Tezos was one of the biggest ICOs (Initial Coin Offerings) that launched last year. Sold as a future smart contract protocol that could rival Ethereum, with fundamental changes that could make it even better, thousands of people leapt upon the opportunity to invest in Tezos coin.
Fast forward half a year, and Tezos is embroiled in controversy. Many early investors have not received the Tezos coins (“Tezzies”) that they paid for, a class action lawsuit has been filed, and Tezos’s direction has just resigned. Is this the last croak of a dying coin?
Nobody can say for sure, but there’s an argument to be made for buying the coin of a strong project when the price is down, because a discount like this might never come again. Sure the Tezos price has suffered; it’s up to you to decide if it’s going to stay that way.
Quick Steps to Buy Tezos Coin
- Buy Bitcoin on Coinbase
- Create an account with HitBTC.com
- Send your Bitcoins to HitBTC.com
- Buy Tezos
- Send your Tezos coins to a new Omniwallet account address
The Benefits of Proof of Stake Governance
- One of Tezos biggest selling points is the Proof of Stake model they use for getting transactions completed and for introducing new coins into the network. Anyone who “stakes” their coins (commits them to the Tezos network for a period of time) gets the right to vote for “Delegates”.
Ethereum itself is moving toward this model, from the familiar Proof of Work mining protocol it currently uses. POS has many benefits, but Ethereum has failed to make the change, even though it was promised to take place before the end of last year.
Proof of Stake, many agree, is the superior system to Proof of Work. Proponents say it’s greener (no mining), more democratic, and less prone to dangerous centralization, a current major argument against Bitcoin and Bitcoin cash. A new coin could solve these problems.
Tezos may be that coin. It also may not be. Your feelings on this will be the determining factor in whether or not you’re tempted by the current Tezos price and want to buy some Tezos coin of your own.
How to Buy Tezos Coin to Invest in Tezos
If you’ve decided that Tezos coin is worth a try in your portfolio, you’ll only have one choice of where to do it. Currently, Tezos coin is only sold on HitBTC.com. HitBTC has been troublesome for some users, but in most cases its performance is fine. We’ll show you how buying Tezos coin on HitBTC works. But first…
Buying Bitcoins Before You Buy Tezos Coin
In order to buy Tezos coin, you’ll need to Bitcoin or Ethereum. Bitcoin and Ethereum are the fundamental coins that exchanges use to trade against most of the coins they hold. Head over to Coinbase or Gemini and get some of your own.
Putting Your Tezos Coins in a Personal Wallet For Safekeeping
If this simply won’t work for you but you’ve got to have your Tezos coins, there are people online who claim to have found solutions in testnets and Google Chrome extensions. If you’re a little tech savvy this could be a good route for you, but because these methods have not been formally standardized, we will not be making any specific recommendations here.
The rest of you can wait (and hope) for the network to drop as planned!
Tezos Coin FAQ
- Is Tezos Cryptocurrency Really a Currency? Tezos coin is a currency in that people can trade it for other currencies and, someday, stuff. However, Tezos coin’s main function is as a currency of the Tezos network, just like Ether with Ethereum and GAS with NEO. Once you’ve learned how to buy Tezos on a Tezos exchange, you’ll have a coin with the potential for many use cases, currency being just one of them.
- What’s the best Tezos Exchange? HitBTC is the one and only Tezos exchange.
- Was My Tezos Buy a Good Buy? Only time will tell.
- The Tezos ICO Has Come and Gone and I Still Don’t Have My Tezos Coins! The Tezos community seems to think they’re coming soon. Make sure to keep the receipts from your original purchase and take a look at the Tezos class action lawsuit if you feel the need.
- What Does Tezos Crypto Even Mean? Tezos is called “crypto” because it is a blockchain application that uses cryptographic encryption techniques that store data in a way that is extremely difficult, sometimes impossible, to hack or alter in a dishonest way for any purpose.
- Is the Tezos Price Going to Keep Going Down? Nobody knows. Whether or not the Tezos price goes down depends upon the resolution of the current legal battles and the actions of the Tezos Foundation. If the network is released soon, it’s likely that the Tezos price will rise.
Final Thoughts on Tezos
Tezos is in a rough patch right now, dealing with the fallout from a delayed launch, two lawsuits, and upheaval in the leadership roles of the Tezos Foundation.
Analysts have complained that Tezos is an example of a company that got to a valuation that resembles that of a mature company, even though Tezos had only a whitepaper. On the one hand, it is possible that Tezos may never truly be completed, and the Tezos price could never rise above the levels is saw in the not-distant past. This would be a bad thing for investors, and for those who hoped to one day use the Tezos network.
HOWEVER! There have been countless examples in history of companies in turmoil who have seen their prices fall to record lows…only to recover! Will Tezos be one of those, or will it be relegated to the dust bin of crypto lore? Only time will tell.
Nonetheless, if this turns out to be a redemption story, those who invest in Tezos now are going to be greatly rewarded. Stay tuned for more details as the situation involved, and if you find yourself believing that Tezos will come back from the brink, make sure to buy at these bargain basement prices!