Buy Tezos (XTZ) with Credit or Debit Card with Lowest Fees

What is Tezos blockchain?

In its position paper, Tezos describes itself as a self-amending crypto-ledger. Why use the term "self-amending?" The project aims to tackle the issue of blockchain upgradability and evolution, having witnessed the difficulty experienced by Bitcoin stakeholders to reach a consensus on new changes. For instance, this has been the reason for the emergence of many alt-coins from Bitcoin, such as Litecoin.

Tezos identifies coordination issues as the main impediment to blockchain evolution. It solves the coordination problem by proposing a four-step on-chain governance procedure that allows stakeholders to collaborate on changes to the Tezos protocol. For instance, new protocol changes are proposed, then staged in a testing environment for stakeholders to identify any issues. The new changes are promoted and implemented after a high threshold of confirmation.

Who created the Tezos network?

Arthur Breitman and his wife, Kathleen, are credited with proposing Tezos in 2014. At the time, Arthur worked for Morgan Stanley and released two white papers proposing the idea under a pseudonym. The founders were motivated by inherent challenges in Bitcoin, including its energy-intensive consensus mechanism, lack of smart contract support, and coordination issues that had resulted in hard forks. They also wanted to build on the new innovations of Ethereum. It would take nearly four years before the project officially went live in September 2018. Delays were occasioned by significant legal issues and internal conflicts between the founders and Johann Gevers —who had created the Swiss-based Tezos foundation in 2017 and helped raise nearly $232 million in an ICO.

Advantages and disadvantages of Tezos

Tezos has garnered interest in the cryptocurrency world for offering the following advantages:

• Its proof-of-stake mechanism doesn't require stakeholders to freeze or lock in their tez.  
• The network runs on the proof of stake consensus mechanism viewed as more environmentally friendly and scalable;
• The in-protocol amendment process has allowed the smooth implementation of technical upgrades;
• It's well adapted to running smart contracts, and apps have to pass the formal verification that guarantees a higher level of safety.

The project still has some issues and challenges:

• While the ecosystem has a growing collection of DeFi projects, few have high market caps resulting in a lower TVL compared to chains such as Ethereum;
• The network is under threat by new ecosystems promising even better solutions, for instance, DAG-based crypto ledgers with feeless transactions;
• The number of substantive real-world use cases for the technology is still low, outside running smart contracts and facilitating transactions, which most blockchains do.

Tezos smart contracts

Like Ethereum, Tezos developers can create smart contracts using Mitchelson, its own smart contract language built with formal verification in place. That means that developers have to mathematically prove that their code works. It is an extra security measure to have in place, particularly in developing sensitive decentralized finance apps, where a single bug in the code may bring the entire project down or expose users to hacking risks.

Tezos similarly runs on a proof of stake consensus mechanism that is less energy-intensive than proof of work, where miners solve ever-complex mathematical algorithms to validate new blocks requiring a lot of electricity and computing power. Baking is the process of creating new blocks in Tezos, and block producers are referred to as bakers. An independent baker node requires at least 8,000 tez (1 roll) to participate in block verification and production. In return for supporting the network, bakers earn rewards.

FAQ

Why buy Tezos?

Investors choose Tezos for the following reasons:

• Designed to easily evolve: While some projects have been hindered by internal disagreements, Tezos is designed to easily upgrade, making it flexible to change.
• Powering the Web3 revolution: Tezos is committed to building the next iteration of the internet that is censorship resistant, user-owned, permissionless, and accessible to all.
• Maximum user participation: The project gained popularity for its underlying mechanisms that ensure community governance and participation.

Is Tezos a good investment?

Investors looking to purchase XTZ are mostly interested in discovering if the price may increase in the future to make the investment worthwhile. Tezo has had good runs in the past, for instance, the price reached an all-time high of $8.7 on 3rd October 2021. Tezos' price fell in 2022 during the crypto crash that affected all other major cryptos. For instance, the price on 18th June 2022 was $1.28. Investors are mostly optimistic that the price could increase soon, but it's still hard to tell as crypto assets are inherently volatile.

Is Tezos reliable?

Tezos has demonstrated its reliability after operating for several years. The project also made headlines when its ICO raised $232 million in 2017.  Other factors that enhance the reliability of Tezos coins include:

• Utility uses: XTX has a strong use case. dApps use it to pay for gas fees. It helps secure the network through staking.
• A growing ecosystem of projects: The Tezos blockchain hosts over 90 projects in categories such as NFTs,  stablecoins,  gaming, digital identity oracles, and decentralized finance.

