Where To Exchange Qtum (QTUM) - Best Platforms With Reviews
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Where can you exchange Qtum (QTUM) in 2024?
Where Can You Exchange Qtum (QTUM)
Qtum (QTUM) is a hybrid blockchain platform that combines the best features of Bitcoin and Ethereum. This innovative platform is designed to offer the security and simplicity of Bitcoin with the flexibility and scalability of Ethereum’s smart contracts. If you’re interested in trading or investing in Qtum, knowing where to exchange Qtum (QTUM) is essential. This article will provide a detailed guide on the best platforms to exchange Qtum, along with an overview of the cryptocurrency, its history, and the technology behind it.
Understanding Qtum (QTUM)
What is Qtum?
Qtum is a blockchain platform that aims to bridge the gap between Bitcoin’s secure transaction model and Ethereum’s smart contract capabilities. It uses a modified version of Bitcoin's core, combined with an Account Abstraction Layer (AAL) that allows the Ethereum Virtual Machine (EVM) to run on top of it. This hybrid approach provides the security of Bitcoin’s UTXO model while enabling the execution of smart contracts and dApps.
Historical Background
Qtum was founded in 2016 by Patrick Dai, Neil Mahi, and Jordan Earls. The project raised over $15 million in its initial coin offering (ICO) in March 2017, which was one of the most successful ICOs at the time. Qtum's mainnet launched in September 2017, and since then, it has continued to develop and expand its ecosystem, attracting various partnerships and projects.
Core Technologies and Features
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Account Abstraction Layer (AAL): This layer allows Qtum to support both the UTXO transaction model from Bitcoin and the EVM for smart contracts, providing a unique hybrid architecture.
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Decentralized Governance Protocol (DGP): Qtum uses a governance mechanism that allows blockchain parameters to be modified through smart contracts, enabling more flexibility and adaptability without requiring a hard fork.
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Staking: Qtum uses a Proof-of-Stake (PoS) consensus mechanism, which allows users to stake their QTUM tokens to secure the network and earn rewards.
Platforms for Exchanging Qtum (QTUM)
Major Cryptocurrency Exchanges
Several major cryptocurrency exchanges support the trading of Qtum (QTUM), offering liquidity and a secure environment for transactions:
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Binance: Binance is one of the largest and most popular cryptocurrency exchanges globally. It supports a wide range of cryptocurrencies, including QTUM. Binance offers various trading pairs for QTUM, such as QTUM/BTC and QTUM/USDT, and provides a user-friendly interface along with advanced trading features.
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Coinbase: Coinbase is a well-known and trusted exchange that supports QTUM trading. It offers a straightforward platform for buying, selling, and holding cryptocurrencies, making it an excellent choice for beginners.
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Kraken: Kraken is a reputable exchange known for its robust security measures and extensive list of supported cryptocurrencies. QTUM can be traded on Kraken with pairs like QTUM/USD and QTUM/EUR. The platform offers both basic and advanced trading options to cater to different user needs.
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Huobi Global: Huobi is a global exchange that supports QTUM trading. It offers various trading pairs, including QTUM/BTC and QTUM/ETH. Huobi is known for its low trading fees, user-friendly interface, and a wide range of supported cryptocurrencies.
Decentralized Exchanges (DEXs)
For those who prefer decentralized trading environments, several DEXs support Qtum (QTUM):
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Uniswap: Uniswap is a leading decentralized exchange that allows users to trade QTUM directly from their Ethereum wallets. Uniswap’s automated liquidity pools facilitate seamless trading without the need for a central authority.
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SushiSwap: SushiSwap provides liquidity pools and yield farming opportunities for QTUM holders. It offers a robust trading platform with a range of features designed for DeFi enthusiasts.
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1inch: 1inch is a DEX aggregator that finds the best rates across various decentralized exchanges, allowing users to trade QTUM at the most competitive prices.
Investing and Storing Qtum (QTUM)
Choosing the Right Wallet
To securely store QTUM, selecting a compatible wallet is crucial:
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Qtum Core Wallet: The Qtum Core Wallet is the official wallet developed by the Qtum team. It supports staking and allows users to manage their QTUM and tokens securely.
