ADVERTISEMENT

Buy Tezos by bank transfer, credit card, PayPal | Guide, best exchanges & brokers

Tezos is a blockchain platform for smart contracts and distributed applications (dApps) that calls itself a 3rd generation blockchain and competes with Ethereum. Conceptually, Tezos is very similar to Ethereum, as both projects want to create some kind of world computer and corporate blockchain.

However, there are significant differences in the technical implementation, as Tezos has developed a blockchain that can manage itself through on-chain governance and automatically carry out upgrade processes. Thus Tezos can be an interesting alternative to Ethereum.

If you are interested in buying Tezos, here is a simple and detailed description of how to buy XTZ and manage it in a wallet. If you want to see the current XTZ price before you buy, just check out our Tezos price chart. In our marketcap overview, you can check prices for more than 2.000 altcoins. Currently XTZ can only be found at very few exchanges and brokers. We’ll introduce you to the two best options.

Since the installation and use of a cryptocurrency Wallet can be a bit complicated for newcomers, we will continue to show you at the end of the article how to set up a free Tezos Wallet – step by step.

One of the best options to buy Tezos is Bitpanda. The Vienna-based cryptocurrency broker was founded in 2014 and is one of the largest and best-known exchanges in Europe. Due to its location in Vienna, Bitpanda is fully regulated and can therefore be classified as serious and safe.

In addition, Bitpanda stores almost all cryptocurrencies offline to ensure the best possible security for users’ deposits. For you as a user, this means that the your cryptocurrencies are not connected to the Internet, which is why they are protected against hacker attacks. It is also very pleasing that the Austrian exchange offers 2-factor authentication via the Google Authenticator App.

Another advantage of the exchange is that there are numerous payment options to choose from. In addition, Bitpanda currently offers four Fiat currency wallets for US dollars, euros, Swiss francs and British pounds. By using these wallets you can buy and sell cryptocurrencies. The Fiat Wallets should enable you to react as fast as possible to trends on the crypto market. So you don’t have to rely on long processing times by payment service providers and can exchange your cryptocurrencies for your local currency on Bitpanda within a few seconds. Very gratifying continues to be that the site is available in 3 languages: English, German and French is available.

>> Buy Tezos on Bitpanda now* <<

Setting up an account with Bitpanda

Opening an account with BitPanda is unfortunately not as uncomplicated as with other exchanges and brokers. However, registration and verification should not be an obstacle for you. Bitpanda’s instructions are very helpful. Apart from that, you can use this article as a guide. This is how it works:

First you have to visit the official website (click here!)* and click on the “Get started now” button. You will then be asked to provide some personal information: your name, e-mail address, password and country of residence. You also have to accept the terms and conditions and the privacy policy. Now click on the “Create account” button to apply for the account opening.

bitpanda registration

After you have confirmed your e-mail address via a link in an e-mail, you can log in to your Bitpanda account for the first time. When looking at the homepage you will notice that you have to verify yourself further in order to trade cryptocurrencies.

Verification at Bitpanda

The legal regulations in Austria stipulate that customers must fully identify themselves. Only after complete verification you can also make Fiat deposits at Bitpanda. The verification is carried out in a video identification procedure. A stable internet connection and a webcam are required. To start the process, click “Verify now” on the start page of your account.

verify bitpanda identity

First of all, you will be asked for the following personal data: your full address, a telephone number and your date of birth. To confirm this information you can either upload a copy of your passport or identity card. Bitpanda distinguishes between a “light verification” and a “full verification”: bitpanda verification light full

Light Verification

Light Verification is a document-based verification where you simply enter your personal information and then scan your ID document with your webcam. This process is carried out by a Bitpanda partner company called eID. The Light Verification offers you the following possibilities:

  1. Deposit and withdrawal of Fiat currencies (only) by bank transfer
  2. Trading of cryptocurrencies as well as gold and silver

Complete verification

With full verification, you can take full advantage of all the features of the Bitpanda platform, including the Bitpanda Global Exchange. The verification is performed by one of the two partner companies called IdentityTM and IDNow.

