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How to buy Tezos (XTZ)

A beginner’s guide to buying, selling and trading Tezos (XTZ) in Philippines.

Updated

Fact checked

Known as “Tezzies”, XTZ tokens are the native currency of the Tezos blockchain. However, as they can currently only be traded on a small number of exchanges, it’s important to know where to look if you want to get your hands on any XTZ.

If you’re keen to add some Tezos to your portfolio, keep reading for step-by-step instructions on how to buy XTZ.

Disclaimer: This information should not be interpreted as an endorsement of cryptocurrency or any specific provider, service or offering. It is not a recommendation to trade.

Quick guide: How to buy XTZ in the Philippines

  1. Get some Bitcoin to exchange for this cryptocurrency.
  2. Register for an account with an exchange like Binance.
  3. Enable 2-factor authentication.
  4. Go to “Wallets” and select “Deposits”
  5. Select “Deposit cryptocurrency” and choose BTC.
  6. Copy the wallet address or scan the QR code.
  7. Transfer BTC into your account.
  8. Click “Exchange” and select “Basic.”
  9. Search for the pair you want to trade.
  10. Enter the amount you want to buy.
  11. Review the transaction details.
  12. Confirm your purchase.

Go to Binance's website

This is our quick guide to just one way to buy XTZ. Compare some other options in the table below.

Where to buy Tezos

Name Product Deposit methods Fiat Currencies Cryptocurrencies
Coinbase Digital Currency Exchange
Bank transfer (ACH),Credit card,Debit card,Bank transfer (SEPA),Wire transfer
USD, EUR, GBP, CAD, MXN, HRK, CZK, DKK, CLP, BGN & 10+ more

35
cryptocurrencies

Buy and sell major cryptocurrencies on one of the world's most renowned cryptocurrency exchanges.
eToro Cryptocurrency Trading & CFDs
Bank transfer (ACH)
EUR, GBP, NZD, USD, AUD, CAD, HKD, SGD, CHF, NOK & 5+ more

16
cryptocurrencies

Disclaimer: Volatile investment product. 75% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.
Copy the trades of leading cryptocurrency investors on this unique social investment platform. $1,000 minimum deposit.
CEX.IO Cryptocurrency Exchange
Bank transfer (ACH),Credit card,Bank transfer (SEPA), Faster Payments Service,Skrill
USD, EUR, GBP, RUB

22
cryptocurrencies

Disclaimer: Highly volatile investment product. Your capital is at risk.
Use your USD, EUR or RUB to buy and sell cryptocurrency at competitive exchange rates and with high maximums for verified accounts.
StormGain Cryptocurrency Exchange
StormGain Cryptocurrency Exchange
Cryptocurrency
USD, EUR, AUD, CHF, CZK, DKK, GBP, HUF & 5+ more

23
cryptocurrencies

Stormgain aims to make cryptocurrency trading easy, and also lets you buy crypto with fiat via Simplex.

UK residents: In addition to normal crypto trading, Stormgain offers margin lending. As this is a regulated activity which they are not authorised to offer in the UK, we advise you not to use this service.
Poloniex Digital Asset Exchange
Credit card,Cryptocurrency
USD, EUR, AUD, CAD, CHF, CZK, DKK, GBP, HUF, ILS & 20+ more

115
cryptocurrencies

Trade various coins through a global crypto to crypto exchange based in the US.
Coinmama Cryptocurrency Marketplace
Credit card,Debit card,Bank transfer (SEPA),SWIFT,Wire transfer
USD, EUR, AUD, CAD, GBP, JPY

10
cryptocurrencies

Founded in 2013, CoinMama lets you buy and sell popular cryptos with a range of payment options and quick delivery.
Bittrex Global
Bank transfer (ACH)
USD

278
cryptocurrencies

Buy from one of the largest cryptocurrency exchanges with a selection of over 190+ cryptocurrencies and 3 USD pairings.
CoinSwitch Cryptocurrency Exchange
Credit card,Cryptocurrency
USD, JPY, RUB, EUR

387
cryptocurrencies

CoinSwitch allows you to compare and convert over 250 cryptocurrencies across all exchanges.
Bitfinex Professional Trading Exchange
Bitfinex Professional Trading Exchange
Cryptocurrency
USD, EUR, GBP, JPY

