Tezos is an open-source blockchain platform designed for self-evolving smart contracts and decentralized applications. Thanks to key features like on-chain governance, self-amendment, and energy-efficient proof-of-stake consensus, Tezos has become a preferred ecosystem for tokenized assets and NFTs. As the NFT market experiences rapid growth, positioning yourself within a blockchain tailored for digital collectibles—like Tezos—offers a strategic opportunity worth exploring.
To interact with this innovative ecosystem, you’ll first need a Tezos wallet (XTZ). This guide walks you through everything—from understanding what a Tezos wallet is, to creating one securely, sending and receiving tokens, and best practices for long-term use.
What Is a Tezos Wallet?
A Tezos wallet is a digital tool used to store XTZ, the native cryptocurrency of the Tezos blockchain, as well as tokens built on its FA1.2 and FA2 standards. These tokens power everything from fungible assets to NFTs across decentralized applications.
With your wallet, you can:
- Send and receive XTZ
- Interact with dApps
- Stake XTZ for passive income
- Store FA1.2/FA2 tokens securely
Most importantly, a Tezos wallet gives you full control over your assets—no third party can access your funds unless you share your recovery credentials.
Key Components of a Tezos Wallet
Every Tezos wallet includes three essential elements:
- Wallet Address: A unique string starting with
tz...(e.g., tz1NqA15BLrMFZNsGWBwrq8XkcXfGyCpapU1), used to receive funds. - Passphrase (Recovery Phrase): A 12-word sequence (e.g., strike dragon jar random tuna claw multiply ring member blue roast picture) that lets you restore your wallet if lost.
- Private Key: A cryptographic string (e.g., edskS9dHE8B3bFbTovFaJLfAzJEoLhWQ5uaQgPozEH8P4rEPbKwLrQyxZfkvuxH9rChfKHh9U3BLHTYHYMd4j2MrXF72xqx8Nx) used to sign transactions.
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Think of it like a bank account: your wallet address is your account number, while the passphrase and private key act as your password. The major difference? With Tezos, you remain fully anonymous—no personal data required.
Where to Create a Tezos Wallet
The most reliable way to create a Tezos wallet is through a non-custodial multi-chain wallet such as Coin98 Wallet. This ensures you retain complete ownership of your keys and assets.
Coin98 supports not only Tezos but also over 50 blockchains including Ethereum, Solana, Binance Smart Chain, Polygon, Polkadot, and more—making it ideal for managing diverse portfolios from one interface.
Since it’s non-custodial, even developers cannot access your wallet. Your security depends solely on how well you safeguard your 12-word passphrase.
Step-by-Step: How to Create a Tezos Wallet
You can set up a Tezos wallet using either the Coin98 Super App (mobile) or Coin98 Extension Wallet (desktop browser). Both offer seamless integration with the Tezos network.
Option 1: Using Coin98 Super App (Mobile)
Step 1: Download and Install
Download the Coin98 Super App from the official site or app store.
Once installed, open the app and select your preferred language.
Step 2: Create or Import Wallet
On the home screen, tap Wallet, then choose:
- Create New Wallet, or
- Import Existing Wallet
For new users, select “Create New Wallet.”
Step 3: Add Tezos (XTZ) Chain
Go to Manage → Add Wallet, then tap the Tezos (XTZ) icon.
Alternatively, choose Multi-chain Wallet to manage multiple cryptocurrencies under one recovery phrase—recommended for flexibility.
Step 4: Name Your Wallet
Give your Tezos wallet a recognizable name (e.g., “My XTZ Vault”) for easier management later.
Click Next.
Step 5: Secure Your Recovery Phrase
You’ll be shown your 12-word passphrase. This is critical:
- Copy and paste each word into the confirmation field.
- Tap the copy icon to confirm backup.
- Check all acknowledgment boxes confirming you understand the risks of losing this information.
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Click Create Wallet once verified.
After setup, go to Manage → Manage All Wallets to verify your new Tezos wallet appears in your list.
Option 2: Using Coin98 Extension Wallet (Desktop)
Step 1: Install the Browser Extension
Visit your browser’s extension store (Chrome, Brave, etc.) and search for Coin98 Wallet.
Install the extension from the official source.
Step 2: Set Up Your Wallet
Open the extension popup, click Create Wallet, and follow the same steps as above to generate your keys and secure your passphrase.
Then add the Tezos network manually or via auto-detection when interacting with dApps.
How to Receive XTZ and FA1.2/FA2 Tokens
Whether on mobile or desktop, receiving tokens is simple:
- Open your Tezos wallet
- Tap or click Receive
- Copy your
tz...address or share the QR code
Always double-check the address format before sharing—it must start with tz.
How to Send XTZ and FA1.2/FA2 Tokens
Sending works the same across platforms:
- Open your Tezos wallet
- Select Send
- Enter recipient address and amount
- Confirm gas fee (paid in XTZ) and slide to send
⚠️ Gas Fee Note: Each transaction costs approximately 0.0015 XTZ, depending on network activity.
You can also access the Send function directly from the app’s main dashboard by selecting your XTZ wallet.
Frequently Asked Questions (FAQ)
Q: Is storing XTZ in a Tezos wallet safe?
Yes—especially when using non-custodial wallets like Coin98. You control your private keys, meaning no third party can freeze or seize your funds.
Q: Are there fees when sending XTZ?
Yes. All transactions require a small gas fee paid in XTZ to process on-chain activity. Fees are typically low (~0.0015 XTZ).
Q: Can I create multiple Tezos wallets?
Absolutely. You can generate multiple wallets, each with unique addresses and passphrases. Just ensure proper labeling and secure storage for each recovery phrase.
Q: Can I store other cryptocurrencies in my Tezos wallet?
No. A dedicated Tezos wallet only supports XTZ and tokens following the FA1.2 and FA2 standards. Sending non-compatible coins (like ETH or BTC) may result in permanent loss.
Q: What happens if I lose my passphrase?
If you lose your 12-word recovery phrase or private key, access to your wallet and funds cannot be restored. Always back up securely—offline storage is recommended.
Q: Can I use my Tezos wallet for staking?
Yes! Tezos uses liquid proof-of-stake (LPoS). You can delegate XTZ to validators directly from compatible wallets to earn rewards without locking funds.
Best Practices for Using Your Tezos Wallet
- 🔐 Never share your passphrase or private key
- 💾 Store recovery phrases offline (e.g., on paper or hardware)
- 🧹 Avoid reusing wallet names; label clearly for organization
- 🔄 Regularly update your wallet app for security patches
- 🌐 Only connect to trusted dApps; verify URLs carefully
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Final Thoughts
Tezos stands out with fast transactions, low fees, and strong support for NFTs and tokenized assets. By creating a secure Tezos wallet, you gain direct access to this evolving ecosystem—from holding XTZ to collecting rare digital art via FA2 NFTs.
And if you're managing assets across multiple chains like Ethereum, Solana, or Binance Smart Chain, tools like Coin98 allow unified control—all within minutes of setup.
With the right knowledge and precautions, your journey into decentralized finance and digital ownership starts securely on Tezos.
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