Table of Contents
1. Choose a crypto exchange
First things first, you need an exchange that both has Tezos, and is trustworthy!
You can find our top 3 exchanges for buying Tezos here, alternatively you can also check our comparison of the best crypto trading platforms in Australia if you’re generally interested in seeing which exchanges work for Australians.
2. Sign up with the crypto exchange
Once you’ve chosen your crypto exchange, it’s just a matter of signing up and getting your account verified. Most exchanges have streamlined this process very well so it shouldn’t take long.
3. Fund your account
The next step is to transfer AUD or another cryptocurrency into your account. Most top crypto exchanges offer various payment methods. From bank transfer to PayID, POLi pay and credit cards, it’s very straightforward.
4. Buy Tezos
And of course, the final step is to find Tezos on the exchange and buy it. A lot of exchanges offer different ways of buying cryptocurrencies, like market orders and limit orders.
Where to Buy Tezos (XTZ)
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How to Sell Tezos
- Sign into the exchange
- Find where you stored your Tezos, either on a hardware wallet or on the exchange.
- Transfer your Tezos to the right place on the exchange, it could just be the same wallet or a dedicated trading account.
- Sell Tezos.
Considerations when looking to buy Tezos.
Tezos, a blockchain network based on smart contract technology, is not too different from Ethereum. There is a major difference. Tezos wants to provide infrastructure that is more advanced. This means it can grow and improve over time, without ever having to worry about a hard fork. This is something both Bitcoin and Ethereum have experienced since their creation. XTZ holders can vote on the Tezos developers' proposals for protocol upgrade.
Open-source platform Tezos claims it is "secure, upgradeable and built to endure" and that its smart contract language ensures high-value use cases. Tezos claims that its approach is futureproof, and will "remain state of the art long into the future," which means it can take advantage of developments in blockchain technology.
Tezos' technology was first presented in a whitepaper that was published in September 2014. The Tezos mainnet was launched four years later, after a series delays.
Tezos offers a unique way to stake XTZ. Although this is a common practice across all blockchains, it's not the only one. Participants can participate in the governance of the network by "baking," which allows them to stake 8,000 XTZ. This provides a financial incentive for honest behavior.
The four-step process takes around 23 days and involves the voting of proposed changes to blockchain's code by Bakers. If backed by a supermajority, proposals that have received support from the majority of participants will be put through their paces for 48 hours on a testnet.
Tezos is unique in that it has been used by prominent businesses. Societe Generale, a French bank giant, announced in September 2020 that it would use the blockchain to experiment with a digital currency central bank.
Coinbase and Binance, two of the largest cryptocurrency exchanges, have announced support for Tezos staking. Users can earn rewards based upon how many XTZ they own. This feature isn't common across digital assets.