How to buy Tezos (XTZ) - Tutorial

Many see Tezos as a better ethereum. Tezos can already do many things that Ethereum wants to implement. We show you here where you can buy Tezos and what you have to consider. We also compare different providers.

The idea for Tezos dates back to 2014, when Kathleen and her husband Arthur Breitman published the position paper on Tezos in August 2014, and the white paper was published just one month later. Nevertheless, it still took until 2017 before the Initial Coin Offering (ICO) was carried out. Since then, Tezos has been a success story and investors have been able to multiply their investment many times over.

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With the Tezos ICO in 2017, the project was able to collect a total of 232 million US dollars. This is one of the highest amounts ever collected by an ICO to date. Despite the high amount, the ICO was several times oversubscribed. Investors in the ICO purchased XTZ tokens at the time. These cost 0.47 US dollars to the Tezos ICO. Since then the value has multiplied.

For many experts, Tezos is the better ethereum, because the protocol supports Smart Contracts and is Turing Complete, as well as relying on the environmentally friendly proof-of-state algorithm. Ethereum is currently still using the energy-intensive proof-of-work process and only plans to switch completely to proof-of-stake in the future.

Buy Tezos with Euro and other FIAT currencies - Summary

  1. 1. Register with eToro
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  1. 2. Verify Yourself on the Platform
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  1. 3. Deposit (at least $200) e.g. via PayPal, Credit Card or Wire Transfer
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  3. 4. Now you can buy XTZ directly

Tezos Buying Guide

Where can you buy XTZ?

 

Tezos (XTZ) are traded on crypto exchanges or also called Exchanges. The largest crypto exchange worldwide is Binance. It is important to know that most crypto exchanges do not support trading in Euro. You can buy and sell on exchanges like Binance therefore only Tezos against other crypto currencies.

So if you want to buy Tezos in Euro, you have to pay attention where you register because there are not many providers who trade Tezos in Euro or other Fiat currencies (e.g. US Dollar). In addition, the fees often differ dramatically. Therefore we present you here different crypto exchanges. But in the end it turned out to be the easiest and best for beginners to buy Tezos at eToro. Because there you have low fees and you can use different payment methods like PayPal, credit card, bank transfer and instant bank transfer.

How to Buy Tezos (XTZ)

The easiest way to buy Tezos (XTZ) is to go to eToro. There you can choose between different payment methods (PayPal, credit card and instant bank transfer) as well as an easy to use platform with German support. At eToro you can also buy real crypto currencies which you can also withdraw using the eToro wallet.

eToro, with its user-friendly design, is undoubtedly one of the easiest ways to get started in the Tezos trade. It is a platform with special value for all traders who want to buy or sell Tezos.

Buy cryptocurrencies with eToro in 3 easy steps

Step 1: Registration

To trade on eToro you first need to log in to the platform. But this can be done without any problems. All you have to do is enter your name, email address and a password. After that you will get access to the eToro dashboard.

As eToro crypto currencies are traded against Euro you also need to verify your identity on the platform.

Step 2: The verification

After opening an account you will also need to verify your identity with eToro. You will need to leave your personal information and upload a photo of your ID or passport. This process is required by European law for all platforms trading crypto currencies against Euro.

If you have provided all the information, the verification can still take a few days. It is advisable to make the deposit during this time, as you will be preferred during the verification process. But don’t worry, if something goes wrong during verification, you will get your money back. We have never experienced this kind of problem before.

As soon as the verification is complete you will be notified by email. If you have already made the deposit at this point, you can start trading immediately.

Step 3: Buy & Sell

Buying and selling tezos at eToro is then quite simple. All you have to do is select Tezos and click “Trade”.

A window will appear where you can buy Tezos. You just have to tell us how much Euro or US Dollar you want to invest in Tezos. Furthermore you have the possibility to set a stop loss, trade with a lever or enter a profit target.

With the Stop Loss you can determine at which loss your Tezos should be sold automatically, so that further losses can be reduced if the price falls strongly. We would not recommend trading with leverage because it is very risky and you do not buy Tezos, but a CFD for which you pay daily fees. Therefore the leverage should always be X1, then you buy real Tezos (XTZ). You do not need to specify the profit target, because you can always manually close the trade again if you have made enough profit.

Once you have entered everything, you only have to click on Buy. The trade will be executed immediately and in your portfolio you will see your new acquired Tezos.

