How To Buy Tezos (XTZ) in Edge

July 7, 2020

The purpose of the Tezos project is to create a secure and reliable smart contract platform in which digital assets and financial applications can be created and utilized.

The Tezos community promotes unity and has built Tezos on the premise that chain-forks are problematic. Blockchain based forks happen when different ideological constituencies or interest groups within a blockchain based community split and go their own way. We’ve seen this happen in Bitcoin, Ethereum, and many other projects.

The Tezos project also boasts of something called “Formal Verification”. Formal verification, in this context, means that developers working with smart contract code on the Tezos platform can mathematically verify certain properties about those programs on the Tezos network without having to run them and “see what happens”

To learn more about Tezos check out our previous blog post, covering the who, what, and why of Tezos.

Here’s how you can acquire XTZ in Edge:

Crypto to XTZ

First, you need to create a Tezos wallet.

Click on the “+” symbol at the top right of the Edge App.

Type in the wallet type “Tezos” and tap on the “Tezos” option.

Type in and search for the fiat denomination you want to use. I chose the USD as my fiat denomination. You can choose any that are available.

You can name your wallet whatever you please. After doing so tap on “Next”.

This scene checks to make sure all your preferences are correct. Tap on “Create Wallet” if they are.

Your new Tezos Wallet should be at the bottom of your wallet scene.

If you already have a crypto-asset, all you have to do now is go to our crypto-to-crypto exchange scene and swap any asset you hold for XTZ. There is no KYC/AML needed.

Go to the crypto-to-crypto exchange scene by tapping on “Exchange” on the bottom right of your Edge App.

Choose a Source Wallet and choose your Tezos wallet as the “Receiving Wallet” and tap “Next”.

Our exchange partner Coinswitch won the right to perfrom this swap. “Slide to Confirm” when ready.

Your XTZ should show up in your Tezos wallet in 5-30 min.

Fiat to XTZ

If you want to go from fiat to XTZ there are a few preliminary steps.

First go tap “Buy” at the bottom of your screen.

Type in the country you have financial accounts in and choose that country.

Next, choose the exchange option that is most appropriate for you and complete their on-boarding process.

Once you have bought an asset like Bitcoin, Ethereum, or Litecoin and it has been deposited into your wallet, you can now swap that asset into XTZ as described in the beginning of the blog.

If you have any trouble or questions with any of these steps please reach out to our support team at support@edge.app. We’ll be happy to walk you through the process and answer any and all of your questions.