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Have you recently discovered the Tezos network and are looking for a new crypto wallet? If so, you’ve come to the place! In this guide, I’ll unpack the best Tezos wallets on the market right now and help you hone in on what it is you’re looking for in your perfect crypto storage setup.
If you’re anything like most crypto traders, you’ve probably found yourself floundering with too many choices at one point or another. Should you go for a hardware wallet like Ledger or Trezor, or would a software wallet suffice? Is it worth sticking with a general-purpose, Swiss knife-type of wallet that’s good with most blockchains, or would you be better served by a Tezos-specific wallet?
Worry not – once I’m through, you’ll have your moment of clarity and find your ideal match in no time. Here's the entire list of alternatives I'll cover in this round-up:
- Ledger Flex - Number One Wallet for Tezos
- Ledger Stax - Best Premium Tezos Wallet
- Trezor Safe 5 - The Most Secure Hardware Wallet
- Coinbase Wallet - Best Software Wallet for Tezos
- Ledger Nano X - Best Budget-Friendly Hardware Wallet
- Umami - Best Native Wallet for Tezos
- Temple - Best Tezos Wallet for Crypto Rewards
- Kukai - Best Minimalist Tezos Wallet
1. Ledger Flex - Number One Wallet for Tezos
Ranks #1 out of 8 Crypto Wallets
- + User-friendly design
- + Robust security
- + Long battery life
- + Thousands of digital assets
- + Platform and wallet compatibility
- - No wireless charging
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If you’re looking for the best Tezos wallet all around, Ledger Flex rises to the occasion like no other. Released in 2024, this model from the leading hardware crypto wallet producer is still one of the most advanced hardware crypto storage solutions, made specifically for crypto traders in need of a powerful and stylish accessory that will keep their assets safe.
Flex features a 2.84-inch monochrome E-Ink touchscreen equipped with Gorilla Glass technology that makes it highly resistant to shattering from impact (and if that’s not enough, there’s a Magnet Folio case for extra protection, sold separately). The rest of its body is made of an aluminium frame with a plastic back cover. Aside from the basic Graphite color, you can get it in Bitcoin Orange if you’re in for something a little flashier.
Hardware wallets already beat their software counterparts in the security department, but Flex goes the extra mile to keep your XTZ safe: it features a Secure Element microprocessor chip with a CC EAL6+ certification, a 24-word Secret Recovery Phrase, and a neat safeguard called "Protection Mode” that automatically locks the device if it detects a potential security threat.
When it comes to hardware wallets, connectivity is key, and Flex doesn’t disappoint here, either. It comes with a USB-C port for charging, Bluetooth 5.2 for connecting to Ledger Live, and NFC (Near Field Communication) for secure wireless Tezos transactions.
Now, you’re probably curious what this wallet can offer for Tezos, specifically. One of Ledger’s biggest advantages is the Ledger Live app, which offers an unparalleled crypto handling experience. You can not only buy XTZ right from the app but stake it, too! Ledger also integrates with Objkt, the leading Tezos NFT Marketplace.
Key Features
Ledger Flex is, hands down, the best Tezos wallet for overall versatility, user-friendliness, and advanced functionality. Check out its main specifications:
- Quality Design. Flex comes with a large 2.84” E-Ink screen, equipped with Gorilla Glass technology, anti-glare coating, and sound feedback.
- CC EAL6+ Certification. Flex’s secure element chip is certified with the CC EAL6+ rating, proving that the product has undergone rigorous testing.
- Thousands of Cryptocurrencies. Flex supports buying/selling Tez with 5,000+ other tokens.
- Extensive Connectivity. This wallet is equipped with USB-C, Bluetooth 5.2, and NFC connections and is compatible with 50+ third-party wallets, including the best Tezos wallets like Umami, Kukai, and Temple.
- NFT Lock Screen. If you think your Tezos NFTs look too good to be hidden away in the gallery, there’s an option to set an NFT as your lock screen (which conveniently hides your dashboard from prying eyes, too).
