Qtum is a blockchain project that aims to combine the best of Bitcoin and Ethereum in one platform. On this page, Knaken explains what Qtum (QTUM) is and you'll get some useful tips for when you decide to buy or sell Qtum.
Qtum, pronounced as quantum, is an open-source platform on which value can be sent, but also smart contracts can be developed and executed. It mainly focuses on mobile decentralized applications. Qtum was the first smart contract platform to run on the proof-of-stake (PoS) protocol. The PoS protocol is much more efficient, for example, Ethereum.
Qtum makes it possible to use external information for smart contracts. These contracts execute a specific program based on this information. Smart contracts on the Ethereum blockchain can only use internal information for this. Smart contracts on the Qtum chain can also use information from outside the blockchain, which offers great possibilities.
Another aspect of blockchain that Qtum tries to solve is the problem that if you want to use Ethereum, for example, you first have to download the entire blockchain. This is often no problem for computers and laptops. However, a large group of users cannot reap the benefits of blockchain technology because of this: mobile phone users. They often only have small amounts of storage space and therefore cannot be full-fledged nodes of Ethereum.
Buy Qtum (QTUM) safely and easily via Knaken+
Did this short introduction get you excited for Qtum? Then it might be an idea to buy some Qtum. You can buy Qtum via different Exchanges, like Binance. Aside from the major exchanges, there are many other possibilities to buy Qtum.
You can buy Qtum via over-the-counter (OTC) platforms. These are often local businesses that sell cryptocurrency directly. This means that when you buy Qtum from such a company, you get the Qtum deposited directly in your wallet. This is safer and offers more privacy.
Sell Qtum (QTUM) safely and easily via Knaken+
Selling Qtum is quite easy nowadays. For example, you can choose to sell your Qtum via one of the aforementioned platforms. Pay attention to the price you can get for your Qtum. This way you avoid paying too much or receiving too little. Do this by comparing the prices on different platforms. Further on you'll be able to read some more tips for selling or buying Qtum.
Knaken helps you buy or sell Qtum safely and easily. It doesn't matter if you are a beginner or a veteran. These three simple steps apply to everyone.
• Select your cryptocurrency
• Pay via payment methods such as IDEAL.
• Receive and manage your crypto in your Knaken dashboard or your own wallet.
Why do people buy or sell Qtum?+
Once you have researched the underlying technology of the Qtum ecosystem and the team's roadmap, you may want to invest some money in Qtum. This can generate a nice return in the long run. You can also actively trade with Qtum on exchanges such as Binance or Knaken. Active trading with crypto does expose you to extra risks as the price can be quite volatile.
Finally, if you just want to use the Qtum network, you'll need to buy Qtum. Once you have Qtum in your wallet, you can, for example, send the cryptocurrency to your friends who also have a Qtum wallet.
Why choose Knaken?+
• Safe & Easy
• No extra costs
• Manage crypto via your Knaken Dashboard or your wallet
• Knaken has its own exchange
Important tips when buying/selling Qtum+
Do you want to buy Qtum? First, make sure you have a cryptocurrency wallet that supports Qtum. You can choose to store Qtum in your Ledger hardware wallet, one of the safest options. You can also decide to go for software wallets, these are wallets that are stored on your PC.
Where to buy Qtum? To get an answer to this question, you first need to properly research the company you are eyeing to buy Qtum from. In case the website looks cheap or ugly, be extra careful. Search for reviews on Trustpilot, for example, and ask about other people's experiences with the company. This gives you a better overview of the company, how people think of it and if you can trust them.
Finally, it is important that you think carefully about how much money you want to put into it. How much you should put into it partly depends on your own financial situation and what you want to do with your Qtum. Only put money in Qtum that you can really miss. The price, like most other cryptocurrencies, is very volatile. It is possible that your Qtum loses a lot of value in a matter of minutes.