Since Bitcoin blazed the trail some years ago, the world of cryptocurrencies has seen the development of different digital currencies that have gradually appreciated in value to the delight of cryptocurrency investors.
Another digital currency in the horizon is Qtum. Currently (8th October 2017), the coin is valued at a little less than $12 per coin. It is believed that just like other currencies, Qtum will appreciate in the future. Before it becomes the go-to digital currency, let me talk a bit about Qtum and how to buy Qtum coins.
Table of Contents
The Fundamentals of Qtum
One of the primary objectives of creating this digital currency is to build a UTXO-based smart contrast system that is first of its kind. The system will come with a consensus model that is strictly proof-of-stake (PoS).
To ensure a pragmatic design approach, the coin uses mobile devices strategy. This allows the technology promoting the coin to be available for many Internet users since the higher percentage of Internet users use mobile devices. Thus, the use of the mobile device technology ensures the PoS transaction validation to be decentralized.
In a nutshell, the coin is a Blockchain project that makes allowance for Smart Contracts and Decentralized Applications to be executed as an integral part of a UTXO-based transaction. This allows the porting of Ethereum applications that are already in existence to Blockchain from Quantum. The core development of the coin is the brainchild of Quantum Foundation, an organization that is registered in Singapore.
By combining the infrastructure of modified Bitcoin Core with EVM, Qtum combines the reliability that is the trademark of Bitcoin Blockchain with the best attributes of smart contracts. The latter is known for providing users with endless possibilities.
Qtum also supports the Simple Payment Verification (SPV) as a result of the Bitcoin’s UTXO model on which the digital coin is built. That makes it easy to carry out smart contracts from a lite wallet. The wallet is very easy to install on any mobile device, thus capitalizing on mobile decentralized applications that are parts of the modern age.
When designing Qtum, the company focused on modularity, stability, and interoperability. This makes the coin to be the best toolkit for individuals or organizations that want to build decentralized applications that are credible and trusted. The applications are equally business-oriented and can be used in real-world.
Since it is hybrid in nature and has a wonderful PoS protocol, Qtum applications are compatible with a wide variety of Blockchain ecosystems. It also provides native support for IoT appliances and mobile devices as well.
How to Buy Qtum Coins?
Currently, Qtum looks pretty much attractive. After China ban, several currencies have bleeded, but considering that China will likely resume crypto trading, Qtum looks pretty much for a new run.
Please note that we are not giving any investment advice to buy/sell /hold. Please DYOR before transacting in Qtum coin.
So now, if you are interested in buying Qtum token, follow this step-by-step guide and you will be able to buy the coin and store it while it appreciates.
- Recommended Reading – How to Buy Ethereum
Step 2: On Bittrex Qtum is available against Bitcoin and Ethereum. Hence, you need to 1st buy either Bitcoin or Ethereum.
- Recommended Reading – Earn Free Bitcoin using Unocoin Coupon
Step 3: If you are buying Bitcoin / Ethereum from any other exchange than Bittrex, then you need to transfer BTC / ETH from your wallet to Bittrex wallet. The transfer process might take few minutes.
- Units – Enter the number of QTUM coins you want to buy (in the above example we have purchased 10 coins).
- Bid – There is a drop-down menu available for placing the bid price. You can either pace your own quote price, or select the last bid / ask price.
- Total – You would see the total BTC / ETH cost (including the commission).
Now you are all set to click Buy Qtum, and see them in your Bittrex Wallet!
Best Qtum Wallets
Now that you have purchased Qtum coins, you need to store them well. So the next question in your mind would be, which is the Best Qtum wallet to store the Qtum coins that you have purchased.
If you are buying Qtum from Bittrex, then your Qtum coins will be automatically stored in your Bittrex wallet. So you need now worry about another Qtum wallet.
Liqui.io is another great wallet to store your coins, and it does store Qtum coins. The minimum amount of deposit in Liqui is 1 Qtum.
Be very careful while transferring Qtum coins to Liqui. In your Liqui deposit address, send only Qtum coins. Even if you mistakenly send BTC / ETH or any other coins to the Liqui Qtum deposit address, then you will permanently lose those coins.
Most importantly, make sure you back up your wallet. If you consider the coin to be cheap today and don’t handle it carefully, that will hunt you if it appreciates reasonable well after you have lost it. Remember, no investor expected Bitcoin to be as valuable as it is today. If an investor carelessly lost some Bitcoin coins at its initial stage of development, imagine what a great loss that is. So, guard it jealously!
We hope you found the details about Qtum informative, and the guide on how to buy Qtum coins was easy to understand.
Also, if you have any other good information/analysis on Qtum coins, and if you are using any Qtum wallet than Bittrex or Liqui, then please do share the details in the comments below.