For the verification we made a phone call via webcam. Numerous questions were asked and personal data were verified by means of the identity document. In addition, we had to declare that we wanted to trade cryptocurrencies (despite “the risks”) out of our own responsibility. In total the phone call took about 4-5 minutes. After successful verification, you will have a limit of 2,500 EUR for deposits via the following payment methods:

  1. EPS
  2. GiroPay
  3. SOFORT

This limit will be completely removed once you have made a verification deposit. You must do this by bank transfer, SOFORT or GiroPay /EPS. The amount must be between 25 EUR and 2,500 EUR.

Tipp:
The limit will be lifted once you have made your first deposit. If you want to deposit a larger amount with your first deposit, you can also make a bank transfer. By bank transfer you can also deposit higher amounts immediately after verification. These are also considered as a verification deposit.

The complete verification offers you the following possibilities:

  1. All trading features including Swap and Savings plan
  2. Deposit and withdrawal of Fiat currencies by bank transfer, credit card and various online payment service providers, such as SOFORT, iDEAL, Neteller, Skrill, Zimpler, etc.

>> Buy Tezos now on Bitpanda* <<

Limits for the purchase of Tezos

The deposit and withdrawal limits for Fiat currencies on Bitpanda differ. They differ according to verification status and selected deposit or withdrawal method. The following tables show the deposit limits for euro deposits:

Not verifiedLight VerificationFull verification
Bank transfer (SEPA)Day (24h)0,00 EUR49.999,00 EUR49.999,00 EUR
Month0,00 EUR5.000.000,00 EUR5.000.000,00 EUR
Total0,00 EUR100.000.000,00 EUR100.000.000,00 EUR
Credit cardDay (24h)0,00 EUR0,00 EUR2.500,00 EUR
Month0,00 EUR0,00 EUR300.000,00 EUR
Total0,00 EUR0,00 EUR5.000.000,00 EUR
Online PaymentsDay (24h)0,00 EUR0,00 EUR10.000,00 EUR
Month0,00 EUR0,00 EUR300.000,00 EUR
Total0,00 EUR0,00 EUR10.000.000,00 EUR
Payment method(s)-SEPAEPS, GiroPay, SOFORT, Netelle, SEPA, Skrill, VISA, Mastercard, Zimpler, iDeal

The following tables show the deposit limits for USD deposits:

UnverifiedLight verificationVerified
Online PaymentsDaily limits (24h)USD 0.00USD 0.00USD 11,151.50
Monthly limitsUSD 0.00USD 0.00USD 334,545.13
Total limitsUSD 0.00USD 0.00USD 11,151,504.34
Credit cardDaily limits (24h)USD 0.00USD 0.00USD 2,787.88
Monthly limitsUSD 0.00USD 0.00USD 334,545.13
Total limitsUSD 0.00USD 0.00USD 5,575,752.17
Payment options--Skrill, VISA, Mastercard

Fees for the purchase of Tezos

All prices on Bitpanda are real-time prices. This means that all fees for the purchase or sale of cryptocurrencies are already included in the displayed price. The prices are updated in real time. If you wish to purchase a cryptocurrency, the price quoted is valid for 60 seconds until it is updated again.

In order to prevent confusion, Bitpanda will send you the exact amount of coins that will be displayed when you confirm your order. The fees for the purchase of Bitcoin, for example, are currently 1.49 percent and for the sale of 1.29 percent. After the purchase, your wallet will display the current value for the corresponding amount of cryptocurrency you own. This amount corresponds to the base price (excluding fees). You will see the selling price (with fees) before you conclude your trade. The difference between the buy and sell price is known as the spread.

The table below gives you an overview of minimum deposits, withdrawal fees and minimum withdrawal amounts:

UnverifiedLight verificationVerified
Online PaymentsDaily limits (24h)USD 0.00USD 0.00USD 11,151.50
Monthly limitsUSD 0.00USD 0.00USD 334,545.13
Total limitsUSD 0.00USD 0.00USD 11,151,504.34
Credit cardDaily limits (24h)USD 0.00USD 0.00USD 2,787.88
Monthly limitsUSD 0.00USD 0.00USD 334,545.13
Total limitsUSD 0.00USD 0.00USD 5,575,752.17
Payment options--Skrill, VISA, Mastercard

If you pay in a Fiat currency other than EUR, USD, GBP and CHF, exchange fees may also apply. However, these are not charged by Bitpanda but by the payment service provider and are therefore not included in Bitpanda’s prices. There are no minimum deposit and withdrawal limits when sending cryptocurrencies to other Bitpanda users or during an internal wallet transaction. There are also no fees.

