The Tezos main net was launched in June 2018, 4 years after its founder Arthur Breitman wrote the project’s white paper. Tezos is a blockchain most comparable to Ethereum and is built with the capability to host smart contracts. The platform calls itself “secure, upgradeable and built to last.” Alongside its governance-first approach, Tezos looks to ensure its relevance as the cryptocurrency market evolves. XTZ is the official governance token of Tezos, people who hold it can vote on protocol upgrades put forth by the Tezos development team. If you are wondering how to buy XTZ in Canada, Netcoins is a publicly-traded, fully regulated crypto trading platform. With 0% funding fees, free cash withdrawals, and live customer support service seven days a week, we make it simple for Canadians to buy XTZ and other cryptocurrencies.
1. Create an Account
Visit the Netcoins website and click on the sign-up button. Or download the Netcoins app from the app store for mobile. Enter your email address, create a strong password, and agree to the terms and conditions. You will receive a confirmation email, click on the link to verify your email address.
2. Fund It
Choose your preferred funding method: bank wire transfer, interac e transfer, crypto deposit, or cash deposit. Follow the prompts to transfer funds into your Netcoins account. The process is quick and incurs no fees.
3. Start Trading
What Is Tezos's Self-Amending Chain?
Tezos’s self-amending chain refers to a formalized process of upgrades that improve the blockchain over time. It aims to keep Tezos relevant amid an ever-changing crypto market by allowing XTZ Token holders to vote on new proposals. The self-amendment looks to differentiate Tezos from other cryptocurrencies, which have faced hard forks in the past because of a lack of formal governance structure. Some of the most prominent examples include Bitcoin and Bitcoin Cash, alongside Ethereum and Ethereum Classic. Hard forks split communities against each other and are generally a negative for a crypto project. Tezos looks to avoid this and use their community to their advantage through their self-amending chain.
Why Buy Tezos?
Tezos is a blockchain based on smart contracts and is most comparable to Ethereum. The project differentiates itself by having a much more advanced infrastructure which Tezos says will evolve and improve over time without the risk of a hard fork. Tezos is looking to remain state of the art long into the future through its ever-evolving infrastructure and advanced smart contracts which have endless use cases. Many decentralized applications have chosen to operate on the Tezos network, including blockchain games, decentralized finance (DeFi) protocols, non-fungible token (NFT) marketplaces, and exchanges. XTZ is the official governance token of Tezos, holders have the right to vote on proposals put forth by the development team. Buying XTZ is an investment into the future of Tezos and can be used to exert influence on the project and earn yield through staking.
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What Can You Do With XTZ?
XTZ holds two main functionalities, governance and staking. Governance enables you to vote on proposed changes to the Tezos protocol. Staking (what Tezos refers to as baking), allows you to earn yield on your holdings. Participating in both functionalities involves the same setup process. First, transfer your XTZ holdings to an eligible Web3 wallet such as Atomex or Exodus. It is important that the wallet offers built-in delegation, which is the simplest way to bake tokens as it removes complexities and minimum holding requirements. Wallets with built-in delegation take care of the setup process and allow pool assets together to reach minimum token requirements. Delegation allows you to bake your tokens, enabling you to earn both a yield on your XTZ Tokens and to vote on protocol changes.
How Much XTZ Can I Buy
You don’t need to buy a lot of XTZ to get started! Our minimum purchase amount is 2 XTZ. Enabling anyone to gain exposure no matter how many dollars they have to invest.
FAQs
Why is KYC (Verification) required?
Netcoins Inc. is a licensed money service business under FINTRAC, and a registrant under the Provincial Securities Commissions, and adheres to the strict guidelines set by them for Money Transmitter Businesses and Securities Registrants. We are required to have a Know-Your-Client (KYC) process and compliance program in place. KYC is a process that allows us to verify the identity of our customers.
What do I need to provide for your verification process?
You will have to provide your email address, phone number and personal information including your first name, last name, address, date of birth and a piece of identification (like a driver’s license). Most users are verified at this point through our automated process. If you don’t pass the automated KYC process, you will have to go through an additional document verification stage. This is important and required as we are a regulated money service business.
How can I fund my account?
Your Netcoins account can be funded with a crypto deposit, Interac e-Transfer, or a bank wire transfer. Once you have funds in your Netcoins account, you’ll find that it’s super easy to buy XTZ in Canada.