Buy Tezos if you want control over your diverse crypto investments. Tezos or XTZ cryptocurrency uses a special blockchain that allows users to update its code and vote to change its rules. This means that a developer can come up with new applications using the Tezos network. All you have to do to vote on the rules is stake Tezos, meaning you first have to buy it.
If you’re thinking about buying Tezos, you should know what it is, how it works, and how to buy it. Read on to learn more about investing in this unique currency.
What is Tezos?
The Tezos blockchain “self-amends.” That’s how the currency itself puts it on its site. Anyone who owns Tezos currency can vote to change the rules of the blockchain. If a rule passes, the software itself would update with the new conditions. This means that Tezos is more malleable and personal than most currencies out there.
This makes it possible for Tezos to schism into multiple currencies. Since the rules of the network can change based on votes, it’s theoretically possible for multiple cryptocurrencies to form, each with its own prices and network analytics.
Should you Buy Tezos?
The unique features of this currency come with plus sides and downsides. You can maintain your holdings and stakes on this crypto to gain the ability to upgrade the network through your votes. Thus, the more Tezos you have, the more effect your vote has on the outcome.
Of course, this makes Tezos a hands-on investment, more than just money in the bank. Therefore, those looking for simpler, bottom-line investments may not want to engage in a fluid network like this one.
How to Buy Tezos
If you’ve decided that you want your investments to directly participate in network development, you need to get started adding Tezos to your portfolio. Most major trading platforms support Tezos, so you should be able to place trades and stake Tezos easily.
Fund your balance with your card or your bank account and find XTZ on the market prices. You can confirm the operation in minutes on most platforms.
Of course, you can also earn Tezos by staking coins. XTZ is available for staking as we mentioned, so you can get rewards for holding the Tezos you buy with your bank account in your online wallet. Your coins contribute to staking without further input from you, so all you have to do is keep a Tezos supply in your wallet to see the results.
The Takeaway for Investors
Buy Tezos if you want to participate in crypto’s biggest self-amending network. That’s what the currency would tell you, but many investors agree. Buying Tezos is simple from most trading platforms, but using the currency comes with its own unique features. Your stake in Tezos or XTZ factors into your ability to influence the network itself with your vote.
If you want a hands-on investment that stakes automatically and builds your power over a network as you get more coin, Tezos is the currency for you.