Buy Tezos at Bitpanda: How it works!

  1. Click on “Deposit” button in the upper right corner.bitpanda deposit money
  2. Select your desired Fiat walletbitpanda deposit money to buy Tezos
  3. Select a payment method. These vary according to country and national currency.
  4. Enter the desired amount and click on “Summary”:buy bitpanda Tezos by bank transfer
  5. To buy cryptocurrencies, you have to waive your right to resign. In addition, you must confirm that you have the power for the payment method used (your account!). You will also receive a PIN via SMS (not for bank transfers), which you have to enter.
  6. You will then be redirected to the website of the selected payment provider or see the details for the bank transfer. When this step is completed, you will be redirected to Bitpanda and the amount will be credited to your Fiat Wallet (may take some time).
  7. When your money has arrived, you can click on “Trade” in the upper right corner.
    Buy Tezos XTZ on Bitpanda
  8. Click on “Buy” and select Tezos (XTZ) and your wallet.
  9. Select the Fiat Wallet with which you want to make the payment and specify the quantity you want to buy.
  10. In the last step you will see a summary of your order. After you have waived the right of withdrawal again, click on “Buy Now” to complete the purchase.

Buy Tezos on Bitfinex

Bitfinex is one of the oldest crypto exchanges on the market and was founded in 2012. Bitfinex now offers over 100 different cryptocurrencies for trading, including Tezos (XTZ). The first step in buying Tezos is to create an account on the exchange. Click on the following link which will take you directly to the registration page. Afterwards you have to click on “Sign Up” in the navigation and assign a username and password.

Tezos exchange Bitfinex Registration

When you have entered all the necessary information, click on “Open Account“. You will then receive an email from Bitfinex with a confirmation link. So go to your mailbox immediately and click on this link. Your account will be activated immediately. Now you can log in.

If you want to buy Tezos now, there are two options:

  1. You verify your identity and deposit USD to your account.
  2. Or you transfer Bitcoin, Ethereum or Tether to the wallet of Bitfinex and trade one of these cryptocurrencies for XTZ.

Depending on whether you already own cryptocurrencies, both options may be interesting for you. We show for both options how the Tezos purchase works in detail.

Buy Tezos with USD or Euro

As mentioned before, you must first verify your identity in order to buy Tezos with USD or Euro. Click in the upper right corner on “Account” and then on “Verification“. You arrive at this view:

Bitfinex Verification

Upload all necessary documents and enter the necessary information. Once your verification has been confirmed, you can proceed to buy Tezos. Click on “Deposit” in the navigation menu. Now you can choose between different currencies: Euro, Pound, USD or Japanese Yen.

Bitfinex Deposit for Tezos Trade

Click on your local currency and follow the next steps to transfer your chosen amount to Bitfinex. Once the money has arrived, you can click on “Trading” in the navigation bar next to the Bitfinex logo. Now enter XTZ in the column under “Tickers”. Then select USD, for example, if you want to buy XTZ with USD, both are framed in red in the screenshot.

Buy Tezos on Bitfinex

Now you have to click on “Order Form”, which is located directly below. There are three different ways you can buy Tezos: “Limit”, “Market” and “Stop Limit”. We will briefly explain what the terms Limit and Market mean:

  1. If you place a “Limit” order, your buy order will only be executed if the limit price you set is reached. If the price cannot be reached, your order remains open. You can either leave your order or delete it and place it again.
  2. In contrast to the limit order, the market order is executed immediately at the current market price. Therefore, the Market Order is particularly suitable for beginners and investors who bring little time with them.

Choose “Market” and enter in the right column how much XTZ you want to buy. In the left column you will see the corresponding amount in EUR or USD, which you will spend for XTZ. When everything is entered, click on “Exchange Buy”. Your Market Order will then be executed immediately.

