For the past six years, Tezos (XTZ) has managed to become one of the most popular cryptocurrencies. Its popularity can be attributed to the fact its transactions are cheap and fast, unlike other cryptocurrencies.
Why is Tezos valuable
One interesting aspect is that it has been able to survive a bearish market and now it is continuing to reach new heights. With a market capitalization of more than 3 billion dollars, it is safe to say that it is an excellent value proposition for anyone’s portfolio of investment. Another intriguing and unique aspect of a blockchain is its capability of self-amending. In simpler terms, it can enhance itself over a given period by utilizing a formalized procedure to level up its protocol. A large number of blockchains do not possess formal structures of governance which results in decisions being made by a group of individuals who influence the whole ecosystem.
It has been equipped with on-chain techniques for selecting, testing, activating, and proposing protocols. These mechanisms, coupled with the fact that it has been rewarding developers to create dApps (decentralized applications) on its platform since the day it began its operations. Thus it has been excellently positioned to scale quickly and reach consensus while remaining reliable and safe.
To an investor, one of the most considered factors that make it valuable is staking. There are several levels where an investor can take part in staking. He can either be a passive or active validator. An active one will directly verify or validate transactions while the passive one will delegate their transactions to the active validator. In regards to governance, only those who hold these cryptocurrencies are allowed to vote and make improvement proposals.
Buying and selling Tezos
If one is hoping to trade in them then he will need a wallet. Even though hardware wallets like Trezor and Ledger are still considered secure and solid for storing crypto, Kukai, and Temple wallets are not only popular but the best in trading. They are also very easy to install than the other wallets.
Nonetheless, it is important to clarify that trading Tezos is not an easy sail. For that reason, it is better to follow some guidelines on how to trade this cryptocurrency. For those who do not know where to find it, it is found in nearly all major decentralized and centralized exchange platforms. Today, there are quite several platforms but the popular and trusted ones are Binance and Coinbase.
Normally, the centralized exchange platforms are the easiest to use or navigate making them excellent for beginners. The major discrepancy between centralized and decentralized exchange platforms is that the latter are disseminated across a large network of computers without a centralized server. Therefore, as a result, they are not subjected to any regulation.
Note that, there are people known as crypto brokers in this field. These are providers who have mostly centralized that act as middlemen between cryptocurrency markets and users. In other words, they are the facilitators of the cryptocurrency trades. They are the ones who set the prices so users do not trade with each other based on the current prices in the market.
5 easy Steps on how to trade Tezos
For one to trade Tezos, the first step is to create an account with a regulated exchange. The second step is to fund your account. The third step is to select the number of Tezos one wants to trade. The fourth step is to either buy the Tezos coin or sell it and lastly to confirm the trade. Here’s the procedure in layman’s terms:
- Step 1: Create an account with a regulated broker.
- Step 2:Put some money into your new account.
- Step 3: Select the number of Tezos coins for trading.
- Step 4: Buy or sell the coins.
- Step 5: Confirmation of the trade.