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Ledger Nano S/X: Hardware wallets like Ledger provide an excellent option for storing QTUM offline, protecting it from online threats.
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Trust Wallet: Trust Wallet is a mobile wallet that supports multiple cryptocurrencies, including QTUM. It provides a secure and easy-to-use interface for managing digital assets.
Security Best Practices
When dealing with cryptocurrencies like QTUM, following security best practices is essential:
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Use Strong Passwords and Enable 2FA: Ensure that all your accounts and wallets use strong, unique passwords and enable two-factor authentication (2FA) for added security.
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Regular Software Updates: Keep your wallet software updated to protect against vulnerabilities.
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Cold Storage: For long-term storage, consider using a hardware wallet or other forms of cold storage to keep your QTUM offline and secure.
The Future of Qtum
Ongoing Developments
Qtum’s development team continues to innovate, with plans to expand their ecosystem and integrate more features into the platform. Future developments may include additional partnerships with businesses, enhancements to the Qtum API suite, and further improvements to the network's scalability and efficiency.
Community and Ecosystem Growth
The growth of the Qtum community is a key factor in the project’s success. Active participation through social media, forums, and development contributions helps foster a vibrant and supportive community. The project’s focus on community-driven development ensures that user feedback and suggestions play a significant role in shaping the future of Qtum.
Conclusion
Qtum (QTUM) represents a significant innovation in the blockchain space, offering a robust and secure solution for hybrid blockchain applications. For those interested in trading or investing in QTUM, the platforms listed above provide various options to buy, sell, and hold this unique cryptocurrency securely. By leveraging these exchanges and adhering to best security practices, users can confidently participate in the Qtum ecosystem. As the project continues to evolve, Qtum’s blend of technological innovation and community-driven development positions it as a valuable asset in the world of decentralized applications.
When choosing a platform to exchange Qtum (QTUM),
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HitBTC Cryptocurrency Exchange is a platform created in 2013 that allows you to trade more than 300 cryptocurrency pairs. The platform was launched back in 2013 and the investments it received amounted to about 6 million dollars.
Binance is currently one of the biggest and most popular cryptocurrency exchanges. Originally coming from Hong Kong, the company has recently moved its headquarters to Malta. Back at the beginning of its path the company had an ICO and gathered 15 mln USD. Participants got Binance Coin (BNB) which could be used to trade cryptocurrencies and pay for a fee on Binance exchange.
Coinbase is a leading digital currency platform and wallet where sellers and buyers can transact with new types of digital currencies such as Bitcoin, Ethereum, Litecoin, and Bitcoin Cash. The exchange was founded by Brian Armstrong and Fred Ehrsam in 2012 and is based in San Francisco, California. They focus on the US market, however, the company currently operates in 31 countries and offers storage of bitcoins in 190 countries around the world.
Founded in 2017, Bibox is an online crypto exchange where users can trade a wide range of digital currencies in pairs with BTC, ETH, USDT, DAI, and BIX. BIX is Bibox’s native token, which allows its holders to access discounted trading fees. The exchange has around 30 currencies listed at the moment and 179 markets running according to CoinMarketCap.
Bithumb is a cryptocurrency exchange that is based in Seoul, South Korea.
The platform was founded in 2013. It allows users to buy, sell, and store various cryptocurrencies.
In South Korea, Bithumb is one of the largest exchanges, and it boasts some of the biggest crypto trading volumes.
Coinspot wallet is a special service provided by Coisnpot exchange. It provides a hot wallet for every coin its exchange is currently trading. Alongside with crypto, it also supports the Australian Dollar. Currently ,CoinSpot wallet has more than 60 coins and tokens. Built-in exchange is an additional feature of the wallet as well as 2FA for the additional security. The only language available is English.
Exodus is a top-tier multi-cryptocurrency wallet with rich opportunities for personalization and numerous available features. It was founded in 2016 with the idea to provide crypto beginners with a convenient tool to handle their coins. There is no sign-up or maintenance fee charged for its use.
