The project is looking to compete against the likes of Neo, Lisk and Ethereum to become a platform for other projects to run on a blockchain network. The Qtum Foundation, which consists of several experienced blockchain developers, is a Singapore based entity that promotes adoption of the Qtum Blockchain.
The project is boldly touted as an “elegant new paradigm” combining the stability of the Bitcoin Core protocol with an enhanced version of the EVM called the Qtum Virtual Machine (QVM).
Critics have expressed concerns saying that it is just another fork of Bitcoin, but Qtum is much more than that. It uses Proof of Stake algorithm as opposed to Proof of Work, which means it is environment-friendly and does not require miners to compete against each other.
Qtum also allows Ethereum applications to be ported to its blockchain. This is a huge advantage and puts the project ahead of its competitors like NEO where developers would have to start from scratch.
How to buy Qtum?
The Qtum project is backed by some of the most prominent investors in the industry. The network put together $1 million last year to kickstart the project in Singapore. Close to 17 projects are already in the works, and out of which 4 are good to go as soon as the mainnet is released.
Step 1: Get a Qtum wallet
It is important to note that Exodus wallet only supports the current ERC20 version of the Qtum token. It does not support the native tokens after the swap.
Qtum wallet can be downloaded from their official website.
On Oct 4th, the Qtum team released the Qtum Ignition Token and all the Qtum ERC20 token holders will need to swap to the new Qtum mainnet tokens if they want to retain their tokens’ value and functionality.
For those who were not aware, or forgot to move their tokens to an exchange, Changelly.com has a swap solution in place and it will run for 3 months.
Step 2: Buy Qtum from an exchange
At the time of writing Qtum is trading at $11.42 a piece, posting a market cap of $673 million. Just like any other major cryptocurrency, Qtum can be bought using fiat or Bitcoin.
How to buy Qtum using fiat in any country
Currencies are different in different countries, so are the exchanges that support those currencies. Every exchange that uses fiat in exchange of cryptocurrencies, has to go through a simple KYC process whereby users must submit government issued id(s) and other personal information in order begin trading on the platform.
The process usually takes 3-4 working days depending on the exchange. Once the KYC is done, you’re free to purchase Qtum, which are automatically stored in exchange’s online wallet.
Buy Qtum in the United States (USD)
Bitfinex is the only exchange that supports QTM/USD pair.
Buy Qtum in Korea (KRW)
Korea is the largest market for Qtum in terms of volumes. Coinone is the only South Korean exchange that supports QTUM/KRW pair for trading.
2. Buy Qtum using Bitcoin
Using Bitcoin investors can buy any cryptocurrency. Exchanges that support QTM/BTC pair are:
Step 3: Withdraw Qtum to your wallet
Once you’ve purchased Qtum tokens from any of the methods mentioned above, make sure to transfer them to your personal wallet. If you held QTM prior to the swap, understand how you can safely transfer the tokens into a wallet. More instructions here.