Ledger Flex has something to offer for both beginners and pros, although its price might deter all but the most committed Tezos enthusiasts: at $249, Flex is the second most expensive Ledger device.
2. Ledger Stax - Best Premium Tezos Wallet
Ranks #2 out of 8 Crypto Wallets
- + A brand-new design
- + Industry-leading security
- + Coin, token and NFT storage
- + High levels of customizability
- + Very simple to use
- + Wireless charging
- - Pricey
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The best way to describe Ledger Stax is “Flex, but better!”. As of writing this, Stax is the most advanced model in the Ledger lineup, and the best secure wallet for Tezos if you need cutting-edge functionality and are willing to shell out for a premium package.
This model’s main selling point is, of course, the massive 3.7-inch curved edge-to-edge display – can you believe it’s actually bigger than the screen of iPhone 4? While it doesn’t have Gorilla Glass, it makes up for it with the sleekness factor and an ultra-thin plastic cover. As for the rest of the body, Stax only comes in Graphite color and supports Protective Ledger Magnet Shell (included in the box).
Ledger Stax has the same connections as Flex, plus an additional perk of wireless Qi charging. While it doesn’t come with a charging station included, the Ledger store has a few options you can pick from, such as Anker Wireless charger and Belkin Boost Charge, both just under $30. That said, both Stax and Flex’s battery lasts up to 10 hours of normal use, so charging won’t be a major issue.
Just like Ledger Flex, Stax has a secure CC EAL6+ element and a 24-word passphrase. For added security, you can subscribe to the Ledger Recover service. It creates a spare digital key, split into three within your Ledger’s Secure Element. All you’ll need to do to recover your crypto is verify your identity on the Ledger Live app.
With Ledger Stax, you'll be able to buy Tezos with fiat currencies or swap it for 5,500+ other coins and tokens. It's compatible with over 50 third-party wallets, such as Umami, Kukai, and Temple.
Key Features
These are the major features that define Ledger Stax:
- 3.7-inch Touchscreen. With a screen like that, who even needs a smartphone, right? It allows for the most user-friendly interface and an easy setup, with sound feedback for more accessibility.
- Wireless Qi Charging. Stax features a convenient wireless charging integration so that you won’t have to worry about the battery running out while you’re managing your XTZ away from home.
- CC EAL6+ Certification. Stax is certified with the second-to-highest CC EAL rating, which shows that this device has top-notch security and rigorous testing.
- Thousands of Cryptocurrencies. Flex supports holding, swapping, and buying/selling XTZ, BTC, SOL, and 5,500+ more tokens and NFTs through the Ledger Live app.
- High Compatibility. This wallet offers multiple ways to facilitate wireless transactions and connect to a computer, as well as 50+ third-party wallets.
The $399 price tag definitely puts Stax in the luxury product category when it comes to hardware crypto wallets, but if it’s within your budget, this is definitely the best Tezos hardware wallet in terms of sheer functionality.
3. Trezor Safe 5 - The Most Secure Hardware Wallet
Ranks #3 out of 8 Crypto Wallets
- + Supports 1,000+ crypto assets
- + Easy navigation
- + Open-source
- + EAL6+ certified chip
- + Enhanced security features
- - Quite expensive
- - No seed recovery service
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Another leading name in the hardware crypto wallet industry, Trezor has made a name for itself with a few standout products of their own. Trezor Safe 5 is the most powerful hardware wallet in the Trezor lineup, winning over countless crypto enthusiasts with its iconic tapered shape and attractive features.
Safe 5 has a 1.54-inch colour display with Gorilla Glass 3 technology and haptic feedback. Weighing only 23g, this device is one of the most lightweight and resilient Tezos wallets (although certainly not the best for portability, as it only works when it’s plugged in with the USB-C cable). You can choose between 3 color choices to go with your outfit or match your aesthetic.
Trezor prides itself on its open-source firmware and multi-faceted security measures, and Safe 5 is a true embodiment of this approach. It features a CC EAL6+ secure element chip and an Advanced Multi-share Backup with a 20-word recovery phrase. In addition, you can protect your device with a PIN or a passphrase, or use this wallet as a 2FA device.
