing in Tezos?
We think it’s worth it. Here are some of the benefits of the cryptocurrency:
- Fast and inexpensive transactions (including free, no commission).
- Good scalability.
- Convenient wallets.
- Strong community supporting cryptocurrency (developers, Tezos Foundation, Baking pools, forums).
- Modern DPoS algorithm (which is cooler than POW or POS).
- High chances of decentralizing the network.
Tezos (XTZ) Mining
XTZ token mining is not possible. In the Bitcoin network, new blocks are created by solving complex mathematical problems through the processing power of the equipment; in Tezos, the generation of blocks occurs thanks to “baking”.
The process is described below:
- The algorithm randomly selects the coins that will participate in the formation of blocks.
- Holders of selected coins a few weeks before participating in the generation of blocks receive a notification indicating the period during which they must make a deposit (its size depends on how many blocks a particular holder was assigned to create). In the White Paper of Tezos, this deposit is designated as a debt obligation.
- The deposit is frozen and thawed only if the “baker” works honestly after accruing the due reward in the form of new XTZs.
Buy Tezos on Exchange for Crypto
At first, you can always buy coins on the exchange for cryptocurrency. Several pairs are represented on cryptocurrency exchanges, including Bitcoin, Ethereum, USDT, and more. Here they are!
|Livecoin||•||•||Cryptocurrency, Payeer, Perfect Money, Qiwi|
|Kraken||•||Electronic Funds, Transfer, Bank transfer (SEPA), Wire transfer|
This is a great option if you already have cryptocurrency. If if you want to buy Tezos with another cryptocurrency, you can purchase it on exchanges.
Buy Tezos on Exchange for Fiat
There are several exchanges that offer XTZ coins for fiat. You can purchase Tezos coins for USD, EUR, CAD, and KRW. In order to buy the crypto, you should register on the website, make a fiat deposit, and exchange it on crypto.
|Kraken||•||•||•||Electronic Funds, Transfer,Bank transfer (SEPA),Wire transfer|
|Coinbase Pro||•||Bank transfer (ACH), Bank transfer (SEPA), Wire transfer|
Buy Tezos (XTZ) with a Credit Card on Changelly
Changelly platform offers you a way to buy XTZ with your banking card swiftly, safely, and with minimal authentication procedure. The fiat payment process is powered by our partner Indacoin and takes just a few simple steps to take.
The purchase option is open both via our website and the Exchange Widget that can be found at our partners’ resources.
You can also exchange any coins (represented on Changelly) to Tezos cryptocurrency. For instance,
- Exchange BTC to XTZ
- Exchange LTC to XTZ
- Exchange ETH to XTZ
You can explore the whole list of the supported cryptocurrencies here.
The daily trading volume for token trading is several million dollars. This is a fairly modest indicator when compared with the leaders of the cryptocurrency market. It is worth looking closely at the project, observing the information background. With a positive outcome of the litigation, the token may have a promising future.
Disclaimer: This article should not be considered as offering trading recommendations. The cryptocurrency market suffers from high volatility and occasional arbitrary movements. Any investor should research multiple viewpoints and be familiar with all local regulations before committing to an investment.