Quick summary: Our recommendation is to use the crypto exchange Swyftx to buy Tezos. They have over 300 cryptocurrencies available, have a fantastic app and great customer support. You also get $20 free BTC once you start trading!
Australia has a good amount of popular and regulated crypto trading platforms, so it’s quite easy finding an exchange that has Tezos. While each one comes with its own feature-set and fee structure, most crypto exchanges function very similarly when it comes to buying crypto.
Let’s get into it!
How to Buy Tezos in Australia
There are only 4 main steps involved and it’s pretty straightforward:
1. Choose a crypto exchange
As mentioned above, we have plenty of options when it comes to Australian crypto exchanges. While that’s great, you ideally want to do a bit of research so you can use one that has a decent fee structure and more importantly, has Tezos in its list of cryptocurrencies.
Personally, we really like Swyftx, they have over 300 cryptocurrencies, a very smooth process for buying crypto, and their support team has been fantastic.
And if you sign up through our site, you’ll get 20$ worth of free BTC once you start trading, which is always nice.
So for this guide on buying Tezos, we’ll be using Swyftx as the exchange to go through. Any exchange would work of course, as long as they offer Tezos.
Also, take a look at our analysis of the best crypto exchanges in Australia If you’re looking to learn more about which exchanges we like.
2. Sign up with the crypto exchange
Once you’ve decided on which exchange to use, it’s time to sign up.
Swyftx has a very streamlined sign-up process in place. The first step is to fill in the sign-up form.
Next up is to go through their basic verification process, called a KYC, which is required by law here in Australia. This should be very quick and easy.
Once done, it’s time for the next step.
3. Funding your account with AUD
To buy Tezos, you first need to transfer AUD to your Swyftx account using one of the many deposit methods available. From bank transfer to PayID, POLi pay and credit cards, plenty of options to choose from.
4. Buy Tezos
The final step is to go to their asset list, find Tezos, navigate to the buy section, and then trade your AUD for some XTZ. Once you’ve bought Tezos, you can track how much you’ve gained or lost either in the app (they have a great app), or on desktop on the left-hand side under your cryptocurrency list.
Where to Buy Tezos (XTZ)
|5/5||300+ cryptocurrencies||Visit Swyftx|
|4/5||200+ cryptocurrencies||Visit Coinspot|
|3/5||400+ cryptocurrencies||Visit Binance|
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How to Sell Tezos
If you’re thinking about selling Tezos, just follow the steps below.
- Sign in to the crypto trading platform (like Swyftx).
- Click on Tezos in your list of cryptocurrencies, or find your trading account if you’re using an exchange with different accounts.
- FInd the sell section and sell Tezos for AUD, or trade it for another cryptocurrency.
Frequently Asked Questions
Is buying Tezos in Australia legal?
Yes, you can legally buy and trade cryptocurrencies in Australia. We do of course recommend only using crypto exchanges regulated by AUSTRAC.
How to buy Tezos with PayPal?
Unfortunately, most crypto exchanges in Australia don’t support PayPal. The only exchange that you could use is eToro, but their cryptocurrency list is quite limited so you might not find Tezos. Have a look on their site first, you might be lucky.
How to buy Tezos with a credit card or debit card?
Most top exchanges support buying crypto with a credit or debit card. We would recommend Swyftx to buy Tezos with your credit/debit card.
Tezos is a blockchain network that uses smart contract technology. It is very similar to Ethereum. However, there is a significant difference. Tezos wants infrastructure that is better. It can continue to grow and improve without worrying about hard forks. This is what both Bitcoin and Ethereum have known since their inception. XTZ holders have the ability to vote on Tezos' proposals for protocol upgrades.
Tezos, an open-source platform claims it is "secure and upgradeable" and can be used in high-value cases. Tezos claims its approach is futureproof and will "remain the state of the art long in the future." This means that it can benefit from developments in blockchain technology.
Tezos' technology first appeared in a whitepaper published in September 2014. After a series of delays, the Tezos mainnet launched four years later.
Tezos provides a unique method to stake XTZ. This is a standard practice on all blockchains but it's not the only one. Participation in the governance of the network can be done by "baking", which allows participants to stake 8,000XTZ. This is a financial incentive to be honest.
This four-step process takes approximately 23 days. It involves voting on proposed changes to the blockchain's code by Bakers. Proposals that are supported by a supermajority will be tested for 48 hours using a testnet.
Tezos is unique because it has been used in a number of prominent businesses. Societe Generale (a French bank giant) announced that it would experiment with a central bank digital currency in September 2020.
Coinbase and Binance are two of the most popular cryptocurrency exchanges. They have announced that they will support Tezos staking. Based on how many XTZ users have, they can earn rewards. This feature isnâ€™t available across all digital assets.