164
cryptocurrencies

Cryptocurrencies are a highly volatile investment product. Your capital is at risk.
Spot trade all of the major cryptos on this full-featured exchange and margin trading platform.
KuCoin Cryptocurrency Exchange
Credit card,Cryptocurrency,Debit card
USD, EUR, GBP, RUB, CNY, AUD, KRW, JPY, TRY, VND & 40+ more

210
cryptocurrencies

Finder Exclusive: Get up to 10 USDT in trading fee rebates for signing up and making a deposit, and up to 30 USDT in trading fee rebates after buying with fiat. T&Cs apply.
Browse a variety of coin offerings in one of the largest multi-cryptocurrency exchanges and pay in cryptocurrency.
Changelly Crypto-to-Crypto Exchange
Credit card,Debit card
USD, EUR, GBP, AUD, CAD, CHF, HKD, JPY, PHP, ZAR & 30+ more

146
cryptocurrencies

Access competitive crypto-to-crypto exchange rates for 150+ cryptocurrencies on this global exchange.
OKEx Cryptocurrency Exchange
Bank transfer (ACH)
USD, CNY, EUR, ARS, AUD, BGN, BRL, CAD, CHF, COP & 20+ more

269
cryptocurrencies

Listing over 100 cryptocurrencies, OKEx offers its users a variety of payment methods and coins to choose from.
Kraken Cryptocurrency Exchange
Bank transfer (ACH)
USD, EUR, GBP, JPY, CAD, CHF, AUD

53
cryptocurrencies

Buy, sell and trade a range of digital currencies on this high-liquidity exchange – suitable for beginners right through to advanced traders.

UK residents: In addition to normal crypto trading, Kraken offers margin lending. As this is a regulated activity which they are not authorised to offer in the UK, we advise you not to use this service. If you're interested in margin trading, see authorised providers.
Huobi Cryptocurrency Exchange
Cryptocurrency
GBP, USD, AUD, EUR, INR, BRL, KHR, CAD,CNY, NZD & 15+ more

290
cryptocurrencies

Huobi is a digital currency exchange that allows its users to trade more than 190 cryptocurrency pairs.
Bithumb Cryptocurrency Exchange
Cryptocurrency,Wire transfer
KRW

118
cryptocurrencies

A global platform where users can make KRW and cryptocurrency deposits to purchase up to 15 popular cryptocurrencies.
Bitit Cryptocurrency Marketplace
Cash,Credit card,Debit card,Neosurf,Bank transfer (SEPA)
EUR, USD, JPY, DKK, GBP, SEK, NOK, TRY & 5+ more

50
cryptocurrencies

Buy cryptocurrency with cash or credit card and get express delivery in as little as 10 minutes.
Gate.io Cryptocurrency Exchange
Cryptocurrency
-

36
cryptocurrencies

Hotbit Cryptocurrency Exchange
Hotbit Cryptocurrency Exchange
AdvCash,Cryptocurrency,Payeer,Perfect Money
USD

512
cryptocurrencies

A multi-currency exchange with 150+ pairings that can be accessed through desktop as well as a mobile app.
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Compare up to 4 providers

A step-by-step guide to buying Tezos

It’s currently not possible to buy Tezos directly with Philippine pesos. If you want to buy any XTZ tokens, you first need to acquire a currency listed in an XTZ trading pair, such as bitcoin (BTC) or Tether (USDT), and then exchange it for XTZ.

For the purposes of this example, we’ll look at how you can buy Tezos with bitcoin.

How to sell Tezos

If you want to sell your Tezos tokens, you can do so by following a fairly similar process to that described in Step 4. The obvious difference is that you need to make sure to type in your transaction details under the “Sell XTZ” heading.

In addition, because Tezos is only listed in a limited range of trading pairs, you may not be able to make a direct exchange for the currency you want.

Which wallets can I use to hold Tezos?

Rather than storing your tokens on exchanges, which are regularly the target of hacking attempts, it’s widely recommended that you transfer any tokens you buy into a private wallet.

There is currently no official Tezos wallet. Unfortunately, there isn’t a great deal of choice when choosing a Tezos wallet either, though an increasing number of products are becoming available. Options you might like to consider include:

  • Galleon Tezos Wallet (desktop wallet)
  • TezBox Wallet (web and mobile wallet)
  • Kukai Wallet (web wallet)
  • tezos.blue (mobile wallet)

In addition, software company Obsidian Solutions announced in July 2018 that it had released a Tezos Wallet application for the Ledger Nano S.

