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How to Buy Tezos (XTZ) in 3 Simple Steps

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Author: Sam Grant Updated: September 5, 2022

Tezos has a reputation as the coin with the largest ICO until 2017, and this shows in its placement among the Top 20 cryptocurrencies in the global market. Many people who have followed the performance of Bitcoin in the last two years are also keen to know about other coins and tokens with similar potentials.

Tezos differs from other major cryptocurrencies like Bitcoin as its validated transactions on the blockchain are via proof of stake (coin ownership), rather than proof of work (mining). 

After assessing the top brokers and crypto exchanges, we have presented here the best way to buy Tezos (XTZ) with a credit card, bank transfer, PayPal, and other digital payment methods. For people who want to know how to buy Tezos, this guide will cover all the basic essentials that you need to know.

How to Buy Tezos

If you’re looking for a simple way to buy Tezos, all you need to do is sign up with a crypto exchange. You can access it online with a computer, smartphone, or tablet to quickly buy and sell Tezos and a range of other cryptocurrencies. The best platforms are listed below as well as a quick step-by-step guide on purchasing Tezos.

1. Choose a platform

The most important part of buying any cryptocurrency is choosing a vendor that is safe, affordable, and easy to use. We’ve listed our top choices below to help you select the right platform according to your needs.

1
Min. Deposit
$10
Promotion
User Score
10
Up to $240 bonus!
Build a diversified portfolio with crypto, stocks, and ETFs — all in one place.
Trade on the world's leading social trading and investing platform
Start Trading
Description:
eToro offers a wide range of cryptos, such as Bitcoin, XRP and others, alongside crypto/fiat and crypto/crypto pairs. eToro users can connect with, learn from, and copy or get copied by other users.
Payment Methods
Bank Transfer, Wire Transfer
Full regulations list:
CySEC, FCA
Cryptoasset investing is unregulated in some EU countries. No consumer protection. Your capital is at risk.
2
Min. Deposit
$1
Promotion
User Score
9.3
The world's largest cryptocurrency exchange with over 2bn daily users
Innovative trading platform offering enormous range of crypto coins
Supports over 60 methods of payment including PayPal
Start Trading
Description:
Binance is one of the largest cryptocurrency exchanges in the world. It is better suited to more experienced investors and it offers a large number of cryptocurrencies to choose from, at over 600. Binance is also known for having low trading fees and a multiple of trading options that its users can benefit from, such as; peer-to-peer trading, margin trading and spot trading.
Payment Methods
Credit Card, Debit Card, Payeer, SEPA, Western Union, Wire Transfer, Yandex Money
Full regulations list:
3
Min. Deposit
$0
Promotion
User Score
8.7
Earn up to 3.5% back in crypto on every purchase
No hidden fees or minimum balance
Immediate Trade Execution
Start Trading
Description:
BlockFi was created to provide credit services to markets with limited access to simple financial products. BlockFi sets itself apart from other crypto service providers by pairing competitive rates with institutional-quality benefits. BlockFi is the only independent lender with institutional backing from investors that include Valar Ventures, Galaxy Digital, Fidelity, Akuna Capital, SoFi, and Coinbase Ventures.
Payment Methods
Full regulations list:

2. Create and fund your account 

Signing up is generally easy, and simply requires you to input your personal details. To fully verify your account, you’ll need to upload a copy of your photo ID and sometimes a proof of address as well. Once you’re verified, make your first deposit using one of the available payment methods.

3. Buy Tezos

Search the available markets for Tezos, and find a trading pair with the currency you deposited. Enter the amount of XTZ you want to buy, then execute the trade.

Buy Tezos Today

5 Things to Consider If You Want to Purchase Tezos

Investors who want to buy Tezos have to bear in mind that there are vital items on the checklist they need to tick. In this regard, the following will be important to consider.

Carefully choose your preferred secure payment method

How do you pay for Tezos? If you are used to online payments and money transfers, then you are in familiar territory. Despite the different payment methods to choose from when buying XTZ, what is secure and safe has to be determined. Additionally, for trading crypto, time is of the essence like most investment decisions and you do not want to miss out when an opportunity presents itself. So, you may wish to choose an option that gives you an advantage in terms of processing speed.

Will you need to set up your own wallet?

Unlike other investments that possibly do not require a special storage medium, cryptocurrencies are different. Tezos has to be stored in custom-built wallets that other digital currencies might not use. Most coins have unique wallets and few others could fit in multi-storage designs. Depending on the platform you are using, you might be able to access a ready wallet with no hassle involved. You should certainly consider setting up your Tezos wallet before you buy Tezos to ensure a seamless transaction.