And if you really want to go above and beyond with creating the most secure environment for your crypto, you can get a Bitcoin-only version of this wallet. Featuring a distinctive orange back, this model comes with a specialized firmware that only supports BTC, making it even safer than its multi-chain counterpart. Alternatively, if you only want the color and need it to function as a Tezos wallet, you can simply replace its BTC-only firmware with the regular one.
Safe 5 seamlessly integrates with the Trezor Suite app that acts as a gateway to Web3. You can send, receive, buy, sell, or swap your XTZ with fiat or thousands of other tokens (although, unfortunately, it’s missing the staking functionality).
Key Features
Here are the features that have earned Trezor Safe 5 a venerable spot among the best Tezos wallets:
- Open-Source Design. Not just the Trezor firmware but the entire device is open-source, which comes with the benefit of community testing and increased anonymity.
- CC EAL6+ Certification. Trezor Safe 5’s secure element chip has a CC EAL6+ rating, denoting its reliable build quality backed with comprehensive testing.
- SLIP39 Multi-Share Backup. This advanced backup method splits your recovery seed into multiple parts as a way to reduce the risk of total loss or theft of your Tezos tokens.
- Thousands of Tokens. With Trezor Safe 5, you have over 1,000 coins at your disposal – not just to store but also to swap or stake! This is perfect for Tezos traders who like holding multiple cryptocurrencies.
- Trezor Suite Integration. Trezor Suite is the ultimate companion app for Trezor Safe 5 wallet that offers a convenient way to set it up or handle your crypto on your smartphone or computer.
At $169, Safe 5 is the priciest wallet in the Trezor lineup but still more affordable than the above-mentioned Ledger devices.

Did you know?
All Crypto wallets may look similar to you but they're NOT all the same!
4. Coinbase Wallet - Best Software Wallet for Tezos
Ranks #4 out of 8 Crypto Wallets
- + Easy to use
- + Free to register and keep crypto coins in
- + Supports thousands of digital assets
- + Top-notch security measures
- - Not as secure as a cold wallet
- - Not the best customer support
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To most crypto enthusiasts who’ve been in the scene long enough, Coinbase is better known as one of the best centralized crypto exchanges. Over the years, its ecosystem has grown to include a few more products and services – including this non-custodial Web3 wallet.
Like its parent CEX, Coinbase Wallet boasts a streamlined and intuitive design. Unlike with the exchange, the entire focus is on your crypto asset portfolio, with one or two-click access to virtually any feature you need to buy, sell, stake, or otherwise manage Tez or over 2,000 other tokens.
Fans of non-fungible tokens will definitely enjoy Coinbase Wallet’s NFT management features. You can discover and buy Tezos NFTs, see them in grid view, and sort them by name or date. There’s even an option to listen to Audio NFTs with custom playback controls. All in all, this is one of the best Tezos wallets for NFTs.
Coinbase Wallet is no slouch when it comes to security, either. You’ll find some handy security measures like token approval alerts, transaction previews, and a dApp blocklist. You can also hide spam tokens from your dashboard. And if you want to take a step further with your security, I recommend taking advantage of the Coinbase Wallet’s Ledger integration.
There’s something in there for those with a competitive streak, as well. Coinbase Wallet lets users complete interactive quests (similar to the BitDegree Missions) in exchange for crypto rewards. Even though, as of writing this, those rewards don't include Tezos, I wouldn’t rule out the possibility of this network being featured one day.
Key Features
Let’s dive straight into the Coinbase Wallet's best features and see what it’s got going for it:
- Transaction Transparency. Coinbase Wallet shows you a preview detailing the exact changes in your balance before the transaction and alerts you to suspicious contracts and addresses.
- Advanced Security Features. This wallet supports multiple sets of wallet addresses to help protect your anonymity and makes it easy to review and revoke your existing dApp connections.
- Thousands of Cryptocurrencies. If you’ve ever used the Coinbase CEX and found its selection lacking, with the Coinbase Wallet, you’re unlikely to feel that way! You’ll find not only Tezos but various meme coins and NFTs, too.
