Tezos wallets help users to safely send and receive XTZ (Tez, also known as ‘tezzies’) as well as facilitate daily transactions for artists and collectors in the NFT space, but they’re incredibly useful for so many other things.

From participating in staking to earn XTZ, to buying, selling and viewing NFTs, cryptocurrency wallets on Tezos are part of a secure, flexible, upgradable and built-to-last blockchain.

The Tezos blockchain, unlike other blockchains, precludes hard forks - i.e. a radical change to the network’s protocol that makes previously valid blocks and transactions invalid, or vice-versa. Tezos employs a blockchain-based governance mechanism that implements upgrades based on votes which are proportional to a user’s economic stake in Tezos. In essence, it’s a self-amending blockchain.

The Tezos blockchain uses a Proof-of-Stake (PoS) consensus mechanism to validate blockchain transactions - “baking” is the signing and publishing of blocks to the Tezos blockchain. This allows the chain to be inexpensive and energy efficient. Any stakeholder can participate in the consensus mechanism and be rewarded for contributing to the security and stability of the network. The Tezos foundation is incentivized to help improve the protocol and the entire ecosystem.

The Tezos blockchain is an open-source blockchain protocol for assets and applications backed by a global community of validators, researchers and builders.

Key Takeaways for Creators and Collectors

There are plenty of great options to choose from when it comes to Tezos wallets, each with its own unique points plus added functionality. Your wallet should let you:

  • Manage XTZ and Tezos native tokens

  • Safely store your NFTs and Tezos native tokens to use and view at your discretion

  • 24/7 access to your funds to transact and cash out whenever you want

  • Access and use a growing number of dApps via your wallet

  • Allow compatibility with a hardware wallet, such as a Ledger Nano X, which is the best way to keep your assets safe.

What’s the best wallet for me?

Check out our carefully-selected Tezos wallets to find the one that works best for your needs.

Last updated