Comparing costs

When you buy Tezos, the ruling rates in the spot market are often universal across different countries. However, what might be different is the associated cost, and people who are new to trading might be unaware that this exists. Well, it does, and it is important. 

When buying $100 worth of Tezos, you could end up paying $102. The difference might just be $2, but it could also mean that you end up with $98 worth of XTZ if you did not make a proper provision for the $2 transaction cost. Again, what if you’re told of a competing broker who waives the processing fee? Then, you do not have to pay an additional $2 in charges at all. As long as there is an alternative platform with fewer charges and acceptable security, you should consider such.

Safety and security

In a sense, Tezos offers partial anonymity as wallet details do not display the name of the account holder. Tezos was not designed as anonymous crypto, so its transactions can be viewed on the platform explorer and all inflows and outflows on each wallet is public information.

On platforms, the investor has the advantage of in-built security features like 2FA (2 Factor Authentication), which sends an alert each time a log-in occurs or a transaction is initiated. If authorization codes sent to your email or mobile phone are not provided, transactions will not be completed.

The security of the platform used is enhanced by the configuration-type as seen in MT4 systems, which is used for foreign exchange transactions, and MT5, designed for CFDs, crypto brokerage and stocks. The end-to-end assembling of these systems makes it impossible for any interception when you log-in to your account.

Can you understand and navigate the platform?

How a platform works determines what can be done and what is possible. Two platforms might look alike and yet function differently. So, it is important to be able to have a hands-on user experience before trading Tezos. 

You do not want to muddle up your transfers or purchases in the thick of any trade. Wherever possible, use a demo account in order to familiarise yourself with the features and mechanisms before you start to trade for real. Feel free to contact customer care for support at the early stage of registration as this will give you an insight into the level of service provided and provide you with a clear view on whether you want to continue or try another broker. 

What is the Best Payment Method for Buying Tezos?

You can buy Tezos with a range of payment methods which should make it possible for you to settle on the most convenient option available to you. The common payment methods include the following: 

Buying Tezos with Credit Card

To buy Tezos with a credit card might be the most popular payment option. While everyone might have heard of credit card payments, it is not necessarily preferred by all. It is available in many countries around the world but limited in others. Speed and convenience are the common advantages of this payment method.

Via Bank Transfer

To purchase Tezos with cash is generally considered unsafe and not readily possible. The closest option is using a bank transfer. Using a bank transfer makes it easy for payments to be completed around the world. It is clearly the oldest payment method among the most acceptable options. Almost all the leading platforms accept bank transfers, but you will need to factor in which fiat currency you can use. Many people can identify with this payment method.

Purchasing Tezos with Crypto Deposit

To buy Tezos with a crypto deposit is most convenient and relatively fast. It is also the best in terms of cost as it helps you avoid processing fees and you only get to pay network charges.

Buying Tezos with PayPal

Some investors are able to buy Tezos with PayPal, but it is not available in all countries and for those who do have this facility, your PayPal account must first be verified. It is low on fees and payments reflect immediately in almost all cases.

What Fees Are Involved?

Traditional banking has associated fees, and this is the case too when buying cryptocurrencies like Tezos. These are what the fees typically look like:

Processing Fees

Processing fees are attached to the payment method you choose when depositing money onto your trading platform or buying Tezos outright. So, if you do not use a fiat currency payment method, you can avoid these fees. 

Network Fees

These are associated with the particular coin you are buying. In buying Tezos, the crypto network has its charges for transfers or deposits. Like most altcoins, these charges are minute.

Transaction Fees

Crypto platforms are able to stay afloat primarily because they charge transaction fees from investors’ activities. Again, these are small, tiny payments that are almost unnoticeable except you are carrying out a large transaction.

Safely Storing Your Tezos

Whether you are buying Tezos to hold or trade, it is important that you know of the various types of wallets so that you can safely store your Tezos. 

Web Wallet

You need a functional internet connection if you wish to access a web wallet. Most platforms that provide a wallet to investors have a free web wallet in place. Some choose to avoid storing coins on an exchange except you are using it as an ongoing investment.  

TezBox and Atomic are two of the common web wallets. 

Mobile Wallet

A mobile wallet is downloaded for use on a mobile device such as a phone or a tablet. The oft-mentioned advantages include ease-of-use and accessibility, even when commuting. Mobile wallets are susceptible to loss and compromise due to physical displacement of the device but have greater security than typical web wallets offer. AirGap and Exodus are examples.

Desktop Wallet

Desktop wallets are used around the world and they are considered to be much safer than the two previous options. Since desktops are hardly moved around, the risk of physical loss is minimized. You can also install further security protocols to your system, so desktop wallets sacrifice some convenience for greater safety.

Examples of desktop wallets for XTZ are Exodus and Galleon Tezos Wallet.

