How To Buy Qtum (QTUM)?

How To Buy Qtum (QTUM)

A common question you often see on social media from crypto beginners is “Where can I buy Qtum?” Well, you’ll be happy to hear it is actually quite a simple and straightforward process. 

Step 1: Create an account on an exchange that supports Qtum (QTUM)

First, you will need to open an account on a cryptocurrency exchange that supports Qtum (QTUM).
We recommend the following based on functionality, reputation, security, support and fees:

1

 Binance

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 MEXC

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3

 Gate.io

Create Gate.io Account

Fees (Maker/Taker)                    0.2%*-0.2%*

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Available for Trade                           
1000+

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 Up to $100 in USDT vouchers*

Available in
Europe, Asia, Oceania, Africa

In order to sign up, you will need to enter some basic information, such as your email address, password, full name and, in some cases, you might also be asked for a phone number or address.

Note: On specific exchanges, you might need to complete a Know Your Customer (KYC) procedure in order to be able to purchase cryptocurrency. This is most commonly the case with licensed and regulated exchanges.

Step 2: Deposit funds into your account

Many cryptocurrency exchanges will allow you to purchase Qtum (QTUM) with fiat currencies, such as EUR, USD, AUD and others. Furthermore, they will also provide you with multiple deposit methods through which you can fund your fiat account, such as credit and debit cards, ewallets or direct bank transfers.

Note: Some payment methods will have higher fees than others, such as credit card payments. Before funding your fiat account on your chosen exchange, make sure to do your due diligence to find out the fees involved with each payment method to avoid unnecessary costs.

Step 3: Buy Qtum (QTUM)

This process is similar across almost every cryptocurrency exchange. All you have to do is find a navigation bar or a search bar, and search for Qtum (QTUM) or Qtum (QTUM) trading pairs. Look for the section that will allow you to buy Qtum (QTUM), and enter the amount of the cryptocurrency that you want to spend for Qtum (QTUM) or the amount of fiat currency that you want to spend towards buying Qtum (QTUM). The exchange will then calculate the equivalent amount of Qtum (QTUM) based on the current market rate.

Note: Make sure to always double-check your transaction details, such as the amount of Qtum (QTUM) you will be buying as well as the total cost of the purchase before you end up confirming the transaction. Furthermore, many cryptocurrency exchanges will offer you their own proprietary software wallet where you will be storing your cryptocurrencies; however, you can create your own individual software wallet, or purchase a hardware wallet for the highest level of protection.

How to create a Binance account

Create Binance Account

Show Detailed Instructions

Step 1: Go to the Binance website.

Step 2: On the registration page, enter your email address, and create a password for your account.
Then, read and agree to the Terms of Service and click “Create Account”.

How To Create a Binance Account Step 2

Note: Your password must be a combination of numbers and letters.
It should contain at least 8 characters, one UPPER CASE letter, and one number.

Step 3: Complete the Security Verification.

How To Create a Binance Account Step 3

Step 4:
The system will send a verification code to your email. The verification code is valid for 30 minutes. If you can’t find the email in your inbox, check your other mail folders as well, or click “Resend Email” to resend.
How To Create a Binance Account Step 4
Congratulations, you have successfully registered on Binance.

How to complete KYC (ID Verification) on Binance

Step 1: Log in to your Binance account and click “User Center” and then “Identification”.
 

How To Complete KYC ID Verification on Binance Step 1 - How To Buy Qtum

Step 2: click “Start Now” to verify your account.

How To Complete KYC (ID Verification) on Binance Step 2

Step 3: Select your country of residence.
Ensure that your country of residence is consistent with your ID documents.

How To Complete KYC ID Verification on Binance Step 3 - How To Buy Qtum

You will then see the list of verification requirements for your specific country/region. Click “Continue”.
How To Complete KYC (ID Verification) on Binance Step 4

Step 5: Enter your personal information and click “Continue.”

