What is Qtum cryptocurrency?
The Qtum cryptocurrency is a platform token created for the business sector and combines the capabilities of the Bitcoin blockchain and the Ethereum virtual machine.
It is a platform that facilitates the process of writing smart contracts based on block technology. it can be described as a robust, powerful modular toolkit.
Registered currency in Singapore, it is one of the most economically free countries. Therefore, fluctuations in the rate on the news in this case will not be catastrophic. The development team is mostly from China, with some contributors from Europe.
Here are some important facts that investors should know about the creators of the project:
- The organization is not commercial, the goals are set quite high.
- Chief developer - Patrick Dai, world famous cryptocurrency specialist.
- The team consists of 17 professionals, each of whom has vast experience.
- The company was created with a board of directors and responsible persons, which is good news.
The Qtum Blockchain Foundation claims that they are working to improve blockchain technology, not to make a profit. The development group has investors, although they still receive a certain income from market manipulations.
It is worth noting that Qtum is developing very quickly. This project has already managed to outpace the progress made by the world of digital currencies.
The developers claim that today they are working to eliminate unpleasant errors in the operation of the largest currencies in the cryptographic world. For example, Ethereum is limited in that it does not allow the course of the contract chain to be changed after the process starts. Qtum solved this problem by creating two types of contracts - off-chain and on-chain. That is, the coin holder can change the course of the process even after starting.
Here are some more facts about currency from a technical point of view:
- many innovations have been introduced to solve the technical problems of using blockchain;
- developers continue to refine the tool and make it more convenient;
- today Qtum has become one of the most convenient currency options on the market for real settlements;
- the currency has an atypical nature, therefore, with small capitalization, it is included in the top 20;
- the tool solves a number of economic problems that many large enterprises are currently experiencing.
How to buy Qtum in Malaysia?
Given the top position of the instrument in the ratings, you can buy Qtum in Malaysia on many exchanges such as Binance, BitHamb, Okex and other platforms. The purchase is possible for both cryptocurrency and dollars. To purchase, you will need to open a cryptocurrency wallet on the exchange of your choice. Cryptocurrency wallet - be sure to study before opening what they are and which one is right for you. For example, it is recommended to keep the bulk of assets in a cold wallet, and use a hot one for transactions. Next, you will need to choose the right moment to buy and sell currency. In order to correctly calculate when to buy and when to sell, one must be very careful, be able to work with special exchange instruments. Start with a small investment to get started.
If you are not a very experienced exchange player, but want to make money, there is a convenient alternative for you. This is the use of Contracts for Difference - CFDs.
The CFD is the most profitable instrument on the exchanges, which allows you to make quick money with a minimum of free money and does not burden the participants with property rights.
The overwhelming majority of exchange transactions are carried out using the CFD scheme.
The essence of CFD trading boils down to the fact that a trader and a broker enter into a kind of bet between themselves, according to which one of the parties will pay the other party the difference between the opening price of the transaction and the closing price of the transaction.
At the same time, the time of closing the contract and CFD calculation is not set in advance (unlike binary options, where there is a fixed expiration). The trader can decide at what point the trade will be considered closed and, accordingly, what profit or what loss he will receive.
The process of opening a CFD transaction takes place in four stages:
- The trader needs to choose when the trade is considered open. There are two options here: either the deal will be opened immediately (at the current quote), or the deal will be postponed until the moment when the chart reaches a predetermined price (pending order);
- Then the trader needs to choose the size of the investment (or the number of lots). That is, the amount that he is willing to invest in this transaction;
- Then you can place protective stop loss and take profit orders. That is, choose when reaching what profit (or receiving what loss) the transaction will be automatically closed;
- And the last thing you can choose is the size of the leverage (leverage allows you to proportionally multiply the potential income and risks from the transaction).
You can close a deal either manually (at any time), or you can wait until one of the protective orders is triggered. Take profit - if the specified profit is reached, or stop loss - if the specified loss is received.
How to invest in Qtum in Malaysia?
If you invest through an online trading platform, the investment amount can range from $ 1 to several thousand. There shouldn't be any problems with this. Profit multiplication - several options are available: x3, x4, x5.
This is a function that allows you to increase your potential profit quite well. So it is advisable to leave everything as it is. Closing - here it is worth setting the threshold for closing a deal in profit and a threshold for closing a deal in a loss.
With a correct forecast, the closing threshold should be set only if you have determined the price level, after which a rollback will begin in the opposite direction - thus, you will be able to take the maximum profit with the correct forecast. The "Buy" or "Sell" buttons are responsible for instantly opening deals. It is important to understand that the open price on the instrument does not coincide with the current price - there is a buy price and a sell price. The purchase price will be slightly higher than the current price, the sale price will be slightly lower than the current price. Open deal settings can also be edited:
- Here you can close an open deal at any time and change the auto-close parameters of the deal.
Why is it profitable to invest in Qtum?
Why is cryptocurrency better than dollars or euros? Let's figure it out.
Cryptocurrency is an electronic means of payment. It is a program code and has no physical counterpart in real life.
Cryptocurrency is not backed by anything, like fiat (regular) money, but in general it differs significantly from them:
- Emission. Traditional banknotes are issued by the central banks of states. At the same time, the output is not limited, which, over time, inevitably leads to inflation. Cryptocurrency (most types) has a limited emission, so it does not depreciate, but, on the contrary, grows in value over time. And it is issued not by a single center, but by everyone.
- Release form. Fiat can be presented in metal, paper, plastic, electronic form. Cryptocurrencies only exist on the Internet. This is not a big loss, considering that today almost all payments can be made online and more and more services and stores are connecting the possibility of cryptocurrency payments.
- Control. Fiat is completely controlled by government authorities. Its release and distribution is regulated by law, an ordinary person cannot influence this process. And digital blockchain systems are usually community-driven; all changes are made to it only after the voting of the network participants. There is no definite center in whose hands the system is located.
- Commissions and speed. The costs of transferring funds, even abroad, are much less than bank charges. Plus, payments are faster.
- Anonymity. The factor that especially worries the state and at the same time attracts users to cryptocurrencies. It is impossible to determine the belonging of any transaction or wallet to a specific person.
Thanks to these and many other advantages, cryptocurrency is actively displacing ordinary money from the market. This makes it so attractive to traders. And also, cryptocurrencies have very high volatility, that is, the price often changes. This is not always good for buying for a long-term investment, but it is great for making quick money on CFD contracts.
So, start, do not be afraid, you will succeed. Good luck!