- Compatibility. Coinbase Wallet integrates with Ledger and multiple other third-party wallets for added convenience and safety.
- Quests. This feature lets you earn free crypto by completing fun, bite-sized challenges that will teach you more about blockchain and Web3 in the process.
If you’re already using the Coinbase exchange and need a software wallet to go with it, picking this one is probably a no-brainer.
5. Ledger Nano X - Best Budget-Friendly Hardware Wallet
Ranks #5 out of 8 Crypto Wallets
- + Can be managed from mobile device
- + Very secure
- + Supports more than 5,500 cryptocurrencies
- + Comfortable design
- - Relatively expensive
UP TO $500 IN BTC
Ledger Flex x Monopoly Bitcoin Exclusive
Don’t just pass GO, snag the limited edition Ledger Flex x Monopoly Bitcoin bundle and get a mystery BTC voucher worth up to $500. Hurry up, only available until the supply runs out!
Ledger Flex and Stax might be the flagship products in the company’s collection, but don’t discount the classics, either! Released in 2019, Nano X still holds up as the best Tezos wallet for budget-conscious users, offering a perfect price-to-functionality ratio and an excellent entry-level gateway into the world of hardware wallets.
Roughly the size and shape of a USB stick, Nano X is a fantastic crypto companion on the go: you get not only 5 hours of battery life but 8 color choices to pick from, making it an ultimate fashion accessory among hardware wallets. It features a 1.09-inch monochrome OLED display and a plastic body with a stainless steel swivel. You can even hang it around your neck on a chain (a key strap is included in the box).
As for security, you’ll find the Certified Secure Element (CC EAL5+), which, while not the most up-to-date, is still more than enough to protect your Tezos tokens. Nano X also has ANSSI CSPN certification and a 24-word Secret Recovery Phrase.
Just like all the other Ledger wallets, Nano X integrates with the Ledger Live ecosystem, offering access to not only XTZ but 5,500+ other tokens and NFTs.
Nano X comes with a USB-C charging cable and a Bluetooth connection.
Key Features
Despite being an older model, Nano X still has plenty to offer for Tezos traders:
- Portability. At 34g and up to 5 hours of battery life, Nano X is possibly the best Tezos wallet for those who need a hardware crypto storage device when they’re out and about.
- OLED Display. Even if it’s relatively tiny, Nano X’s monochrome display is vibrant and energy-efficient.
- Security. Nano X has a Certified Secure Element CC EAL5+ and ANSSI CSPN certification.
- Fashion-Friendly. Choose between 8 colors and carry your device around with a key strap.
- Ledger Live. Access 5,000+ tokens and NFTs (including XTZ) with the Ledger Live app.
Ledger Nano X blows all the other best Tezos wallets on this list out of the water with its affordable pricing – you can get this beautiful and secure crypto storage solution for only $149!
6. Umami - Best Native Wallet for Tezos
Ranks #6 out of 8 Crypto Wallets
- + Desktop app
- + Batch transactions
- + NFT management features
- + Robust security
- - No web version
You’ve seen the best all-purpose crypto wallets – now it’s time to give some love to the Tezos-specific options. If you’re looking for a crypto wallet made specifically with this network in mind, Umami has got you covered.
This deliciously-named wallet is undeniably among the best Tezos wallets for NFTs. You can easily view individual collections and even hide NFTs from the gallery if you don’t want to see them anymore. If you buy an NFT, its metadata is fetched automatically.
The mobile version has an additional perk for NFT users: it lets you turn any NFT into an access or membership token. Just open Umami on your phone, choose the relevant NFT, and click [Certify] to generate a QR code.
Where Umami really stands out, however, is its extensive transaction batching functionality, which speeds up transactions by processing them in bundles. You can now mix and match various types of operations (tokens with the same standard, like FA1, get grouped automatically), and even choose which transactions to save for later and which ones you want to bump up the queue.
This wallet also takes the cake when it comes to platform support. It’s one of the few software wallets that comes with not only a mobile app but also a desktop application.