For more tips on how to choose a good wallet, check out our cryptocurrency wallets guide.

How Tezos works

Tezos is not only a platform for smart contracts and decentralised applications (dapps), it’s also the world’s first self-evolving blockchain.

In the short history of cryptocurrencies, there have been numerous examples of currencies being forced to fork their network into two different blockchains in order to upgrade. Perhaps the most notable example of this was the DAO hack that saw Ethereum and Ethereum Classic go their separate ways. Forks often divide the community behind a cryptocurrency and can cause significant network disruptions.

Tezos’ unique solution is a process that enables its protocol to be continuously upgraded through on-chain governance. The aim behind this is for the network to constantly evolve and upgrade over time, rather than undergoing radical changes that require a hard fork. All stakeholders can participate in governing the Tezos protocol by voting on proposed changes and upgrades.

Tezos also has its own smart contract programming language, Michelson, and uses a delegated proof-of-stake algorithm to achieve network consensus. Rather than staking, Tezos uses a process known as “baking”. Bakers are required to provide a security deposit to participate in the consensus process, and they validate all transactions and add them to the blockchain.

MUST READ: Tezos controversy

In July 2017, the Tezos team wrapped up a successful Initial Coin Offering (ICO) that raised USD$232 million worth of bitcoin and Ethereum, making it one of the world’s largest ever ICOs. It was a promising start for this ambitious blockchain platform, but since then Tezos has been mired in controversy.

The project is headed by husband-and-wife duo Arthur and Kathleen Breitman. In April 2018, the United States’ Financial Industry Regulatory Authority (FINRA) fined Arthur Breitman $20,000 and suspended him from associating with broker-dealers for up to two years after he allegedly began developing and pitching Tezos while still working for Morgan Stanley.

However, the project has also been rocked by a significant legal dispute between the Breitmans and Johann Gevers, the former president of the Swiss-based Tezos Foundation, and a series of lawsuits launched by ICO participants. One class action lawsuit that claims the company violated US securities laws during the ICO is still set to go ahead.

As a result of all this drama, the launch of the Tezos network was significantly delayed. ICO participants didn’t even get access to the tokens they had purchased for almost a year, and once tokens were distributed many holders decided to sell straight away.

Things to consider before you buy XTZ

Cryptocurrencies are complicated and volatile assets, and buying any digital coin or token comes with a high level of risk attached. With this in mind, it’s essential that you research and understand the many factors that can potentially impact the price movements of any cryptocurrency before you buy.

If you’re thinking of buying any XTZ, make sure you consider the following:

  • Supply. According to CoinMarketCap, as of November 2020, the circulating supply of XTZ was 750,132,742, with a total market cap of USD$1,567,064,265.
  • Controversy. We’ve given you an abridged version of the scandals that have plagued Tezos above. Before buying any XTZ, make sure you thoroughly research the ins and outs of the lawsuits and apparent internal power struggles that have troubled Tezos and made headlines throughout the crypto world.
  • Limited availability. Perhaps because those who participated in the Tezos ICO had to wait so long to receive their tokens, Tezzies can only be traded on a handful of exchanges.
  • Use. Tezzies are the Tezos network’s store of value. They’re used to pay transaction fees and power smart contracts, and are also offered as baking rewards.
  • Whitepaper. If you want to take a detailed look at the technology behind Tezos and how the platform works, check out the project’s whitepaper. The Tezos position paper is also a useful document for understanding the motivation behind the creation of the platform.

Tezos is a controversial project but one that nonetheless has plenty of unique and interesting features. Make sure you consider all the factors listed above and any other risks before deciding whether or not you should buy XTZ.

Compare ways to buy Tezos

Disclaimer: Cryptocurrencies are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance is no guarantee of future performance. Consider your own circumstances, and obtain your own advice, before relying on this information. You should also verify the nature of any product or service (including its legal status and relevant regulatory requirements) and consult the relevant Regulators' websites before making any decision. Finder, or the author, may have holdings in the cryptocurrencies discussed.

Disclosure: At the time of writing the author holds ADA, ICX, IOTA, POWR and XLM.

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