A Beginner’s Guide to Buying Tezos Cryptocurrency in Australia
If you’re based in Australia and wish to buy Tezos – the process is very simple. All you need to do is find a regulated online broker that offers competitive fees, deposit some funds with a debit/credit card, and decide how much you wish to buy.
The guide will explain the best way to buy Tezos (XTZ) in Australia. You will also understand the step-by-step method of buying XTZ in a cryptocurrency exchange.
Tezos (XTZ) is the native currency of the Tezos blockchain, a direct competitor of the Ethereum blockchain. However, the token is not as popular as Ethereum or Bitcoin and is currently trading on a small number of crypto exchanges. This makes it a bit more challenging to trade Tezos. If you’re looking to buy Tezos in Australia, the guide below will provide all the information you need.
What's in this guide?
The guide will provide information about where to buy Tezos and which place you can buy the token with AUD. It also outlines a step-by-step guide when buying Tezos in a crypto exchange.
The guide further explains how to sell Tezos, which wallet to hold Tezos, and things to consider before buying the token.
Where to Buy Tezos in Australia
The most obvious place to buy Tezos in Australia is in a cryptocurrency exchange. Some of them list Tezos (XTZ) as trading pairs on their platform.
List of the best Exchanges to buy Tezos (XTZ) in Australia:
Looking where to buy Tezos in Australia right now? Below you will find 4 of the best brokers that allow you to buy Tezos in Australia.
- eToro - Best broker to buy Tezos (XTZ) in Australia
- Binance - Best exchange to buy Tezos in Australia for asset diversity
- Coinbase - Best exchange to buy Tezos (XTZ) for beginners
- OKEx - Best broker to buy XTZ in Australia for low-cost
A Step-by-Step Guide to Buying Tezos in Australia
If you’re looking to buy Tezos in Australia, you have two options: buying Tezos with fiat currency or buying Tezos with another cryptocurrency. The second option is usually the easier of the two.
Buying Tezos With Other Cryptocurrencies
This is the right option if you already have another cryptocurrency in a wallet. For example, if you have Bitcoin (BTC) or Ethereum (ETH) in a crypto wallet, you can always register with an exchange and buy Tezos directly with them. Almost all crypto exchanges in Australia allow users to fund their accounts with BTC or ETH, so buying Tezos with these tokens will be easy.
Buying Tezos With Fiat Currency
This is the only option available if Tezos is the first cryptocurrency you are buying or if you don’t have any other cryptocurrency in a wallet. The step-by-step process below will guide you through the process of buying Tezos with AUD.
Step 1. Register for an account with an exchange
The first thing you should do is to register with a crypto exchange that accepts fiat currency as deposits. When you find one that accepts AUD, proceed to registration with them.
Note that you may be required to provide certain details like your email address, proof of ID, residential address, and employment detail. These details are to keep the Kyour Your Customer (KYC) policies of regulators. Once these details are provided, enable two-factor authentication and complete your registration.
Step 2: Deposit funds into your account
After registering with the exchange, proceed to the deposit section and enter the amount you want to deposit. Exchanges provide different options for users to deposit fiat currency to their exchange account.
So, whether it’s through PayPal or direct bank transfer, you should be choosing the most convenient depot method for you. Once your deposit is approved, an email confirmation will be sent to you.
Step 3. Buy Tezos
Here is the part where you will carry out a buying order to get Tezos deposited to your exchange account. But understand that many exchanges may not have the provision for the direct purchase of Tezos using fiat currency.
If your exchange does not have Tezos/AUD pair, you need to buy Bitcoin or Ethereum with AUD instead. After buying Bitcoin, you can easily exchange it for Tezos by clicking on the BTC/Tezos pair.
The order page is simple. You will be asked to enter the amount of Tezos you are buying and the order type (either market order or limit order). When your order is executed, an email notification will be sent to you. That’s simply the way to buy Tezos in Australia.
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How to Sell Tezos
Selling your Tezos token is also not difficult. Just log into your exchange account and navigate to the exchange section. Follow the similar step you took in step 3. If you’re selling Tezos in exchange for AUD, you can buy Bitcoin first before buying AUD with the BTC.
Choose the amount of Tezos you want to sell and follow the instructions presented on the exchange.
Which Wallets Can I Use to Hold Tezos?
You may want to keep your Tezos in a wallet for safety. Let’s face it, a crypto exchange is not the safest place in the world to keep cryptocurrencies. That’s because it can be attacked, causing users to lose their money. If you’re worried about the safety of your Tezos, get a hardware (offline) wallet where you can hold the tokens securely.
How Tezos Works
Tezos platform is used for smart contracts and decentralized applications (Dappa). There are many other similar platforms, but it’s the world’s first self-evolving blockchain.
It competes directly with Ethereum since they have a similar value proposition when it comes to financial services decentralization. Tezos is not as popular as ETH, but it’s gradually seeing increased adoption within the crypto community.
Things to Consider Before you Buy Tezos in Australia
If you’re looking to buy Tezos in Australia, the following are some important things you should consider.
This is one of the major issues with Tezos because it can only be traded on a handful of exchanges. It’s probably because those who participated in the token’s ICO waited too long before receiving their tokens.
The present activities around Tezos suggest the token may have a wider adoption level in the coming years. For investors, this should be a good sign.
TZX is the store of value of the Tezos network. Apart from using it as baking rewards, it is also used to power smart contracts and pay for transactions.
eToro – Best Broker to Buy Tezos XTZ in Australia
eToro have proven themselves trustworthy within the crypto industry over many years – we recommend you try them out.
Virtual currencies are highly volatile. Your capital is at risk.
Where can I buy Tezos
The safer place to buy Tezos cryptocurrency is through an exchange. Apart from being safe there, it’s also more convenient.
Can I buy Tezos with fiat currency?
Yes, it’s possible to buy Tezos with fiat currency, but only very few exchanges offer this feature.
How can I hold Tezos tokens?
For those looking to hold their Tezos tokens, the best thing to do is to get either a cold or hot wallet.