Key Features
See what Umami Wallet brings to the table for the ultimate Tezos storage setup:
- dApps Integration. Seamlessly integrate with Tezos-based dApps, so that they and your Umami wallet work as one.
- Staking. Easily delegate your Tezos tokens to a baker and put them to work, earning you some passive income.
- Top-Notch Security. Make your wallet even safer by setting up multiple signatures for Tezos transaction executions, and take advantage of keystore backups.
- Ledger Integration. Boost the security of your XTZ tokens by connecting Umami with a Ledger hardware wallet.
- Desktop Experience. Enjoy a full-fledged desktop app for macOS, Windows, and Linux.
As you can see, Umami has no shortage of attractive features, all there to provide the best possible experience for storing Tezos.
7. Temple - Best Tezos Wallet for Crypto Rewards
Ranks #7 out of 8 Crypto Wallets
- + NFT management
- + Advanced staking and yield farming
- + Open-source code
- + Numerous reward initiatives
- - No full web or desktop app
Temple Wallet is yet another Tezos-specific solution that’s been rapidly gaining popularity as of late. It has a mobile app but no desktop or web app – instead, it can be downloaded as a browser extension, with support for most of the popular browsers: Chrome, Firefox, Edge, Brave, Opera, and Vivaldi.
This wallet should cover all of your Tezos management needs: you can swap it with hundreds of other tokens, buy it with a credit/debit card, or stake it. Not to mention, Temple holds up as one of the best Tezos wallets for NFTs, thanks to including the option to not only buy and sell NFTs but create your own, too. The developers have also revealed an upcoming feature that will introduce AI functionality to generating and minting NFTs.
Temple Wallet’s staking functionality is more advanced than what you'll find on most of the other alternatives. It allows users to choose between “simple” or “complex” Tezos staking and yield farming, with the option to pick between multiple liquidity pools.
To receive the full reward, you are required to stake your assets for at least 1 day. Claiming the rewards earlier results in a smaller reward allocation and distributes the difference to the full rewards back to the pool.
Speaking of rewards, there’s another neat incentive that deserves a shout-out. Enabling ads on your wallet makes you eligible for earning TKEY (the official Temple Wallet token) rewards. The creators have revealed that they intend to distribute up to 50% of the advertisement revenue, which may or may not add up to massive profits in the end, but, as they say, it’s the thought that counts!
Key Features
Temple Wallet has carved out a spot on this list with the help of the following features:
- Cashback. Swapping on Temple Wallet gives users 0.175% of the swapped amount in the TKEY tokens.
- Cloud Seed Phrase Backup. Users can choose an authentication method with Google (iOS and iCloud coming soon) when creating a wallet on an Android device.
- Open-Source. Temple has fully open-sourced its code, which anyone can review and audit. The wallet undergoes regular audits.
- Flexible Earning. Stake your Tezos tokens with a baker (delegator) or deposit them in a liquidity pool for higher rewards.
- Ledger Support. Like most other software Tezos wallets on this list, Temple integrates Ledger hardware wallets.
Even though it doesn’t quite make it to the top of this best Tezos wallets list, Temple Wallet is still a competitor to be reckoned with if you’re looking for something lightweight and dependable.
8. Kukai - Best Minimalist Tezos Wallet
Ranks #8 out of 8 Crypto Wallets
- + User-friendly design
- + Basic NFT management
- - No advanced features
This is the best Tezos wallet for users who don’t need a million features or extensive platform support and would rather get back to the basics. Turns out that, sometimes, less really is more.
Kukai’s web app interface has a minimalist and stripped-down look, in line with its scant feature set. The dashboard offers a quick glance at your entire activity. Being a Tezos-only wallet, it’s not cluttered with any other tokens, letting you focus exclusively on XTZ. You can change the theme to Light or Dark.
As you can probably guess, Kukai doesn’t come with any extensive NFT features, but it still has a beautiful gallery mode for displaying your collections. On a separate tab, you can discover new Tezos NFTs and get redirected to their marketplaces in just one click. That said, it’s probably not one of the best Tezos wallets for NFTs if you’re looking for anything more advanced.
