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Buy Tezos (XTZ) in UK With GBP | CoinJar

Tezos

XTZ

£0.000GBP

Figures shown refer to the past. Past performance is not a reliable indicator of future results. Pricing data is provided by CoinJar.

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XTZ

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Overview

#109

Popularity

Smart Contract Platform

Asset type

2018

Active since

Official site

What is Tezos?

Why investors buy Tezos: Tezos is not your typical cryptocurrency. It’s more like a digital platform that allows people to create and manage assets and applications. Metaphorically, it is a playground for developers, where they can build stuff using blockchain technology. But what makes Tezos unique from other blockchains?

Self-upgrading

Imagine if your smartphone could upgrade itself without you having to buy a new one. That’s what Tezos does. It evolves over time. How? By upgrading itself through a process called self-amendment.

No forks — just smooth transitions. This means Tezos can adapt to new challenges without splitting into different versions.

Governance by the people

Tezos isn’t ruled by a single king or queen. Instead, it’s governed by its users. It’s like a digital democracy. If you’re a Tezos holder, you get a say in how things work.

So, when someone suggests an improvement (called an amendment), users vote on it. If it’s a good idea, it becomes part of Tezos.

Smart contracts and dApps

Tezos allows developers to create smart contracts and decentralised applications (DApps). What’s a smart contract? Think of it as a digital agreement that executes automatically when certain conditions are met.

For example, you could create a smart contract for buying a house. Once the money is transferred, the contract automatically transfers ownership. No lawyers needed.

dApps, on the other hand, are apps that run on the blockchain, instead of the internet. They can’t be shut down by anyone (there’s no central authority). Want to build a decentralised voting app or a digital art marketplace? Tezos is one place you can do it.

Proof-of-Stake (PoS) and delegation

Tezos uses Proof-of-Stake (PoS). Participants (called nodes) contribute their computing power to keep Tezos running smoothly. Unlike traditional PoS, anyone can join. And they get rewarded for helping out. To participate, users need a deposit, similar to collateral.

Cool things on Tezos

The top dApps on Tezos are interesting to read. Here are some interesting projects.

(Please note, CoinJar does not endorse the content of, and cannot guarantee or verify the safety of any third party websites. Visit these websites at your own risk.)

Objkt.com

Objkt.com is the largest digital art and collectible marketplace on Tezos. It allows users to buy, sell, and showcase NFTs (non-fungible tokens) created on the Tezos blockchain. You can explore and discover various digital artworks and collectibles on their platform.

Coin Blast

Coin Blast operates on the Tezos blockchain. There’s a variety of games, including Trivia Cash.

In Trivia Cash, players answer trivia questions to compete against each other. But there are real prizes at stake. Coin Blast has been gaining traction. It recently surpassed 12,000 monthly active users.

V.Hive

V.Hive is a digital fan universe. This futuristic Neo-Paris universe allows fans from all over the world to unite, collaborate, and support Team Vitality’s ambitious goals.

There are hundreds of quests within V.Hive. By completing them, users climb the ranks and unlock exclusive experiences.

Cricket Stars

This is an NFT-based cricket strategy game built on the Tezos blockchain. Cricket Stars combines sports strategy with cricket gameplay.

Players collect cricket skills as NFT playing cards. These cards can be upgraded and traded to evolve strategies. The game features a real-time player-vs-player esports mode.

Vending NFTs

Vending NFTs introduces the concept of a digital vending machine for random art distribution. Imagine a virtual machine that dispenses unique digital artworks in the form of NFTs.

On the Vending NFTs platform, there are currently 56 NFTs available. Users can purchase these NFTs using Tezos (XTZ) cryptocurrency.

Additionally, there’s a wildcard option for those who enjoy surprises.

Vending NFTs aims to create a unique and interactive experience for art enthusiasts and collectors. By combining randomness, scarcity, and blockchain technology, it adds an exciting twist to NFT acquisition.