Hardware Wallet

Many crypto security specialists rate hardware wallets as the preferred option in terms of safety. However, you need to buy the devices to use them. You only need a hardware device if you are buying to hold a larger amount of XTZ over a longer period. These devices keep your cryptocurrency investment safe in an offline environment. Because of their security hardware wallets tend to be slower to use than software wallets which is another factor you should consider if you're planning on making many transactions. Leading hardware wallet brands include Ledger and Trezor

Wallet Combinations

Wallet combinations refer to multi-platform usage and this enables the investor to access such a wallet on desktop, web or even mobile. The advantage is that when desktop access is not possible, a mobile log-in might be possible. Multi-platform access comes with more convenience as alternate access can be explored if one method fails or is impossible to use.

In addition to the type of wallet, you may also wish to check if your choice has the option to stake XTZ. With Tezos being a proof of stake network, it's vital that Tezos owners stake their coins in order for transactions to happen on the network. Staking offers advantages as you can earn additional coins from the fees on other users transactions.

What Other Coins Can I Trade or Use to Purchase Tezos?

You can use other coins to purchase Tezos and the most common of these are Bitcoin and Ethereum. You can buy Tezos with Ethereum on many platforms and the cost is comparatively low. Transaction speed is also reasonably fast, usually taking less than 30 minutes. 

The coin you can use to buy XTZ will depend on the platform you are using, and if such crypto is permitted as default trading options. In other instances, you might have to convert the crypto you have to a more popular brand that is listed.  

What’s the Smallest and Largest Amount of Tezos I Can Buy?

So, what is the minimum purchase for Tezos? The Tezzie, which is valued as 100th of a Tez, is like a cent (1 Tez = 0.01 XTZ). 

So, can I buy a whole XTZ? Yes. At the time of writing, XTZ is priced at $2.45, and at that rate, it is within most people's budgets. Restrictions on how much Tezos you can buy are platform-imposed and this means that your account rating determines the volume of transactions you can access. 

Take a look at our Tezos Price page for a live rate.

Can I Buy Anonymously with no ID? Is it Safe and Legal?

Like most cryptocurrencies, Tezos does not provide complete anonymity. Tezos explorer shows your wallet transactions and tracks inflows and outflows easily. So, you cannot purchase XTZ anonymously on any major platform. Tezos is, therefore, legal to buy and trade in many global jurisdictions. First, your account cannot operate if you have not provided KYC and AML details. Secondly, in the event of legal intervention, your wallet transactions will be traced to you as your platform can be subpoenaed to provide your account details.

While you can buy Tezos with no verification from open marketplaces, this is not advisable. First, stolen coins or those used as proceeds of illegal activity are traceable using wallet addresses. If you buy such tainted crypto from the dark web, investigators can track and confiscate them, and you might end up with losses or even a criminal indictment. Secure and safe transactions are provided by registered and licensed brokers with no fear of running afoul of the law. 

How to Spend Your Tezos

Tezos can be used for settlement on a number of merchant sites around the world. One of the underlying uses is value transfer. It is easier and cheaper to send money to anyone overseas using the Tezos equivalent than any fiat method. In addition, a couple of merchant sites also accept XTZ for goods and services.

Some online gift stores like GIFTO accept crypto payments, web hosting services can also be paid for with Tezos. Online gaming ecosystems are largely crypto-friendly and a couple of them allow crypto payments.

Recent reports also point to educational activities driven by the Tezos blockchain, which provides an opportunity to use XTZ for allied purposes. Beyond this, there is the window of use that staking already provides. In this way, individuals can buy Tezos coins and stake them by depositing them in the accepted manner on verified wallets over a period of time. This operates like fixed deposits in order to earn staking rewards, akin to interest. Staking rewards presently have a yield rate of 6 percent annually.

Frequently Asked Questions

  1. No hard rule here. Many platforms allow $10 worth of purchase and others require a minimum of $100.
  2. Tezos like most crypto have intermittent swings in market price. Since bull seasons are discernible, an outset of one is a good time to buy if you want a short-term approach. For the long term, anytime bodes well, particularly if prices are at a low.
  3. Yes, it is possible. However, you need to understand how the market works to be able to balance risk and return. In addition, you also need a huge trading capital if you are targeting millions in profit.
  4. Yes. Like most financial instruments, CFDs can be profitable but have inherent risk attached as well.
  5. The 12 months high is $3.92
  6. Yes. You are free to empty your wallets at any time.
  7. Yes. Several Tezos wallets are available including Ledger, Galleon, Trezor, among others.
  8. Yes. XTZ is a global cryptocurrency and is used around the world.
  9. If you're looking to find out more on the process of purchasing other cryptos then you can find our full coin list here, or take a look at the buying guide for crypto.

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