- Currency is needed for settlements in a certain domestic market, where it is the only legal means of payment.
- Currency is needed as a tool for investment or savings.
This applies equally to fiat and digital currencies.
Although Bitcoin is unmatched in all market indicators and is clearly not going to give up positions, diversifying the investment portfolio will not hurt. Moreover, when there are other projects on the market with good potential. Experts consider Tezos to be one of such projects.
What is Tezos
Tezos (XTZ) is a blockchain network dedicated to the creation of smart contracts. The developers of the project relied on flexibility, allowing participants to directly control and improve the rules of the network. This is seen as a critical aspect of the system.
The system for approving protocol updates and their further deployment on the network is based on the active participation of users. Users who participate in approving the update are rewarded. Having incentives to participate in the main development process democratizes it and decentralizes service as much as possible.
For settlements in the Tezos network, the Tez or Tezzie (XTZ) token is used. Instead of a power-hungry Proof-of-Work consensus mechanism, the network uses a Proof-of-Stake algorithm.
The token was launched in 2017. The ICO brought in a record $ 232 million, and so far this record has not been broken. Later, disagreements arose in the team of creators, because of which the launch of the platform took place much later than planned and the very future of the project looked very doubtful.
However, the project weathered the legal storm with flying colors and survived the bearish trend. By February 2020, the future of the project began to look more optimistic. However, you should be very careful to include XTZ in your portfolio. Short-term forecasts for the price of the token are extremely controversial, although reaching new highs can bring good profits in the long term.
As of now, XTZ remains at the TOP-100 of the largest cryptocurrencies and this is a really serious achievement in such a volatile and unpredictable market as the cryptocurrency market.
How to change BTC to XTZ
The fairly high position of XTZ in the ranking of the largest cryptocurrencies means that the coin is listed on many exchanges. Among the most famous and reliable places for BTC to XTZ exchange are:
- CEX.IO. This company was originally founded as a cloud mining service. Here XTZ is available for instant purchase in the corresponding section of the exchange functionality. Before starting work, you need to register an account and go through account verification.
- Huobi. It ranks second in terms of trading volume and is one of the leaders in the cryptocurrency market. The site provides over 60 payment methods and a quick purchase mechanism. However, to use all the functionality of the service, you will need to register and verify your account.
Among the common features inherent in most custodian cryptocurrency exchanges is the mandatory registration and verification of an account to access all the technical capabilities of the site. This contradicts one of the basic principles of cryptocurrency functioning, namely, anonymity. The disadvantages of custodial services include mandatory exchange commissions and possible liquidity problems.
Welcome to LetsExchange
The non-custodial service LetsExchange offers an extremely simple way to exchange BTC to XTZ and another 60,000+ cryptocurrency pairs. You need to perform several actions in the exchange widget:
- In the upper field, select BTC for sale and indicate the amount of the transaction;
- In the lower field, select XTZ to buy;
- Indicate the address of your crypto wallet;
- Deposit coins;
- Press the "Exchange" button.
The system will automatically perform the search for the most profitable deal, all the necessary calculations, and other actions to complete the transaction. You do not need to look for an exchange service where XTZ is traded, compare conditions, register. On https://letsexchange.io/, the exchange is very fast, safe, and completely anonymous. In addition, there are no commissions charged on the site and there are no restrictions on the amount and number of transactions.
LetsExchange is always profitable and convenient.