Why Investors buy Tezos: Conclusion

Tezos is open-source, adaptable, and community-driven. So, whether you’re a developer, investor, or just curious, keep an eye on Tezos.

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Frequently asked questions

Why buy Tezos with CoinJar?

CoinJar is one of the longest-running crypto exchanges and has been designed from the ground up with security and convenience in mind.

From the quick and intuitive sign-up process, to our lightning fast bank deposits and withdrawals, low fees and user-friendly iOS and Android app, CoinJar is the ideal crypto exchange whether you’re buying XTZ for the first time or an experienced investor.

Where can I store my Tezos?

You can store your Tezos in a hardware wallet or on a trusted exchange. Hardware wallets (such as the Ledger) offer high level security, allowing you to store your XTZ offline in a unit that only you have the password for.

More than 90% of all assets, including customer assets, are stored in wallets secured by cold storage, multi-signature (multi-sig), or multi-party computation (MPC) wallets at all times.

Who created Tezos?

Husband-and-wife team Arthur and Kathleen Breitman first proposed the idea of Tezos in a whitepaper they published in 2014. After raising US$232 million in a 2017 ICO, the first Tezos block was created in June 2018.

What is the safest way to buy XTZ?

The safest way to Buy Tezos is through a trusted exchange with a proven track record. CoinJar is one of the world’s longest-running crypto exchange and has been operating since 2013 with no unplanned downtime, security breaches or loss of customer funds.

How is the price of Tezos determined?

The price of XTZ in GBP is determined by the international Tezos market – basically, the price to be found on cryptocurrency exchanges in the UK and all around the world.

These prices tend to be the same (or very close) because any differences are smoothed out by arbitrage traders that buy at one exchange and sell at another.

What is Tezos?

Tezos (XTZ) is an open-source platform designed for assets and applications that can evolve through self-upgrades. It offers features like on-chain governance, smart contracts, and a protected network.

How do I store my Tezos?

You don’t need a specific Tezos wallet, most wallets will be compatible with XTZ.

You can keep Tezos in your CoinJar account. Or you can get a wallet to store your XTZ. Choose a user-friendly wallet that allows you to store (in a protected manner) and manage your digital currency. Hardware wallets or software wallets are recommended for long-term storage.

Can I trade Tezos?

Absolutely! You can trade Tezos on various exchanges. Start trading by creating an account, depositing funds, and then you can buy and sell Tezos as needed.

What are smart contracts on the Tezos Network?

Tezos supports smart contracts, which are self-executing agreements with predefined rules. These contracts run on the Tezos blockchain and enable decentralized applications (dApps).

Standard Risk Warning: The above article is not to be read as investment, legal or tax advice and it takes no account of particular personal or market circumstances; all readers should seek independent investment advice before investing in cryptocurrencies. The article is provided for general information and educational purposes only, no responsibility or liability is accepted for any errors of fact or omission expressed therein. Past performance is not a reliable indicator of future results. We use third party banking, safekeeping and payment providers, and the failure of any of these providers could also lead to a loss of your assets. We recommend you obtain financial advice before making a decision to use your credit card to purchase cryptoassets or to invest in cryptoassets. Capital Gains Tax may be payable on profits. CoinJar's digital currency exchange services are operated in the UK by CoinJar UK Limited (company number 8905988), registered by the Financial Conduct Authority as a Cryptoasset Exchange Provider and Custodian Wallet Provider in the United Kingdom under the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017, as amended (Firm Reference No. 928767). In the UK, it's legal to buy, hold, and trade crypto, however cryptocurrency is not regulated in the UK. It's vital to understand that once your money is in the crypto ecosystem, there are no rules to protect it, unlike with regular investments. You should not expect to be protected if something goes wrong. So, if you make any crypto-related investments, you're unlikely to have recourse to the Financial Services Compensation Scheme (FSCS) or the Financial Ombudsman Service (FOS) if something goes wrong.

