So, what is Tezos?
Tezos is an open-source platform that can evolve by upgrading itself. It was created to provide developers with the tools necessary to create blockchain-based applications. Tezos has its own native currency XTZ.
Tezos can upgrade itself through an in-protocol amendment process without the need for a hard fork, meaning it accelerates innovation and reduces the likelihood of contentious splits (self-amendment). It also coordinates stakeholders within one network over a long period of time. This type of upgradability gives developers a strong assurance that the protocol will operate smoothly long into the future. In conclusion, Tezos was built to stand the test of time.
Tezos uses proof-of-stake to reach a consensus on the state of the blockchain. It also features optional delegation, which allows any stakeholder to participate in consensus without giving up custody of their tokens (proof-of-stake). Tezos’ approach to consensus is called Liquid Proof of Stake. POS is energy efficient, increases the cost of 51% attacks and avoids environmentally wasteful proof-of-work. Proof-of-stake also improves scalability and encourages incentive alignment.
For more information on Tezos, you can visit their official website here.
You can also read more about Tezos on the CoinMetro blog here!
How to buy or sell XTZ on CoinMetro
How to receive/deposit XTZ
For all in-depth information on how to deposit XTZ into your CoinMetro account, please click here.
How to send/withdraw XTZ
For all in-depth information on how to withdraw XTZ from your CoinMetro account, please click here.
Important Note - To request a withdrawal, your account profile needs to be verified as well as having the funds to cover your withdrawal. The first time a withdrawal is made to a destination, the destination needs to be verified via e-mail. If you have 2-Factor Authentication enabled for withdrawals, you will be asked to input the code for each withdrawal, approved or not. We suggest enabling 2-Factor Authentication to protect your account.
Withdrawals waiting for approval can be cancelled and withdrawal status can be found by selecting the wallet on the GO! Dashboard. Approved withdrawals cannot be cancelled. If there is no Cancel button, there should be a transaction ID (TXID). This is a link to the relevant tx hash (Transaction Hash) on a blockchain explorer website.
We hope this article has given you all the information you need on buying, selling, depositing and withdrawing XTZ.
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