Now could be the time for a mini Tezos staking adventure. Why? Because not only could you benefit from bull market prices rising + continued network growth but you could also support the network by staking and receiving ROI. This might also mean you could participate in the Tezos community too.
At time of writing, Tezos is still not easy to get hold of.
You could buy some on Bitpanda (my referral offer), a Lichtenstein-based European exchange, although with fees the same as Coinbase. I like their interface a lot, which is designed with more graphically represented wallets. (The ‘hide empty wallet’ feature is very useful.) By the way, you can also buy digitized gold and silver now with Bitpanda, which is also pretty cool.
However, right now you can’t transfer out your Tezos for staking, from Bitpanda.
So, in order to buy Tezos for staking you need to use a different exchange, like Gate.io. This is the one I used, and you need to go through the usual sign-up steps that includes KYI plus 24hour wait before you can withdraw.
I was also impressed by the features at Gate.io, which includes margin lending/borrowing and mobile app. Here is a better review. You can use my Gate.io referral offer, (which is also the graphic below). What is the offer? You get 10% off on all your trading fees for 12 months.
Back to the adventure. Very quickly, I was able to buy some Tezos here with Bitcoin, and then start checking out Tezos wallets.
I’ve discovered the Tezbox wallet works really well as a browser extension and a mobile wallet. So you can use either to set up and save your priv. key/phrase.
Once you’ve transferred your Tezos (or Tezzies) out of Gate.io etc. and into your new wallet address then you can go to the next part.
You won’t be the one staking, you’ll be the one delegating your XTZ for staking. The good news, is you can stake by delegation directly from your Tezbox. You’ll need some Tezos in there, in order to fund the creation of a real (or originated) Tezos account. Here is a nice and detailed walkthrough. It’s really just a matter of selecting a ‘baker’ to delegate to, from a list in the wallet.
You can check out a list of bakers at MyTezosBaker.com. Obviously to become an actual baker takes more time and expertise, but delegating shows you’re going to come along for this new public blockchain ride. Let’s see how long it takes to get going, and how far it goes… (Maybe in the meantime we should develop some dapps for it!)
Happy ROI !
Some recent news seems to suggest that the project is finally moving more decentralised, with solutions for un-tangling the ‘Co-ordinator’ from the Tangle.
Many are invested in this ambitious IoT-inspired project that aims to revolutionise DLT, including many big names. However, an issue has always been its dependence on a centralised co-ordinator that oversees the network.
Do your own research, but it could be time to Tangle, with renewed interest seeing a price rise here at the start of a new bull market.
Just be prepared to keep calm and keep hodling long-time.
The crypto lending platform is also still on the ball, and remains on my portfolio. It’s released a Medium statement that is clear and helpful.
Recent events coming: new mobile apps, Nexo card launching in Europe, next dividend date for Nexo token hodlers announced. Lower loan limits of only $100 min are also on the cards, plus collateral option for TRON (TRX).
Watch out banking boys, crypto is coming, but it’s right that Nexo should pursue a cautious but steady approach to protect their ground-breaking lending model.
Expect this price to rise or stay up until (or just before) release of new dividends.
Current price of Tezos XTL = $1.57 [see my previous post about Tezos]
Current price of IOTA = $0.475812
Current price of NEXO = $0.087879