How to create a Tezos XTZ wallet?

Learn more on the best Tezos cryptocurrency wallet experience. Securely store and manage XTZ in a lightweight, non-custodial crypto wallet.

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Guarda Wallet is a multicurrency non-custodial light wallet. We support the most popular coins and tokens, and Tezos is one of them! It is easy to use, you don’t even need to create an account and you can feel secure about your coin – we don’t store any of the user’s personal data. Guarda was designed as an interface where clients can manage, store, transfer and receive coins and tokens.

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How to create a Tezos XTZ wallet?

 Tezos XTZ wallet

First of all, Tezos is a blockchain-based platform, established in the US. After an extremely successful ICO (which, by the way, has set an ICO record with $232 Million attracted), the project team was pushing forward, gaining wider acceptance and more adoption. Tezos is not in the top 20 cryptocurrencies on the market.

The general vision of the Tezos team is that the majority of the well-known blockchains are not efficient enough. With this idea in mind, Tezos developers made a platform that not only allows creating smart contracts and dApp, but is also community-developed.

With Tezos, everyone can take part in the life of the blockchain. Users make their development proposals and if a consensus is reached, the system improves according to the community view. This feature is definitely the key phenomena present on the Tezos blockchain. Besides, having the users support helps to keep the community united.

How does Tezos On-Chain Governance work

As we have already mentioned before, Tezos enables upgrades of the protocol though on-chain governance system. Basically, instead of the radical changes (also known as hard forks), Tezos manages to improve the network step by step. The users vote for the best proposal suggested and a taken parameter of the protocol is changed by the network. The mechanism of this system is really quite simple:
For the network to upgrade, the developers submit numerous proposals. Tezos holders, on the other hand, vote for the best one. When the decision is made, developers start implementing the changes.

Tezos features

1. Smart Contracts
Tezos is quite similar to Ethereum from the point of the blockchain use cases. The network is dedicated to the Smart Contracts and Decentralised Applications.
2. On-Chain Governance
Tezos users (stakeholders) can vote for the blockchain improvements. The votes can be cast every three months.
3. Baking
Baking is a special feature of Tezos. We have already covered the basics of it in our previous blog post. Tezos bakers are the people who provide the stability of the network and operate transactions.

Delegated Proof-of-Stake

To achieve this consensus and make a decision, Tezos suggest the Delegated Proof-of-Stake algorithm. Besides not having to go through the hard fork process, Tezos DPoS is also environmentally-friendly. Let’s take Bitcoin as an example.
To mine Bitcoin (Proof-of-Work system), a massive amount of electricity is needed. Proof of Stake is much more economical at this point – each cryptocurrency holder can take part in the mining process.

Tezos XTZ cryptocurrency

Tezos XTZ is somewhat of a newcomer to the cryptocurrency market, but the coin has already got itself quite a strong position on the top of the list. The mainnet for XTZ launched in 2018, after a long and tedious post-ICO process. Tezos indeed got a second chance, which rarely happens in the crypto world. The hopes of users and investors paid off, as now Tezos enjoys being in the top-crypto list by market cap.

Tezos ICO process and further troubles

Tezos drew lots of attention with its ICO (Initial Coin Offering). After the massive success of this campaign, things started to complicate for the company. A massive dispute took place on the very hights – between the founder of Tezos and the owner of Tezos intellectual property rights. As a result, the launch of the platform was majorly delayed. Then, the legal troubles took place. The users of the network answered with a series of lawsuits against the company. A class action lawsuit followed.
Finally, by February 2018, the investors saw a ray of light in this kingdom of legal darkness. Two board members of the Tezos Foundation stepped down and were replaced by the Tezos community members.

Market CapCirculating SupplyTotal SupplyWebsite
$252,932,006 USD607,489,041 XTZ763,306,930

Tezos XTZ wallet

Probably ,Tezos did not start on the right foot, but it did not stop the development of this network. From the very launch, Tezos started to get some serious attention from the investors. And, of course, when we talk about investments, we need to get the platform ready. This is exactly why we will be looking deeper into Tezos wallets. Tezos in present in the majority of cryptocurrency wallets and it makes the choosing process difficult for some of the users. We hope to solve the choice problem by offering our multi-currency, multiplatform wallet. Guarda offers the best Tezos wallet experience for various platforms and devices:

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How to exchange Tezos?

Buying Tezos is quite easy. All you need to do is choose a cryptocurrency you would like to exchange for XTZ and confirm the transaction. However, how do you find a trustworthy exchange service to perform a transaction on? Say no more – you can get Tezos XTZ right within you Guarda wallet. To make this happen, all you need to do is log in into your wallet, choose the currency you would like to exchange along with the amount you are willing to swap and perform the exchange process through our partnering services –ChangeNOWandCoinswitch.

ChangeNOW button

Set up a Tezos Wallet

You can start operating your Tezzies on Guarda in a matter of a couple of clicks. For starters, you can get our Web Tezos Wallet – perfect cryptocurrency storage for day-to-day use. The Web wallet has all the functions that a crypto hodler might need – security, fast transaction and easy registration-free exchanges. In here we will describe how to get the Web Tezos Wallet on Guarda:

1. Go to the main page of Guarda’s Website and click Create Wallet
2. You will be redirected to the Welcome Screen. In here, you will need to proceed with clicking Create a New Wallet.
3. The next step requires you to think a good password for your wallet. Remember that your wallet password is the very essential security feature that should be stored out of the public eye. An important note here: Guarda Wallets are custody-free, so we do not store the information of our users – in case of a password or backup loss Guarda team will not be able to restore it.
4. Now, you will need to download the backup of your Tezos wallet – keep it safe and try not to store it online.
5. Your Tezos wallet is all set up! You can now store, send, receive and exchange XTZ on Guarda.

If you are interested in more information on Tezos wallets, you can check our blog tutorial

Mobile Guarda Wallet

Tezos Mobile Wallet

If your life is as fast-paced as ours, there is a chance you might be in need of handy crypto storage that you can always carry with you. Guarda offers Mobile cryptocurrency wallets for more than 40 popular blockchains – including Tezos.
Guarda Mobile Wallet for Tezos is a lightweight application with the functionality of a traditional cryptocurrency wallet. The backup of your wallet is encrypted on the device and your private keys are always in your hands. Just as any other Guarda wallet, the Mobile Multiwallet is non-custodial.

Tezos Facts

  1. Anyone can make a modification of the Tezos blockchain and asked to be paid for it
  2. Tezos has an ongoing bug bounty for the potential security vulnerabilities
  3. Tezos community is quite active on social media – besides, communities in different countries have their own branches
  4. For your computer to be eligible to be a node you need to put a warranty of at least 10,000 Tezzies

How to Create a Guarda Web Wallet

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