ABCC is a Centralized cryptocurrency exchange based in Singapore. The exchange was launched in 2018. ABCC has 132 available trading pairs and 73 coins. Deposits are Free on the exchange. ABCC doesn't have Fiat deposits option. Margin trading option is not available on the exchange.
Abra is the investment product and a mobile crypto wallet that can be used on both Apple and Android platforms. Abra supports cash-out transactions as well as bank transfers.
Altcoin Trader is a Centralized cryptocurrency exchange based in South Africa. The exchange was launched in 2014. Altcoin Trader has 20 available trading pairs and 21 coins. The exchange uses the Ordinary procedure for verification including two-step verification process and Know Your Customer (KYC) procedure. If you want to raise the account limits and minimize processing time you must go all the way, uploading ID card, proof of residence, etc.
BCEX is a centralized cryptocurrency exchange based in Hong Kong. The exchange was launched in 2017. Its reported volume is about 65 mln. $. BCEX has 66 available trading pairs and 61 coins.
BCEX doesn't have Fiat deposits option. The exchange does not accept any other deposit method than cryptocurrencies. Margin trading option is not available on the exchange.
BigONE is a centralized cryptocurrency exchange. The exchange was launched in 2017. Its reported volume is about 180-200 mln. $. BigONE has 117 available trading pairs and 75 coins. Deposits are free on the exchange. BigONE doesn't have fiat deposits option. Margin trading option is not available on the exchange.
Withdrawal fees can reach up to 0.0002 BTC.
Binance Uganda exchange was officially launched in 2018. It’s based in in Uganda, Africa. It provides on the biggest fiat-to-crypto trading platform in Africa. The investors can trade with Ugandan Shillings (UGX) with Bitcoin (BTC) and Ethereum (ETH). This is the main distinguish feature of the platform; the possibility to use the African fiat currency.
Bitfinex is one of the largest exchanges in terms of daily trading volumes and overall recognition. It was founded in 2012 and it is based in Hong Kong. 72 trading pairs are currently available on the platform. The pairs are linked to the four currencies including USD, EUR, BTC and ETH.
BitForex is part of a galaxy of new crypto exchanges that appeared after the explosive growth of interest in crypto assets in 2017. A trading platform was registered in Singapore, focused on the Asian and Western markets. At the moment the exchange offers 300+ coins, the ability to trade with futures, 9 languages of the interface, etc. The turnover of the exchange is about $661.457.759 according to coinmarketcup at the moment.
Bitlish is a UK registered exchange supporting a solid number of assets (at the time of writing this review, it was 13 cryptos traded against 5 fiat currencies). Bitlish has its LEI obtained from London Stock Exchange and provides its rates and trading statistics data to InterContinental Exchange (a mother company of New-York Stock Exchange and many others).
BitLox is a hardware wallet. This means that you will use it to store your cryptocurrency private keys in a secure offline environment away from the risk posed by hackers. The company has been around since at least 2014 and is based in Hong Kong (BitLox Limited).
BitMart is a cryptocurrency exchange launched in 2017. The exchange is registered in the Cayman Islands. The team working for the exchange has ex-members from Amazon, Alibaba, and other huge companies. However, the team members are not showcased on the BitMart website. The offices of BitMart can be found in New York, Seoul, Hong Kong, and Singapore.
Bitso is the first exchange to enable pesos/BTC trading in Mexico. Although, BTC has a limited book and can’t buy or sell BTC directly. The exchange has a mobile app on Android and IOS , API and the cold storage. Bitso provides a great support for their traders and offers different educational materials for the new investors.
But at same time platform doesn’t have the margin trade and has the variable fees from a maximum of 1% to a minimum of 0.1%. The platform has a good security. Bitso initiates the KYC involving three levels of verification, which determine the limits on a trading account.
The Bleutrade exchange came to existence in March 2014 with a goal to provide customers with a kind of service that would give them a new understanding of what financial freedom is. Unlike many similar platforms, Bleutrade has a thing for innovative solutions and for the use of nascent technologies. Being passionate about altcoins and the impact they have on the cryptocurrency market, the Bleutrade team is open to listing new coins and tokens that appear quite frequently these days.