Like Ethereum, Tezos is a blockchain platform aimed at facilitating smart contracts. However, the Tezos network differs from other blockchain networks. Tezos users can vote on the development of the network through an extensive governance system. On this page, you can read a short introduction to Tezos and learn more about buying and selling Tezos.
Tezos was launched in September 2018 after raising more than $232 million during its Initial Coin Offering (ICO). The launch of Tezos wasn't a very smooth one, however. Behind the scenes, there were a lot of conflicts between the team members. As a result, the launch date was postponed several times.
Tezos is a network on which smart contracts can be stored and executed. These are contracts that can no longer be modified once they have been placed on the blockchain. This is similar to Ethereum, but Tezos aims to put the development of the network in the hands of the community. This looks something like this:
• Developers submit proposals for Tezos upgrades and ask for compensation for their work
• The submitted proposals will be tested by the community
• People with Tezos in their wallets can vote for proposals they consider best
• The protocol is then implemented to the protocol in which the winning proposal is integrated. This ensures that no soft or hard forks are needed.
Buy Tezos (XTZ) safely and easily via Knaken+
To participate in this voting system you must first own Tezos. Tezos, XTZ for short, can be bought through most major cryptocurrency exchanges. These are Binance, Coinbase, and Kraken.
In addition, there are a lot of over-the-counter (OTC) platforms that offer Tezos. Here you can buy Tezos after which it will be deposited directly into your own wallet. Having your own wallet is always recommended, as you can read later on this page.
Sell Tezos (XTZ) safely and easily via Knaken+
You can often sell Tezos on the same platform where you bought the altcoin. Usually, you get the most for your Tezos when you sell your XTZ through exchanges. However, you may prefer to sell your Tezos through an OTC platform. Properly research the party you want to sell your Tezos to, because scams are common in the crypto world.
Knaken helps you buy or sell Tezos safely and easily. It doesn't matter if you are a beginner or a veteran. These three simple steps apply to everyone.
• Select your cryptocurrency
• Pay via payment methods such as IDEAL.
• Receive and manage your crypto in your Knaken dashboard or your own wallet.
Why do people buy or sell Tezos?+
If you find the Tezos project interesting and would you like to participate in the voting rounds, then it is a good idea to buy Tezos. An additional advantage is that you can stake your Tezos, which means that you get a small reward when you lock your Tezos to vote with it. You can see this as a kind of interest for your participation in developing the network.
You can of course also actively trade with Tezos to earn money. There are a lot of risks involved with this so be careful. The Tezos price can suddenly drop significantly, meaning you see sudden drops in the value of your investment. Of course, this also applies to the upside, the price can also suddenly rise significantly.
Why choose Knaken?+
• Safe & Easy
• No extra costs
• Manage crypto via your Knaken Dashboard or your wallet
• Knaken has its own exchange
Important tips when buying / selling Tezos+
If you buy Tezos via an exchange, keep in mind that staking is not always possible via these platforms. So make sure you have a good and safe Tezos wallet that supports staking.
A hardware wallet is the safest option. You can see it as a USB stick that is not connected to the internet on which you can securely store your Tezos. If you have a large amount in Tezos on your exchange account, send it to a secure wallet of which you have access to the private key. This way you can be sure that you will not lose your Tezos due to the bankruptcy of an exchange, for example.
Do you want to buy Tezos through an OTC platform? First, properly research the company you are considering buying Tezos from. Search for reviews on the internet and ask about other people's experiences. Logical thinking often comes in handy; if a website looks suspicious you need to be extra careful.
Only put money in Tezos that you can really miss. While there are many stories of crypto investors who have become millionaires, there are also plenty of stories of investors who have lost a lot of money. So think wisely how much you want to put in!