Kukai makes Tezos staking a breeze, featuring an extensive knowledge base for beginners and an integrated staking platform. You can delegate your Tezos tokens to bakers (that’s what validators are called on this network) or stake them. The former is essentially liquid staking, but this flexibility comes at the price of ~50% lower rewards. The minimum staking period is 4 days.
This wallet works on the web and as a mobile app, but doesn’t have a browser extension or a desktop app.
Key Features
Here’s what to expect from Kukai Wallet:
- Intuitive Interface. Enjoy a clean and streamlined look, well-suited for beginners.
- Buy Tezos. Get some XTZ tokens and pay with a bank transfer or various online payment methods.
- Swapping. Easily swap between XTZ and tzBTC.
- Staking. Earn passive income from your Tezos tokens by either staking or delegating them in just a few clicks.
- NFT Management. See your Tezos NFTs in a gallery view and discover new ones.
While nothing groundbreaking, these features make Kukai arguably the best Tezos wallet from a purely minimalist standpoint.
Best Crypto Wallets for Tezos: A Quick Overview
This might be the most comprehensive list of the best Tezos wallets to date (if I do say so myself), but I can imagine it’s a lot to take in if you’re just trying to decide on your number one! Here’s a handy cheatsheet for a quick glance at each of the alternatives and their specifications:
Best For | Type | Price | Coins | Key Features | Hardware Wallet Integration | |
---|---|---|---|---|---|---|
Ledger Flex | High build quality and overall features | Self-Custodial / Hardware | $249 | 5,500+ | 2.84-inch monochrome E-Ink display with Gorilla Glass, NFT lock screen, up to 10 hours of battery life, integrated Tezos NFT marketplace | ✗ |
Ledger Stax | Large screen and premium features | Self-Custodial / Hardware | $399 | 5,500+ | 3.7-inch monochrome E-Ink edge-to-edge display, Wireless Qi charging, up to 10 hours of battery life, integrated Tezos NFT marketplace | ✗ |
Trezor Safe 5 | Security | Self-Custodial / Hardware | $169 | 1,000+ | 1.54-inch colour display with Gorilla Glass 3, haptic feedback, open-source firmware | ✗ |
Coinbase Wallet | Accessibility and mobile app | Self-Custodial / Software | Free | 2,000+ | Buying/selling and swapping Tezos, NFT management | ✓ |
Ledger Nano X | Affordable entry-level hardware wallet | Self-Custodial / Hardware | $149 | 5,500+ | 1.09-inch monochrome OLED display, 8 color choices, up to 5 hours of battery life, integrated Tezos NFT marketplace | ✗ |
Umami Wallet | NFT management | Self-Custodial / Software | Free | 30+ | Desktop app, transaction batching, NFT management, Tezos staking and swapping | ✓ |
Temple Wallet | Yield farming | Self-Custodial / Software | Free | 100+ | Tezos staking with a delegator, yield farming with liquidity pools, NFT creation and management, cashback | ✓ |
Kukai Wallet | Minimalist and user-friendly design | Self-Custodial / Software | Free | 2 | Swapping and staking Tezos, Tezos NFT management | ✓ |
Table: quick overview of the best Tezos wallets
Each of these wallets has its own strengths and weaknesses, so make sure to distill your priorities and dig beneath the surface to find your perfect match.
📚 Check Out: Best Cryptocurrency Wallets
How to Choose the Best Tezos Wallet? Best Tips & Advice
Now that you’re through with this guide and are edging closer to making a decision, here are some key factors to consider if you’d still like some pointers to nudge you in the right direction:
- Software VS Hardware Wallet. Hardware wallets have the upper hand when it comes to security, but most of them are quite pricey, while software wallets cost nothing to use. Take into account not just your budget but the amount of crypto you own, too; a hardware wallet might not be worth it if you’re only a casual, low-volume Tezos trader.
- Security. Make sure it has everything you need to help protect your XTZ tokens. Hardware wallets should have the newest standard of a 20 or 24-word recovery phrase and PIN code. Look for wallets that have wallet address whitelisting, a public dApp blocklist, transaction simulation, and warnings for suspicious contracts.
