How to Buy QTUM in the UK
A Beginner’s Guide to Buying and Selling QTUM Cryptocurrency in the UK
If you’re based in the UK 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.
Investing in the cryptocurrency market is one of the best ventures today because there is a high-profit potential. Nonetheless, the crypto space also poses a very real threat to your financial assets. Before venturing into this market, you must consult with your financial advisor to know whether you can survive if your investment does not go as planned. It is also crucial that you seek the advice and insight of an investor with enough experience and expertise in the crypto market. This consultation will go a long way in ensuring that you make the right moves in investing in cryptocurrency.
What's in This Guide?
There are many cryptocurrencies in the market today, and QTUM is one of them. Short for Quantum, QTUM runs on a blockchain technology created to mix the smart contract attribute of Ethereum with the firm blockchain qualities characteristic of Bitcoin. Quantum coin also operates on the ‘proof of stake’ consensus mode of operation to verify ownership.
The following is a step by step guide on how you can buy QTUM tokens in the United Kingdom.
- QUICK GUIDE: HOW TO BUY QTUM IN THE UK
- Where to Buy QTUM in The UK
- A Step-by-step Guide to Buying QTUM in the UK
- How to Sell QTUM Tokens
- Which Wallets Can I Use to Hold QTUM Tokens?
- How QTUM Works
- Key Things to Consider When Buying QTUM Tokens
QUICK GUIDE: HOW TO BUY QTUM IN THE UK
- Open an account with a UK cryptocurrency exchange
- Verify your account
- Go to the deposit section
- Go to the platform and select QTUM
- Enter how many QTUM tokens you want to buy
- Check the details and confirm your purchase
Where to Buy QTUM in The UK
Are you searching for how to buy QTUM in the UK? Well there are hundreds of crypto exchanges and brokers in the UK. This can make it hard to know which platform is right for you.
List of the best Exchanges to buy QTUM in the UK:
Looking where to buy QTUM in the UK right now? Below you will find 4 of the best brokers that allow you to buy QTUM in the UK.
- eToro - Best broker to buy QTUM in the UK
- Binance - Best exchange to buy QTUM UK for asset diversity
- Coinbase - Best exchange to buy QTUM for beginners
- OKEx- Best broker to buy QTUM UK for low-cost
A Step-by-step Guide to Buying QTUM in the UK
The following guide serves to help you in your pursuit to buy QTUM tokens in the UK. With this guide, you are positioned to understand how you can buy, sell and store your QTUM tokens. It uses a simple way to explain everything so that beginners and armatures alike can benefit from this material. Follow the following guide to start buying QTUM tokens.
Step 1: Open an exchange account
The registration process comes first and entails providing the requisite information to set up your own private account. Before you commence with the registration process, you must ensure that the exchange account you have chosen can support the kind of transaction you wish to perform. In the case of buying QTUM tokens in the UK, the account must support the QTUM tokens and the GBP currency.
As part of this process, you will have to provide details such as your name, phone number and email address. You will also have to verify your identity and your location using a government-issued identity card and a utility bill, respectively. The verification process is in compliance with the KYC rules governing exchange accounts.
The last step in this process entails setting up a password. The password must be unique and strong enough so that no unauthorized persons can access your account.
Step 2: Deposit funds into the account
Having set up your preferred exchange account, the next step involves funding it with the GBP currency so that you can buy the QTUM tokens. You can fund your exchange account using your credit or debit card or by performing a direct bank transfer by linking your bank account to the exchange account.
Step 3: Buy QTUM tokens
To buy QTUM tokens using fiat currency, you have to use the GBP currency you have deposited into the account. Doing this entails navigating to the buy section of the account, selecting the GBP/QTUM pair, and specifying the amount of GBP you plan to use to buy the QTUM tokens. After that, confirm that you wish to proceed with the transaction. A notification will be sent to your email to confirm that the transaction has already been processed.
To buy QTUM tokens using other cryptocurrencies, simply go to the buy section of the account and select the pair that matches what you have against what you intend to buy. For instance, in the case of Ethereum Classic, select the pair that reads ETC/QTUM, and in the case for Ethereum, select the pair that reads ETH/QTUM.
Step 4: Store in a crypto wallet
Once you have bought your QTUM tokens, you have to find a safe place to store them until you start using them. Cryptocurrencies are either stored in hot wallets or cold wallets. The two wallets are broad categories of the many types of wallets that exist and serve in the cryptocurrency arena. The two wallets serve in different ways, an attribute that makes each one of them a preference for different types of investors. Hot wallets store cryptocurrencies online, while cold wallets store cryptocurrencies offline. The former uses apps to store the tokens online, making the tokens easy to retrieve when there is a need. Cold wallets, on the other hand, store tokens offline using USB drives.
How to Sell QTUM Tokens
Selling QTUM tokens is just as simple as it is to buy them. You can either sell the QTUM cryptocurrencies for GBP or for other cryptocurrencies. To sell, find your way to the sell section of the account and specify the amount of QTUM tokens you wish to buy. Next, confirm your intention to proceed with the transaction, and a notification will confirm the process. After selling, you can withdraw the GBP straight from the exchange account into your bank account.
Supposing you wish to sell QTUM tokens for other cryptocurrencies, simply select the pair matching what you need. For instance, QTUM/ETC or QTUM/ETH for the case described above.
Which Wallets Can I Use to Hold QTUM Tokens?
You can either hold your cryptocurrencies in a hot wallet or a cold wallet. Hot wallets store tokens online, while cold wallets store tokens offline as described above.
How QTUM Works
QTUM tokens are based on DeFi finance, meaning that they operate on a decentralized model. As such, there is no need for a broker to facilitate the transaction. The absence of an intermediary makes the transaction safer, cheaper and faster.
Key Things to Consider When Buying QTUM Tokens
Some of the key things you must consider when buying QTUM tokens include:
By evaluating the history of a coin, you can predict how that coin will be performing in the next few months when all the other factors are held constant.
A coin with more than just a few uses is more valuable than a coin with few uses. Usability is directly proportional to stability.
Make sure you know the level of stability a coin has before buying because this will help you invest in something that will exist for a long time.
The description above is a guide to help you buy, sell or store your cryptocurrencies. Before entering this market, you must consult with your financial advisor and ensure to keep the mentioned considerations in your mind before starting this journey.
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Virtual currencies are highly volatile. Your capital is at risk.