In simple terms, Tezos is a smart contract platform. It’s similar to Ethereum but with a different governance model written in OCaml, a functional programming language. Tezos was crowdfunded in 2017 and raised $232 million in an ICO. The most interesting feature of Tezos is its on-chain governance model. For further information click here for the most appropriate wallet for this platform.
This allows any user to propose changes or upgrades to the network by submitting proposals voted on by stakeholders and owners of XTZ tokens. This process allows for timely improvements while avoiding hard forks if it cannot reach a consensus among developers and users. It happened with Bitcoin Cash (BCH) last year. Miners split from BTC, Bitcoin Core development team over block size increase debate on Bitcoin Cash (BCH).
Tezos has a lot of potentials, but it’s still in the early stages. The project launched just this year and is only now starting to gain traction. As with any new technology or product, there will be some bumps along the way. With that said, if you’re looking for an alternative cryptocurrency investment opportunity. Tezos may be worth considering as a long-term play on cryptocurrency.
What is Tezos (XTZ)?
Tezos is a new cryptocurrency that, like Bitcoin, allows users to make payments. However, unlike Bitcoin, this project focuses more on smart contracts and decentralised applications. The goal of Tezos is to create a new cryptocurrency that, like Bitcoin, allows users to make payments.
However, unlike Bitcoin, this project focuses more on smart contracts and decentralised applications. By using a type of technology called the blockchain. You can send money around the world quickly and easily without any middlemen involved in the process.
This means that if someone wants to send money from Singapore to Australia, they don’t need a bank or other financial institution anymore. They need some bitcoin currency which they can buy online with their credit card or cash at any ATM worldwide.
Is Tezos (XTZ) a good investment?
If you’re interested in investing in a project that has a long-term view and is concerned with solving the problems that other smart contract platforms have had, then Tezos may be right for you. It’s an ambitious project trying to solve some of the problems that other smart contract platforms have faced regarding speed and overall stability. While today’s market is still very volatile for cryptocurrencies, if you believe this technology will be useful, now might be the time to invest.
How to buy Tezos (XTZ)?
If you want to sell XTZ again, you can do this on the trading platform again or withdraw your funds to your bank account.
- Create a trading account
- Buy a digital wallet
- Transfer XTZ to your wallet
Tezos on a trading platform
You can trade Tezos for fiat currency or other cryptocurrencies when using a cryptocurrency exchange. Some exchanges will only allow you to trade Tezos for other cryptocurrencies. In contrast, others will also allow you to purchase the currency in exchange for US dollars.
The most popular exchanges for trading Tezos are Binance and Kraken. These platforms offer crypto-to-crypto trading pairs meaning that they only facilitate trades between different cryptocurrencies. For example, if you wanted to buy some Bitcoin on Binance with your Tezos, it would be possible through the BTC and XTZ trading pair. However, there are several other more mainstream options available as well:
Coinbase Pro, formerly GDAX, is an American exchange that allows users to buy and sell cryptocurrencies. Such as Bitcoin and Ethereum directly with USD via bank transfers or credit cards. It also offers margin trading services at 0% fees. However, this feature is currently unavailable outside of certain states within the United States due to FINRA Financial Industry Regulatory Authority regulations.
If eligible, margin trading would allow investors who have collateralized assets like stocks or cash equivalents on deposit with Coinbase Pro instead of having them tied up in positions directly related to their crypto holdings.
Final Words
Tezos is a serious challenger for Ethereum. It has a strong governance system, speedy network, and versatile tools that make it well-suited for enterprise use cases. Its developers are actively working to improve the platform, and its growing community of supporters shows that it has the potential to become the next big thing in blockchain technology.