- Tezos-Specific Features. Does the wallet allow you to easily swap, buy/sell, and stake Tezos? If it supports staking, is it only delegator staking or yield farming with liquidity pools? Experienced traders who want to maximize their profits will be better off with the latter.
- User-Friendliness. Is the wallet easy enough to set up? Does it have an intuitive interface where you can easily discover all the features? If you own Tezos NFTs, look for wallets that have proper NFT management functionality, preferably with a gallery/grid view to showcase your collection.
- Integrations. If it’s a software wallet, does it offer integration with the most popular hardware wallets like Ledger? If you’re not planning to use a hardware wallet, prioritize other useful integrations like popular Tezos marketplaces or an integrated staking/delegating platform.
That’s about it! When in doubt, come back to this advice and try to outline your specific use case. Chances are, some of the flashiest features might not be relevant to you, but something else could be, so personalization is key.
📚 Check Out: A Complete Guide on How to Choose a Crypto Wallet
What is Tezos?
If you really want to make the most out of your Tezos wallet, it’ll pay off to get more familiar with the network itself and what it can offer you. Before we wrap up, then, there’s still some room left for a quick crash course.
Tezos is a Layer-1 blockchain network created by Arthur Breitman (former engineer at Google X and Waymo) and Kathleen Breitman (former employee of the hedge fund Bridgewater Associates and R3, a software company). The proposal for Tezos was outlined in 2014, and three years later, the Tezos Foundation went on to launch one of the largest and most successful ICOs in the history of crypto, raising 66,000 BTC and 361,000 ETH in just 13 days.
According to some sources, “Tezos” means a close equivalent to “smart contract” in Greek, although others suspect that the founders were just trying to stumble upon a catchy name that hadn’t been claimed yet.
One of its most distinguishing features is forkless upgrades. Unlike most other chains, Tezos doesn’t require hard forks to make major protocol changes. Instead, it’s a “self-amending”[1] blockchain that incorporates a much more efficient on-chain mechanism for proposing, selecting, testing, and activating protocol upgrades.
Another way Tezos claims to improve on most other networks is its Liquid Proof-of-Stake (LPoS) consensus mechanism. Unlike regular PoS (used by some of the most popular coins like Bitcoin) that’s been criticized for its high energy consumption and barrier of entry, LPoS allows even users with smaller amounts of tokens to become validators by delegating their staking rights,[2] making the entire consensus more democratic and decentralized. It also keeps staked tokens liquid and not locked, hence the name.
What’s more, Tezos offers uniquely high staking rewards compared to most other blockchains: ~16.5% APY, as opposed to a mere 3-7% on networks like Ethereum, Solana, and Cardano. There’s no minimum staking requirement, and you can choose to split your XTZ tokens between delegating them to a baker or staking them yourself.
Tezos’s energy-efficient approach and the lack of hard forks make it a great fit for NFTs. A significant share of Tezos users are NFT owners, and it has already become a blockchain of choice for many artists. You can mint, collect, sell, and buy Tezos NFTs on popular marketplaces like Objekt, fx(hash), and Rarible.
Conclusions
There are a lot of crypto wallets out there, but only a select few can live up to the title of the “Best Tezos Wallet”. All of the alternatives on this list get top marks for providing a secure and user-friendly experience when buying, swapping, or staking XTZ or managing Tezos-based NFTs.
Before you jump ship from your current crypto wallet or shell out for a hardware device, however, have a closer look at your crypto trading needs to help you decide on the specific type of wallet and the features that would suit you best.
The content published on this website is not aimed to give any kind of financial, investment, trading, or any other form of advice. BitDegree.org does not endorse or suggest you to buy, sell or hold any kind of cryptocurrency. Before making financial investment decisions, do consult your financial advisor.
Scientific References
1. Jairam S., Gordijn J., Torres I. D. S., Kaya F., Makkes M.: 'A decentralized fair governance model for permissionless blockchain systems';
2. Dimitri N.: 'Liquid Proof-of-Stake in Tezos: An Economic Analysis'.