Withdraw cryptocurrencies with the eToro Wallet

In 2018 eToro introduced the so-called eToro Wallet. This is available for both Android and iOS. Now you can also use it to withdraw your crypto credits from eToro. All you have to do is install the wallet on your smartphone. You can then login to the wallet with your normal eToro login.

What payment methods are available to buy Tezos

Buying XTZ - The Most Important Payment Methods

  • Credit Card
  • PayPal
  • Wire Transfer

Buy Tezos with Credit Card

 

Many investors like to buy crypto currencies by credit card. This is usually due to the fact that credit card payments are immediately available and the buyers do not have to wait until the deposit is there. As a result, credit card purchases are often faster than normal wire transfer payments.

Unfortunately, not all exchanges support credit card purchases or charge very high fees for them. This is different with eToro. You can simply top up your credit card balance and start trading immediately. So you can also buy tezos there immediately by credit card.

Buy XTZ with Paypal

 

Paypal has the advantage that you will be credited immediately and you have the buyer protection.

Only very few crypto exchanges allow you to buy crypto currencies via PayPal. You profit with PayPal particularly by the buyer protection. One exchange which I allow you to buy via PayPal is eToro.

You can simply fund your eToro account via PayPal and then you can start trading and buy Bitcoins. This makes eToro the big exception compared to other crypto exchanges.

Buy Tezos via Wire Transfer

 

Another way to deposit money into your account in order to buy cryptocurrencies is via wire transfer. You don't pay any fees in order to deposit money. However the disadvantage is that it can take up to 2 business days until your money is finally in your account. If you want to avoid that you can use Rapid Transfer for instant wire transfers. If you are using eToro you can choose if you want to do a regular wire transfer or a Rapid Transfer.

Should I buy Tezos now?

When exactly the best time to buy Tezos is, nobody can say for sure. The fact is, however, that the value of Tezos has increased significantly since the Initial Coin Offering 20017 and many experts agree that this is only the beginning.

Because Tezos is based on the Proof-of-Stake algorithm, you can increase your XTZ by simply holding Tezos and thereby earn interest on your credit. This process is normally called staking, but since Tezos is different, they call it baking. If you store your Tezos (XTZ) at one of the big crypto exchanges, the banking (staking) will be done for you automatically. So you don’t have to do anything else and the interest will be credited regularly. So it might be worthwhile to just keep XTZ.

Pro und Contra Tezos Investment

Store Tezos in your own wallet

 

After you bought your Tezos (XTZ) the question of storage arises. You can leave them at the stock exchange where they are relatively safe and the storage is free of charge or you can use one of the 3 types of storage: Paper Wallets, Software Wallets and Hardware Wallets. We have listed paper wallets and software wallets only for completeness. If you want to store your Tezos by yourself, you should use a hardware wallet in any case. This already makes sense even if you only have a few hundred Euros in Tezos.

With the so called Paper Wallets you simply write your private key on a piece of paper. With this private key you have access to your credits. If you lose the paper or it is stolen, your credit is gone. For normal investors Paper Wallets are not really practical.

Much better are the software wallets. You install it on your desktop computer or smartphone and can manage your assets. With a so-called recovery phrase (usually consisting of 24 words) you can restore your credit if you lose the device. If you want to use a software wallet, we recommend the Trust Wallet for the Smartphone. This is available for both iOS and Android.

The safest way to store your Tezos are Hardware Wallets. The market leader for hardware wallets is the French company Ledger. We recommend you to use either the Ledger Nano S or the Ledger Nano X. Your private keys always remain on the wallet and cannot be stolen. Even if you lose the hardware wallet, you can still recover the credit via the recovery phrase. Hardware Wallets are also easy to understand.

 

Ledger Nano X

Conclusion

 

With Tezos, there is currently an exciting technology that is technologically superior to competitors such as Ethereum in many respects. Investors even have the possibility to get interest only by holding XTZ through baking. So it can be worthwhile to invest in Tezos at an early stage.

For beginners it is easiest to buy Tezos directly from eToro in Euro. Many others of the large crypto stock exchanges trade XTZ only against other crypto currencies such as Bitcoin. Although there are Tezos already a few years investors should consider nevertheless that the technology stands still completely at the beginning of their development. That offers many chances on in the future large course profits, saves in addition, a few risks with itself. As a share in the portfolio, Tezos can make sense.

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Tezos Price and Price Development

 

Here you can find the current XTZ price and see how the price has developed.