Top 3 Centralized Exchanges in Tezos

Tezos is a blockchain that can self upgrade. XTZ holders can vote on changes, and once approved, the chain upgrades itself. This should avoid forks. In other words, there won’t be two different chains with two currencies. Now, to buy XTZ, most users will visit a centralized exchange.

So, we will look into the best three centralized exchanges in Tezos in order to buy ZTX.

Bitforex

Bitforex ranks #109 on CoinGecko’s list of centralized exchanges. It offers 208 coins and 284 different pairs. The daily volume is $1.2 billion. Furthermore, they boast 3.22 monthly visitors. It’s interesting to point out that this exchange never saw a hack. However, it didn’t offer an insight in its reserves.

Now, it’s interesting that we know Tezos for its DeFi projects. However, most people that buy their XTZ tokens will most likely do this on a centralized exchange. Bitforex is one of them, and they facilitate a lot of XTZ trading. You can find their headquarters in Hong Kong. However, they also registered in the Seychelles. You have a few trading options, for instance, spot trading, perpetuals, or copy trading.

The platform is available in over 200 countries. It offers its services in five languages, including English, Portuguese, and Chinese. Furthermore, it offers an NFT marketplace and a launchpad. For Tezos, it offers the XTZ/BTC pair. Although it has an earn program, Tezos is not part of this. The picture below shows the XTZ/BTC trading pair taking first spot on the CoinGecko markets.

Tezos on Bitforex

Source: CoinGecko

XT.com

XT.com comes in at rank #40 in the CoinGecko list of exchanges. It has a daily volume of $657 million. Their number of monthly visitors stands at 7.1 million. XT.com offers 675 coins and 1,071 trading pairs. Like Bitforex, it doesn’t share information on its reserves. It was founded in the Seychelles but has its operating headquarters in Dubai.

The platform offers three XTZ trading pairs. The first pair is XTZ/USDT. It also offers the same pair with either 3x long or 3x short. XT.com offers quite a lot of different trading options. For example, spot-, margin-, derivatives-, or ETF- and P2P trading. You can also use their NFT marketplace.

You can earn passive income on your XTZ holding on this platform by staking XTZ. So, for a 120-day period, you can currently earn 9.59%. There are also 60- and 30-day staking periods available. Your return is lower with the latter two options. The following short video gives a good explanation on XT.com.

Coinbase

Coinbase is currently the second-largest exchange in the world, after Binance. It can boast a $1.2 billion daily volume. Per month, it also sees around 34.9 million visitors. However, for such a big exchange, they only offer 242 coins with 555 trading pairs. Coinbase does not share any information on its reserves. That’s the same as the other two exchanges we discuss here. In the top 13 exchanges, there’s only one other that doesn’t share this information.

Currently, you can buy three different XTZ pairs on Coinbase. For example, XTZ/USD, XTZ/GBP, and XTZ/BTC. Coinbase also offers an earn option. Here you can stake your Tezos tokens for an APY of 3.19%. Here’s also an easy-to-follow guide by Coinbase on how to buy Tezos.

The Coinbase headquarters is in San Francisco, USA. There is one known hack of Coinbase in 2021. Approximately 6,000 user accounts lost funds. However, Coinbase was quick to patch the security leak. Furthermore, all affected accounts received a full refund. The picture below shows the staking page on Coinbase. Click on the staking button. Tezos is in the yellow box.

Tezos on Coinbase

Source: Coinbase Earn

Conclusion

We looked at the three best centralized exchanges in Tezos. For this, we covered Bitforex, XT.com, and Coinbase.

The current XTZ price is $1.07. XTZs market cap is $982 million. There’s an infinite total supply of XTZ tokens. However, there are currently 921.7 million XTZ tokens in circulation.

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