Make sure that all the information entered is consistent with your ID documents.
You won’t be able to change it once confirmed.
How To Complete KYC ID Verification on Binance Step 5 - How To Buy Qtum
Step 6: Next, you will need to upload pictures of your ID documents. Choose the type of ID and the country your documents were issued. Most users can choose to verify with a passport, ID card, or driver’s license.
Refer to the respective options offered for your country.
How To Complete KYC (ID Verification) on Binance Step 6

Step 7: Follow the instructions to upload photos of your document. Your photos should clearly show the full ID document.

For example, if you are using an ID card, you have to take photos of the front and back of your ID card.
How To Complete KYC (ID Verification) on Binance Step 7
Step 8: After uploading the document photos, the system will ask for a selfie. Click “Upload File” to upload an existing photo from your computer.
How To Complete KYC ID Verification on Binance Step 8 - How To Buy Qtum
Step 9: After that, the system will ask you to complete face verification. Click “Continue” to finish face verification on your computer. Alternatively, you can move your mouse to the QR code on the bottom right to complete the verification on your phone instead. Scan the QR code via your phone’s camera to finish the face verification process.
Do not wear hats, glasses, or use filters, and make sure that the lighting is sufficient.
How To Complete KYC ID Verification on Binance Step 9 - How To Buy Qtum
After completing the process, please wait patiently.
Once your application has been verified, you will receive an email notification.

How to buy cryptocurrency on Binance

Step 1: Log in to your Binance account and click “Buy Crypto” and then “Credit/Debit Card”. 

How To Buy Cryptocurrency on Binance Step 1

Step 2: Here you can choose to buy crypto with different fiat currencies. Enter the fiat amount you want to spend and the system will automatically display the amount of crypto you can get. When you have selected the amount you wish to spend then press “Continue”.

Note: You might not be able to purchase every cryptocurrency directly using fiat, if you’re looking to purchase something that isn’t offered in the currency list on this page, then you will want to purchase USDT. We will then show you how to exchange that on the spot-market for the cryptocurrency that you want in the next section of this guide.

How To Buy Cryptocurrency on Binance Step 2 - How To Buy Qtum

Step 3: Click “Add New Card”. Then enter your credit card details and your billing address.

How To Buy Cryptocurrency on Binance Step 3 - How To Buy Qtum

Step 4: Check the payment details and confirm your order within 1 minute. After 1 minute, the price and the amount of crypto you will get will be recalculated. You can click “Refresh” to see the latest market price. You will then be redirected to your bank’s OTP Transaction Page. Follow the on-screen instructions to verify the payment.

How To Buy Cryptocurrency on Binance Step 4

How to Conduct Spot Trading on Binance

Step 1: Log in to your Binance account.
Click on “Classic” under “Trade” on the top navigation bar.

How to Conduct Spot Trading on Binance Step 1

Step 2: Search and enter the cryptocurrency you want to trade.

How to Conduct Spot Trading on Binance Step 2 - How To Buy Qtum

Step 3: Set buying/selling prices and buying/selling amount (or exchange total). Then click on “Buy”/”Sell”.

(Note: The percentages under the “Amount” box refer to percentages of the total account balance.)

How to Conduct Spot Trading on Binance Step 3 - How To Buy Qtum

Step 4: If you don’t want to set a manual price, you can place a “Market Order” to set the buying/selling price automatically.

How to Conduct Spot Trading on Binance Step 4

Hide Detailed Instructions

How to create a Gate.io account

Gate.io

Show Detailed Instructions

Step 1: Go to the Gate.io website.

Step 2: Choose your username, your email address and your password. Then check “I certify that I am 18 years of age or older, and I agree to the Gate.io User Agreement Privacy Policy” and click “NEXT”.

How To Create a Gate.io Account Step 2

Step 3: Set your fund password and click “Create account”.
Note: Your fund password must contain at least 6 characters and can not be the same as your login password.
How To Create a Gate.io Account Step 3
Step 4: An activation email will be sent to your email address. Complete the rest of the registration process by following the instructions in the email to activate your account. Once this is done done, click “Email activated, please log in”.

