Skip to main content

How to Buy QTUM

QTUM is a blockchain technology that blends smart contracts from Ethereum (ETH) with the stable blockchain of Bitcoin (BTC) with verification provided by proof-of-stake. By combining these elements together, QTUMs goal is to simplify blockchain technology use for businesses.

Currently, blockchain technology is not accessible to all businesses. By establishing an easy to use platform that can be used with BTC and ETH blockchains, QTUMs mission is to make it possible for all businesses to develop smart contracts and mobile applications. Additionally, QTUM hopes to allow all organizations to develop their own coins, make supply chain management systemized, and take part in agreements that are self-actionable in an environment that is standardized.

What is QTUM?

QTUM is a blockchain technology that is based in Singapore. It’s an open-source, decentralized platform that attempts to take advantage of Bitcoin’s success while at the same time competing with both the smart contract and decentralized application market. The goal of this technology is to make it easier and safer for businesses to use smart contracts by allowing them to benefit from BTCs secure blockchain and ETHs smart contracts.

The code used by QTUM is based on BTCs blockchain technology; however, layers have been added to this blockchain to enable the virtual machine of ETH to make smart contracts operable on top of BTC. These modifications allow QTUM to benefit from new advances in both BTC and ETH while allowing ETH-built smart contracts to be easily transported.

QTUM was developed to allow organizations to make use of smart contracts. The intention is to simplify the switch from legacy systems amongst established companies to solutions that are based on the blockchain, thereby improving automation and reducing costs. For example, with QTUM, a business could develop its own cyber coins that could be used to command the products and services that are offered.

QTUM blends together the secure protocol used by BTC with the ETH-based virtual machine. These two elements combine via the QTUM Account Abstract Layer by transporting code between ETHs virtual machine and BTCs core. This combination enables developers to establish and complete smart contracts. In other words, QTUM is an easy to use platform that businesses can use to develop and make use of smart contracts safely and at rapid speed, both on mobile devices and on desktops.

As opposed to the proof-of-work algorithm protocol, QTUM uses a proof-of-stake algorithm. With this protocol, instead of being mined, and blocks are forged, transaction fees and block rewards are offered. Furthermore, developers are given a percentage for the total funds they stake.

Where to Buy QTUM

QTUM can be purchased at several online cryptocurrency exchanges. Some of the most popular exchanges where it can be purchased include:

  • Binance
  • Bittrex
  • Bitfinex
  • Livecoin
  • Changelly
  • Quoine
  • io
  • KuCoin

The majority of QTUM purchases and sales take place via the ZB exchange.

How to Buy QTUM

In order to purchase QTUM tokens, you first need to purchase ETH. Once you purchase ETH, you can then exchange it for QTUM. For this example, we will explain how to purchase ETH on Coinbase, one of the most popular cryptocurrency exchanges.

Buy Bitcoin on Coinbase first to buy QTUMUse the link here or click the image above to get $10 in Bitcoin when you purchase or sell your first $100.

Register on Coinbase

Step 1: Create a Coinbase account

Select the “sign up” tab and complete the form by entering the requested information, including:

  1. Your name (exactly as it appears on your photo identification)
  2. Email address
  3. Password
  4. Location
How to buy Ethereum on Coinbase - Signup

Step 2: Verify your account

  • Issue your phone number
  • Upload an image of your photo ID
  • Verify your credit or debit card, or your bank account information

Step 3: Select the “Buy/Sell” option on the menu, once our account is verified

After verification, select the “Buy/Sell” option on the menu

  1. Choose “Ethereum”
  2. Input how much you would like to purchase
  3. Select the “Buy” button
Buy Bitcoin on Coinbase with Credit Card

Step 4: Confirm your purchase

  • Select the “Confirm Buy” button

Step 5: Open an account on an exchange that accepts QTUM

Binance Frontpage

For the purposes of this example, we are going to use the Binance exchange

Register on Binance

Step 6: Register your Binance account

  1. Enter your email address and a strong password
  2. Agree to the terms of use
  3. Select “Register”
  4. You’ll receive an email to confirm your account
Sign up to Binance

Step 7: Login to your Binance account

Login to Binance

Step 8: Transfer ETH from Coinbase to Binance

  1. Under the “Wallet” tab, select “Deposits”Select Deposit on Binance Menu
  2. Copy the ETH deposit address you are provided withCopy Ethereum deposit address
  3. Log back into Coinbase
  4. Select “Accounts”
  5. Click “Send”
  6. Enter your ETH deposit address
  7. Input the amount of ETH you want to transfer
  8. Select “Continue”

Step 9: Exchange ETH for QTUM Coins

  1. When your ETH has arrived in your Binance account, you can exchange it for QTUM tokens
  2. Select ETH currency
  3. Search for QTUM in the search box and select it

Exchange Ethereum for QTUMSelect whether you want to “Limit” order (you can choose the amount of QTUM you want to purchase) or “Market” buy, which will autofill your order at the best price

Step 10: Select the “Buy” button

  • Once you have chosen the amount of QTUM you would like to purchase, select the “Buy button”
  • Your QTUM order will be immediately filled; your ETH will be transferred into QTUM
How to Buy QTUM on Binance

Exchanges you shouldnt miss when you want to trade crypto

Why Buy QTUM

The mission of QTUM is to become adapted for mainstream use in the business world. While it has yet to achieve that goal, and if it does, it needs to establish that it is a usable platform for businesses, given the fact that there is a large list of high-profile, credible advisors and backers, it is likely that QTUM will achieve its goal. If it does, it is believed that the value of QTUM will soar.

At the time of writing, the current price for QTUM was $2.59 USD and the market cap was $248.66 million USD.

How to Sell QTUM

QTUM coins can be sold for other crypto coins, including ETH and BTC. In order to sell QTUM, use the following steps:

  • Create an account on the altcoin exchange
  • Fund your altcoin account with QTUM tokens
  • Sell QTUM tokens for crypto coins that can be sold for fiat currencies, such as BTC or ETH
  • Sell the crypto coins that you purchased with QTUM tokens for a fiat current, such as Euros or US dollars
  • Withdraw the fiat currency from your altcoin exchange account to your bank account

Which Wallets Can I Use for QTUM?

Several wallets can be used to store QTUM tokens. Some of the most popular wallet options include:

  • QTUM Core wallet
  • Ledger nano
  • QTUM Electrum
  • Virrex
  • Exodux

Conclusion

Because the value of QTUM is projected to increase substantially, this type of cryptocurrency can be considered a wise investment.


No Comments found

Send this to a friend