Buy Tezos on Bitfinex with USD or Euro

>> Buy Tezos on Bitfinex now* <<

Trading Tezos with Bitcoin

The other alternative is to send Bitcoin to your Bitfinex wallet and trade it for Tezos. We’ll show you how it works.

If you already have Bitcoin, you can simply send it to the Bitfinex Bitcoin Wallet. If you have yet to buy Bitcoin, please see our instructions on buying Bitcoin. During the purchase process you enter the address of the Bitfinex Bitcoin Wallet in the correct place as “Receive Address”.

You find your deposit adress by following this steps:

  1. Look at the navigation bar and click on “Deposit”.
  2. Now use the internal search and enter Bitcoin, click on Bitcoin.
  3. Now you can copy your Bitcoin Wallet address and paste it on another wallet from which you want to send Bitcoin to the Bitfinex Wallet. Please keep in mind that Bitfinex charges a fee for smaller deposits (less than 1,000 USD). This fee is 0.0004 BTC.

When your Bitcoins have arrived on your Bitfinex wallet, you can start trading now. Click on “Trading” in the navigation next to the Bitfinex logo. Then type XTZ into the search field in the “Tickers” tab and click on BTC, because you want to trade XTZ against BTC (marked red in the screenshot).

Trade Tezos for Bitcoin on Bitfinex

The next step is to click on “Order Form”. Here you select “Market”, because your purchase order should be executed immediately. In the right column, enter how much XTZ you want to buy. Directly next to it in the left column you can see how much BTC you will spend:

Buy Tezos with Bitcoin on Bitfinex

If all entries are correct, you can click on “Exchange Buy” and your purchase order should be executed immediately.

>> Buy Tezos on Bitfinex now* <<

Best free Tezos Wallet: Atomic Wallet

If you want the best possible protection for your Tezos tokens, you should buy a hardware wallet. Take a closer look at our hardware wallet comparison. Our test winner is the Ledger Nano X hardware wallet.

If you don’t want to spend money or only want to store small amounts of cryptocurrencies on your wallet, we recommend the free Atomic Software Wallet for Tezos. This gives you better security than keeping the Tezos on an exchange. The Atomic Wallet is a multi-currency wallet with which we have had very good experiences over the past two years. The Wallet can manage, besides Tezos, more than 300 cryptocurrencies. To install the wallet, you must first go to the official website and download the software.

Click on the following link, which will take you directly to the start page. The Wallet is available as desktop version for Windows, Mac, Ubuntu, Debian and Fedora. There are also mobile versions for iOS and Android in the respective App Store.Download Tezos Wallet

Depending on which operating system you are using, you can download the appropriate version. The download should not take very long (100 MB). If the download was successful, you will need to install the software. First you will be asked if you want to create a new wallet or restore an old one. Since you want to create a new wallet, you have to click on “New Wallet“:

Set up Tezos Wallet

Now you have to enter your password and confirm it again. Then the wallet is created. This is the most important step of the installation! The Atomic Wallet will now display your backup phrase. Write these 12 words on a sheet of paper. You must keep this in a safe place.

Tezos wallet backup

With the help of this phrase you can restore your account in case your PC or laptop breaks down. When you have successfully written down your seed, click on “Open Wallet“. The Wallet’s dashboard will now display numerous cryptocurrencies. Therefore click in the upper left corner of the search field and type “Tezos”. Now you already see your “Receive Address”, which you can insert as receiving address at Bitpanda or another exchange.

tezos wallet receive adress

If you want to send Tezos from your Atomic Wallet to another exchange or wallet, you have to click on Tezos. You will then receive the following overview in which you can enter the destination address:

send tezos from your wallet to an exchange

If you liked our guide, please rate it:

[ratings]

If you have any questions during the purchase process, please leave us a comment. We’ll be glad to help you!

About Author

Jake Simmons

Jake Simmons has been a crypto enthusiast since 2016, and since hearing about Bitcoin and blockchain technology, he's been involved with the subject every day. Beyond cryptocurrencies, Jake studied computer science and worked for 2 years for a startup in the blockchain sector. At CNF he is responsible for technical issues. His goal is to make the world aware of cryptocurrencies in a simple and understandable way.

Comments are closed.

Breaking crypto news

in your mailbox!

Send this to a friend