If you’re wondering how to buy Tezos (XTZ) in Canada, you’ve come to the right place. This post will walk you through exactly how to buy it using Newton, one of the top-rated crypto exchanges in Canada and the easiest way for Canadians to buy Tezos.
Newton is a particularly good choice for buying and selling Tezos because it verifies accounts instantly, supports more than 75 crypto assets, and has zero trading fees (aside from the spread). If you’re serious about crypto investing and want to work with a reputable, reliable exchange, I highly recommend Newton.
What Is Tezos (XTZ)?
Launched in 2017 by Kathleen and Arthur Breitman, Tezos (XTZ) is a decentralized blockchain network, whose main attractions are its smart contracts and its advanced infrastructure; when it was built, founders had in mind advancements in technology, and wanted to make sure they could be easily implemented. Tezos’ blockchain supports dApps and smart contracts. One of those recent implementations is the Bender Labs Wrap protocol, which allowed the Ethereum (ETH) and Tezos (XTZ) blockchains to be compatible; now you can complete transactions between the two.
Tezos uses a Proof of Stake (PoS) consensus algorithm, and investors who hold at least 8,000 XTZ can participate in votes and new initiatives; it works as a governance token. Keep in mind Tezos is an inflationary asset, meaning it doesn’t have limited supply and actually has a fixed issuance rate: Bakers earn 16 XTZ for creating new blocks, and Endorsers earn 2 XTZ for validating Bakers’ blocks.
There are currently 880 million XTZ in circulation, and throughout its lifetime it has maintained a healthy daily volume. During its Initial Coin Offering (ICO), Tezos raised $232 million worth of crypto split between Bitcoin and Ethereum. As of 2022 Tezos hasn’t been hacked.
Here are some other quick facts about Tezos:
|Asset Type||Blockchain Network|
|Market Cap||$2,506,931,001 USD|
|All Time High||$9.12 USD|
|All Time High Date||Oct 04, 2021|
Why you should trust me
ExperiencedI bought my first cryptocurrency (Bitcoin) in 2013, bought Ethereum in 2017, and have held active accounts with at least 5 exchanges since 2018.
UnbiasedAll of my selections are supported by multiple data points, including crypto thought leaders, security experts, and TrustPilot reviews.
Deep ResearchMy team and I spent more than 100 hours researching exchanges before choosing our top picks, and we update them almost daily as the industry continues to change.
Where To Buy Tezos In Canada
Here’s how to buy Tezos in Canada smoothly and easily:
1. Open Your Newton Account
Opening a Newton account is easy: go to their website, enter your name and email, and follow the prompts to upload a piece of government-issued ID to verify your account.
If you sign up using my referral link, you’ll get a $25 signup bonus upon depositing $100 or more into your account.
2. Fund Your Newton Account
Canadians can fund their Newton account through Interac e-transfer, wire transfer, or cryptocurrency transfer from an external wallet. I recommend Interac e-transfer, since it’s fast, easy, and totally free.
Your funds will appear in your account in 30 minutes or less.
3. Buy Tezos With Newton
Once you’ve funded your account, you can go ahead and buy however much Tezos you want. To do that with Newton, log in to the app or web platform, tap Trade (the icon with two arrows), enter the dollar amount you wish to purchase, and select Tezos from the dropdown menu.
Your order will be processed immediately, and your Tezos will show up in your account right away. And that’s it—you just bought Tezos!
Zero Trading Fees
Spreads: 0.2% – 0.7%
Why Newton Is Great For Buying Tezos
There are many reasons Newton is my exchange of choice for buying Tezos, but here are just three:
1. Extremely Low Fees
Newton doesn’t charge any trading fees, deposit fees, withdrawal fees, or any other types of fees you can think of. They even cover the first $5 on every crypto withdrawal, going above and beyond to save you money.
The only way Newton will make money your trades is through a narrow spread that’s charged on each trade. Newton’s spreads are very competitive with other exchanges, and you can see its live spread on Tezos on its Fees page.
2. Wide Variety Of Coins
Newton currently supports more than 75 crypto assets, so if you want to trade other altcoins aside from Tezos, Newton is your best bet for finding them.
3. Designed For Canadians
If you use a non-Canadian exchange, you generally have to fund your account with US dollars and pay foreign exchange fees ranging anywhere from 2-5%. Newton is a Canadian exchange, though, so you can fund your account directly with Canadian dollars without any fees.
Other benefits of Newton include the ability to fund your account via Interac e-transfer or from your Canadian bank account for free, plus the knowledge that you’re using a homegrown exchange that follows all current and anticipated Canadian regulations, ensuring your funds and crypto are always fully secure.
Where To Store Tezos
Storing Tezos is easy as long as you have the right crypto wallet to protect it and keep it secure. There are dozens of different wallets out there, each with their own set of features, many of which cost $100 or more to buy.
With Newton, though, you can skip expensive wallets altogether and just store your crypto right inside their app. Newton maintains third-party custodian partnerships with Fireblocks and Balance, which means they keep their users’ digital assets under cold (offline) storage at institutional-grade storage facilities. Other benefits of using Newton include:
- The widest selection of coins of any Canadian crypto wallet/exchange
- Newton performs daily off-site backups to ensure your crypto is always kept safe
- Open an account in 30 seconds
- $25 bonus when you buy $100 in crypto using my signup link
Newton is a widely trusted wallet and exchange I’ve personally used for more than a year. Whether you want to make your first crypto purchase or just spread out where you hold your coins, I can’t recommend Newton enough.
Zero Trading Fees
Spreads: 0.2% – 0.7%
Here’s how to buy Tezos in Canada:
- Open a Newton account using my referral link to get your $25 signup bonus.
- Deposit Canadian dollars into your Newton account with zero fees.
- Exchange dollars into Tezos with no commissions—you just pay the spread.
Buying Tezos In Canada FAQs
What Fees Are Involved With Buying Tezos?
Newton doesn’t charge any trading fees or commissions on Tezos, so you just pay a spread of around 0.2% – 0.7%.
Which Canadian Exchanges Offer Tezos?
Newton is the only exchange Canadians can use to buy Tezos today. Other exchanges like CoinSmart and Bitbuy may add support for Tezos in the future, but right now, Newton is the only option Canadians have.
How Do I Sell Tezos In Canada?
To sell Tezos, log in to your Newton account, go to Market -> Exchange (the arrows in the bottom-right of the app), and then set up the trade by entering the amount of Tezos you wish to sell. Once the sale is complete, you can withdraw your fiat currency into your bank account via Interac e-transfer or direct deposit.
Alternatively, if you wish to transfer your Tezos to a wallet outside of Newton, go to Market -> Exchange -> Withdraw -> Crypto to Wallet, select Tezos from the dropdown list, and enter your external wallet address. Always double-check your external wallet address before processing your withdrawal request, as cryptocurrency transactions can’t be reversed once they’ve been submitted.
Is Tezos A Good Investment?
At its current price of $2.81 USD, Tezos is down 69.19% from its all-time high of $9.12 USD on Oct 04, 2021. If the past is any indication, though, there’s a good chance Tezos will increase from here and challenge its all-time high again, probably when Bitcoin approaches its all-time high, too.
Of course, all cryptocurrency investments are volatile and uncertain, so I recommend that you only invest money you can afford to lose.
Tezos Price Prediction
Our price prediction for Tezos is $12.67 USD within 12 months. This equates to an increase of 351% from its current price of $2.81 USD, and assumes that Bitcoin will surpass its all-time high of $69,045 USD in the next 12 months, too.