How To Create a Gate.io Account Step 4

How to complete KYC (ID Verification) on Gate.io

In order to ensure the safety of your assets, and to reduce fraud, money laundering, blackmail, and other illegal activities, Gate.io makes it mandatory that all users obtain KYC ID Verification. Only after your account has obtained KYC ID verification, can you withdraw funds or use credit cards or debit cards to buy cryptocurrencies.

Step 1: Log in to your Gate.io account.
Place your cursor on the top-right profile icon and go to “KYC (ID Verification)”

How To Complete KYC (ID Verification) on Gate.io Step 1

Step 2: Click “Individual (Verify now)”

How To Complete KYC (ID Verification) on Gate.io Step 2

Step 3: Select your country, input your full legal name (twice), fill in your ID information, upload photos of both sides of your ID card, and a photo of you holding your ID together with your User ID (UID) for Gate.io. You will see your User ID by placing the cursor on the top-right profile icon on the main page. Make sure everything is filled in correctly and then click on “Confirm and Submit”.

How To Complete KYC (ID Verification) On Gate.io Step 3

How To Complete KYC (ID Verification) On Gate.io Step 4

Step 4: After you have submitted all the requested information, you will see the pending approval.
Approval can take anywhere from a few hours to a few days to complete.

How To Complete KYC (ID Verification) On Gate.io Step 5

Once the KYC is approved, you’re ready to make your first cryptocurrency purchase.

How to buy cryptocurrency on Gate.io

Step 1: Log in to your Gate.io account.
Then in the Menu Bar at the top of the page, click “Buy Crypto” and select “Credit Card”.

How To Buy Cryptocurrency on Gate.io Step 1

Step 2: Enter the amount you wish to spend in the “Buy with Fiat Currency” tab and select the cryptocurrency that you want to buy under the “Currency Purchased” field. Then select one of the “Service Providers” below and click the “Place Order” button to enter the confirmation page.

Note: You might not be able to purchase every cryptocurrency directly using fiat, if you’re looking to purchase something that isn’t offered in the currency list on this page, then you will want to purchase USDT. We will then show you how to exchange that on the spot-market for the cryptocurrency that you want in the next section of this guide.

How To Buy Cryptocurrency on Gate.io Step 2

Step 3: On the confirmation page, select “Buy Crypto” or the “Create Order” button to complete the payment.

Note: To ensure a quick and secure way of receiving the order, users might need to conduct an additional Identity Verification (KYC) with a third-party service provider. Once successfully verified, the service provider will immediately transfer the cryptocurrencies to your Gate.io account.

How to Conduct Spot Trading on Gate.io

Step 1: Log in to your Gate.io account.
Click on “Spot Trading” under “Trade” on the top navigation bar.
You can either choose “standard” or “professional” version. This tutorial uses the standard version.

How to Conduct Spot Trading on Gate.io Step 1

Step 2: Search and enter the cryptocurrency you want to trade.

How to Conduct Spot Trading on Gate.io Step 2

Step 3: Set buying/selling prices and buying/selling amount (or exchange total). Then click on “Buy”/”Sell”.
(Note: The percentages under the “Amount” box refer to percentages of the total account balance.)

How to Conduct Spot Trading on Gate.io Step 3

Step 4: If you don’t want to set a manual price, you can click on the last prices on the order book to set the buying/selling price automatically.

How to Conduct Spot Trading on Gate.io Step 4

Step 5: Confirm the price and amount. Then click on “Place Order” to place the order, followed by “Confirm Order” to confirm it.

