Looking for where to buy Tezos (XTZ) in Canada? This guide covers the top Tezos exchanges you can use.
Tezos is an open-source, programmable blockchain platform for creating and hosting decentralized applications (DApps) and digital assets.
Read on to learn about how to invest in Tezos.
How To Buy Tezos in Canada
1. Open an account: Create an account at a cryptocurrency exchange that offers Tezos. Because this altcoin is not as popular as Bitcoin, Ethereum, or Solana, only a handful of exchanges support it in Canada.
2. Fund your account: After opening your crypto account, fund it using Canadian dollars or transfer in your existing crypto assets from an external wallet.
3. Buy XTZ: Place a ‘buy’ order for Tezos. Some exchanges offer XTZ-crypto and XTZ-CAD pairs, so you may not need fiat currency to buy Tezos.
4. Store Tezos: It is generally advised to keep your cryptocurrency offline using a hardware wallet like Ledger. You can also leave your Tezos assets on the exchange.
Where To Buy Tezos (XTZ) in Canada
The top cryptocurrency exchanges offering Tezos in Canada are:
1. Netcoins
Netcoins is a Canada-based crypto brokerage offering Enjin Coin, Chiliz, and a host of other altcoins. It is owned by BIGG Digital Assets, a company listed on the Canadian Securities Exchange (CSE).
Its top features are:
- Multiple coins, including ENJ
- 0.50% trading fee; free deposits and withdrawals
- Crypto Visa Card – Netcoins Pay
- User-friendly platform for beginners
- Almost instant account verification
Netcoins
Trade several popular coins
Excellent crypto broker for newbies
Charges trading fees + undisclosed spread in prices
2. Wealthsimple Crypto
Wealthsimple Crypto is a top crypto brokerage in Canada offering 50+ coins. It is on the same platform as the company’s Wealthsimple Trade product, a no-commission brokerage for stocks and ETFs.
Its top features include:
- Trade crypto coins, stocks, and ETFs in one place
- 50+ coins, including XTZ
- 1.5% to 2% trading fee; free withdrawals and deposits
- Canada-based and FINTRAC-registered Money Service Business
- User-friendly for beginners
Wealthsimple Crypto
Trade several cryptocurrencies
Excellent trading platform
1.5% to 2% trading fee
Get a $25 bonus when you deposit $200+
3. Newton
Newton is a Canadian crypto brokerage platform available in all provinces and territories. It is one of the best places to buy Tezos. Its top features are:
- Instant verification
- User-friendly for beginners
- 70+ coins, including XTZ
- 2% trading fee with free deposits
- Canada-based and FINTRAC-registered Money Service Business (MSB)
Newton
Trade several popular coins
Excellent crypto broker for newbies
Up to 2.20% trading fee
Get a $25 bonus when you trade $100
How To Sell Tezos
Selling Tezos (XTZ) is just as easy as buying it. The steps are:
- Sign in to your crypto exchange account and search for your Tezos wallet.
- Place a ‘Sell’ order for XTZ at either the current market price (market order) or a specific price you prefer (limit order).
- When your sell order is completed, the cash proceeds are added to your fiat balance.
What To Look For in a Tezos Crypto Exchange
You should consider several factors when choosing an exchange to invest in Tezos and other cryptocurrencies.
Some of my top considerations are:
Trading fees: Choose a crypto exchange that has competitive trading fees. Fees eat into your investment returns, and the lower they are, the better.
Security: Investigate the security measures put in place by the exchange to secure your assets. Security features can include 2-factor authentication, cold storage, insurance, etc.
Crypto selection: Confirm that the exchange offers the coins you plan to buy and sell.
Funding options: It is better to have multiple ways to fund your account such as crypto deposits, debit cards, Interac e-Transfer, credit cards, bank wire, etc.
Crypto withdrawal options: The exchange should give you the option to withdraw your crypto to an external wallet if you so wish.
How to Store Tezos
You can store Tezos using a variety of hardware and software wallets.
The most popular hardware wallets in Canada are:
What is Tezos?
The self-upgradable Tezos blockchain is built with users’ participation and governance at its core and aims to address key barriers facing blockchain adoption.
To achieve that, Tezos split cryptocurrencies and blockchain governance into two: On-chain governance and off-chain governance, which attracted much public interest.
Tezos holders are responsible for governing the Tezos network and voting for upgrades and the protocol’s governing rules.
Once possible changes are voted on and agreed upon, the software makes automatic upgrades and updates across all the network nodes, which helps to achieve both decentralization and self-governance.
This puts the power of directing the future of the Tezos protocol into the user’s hands, which helps ensure the security of projects and drive satisfaction for community-backed projects and applications.
By embracing long-term upgradability, smart contract safety, open participation & collaboration, and self-upgradability, the Tezos blockchain is built to last with little to no chances of a hard fork.
XTZ is the native token of the Tezos blockchain, and the token holders have the right to vote on any future changes to the network rules. Users must stake or bake 8,000 XTZ to become a validator node or baker on the network.
Tezos Canada FAQs
While Tezos is not legal tender in Canada, it is legal for anyone to buy it in Canada.
Tezos, like every other cryptocurrency, is a speculative investment, and you can lose or make money when you invest in it. If the crypto market does well, there’s a chance Tezos will increase in price. If there is a prolonged crypto bear market or the government bans Tezos, its value could go to zero.
zos in Canada using VirgoCX, Binance, Wealthsimple Crypto, or Newton.
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Disclaimer: Cryptocurrency is a volatile and speculative investment. If you decide to invest, we recommend you do your own research and only commit funds you can afford to lose. The author may own one or more of the crypto assets mentioned in this article.
