|Circulating Supply||101,200,524 QTUM|
|Max Supply||0 QTUM|
You are certainly spoiled for choice if you are looking to find a new cryptocurrency to start investing in, as there are literally hundreds of them these days. However, not all will have as much potential as others and it really comes down to how much you believe in a project as to whether you invest in them.
Qtum is one such cryptocurrency that you might consider and when you establish that it aims to combine the blockchain of Bitcoin and the Smart Contract technology of Ethereum, you realise that you have a potential cryptocurrency that makes use of the biggest advantages of the biggest two currencies on the market.
What is The Qtum Coin (QTUM)?
Qtum is a completely decentralized cryptocurrency that was originally developed in 2013 by a company called Quantum Technology. It is built on the stable Bitcoin technology but also makes use of some of the redeeming features of Ethereum such as their Smart Contract and Ethereum Virtual Machine features.
Using the above technologies, Qtum allows senders to easily create smart contracts which are then validated using the Proof of Stake algorithm.
Whats Special About Qtum (QTUM)
In many ways, Qtum is quite similar to that of the NEO cryptocurrency in that it offers the best of the Bitcoin and Ethereum worlds. What makes Qtum special is the following:
- The ability for Decentralized Apps to be Built on the Network – Applications in the future will be able to be built on the network to bring more flexibility and wider usage of the cryptocurrency.
- Stable Like Bitcoin – Bitcoin is widely regarded as the most stable cryptocurrency around and by using their transaction model, QTUm should be as well.
- Versatile Like Ethereum – Adding the more modern features and technologies of Ethereum, entities are now able to govern themselves and interact in a smart manner.
Where to Buy Qtum (QTUM)
Qtum currently has a market cap of $1,792,690,194 and an average daily trade volume that is fast approaching the $400 million mark. It currently sits with a value of $24.27 (as of writing) for a single coin of the Qtum cryptocurrency and many in the industry feel that this value is set to rise in 2018.
With all of that in mind, finding a cryptocurrency exchange that allows the trade of this currency should not be all that hard. In fact, we have found five that you can check out below:
For crypto-to-crypto trades, we recommend that you check out Binance, a new exchange that has earned an excellent reputation in such a short space of time.
Gate.io is also a good choice too as it offers up an excellent range of trading pairs and a large number of cryptocurrencies that can be traded.
Liqui is another good cryptocurrency exchange if you like to have plenty of trades with regards to what you want to trade.
If you want to be able to pay using a credit card for your cryptocurrencies, Bithumb might be one of your better options. Its selection of supported cryptocurrencies is not quite as good as those above, however.
Bter does not accept credit cards but it does allow you trade your cryptocurrencies against the CNY fiat currency. Verification is not required for anyone wishing to trade crypto-to-crypto.
There are a number of other cryptocurrency exchanges that you can use for QTUM as well but just make sure you do a bit of research on them to find out what other people are saying about them. Those above are exchanges that we trust so far and have yet to have had any serious issues.
Investing in Qtum (QTUM)
Qtum and NEO seem to be doing something very similar while at the same time have slightly different goals. However, both of these projects look very promising as they try to capitalize on the core strengths of the big two in the cryptocurrency world.
We can see both gaining in value in 2018 but by how much is anyone’s guess. We are going to be keeping a close eye on both to see how they develop before making a final judgement, something that we suggest you should consider doing as well.
Do I Need a Qtum Wallet?
The world of cryptocurrencies and the trading of them do come with some elements of risk as this industry is not regulated. It is also a big target for hackers as the decentralized nature of cryptocurrencies make it easy for them to get away with hacking more anonymously than ever before.
A hacker can literally steal cryptocurrencies from an exchange and while the transactions can be tracked, once they start trading the stolen currencies for other currencies, there is not a lot that can be done to recoup them
The biggest losers in this situation are the traders at the exchanges that lost some of their currencies, simply because on most occasions, they will not be reimbursed.
This is why wallets are highly recommended as you should avoid leaving your currencies on these exchanges when you are not trading them.
For the very best protection of the cryptocurrencies in your portfolio, hard wallets are the answer. These act as a storage device that you only connect to your computer when making transactions. The rest of the time they are stored somewhere safe in your home as they hold on to your currencies and the public and private keys that are associated with them.
- Ledger Nano S
The popularity of the Ledger Nano S is at such a high level that they are unable to build enough of them. There is a waiting list of a few months at a time to get your hands on one of these. That being said, they are definitely worth the wait if you value your portfolio of cryptocurrencies.
While not ideal as these are not quite as safe as hard wallets, these are better than nothing. Wallets that you find online will either be web-browser-based, app-based or downloadable clients that store your cryptocurrencies locally on your machine.
You have to be careful when looking for a wallet that you do your homework as there has been a number of scam wallets created in the past that do nothing other than stealing the currencies placed inside them.
- Qtum Wallet
This is the official wallet of Qtum and it can be downloaded to be used on your desktop, mobile or be used in a web-based environment. Developed by Qtum themselves, this would probably be the safest option for your cryptocurrencies if you are not using a har wallet.
Jaxx is a wallet that can either be downloaded as an app or used as a browser extension. This wallet has earned good reviews since its release and allows for the storage of many different cryptocurrencies. Anonymity and security are their biggest focuses – which is always nice to hear.
Pros & Cons
Qtum is certainly a cryptocurrency to watch in our opinion but it does lack the glamour and branding of some of the other big names. They have some work to do if they want to get their name and what they are doing, out there to the masses.
Still, the system certainly has big potential and should definitely be considered as a possible investment. Here are the pros and cons:
- A good combination of the strong points of Bitcoin and Ethereum.
- Strong development team.
- Transparent roadmap of milestones.
- Lacking in marketing.
- Potential scalability issues