How to Conduct Spot Trading on Gate.io Step 5

 

Hide Detailed Instructions

For more in-depth instructions, our ‘Absolute Beginner’s Guide To Cryptocurrency Investing‘ will take you through the process step-by step. In addition to providing instructions for sending and receiving your cryptocurrency.
And if you’re completely new to crypto our beginner, intermediate and advanced level articles will get you up to speed with everything you need to know about the cryptocurrency space starting out. 

Simplecryptoguide.com

What Is Qtum (QTUM)?

Qtum is an open-source blockchain platform that takes some of the best parts of Bitcoin and Ethereum and wraps them into a developer-friendly platform capable of supporting highly secure decentralized applications (DApps). 

Specifically, Qtum takes Bitcoin’s UTXO transaction model and combines it with an adaption layer interface to the Ethereum Virtual Machine to produce the first UTXO-based smart contract platform. Unlike Bitcoin and Ethereum (for now), Qtum is secured by proof-of-stake (PoS). 

The platform features a theoretical throughput of up to 70 transactions per second (TPS) — making it around 16 times faster than Bitcoin and seven times faster than Ethereum. It also features low inflation and fairly distributed block rewards, ensuring stakeholders are properly compensated for securing the network.

Qtum was founded in 2016 and launched its mainnet in September 2017. Like many 2016-2017 era platforms, Qtum was originally funded through an initial coin offering (ICO), raising a total of $15.6 million in Bitcoin (BTC) and Ethereum (ETH). At the time, this was the fourth highest-grossing ICO ever. 

How Does Qtum Work?

Qtum builds on Bitcoin’s UTXO transaction model by layering on additional scripting capabilities, allowing developers to build powerful decentralized applications on top of the platform. Developers have leveraged these capabilities to build out Qtum’s rapidly growing DApp ecosystem — which includes decentralized games, search engines, payment toolkits, social networks and more. 

One of Qtum’s defining features is its account abstraction layer (AAL). This essentially bridges the code gap between Qtum’s UTXO base blockchain with the account model used by its virtual machine, enabling more powerful smart contract capabilities. 

It’s secured by a custom variant of proof-of-stake (PoS) and recently added an “offline staking” capability allowing non-custodial address delegation to an online “super staker.” Qtum PoS uses the Qtum Core full node wallet to earn network rewards for staking QTUM and publishing blocks. 

In April 2021, Qtum underwent a hard fork (known as FastLane) which saw the average block time reduced from 128 to 32 seconds, increasing block production four-fold. This upgrade is expected to better prepare Qtum for growing DeFi activity while improving confirmation times for standard transactions. 

What is the QTUM token?

The QTUM token is the native gas token for transactions and smart contract transactions on Qtum and is also the reward token for node operators. 

Who Are the Founders of Qtum?

Patrick Dai is the project’s founder and the chairman of the Qtum Foundation. He studied computer science in Draper University and then dropped out of PhD from the Chinese Academy of Sciences. He started his career as a product manager at Alibaba and then worked on a series of blockchain projects, including Factom, Vechain, Bitse Group and Meilink before starting Qtum in 2016.

The other two co-founders are the CTO and blockchain architect Neil Mahi and lead developer Jordan Earls.

Many of the team members listed on the Qtum official website seem to not have an active Linkedin page or a Github profile. It is confirmed though that Qtum has several high-profile backers, including the Bitcoin.com’s Roger Ver and Jeremy Gardner, an early crypto investor turned skincare professional, co-founder of Augur and EIR in Blockchain Capital.

What Makes Qtum Unique?

Qtum is a general purpose blockchain that tries to address four issues its founders found most problematic in BTC and ETH blockchain platforms: interoperability, governance, rigidity and costliness of proof-of-work mechanism and difficulty of connecting smart contracts with real life applications. The Qtum blockchain has two unique technologies that aim to solve that: Account Abstraction Layer (AAL) and Decentralized Governance Protocol (DGP).

