How to Buy QTUM in Australia

A Beginner’s Guide to Buying and Selling QTUM Cryptocurrency in Australia

5 Min Read
Last Updated July 23rd 2021

If you’re based in Australia and wish to buy QTUM – the process is very straightforward. All you need to do is find a regulated exchange, deposit some funds, and decide how many QTUM tokens you want to buy.

The cryptocurrency arena is a popular investment avenue in the world today. It presents investors with a valuable opportunity to diversify their investment portfolios, minimize their financial risks and make a profit. Despite the risk and volatility of this market, investors and traders that are skilful in their decision making will go a long way as far as financial gain is concerned. There are hundreds of cryptocurrencies in the market today, each with its mode of operation and specificities. QTUM tokens are one of them

Pronounced as Quantum, QTUM runs based on the blockchain technology developed to integrate the smart element characteristic of Ethereum with the stable blockchain features of Bitcoin. QTUM coin also utilizes the ‘proof of stake’ consensus feature as a means to verify ownership.

What’s in This Guide? 

The guide below serves as an instruction manual to help anyone looking to dive into this market. The guide takes you through the process of buying, selling and storing your QTUM tokens. The guide also explains some of the important things you must keep in mind when entering into this investment market. By reading this guide, you will also see some of the frequently asked questions that investors like you have been asking to understand better how this avenue works. 

  1. QUICK GUIDE: HOW TO BUY QTUM IN AUSTRALIA
  2. Where to Buy QTUM in Australia
  3. A Step-by-step Guide to Buying QTUM in Australia
  4. How to Sell QTUM
  5. Which Wallets Can I Use to Hold QTUM?
  6. How QTUM Works
  7. Key Things to Consider When Buying QTUM in Australia
  8. FAQs 

QUICK GUIDE: HOW TO BUY QTUM IN AUSTRALIA

  1. Open an account with a cryptocurrency exchange
  2. Verify your account
  3. Go to the deposit section
  4. Go to the platform and select QTUM
  5. Enter how many QTUM tokens you want to buy
  6. Check the details and confirm your purchase

Where to Buy QTUM in Australia 

Starting with where you can buy QTUM tokens, experts and industry professionals support that the best place to buy QTUM tokens is on exchange accounts. Exchange accounts offer more security, convenience, and, most importantly, an easy way to effectively and efficiently become a toke holder. 

The kind of transactions you intend to perform is an essential consideration in choosing an exchange account. The exchange account you choose must support what transactions you will be performing in that account now and in the days to come. In the case of how to buy QTUM tokens in Australia, the account must be able to support QTUM tokens and the AUD, which is the currency used in Australia. 

Follow the following guide to start buying QTUM tokens in Australia.

A Step-by-step Guide to Buying QTUM in Australia 

There are two different approaches that you can use to buy QTUM tokens in Australia:  fiat currency and using other cryptocurrencies. 

Buying QTUM with other Cryptocurrencies 

The very first determinant is whether you have any other cryptocurrencies in your possession. If you already have other cryptocurrencies, all you have to do is go to the buy section of the account and select the pair that you want to transact. For instance, if you want to buy QTUM tokens using ZRX cryptocurrency, then select the pair that reads ZRX/QTUM. After confirming your purchase order, the QTUM will be credited to your exchange account. 

Buying QTUM with fiat currencies 

For the case of buying QTUM tokens using fiat currency, this entails using AUD for the case of Australia. To buy QTUM tokens using AUD, go to the buy section of the account and select the pair that reads AUD/QTUM. However, before doing this, or for this to be successful, you must have had AUD in your account. 

Follow the following steps.

Step 1: Register an account

The entire journey starts by opening an exchange account. In this step, you will sign up by providing important information to personalize that account. This information includes your name, phone number and email address. You will also have to verify your account using a government-issued identity card and a utility bill for proof of address. Lastly, set a strong password and attach a multi-factor authentication so that no one who is not authorized can access your account. 

Step 2: Deposit funds to the account 

Depositing funds in the account is very simple. All you have to do is make a direct deposit from your bank to the exchange account, link your credit or debit card to the exchange account, and deposit the funds. 

Step 3: Buy QTUM 

Now that you have funded your account, you are ready to start buying the QTUM tokens. To buy, go to the buy section of the account and enter the amount of GBP you wish to use in buying the QTUM tokens. After that, confirm your intention to move forward with the transaction. The QTUM tokens will then be deposited into the exchange account. Note that you can either buy the QTUM tokens using fiat currency or using other cryptocurrencies as described above. 

How to Sell QTUM 

Selling the QTUM account is also very easy. You can either sell the QTUM tokens for GBP or other cryptocurrencies. At the end of the sale, the GBP can be withdrawn straight from the exchange account and into the bank account you had linked to this exchange. 

Go to the sell section of the account and enter the amount of QTUM tokens you wish to sell. Next, confirm your intention to continue, and the transaction will be initiated. You will receive a notification at your email address. 

Which Wallets Can I Use to Hold QTUM?

Two types of wallets serve to store QTUM tokens and every other token, for that matter. Hot wallets work by storing tokens online, while cold wallets store tokens offline. The former is popular among active investors and traders because it enables them to withdraw their stored or held cryptocurrencies upon need actively. 

How QTUM Works 

QTUM works in the absence of any third parties because it is decentralized (DeFi). A seller and their buyer can very easily engage in a transaction involving QTUM tokens without the involvement of a broker. 

Key Things to Consider When Buying QTUM in Australia 

Some of the crucial considerations include:

Performance

Suppose a coin has been performing well over the past few months. In that case, you can use this information to predict how it may be performing in the coming months using trend analysis

Application

A coin that can be applied for several purposes is more promising than one with only one use. 

Acceptance

A coin accepted by the market will be highly available compared to one that is not accepted. 

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FAQs 

Where can I buy QTUM in Australia 

As mentioned in this guide, you can buy QTUM from a crypto exchange in Australia that supports the token.

What do I need to open an exchange account?

The details that the exchange will need include your name, email address and phone number. In addition, some exchanges will require you to go through a KYC verification process to authenticate your details. 

Is QTUM volatile? 

All cryptocurrencies are volatile, including QTUM, which calls for caution when investing in this market. 

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