What is Tezos?

Tezos is a blockchain-based, decentralized protocol and smart contract platform, similar to Ethereum, EOS or Tron. A key feature of Tezos is a voting procedure that enables all stakeholders to take part in the governance of the platform. XTZ is the name of the token underlying the Tezos protocol.

How to sell Tezos?

Tezos can be bought on cryptocurrency marketplaces. To sell Tezos, you need to open an account with one and verify your identity. The verification process may take from minutes (by showing your ID to an agent using videochat) to several weeks. Afterwards, simply transfer money with your preferred payment method to the marketplace to sell Tezos. I if your chosen marketplace does not provide a wallet service you may additionally also need to setup a wallet to store Tezos.

Where to sell Tezos?

You can sell Tezos on two major types of marketplaces.

Exchanges resemble traditional stock exchanges (such as the NYSE or NASDAQ) where individuals can trade Tezos with other buyers and sellers. Cryptocurrency exchanges are thereby responsible for matchmaking, that is for determining the price of Tezos and finding enough buyers and sellers. As a result, there is no personal contact between buyers and sellers. Most cryptocurrency exchanges are directed towards professional traders and offer many professional features. This is also reflected in their user interfaces which may be confusing for beginners.

Brokers offer Tezos out of their own asset stock. This means that the broker is the selling party if you sell Tezos. This is contrary to exchanges where transactions occur between individuals. The prices cryptocurrency brokers are usually aligned on current marketplaces. However, brokers charge a markup or markdown that is more expensive than the trading fees charged by exchanges. Broker services are usually easy-to-use and beginner-friendly.

Besides exchanges and brokers, there are also peer-to-peer (P2P) directories where individuals may be able to trade Tezos directly between each other without an intermediary. However, only few P2P directories list Tezos.

What to consider when selling Tezos

After learning about the different types of marketplaces you may are probably wondering: “But, what’s the best marketplace for me?” Rest assured, we have you covered: Cryptoradar lists some of the most popular places to sell Tezos from all over world. All you have to do is specify what you are looking for in an exchange or broker and use our filters to choose a marketplace of your liking.

Verification: Most marketplaces will require you to verify your identity (e.g. by uploading a copy of your passport as well as a utility bill to proof your residency) before you can sell Tezos. This process can take anywhere from minutes to several weeks.

Wallet Service: A wallet is a piece of software where you can store Tezos. If you are new to cryptocurrencies, look for marketplaces that already provide a wallet service. Please note, however, that storing Tezos in a wallet that you are managing yourself is the safer option but it requires some learning effort. We’ve collected some basic info about different types of wallets here.

Prices & Fees: The price of Tezos is determined by supply and demand. Hence, its price will rise and fall depending on the number of people willing to sell and sell Tezos. When comparing prices on different types of marketplaces, exchanges will usually have lower prices and fees than broker services. Besides trading fees there are often fees for deposits and withdrawals.

Payment method: You need to transfer money to a marketplace before you can sell Tezos. Most exchanges only offer the possibility to deposit money using wire transfer (which can take up to a week). Good broker services offer simpler and faster payment methods such as credit card at an extra payment fee.

Security: Security also plays a major role when you sell Tezos. Filters on Cryptoradar help you select marketplaces that offer certain security features such as two-factor authentication (2FA) or cold storage. Please note that we would like to encourage you to not keep significant amounts of fiat (USD or EUR) and cryptocurrencies stored on marketplaces, as they may be affected in the event of a cyber attack.

When to sell Tezos?

Is now a good time to sell Tezos? We don’t know. However, if you are looking at a specific price at which you would like to sell Tezos, we can help you to not miss a favorable opportunity: Sign up for a Cryptoradar account and set up a price alert to be notified when Tezos trades below or above your target price.