What transaction fees does Tezos have?

Users pay network processing fees for confirmation of transactions on the blockchain, but the gas fees are cheaper compared to Ethereum. Platforms that facilitate staking or Tezos purchases may have other commission fees.

Where can I store Tezos tokens?

After the purchase, you can store Tezos tokens on the following wallets:

• Web options - Temple and Kukai.
• Mobile (IOS & Android) - Airgap, Trust, &ZenGo.
• Desktop (Windows & macOS)  - Umami, Atomex

Can I buy Tezos with credit card?

Anyone can buy Tezos with credit card. The method supports instant processing of transactions. Note that the card has to be 3D secure, as the card provider may require the users to verify transactions, particularly with new vendors. There may be a KYC step, and it's important to provide details that match the card.

Can I buy Tezos with debit card?

Yes, it’s one of the most popular payment methods. It can even have some unforeseen advantages, for instance, users don’t accrue extra debt compared to using credit cards. The card also needs to be 3D secure in case the bank wants to verify the transaction. Start buying xtz with Changelly, because we provide a reliable and secure service.

Can I use a prepaid card to buy Tezos?

Yes, the transaction is processed in the same manner as paying with a credit or debit card. Users can buy a prepaid card with cash, and they don’t need to have bank accounts. The payment method tends to be relatively safer, as it’s not directly linked to the person’s account.

Can I buy Tezos with a bank transfer?

Buying Tezos with bank transfers is possible. Our third-party partners support various bank transfer methods, including:

• SWIFT
• SEPA (Single Euro Payments Area)
• Instant banking methods, e.g., Interact

The method attracts lower processing fees but takes a bit longer to confirm (between 1 to 3 business days).

Can I buy Tezos by App?

Download the Changelly app, and use it to make safe purchases for Tezos using a wide range of payment methods. The app is available on iOS and Android. It’s free to download and has a 4.5+ rating on both stores. Our website also provides an APK link for direct downloads for Android devices.

Can I purchase Tezos (XTZ) with Paypal?

It's a bit challenging to buy XTZ with PayPal. Even though we don't support this payment method, you can buy crypto on Changelly through numerous other methods, which are secure and take only a few steps.

How quickly will I receive Tezos after purchase?

Under normal market conditions, customers receive the tokens in their wallets within 5 to 30 minutes. The network itself generates new blocks in about 60 seconds with plans to reduce this to 30 seconds, which will even make transactions faster. In case of any significant delays, reach out to the Changelly support team to have any questions answered.

Can I buy Tezos with fiat currencies?

Of course. Changelly makes buying crypto, including Tezos, an easy process. The fiat transactions are processed by third-party payment providers. Use over 100 local currencies and any conversions to USD or Euro are handled automatically. But to save on any conversion losses, use bank cards in these base currencies.

Can I sell Tezos for USD?

Holders can sell Tezos for USD and other fiat currencies. They can cash out on a platform with a Sell feature or individually sell the tokens on a peer-to-peer platform. Because Tezos is not as popular as other projects such as Ethereum, it may be necessary to first exchange the token to other cryptocurrencies  that are easier to cash out such as BTC and stablecoins.

Can I Stake my Tezos tokens?

Staking Tezos tokens is possible as the network utilizes the proof of stake consensus mechanism and doesn't have a hard cap, allowing the creation of new tokens issued to bakers. It may be necessary to use a wallet with a staking feature when participating as an individual as there's a limit of 8,000 tez required to become a baker.

Can I trade with Tezos (XTZ) on crypto exchanges?

Yes, it's possible to trade with Tezos on cryptocurrency exchanges. Just find a platform with trading capabilities, such as Changelly Pro. Ensure that it offers different types of orders such as limit orders or market orders. It's similarly possible to trade XTZ for other cryptos. Changelly facilitates instant exchanges at fixed or variable rates.

Can I get Tezos for free?

Implement the following methods to acquire Tezos for free:

• Staking: Store tez in a Tezos wallet that supports staking, for instance, ledger and exodus.
• Get-paid-to sites: Complete simple activities on a trusted GPT site such as Idle-empire to earn points and redeem them for Tez.
• Tezos foundation faucet: The faucet issues about 0.1 Tezos every 10 seconds for testing and development purposes.