The performance of most cryptocurrency can be highly volatile, with their value dropping as quickly as it can rise. Past performance is not an indication of future results. Remember: Don't invest unless you're prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong. Take 2 mins to learn more at: https://www.coinjar.com/uk/risk-summary. UK residents are required to complete an assessment to show they understand the risks associated with what crypto/investment they are about to buy, in accordance with local legislation. Additionally, they must wait for a 24-hour "cooling off" period, before their account is active, due to local regulations. If you use a credit card to buy cryptocurrency, you would be putting borrowed money at a risk of loss. We recommend you obtain financial advice before making a decision to use your credit card to purchase cryptoassets or to invest in cryptoassets.

Specific risks associated with DeFi tokens Decentralised Finance (or 'DeFi') tokens (e.g. UNI, AAVE) are crypto-assets linked to financial applications and protocols built on decentralised blockchain technology. DeFi tokens carry the following risks:Smart contract risk: DeFi relies heavily on smart contracts. Even a minor coding error or oversight can lead to a contract being exploited, potentially resulting in significant losses for DeFi tokens. Regulatory risk: DeFi operates in a decentralised manner, often without intermediaries or financial crime controls. Regulatory bodies across jurisdictions might introduce new regulations impacting the use, value, or legality of certain DeFi protocols or assets. Rug-pulls / Exit scams: Some DeFi projects might be launched by anonymous or pseudonymous teams, increasing the risk of "rug pulls" where developers abandon the project and withdraw funds, leaving investors with worthless tokens. Data/oracle risk: DeFi protocols often rely on external data sources or 'oracles. Manipulation or inaccuracies in these data sources can lead to unintended financial outcomes within the protocols. Protocol complexity: The complexity of some DeFi protocols can make it difficult for average users to fully understand the mechanisms and associated risks.

Specific risks associated with meme coins: 'Meme coins' (e.g. DOGE, SHIB, PEPE) are crypto-assets whose value is driven primarily by community interest and online trends. Meme coins carry the following risks: • Volatility risk: Meme coins can have extreme price volatility, often experiencing rapid and unpredictable price fluctuations within short periods. The value of meme coins can be influenced by social media trends, celebrity endorsements, and other factors unrelated to traditional investment fundamentals. • Lack of utility: Meme coins often lack intrinsic value or utility, being primarily driven by community interest, online trends, and speculative trading. • Market manipulation: Meme coins may be susceptible to increased risk of market manipulation including 'pump-and-dump' schemes, where the price is artificially inflated followed by a sudden crash. • Lack of transparency: Meme coins may have limited available information about their development teams, goals, and financials. This lack of transparency can make it challenging to assess the credibility and potential of a meme coin accurately. • Emotional investing: Meme coins often garner strong emotional reactions from investors, leading to impulsive decisions. Emotional trading activity can amplify losses.

Specific risks associated with stablecoins: There is a risk that any particular stablecoin may not hold their value as against any fiat currency; or may not hold their value as against any other asset. Stablecoins carry the following risks: · Depegging events: Depegging events may occur with stablecoins that fail to maintain adequate controls and risk mitigants. A depegging event is when the value of the stablecoin no longer matches the value of the underlying asset. This could result in a loss of some or all of your investment. • Counterparty risk: Counterparty risk arises when an asset is backed by collateral, involving a third party maintaining the collateral, which introduces risk if the party becomes insolvent or fails to maintain it. • Redemption risk: Redemption risk refers to the possibility that an asset's ability to be redeemed for underlying collateral may not be as anticipated during market fluctuations or operational issues. • Collateral risk: Collateral risk refers to the possibility of the collateral's value declining or becoming volatile, potentially impacting the asset's stability, particularly when it is another crypto-asset. • Exchange rate fluctuations: Stablecoins, often denominated in US Dollars, expose investors to fluctuations in the USD:GBP exchange rate. • Algorithmic risk: Algorithm risk refers to the possibility of an asset's stability being compromised due to unexpected failure or behaviour of the underlying algorithm, potentially leading to loss of value.

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