The Account Abstraction Layer integrates the UTXO (Unspent Transaction Output) account layer inherited from Bitcoin with the smart contract layer, inspired by Ethereum. It allows users to build applications and host them on virtual machines, including the Ethereum Virtual Machine (EVM), and the x86 virtual machine. It also supports i686 instruction set and several programming languages like C, C++, Rust and Python, which makes it very easy to adopt existing apps and compile for Qtum. Not only does it allow turing-complete smart contracts, Qtum also plans to integrate common programming libraries in the form of smart contracts.

The Decentralized Governance Protocol allows smart contracts to change the core parameters of the network such as block size and gas fees without ever needing to hard fork the blockchain, which may save a lot of trouble as the network is evolving. Miners (stakers), developers and QTUM holders within the entire ecosystem are involved in blockchain governance through voting, and the blockchain can realize self-management, upgrades and iteration.

Official website: https://qtum.org/en

Best cryptocurrency wallet for Qtum (QTUM)

There are plenty of different crypto wallets available. The best one for you depends on your general trading habits and which provides the most security in your situation. There are two main types of wallets: hot storage wallets (digital) and cold storage or hardware wallets (physical). Both have their pros and cons, and there is not necessarily a right or wrong answer when it comes to figuring out which crypto wallet is best for you.

HOW DO I DECIDE WHICH cryptocurrency WALLET TO USE for Qtum (QTUM)?

Deciding which type of wallet to use depends on a variety of factors, including:

  • How often you trade. In general, hot wallets are better for more active cryptocurrency traders. Quick login ability means you are only a few clicks and taps away from buying and selling crypto. Cold wallets are better suited for those looking to make less frequent trades. 
  • What you want to trade. As mentioned earlier, not all wallets support all types of cryptocurrencies. However, some of the best crypto wallets have the power to trade hundreds of different currencies, providing more of a one-size-fits-all experience.
  • Your peace of mind. For those worried about hacking, having a physical cold wallet stored in a safe deposit box at the bank or somewhere at home, provides the safest, most secure option. Others might be confident in their ability to keep their hot wallets secure.
  • How much it costs. It is important to investigate the costs associated with each wallet. Many hot wallets will be free to set up. Meanwhile, cold wallets, like any piece of hardware, will cost money to purchase.
  • What it can do. While the basics of each cryptocurrency wallet are the same, additional features can help set them apart. This is especially true of hot wallets, many of which come with advanced reporting features, insights into the crypto market, the ability to convert cryptocurrencies and more. Security features can also be a good differentiator.

For a more in-depth overview of cryptocurrency wallets visit our “Cryptocurrency Wallets Explained” guide.

If you’re going to be dealing in larger volumes of crypto, investing in cold storage might prove advantageous.
Most widespead examples of this being the Ledger Nano and the Trezor.

Ledger manufactures cold storage wallets designed for users who want increased security. Their wallets are a physical device that connects to your computer. Only when the device is connected can you send your cryptocurrency from it. Ledger offers a variety of products, such as the Ledger Nano S and the Ledger Nano X (a bluetooth connected hardware wallet).

Trezor is a pioneering hardware wallet company. The combination of world-class security with an intuitive interface and compatibility with other desktop wallets, makes it ideal for beginners and experts alike. The company has gained a lot of the Bitcoin community’s respect over the years. Trezor offers two main models – The Trezor One and Trezor Model T (which has a built in touch screen).

Ledger Hardware Wallet
Trezor Hardware Wallet

Market Overview

Coinmarketcap.com

Find the latest Qtum (QTUM) price chart, trade volume, market cap, and other vital information to help you with your cryptocurrency trading and investing.

Coinmarketcap will be your cryptocurrency go-to for just about everything. Here you can see the following:

Market Capitalization And Daily Trading Volume

Current Market Price Of Every Cryptocurrency Relative To USD (And Some Local Currencies)

Circulating And Total Supply

Historical Charts With Prices Relative To USD, Bitcoin (BTC), And Ethereum (ETH).

CMC - How To Buy Qtum
Last updated Apr 14, 2022

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