Quick summary: Our recommendation is to use the crypto exchange Swyftx to buy QTUM. They have over 300 cryptocurrencies available, have a fantastic app and great customer support. You also get $20 free BTC once you start trading!
Australia has a decent number of popular and regulated crypto exchanges, so it’s quite easy finding an exchange that has QTUM. While each one comes with its own feature-set and fee structure, most crypto exchanges function very similarly when it comes to buying crypto.
Let’s get into it!
How to Buy QTUM in Australia
There are only 4 main steps involved and it’s pretty straightforward:
1. Choose a crypto exchange
As mentioned above, we have plenty of options when it comes to Australian crypto exchanges. While that’s great, you ideally want to do a bit of research so you can use one that has a decent fee structure and more importantly, has QTUM in its list of cryptocurrencies.
Personally, we really like Swyftx, they have over 300 cryptocurrencies, a very smooth process for buying crypto, and their support team has been fantastic.
And if you sign up through our site, you’ll get 20$ worth of free BTC once you start trading, which is always nice.
So for this guide on buying QTUM, we’ll be using Swyftx as the exchange to go through. Any exchange would work of course, as long as they offer QTUM.
Or, if you’d like to know more about the exchanges we recommend, look at our list of the most trusted crypto exchanges.
2. Sign up with the crypto exchange
Once you’ve decided on which exchange to use, it’s time to sign up.
Swyftx has a very streamlined sign-up process in place. The first step is to fill in the sign-up form.
Next up is to go through their basic verification process, called a KYC, which is required by law here in Australia. This should be very quick and easy.
Once done, it’s time for the next step.
3. Funding your account with AUD
To buy QTUM, you first need to transfer AUD to your Swyftx account using one of the many deposit methods available. From bank transfer to PayID, POLi pay and credit cards, plenty of options to choose from.
4. Buy QTUM
The final step is to go to their asset list, find QTUM, navigate to the buy section, and then trade your AUD for some QTUM. Once you’ve bought QTUM, you can track how much you’ve gained or lost either in the app (they have a great app), or on desktop on the left-hand side under your cryptocurrency list.
Where to Buy QTUM (QTUM)
|5/5||300+ cryptocurrencies||Visit Swyftx|
|4/5||200+ cryptocurrencies||Visit Coinspot|
|3/5||400+ cryptocurrencies||Visit Binance|
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How to Sell QTUM
If you’re thinking about selling QTUM, just follow the steps below.
- Sign in to the crypto trading platform (like Swyftx).
- Click on QTUM in your list of cryptocurrencies, or find your trading account if you’re using an exchange with different accounts.
- FInd the sell section and sell QTUM for AUD, or trade it for another cryptocurrency.
Frequently Asked Questions
Is buying QTUM in Australia legal?
Yes, you can legally buy and trade cryptocurrencies in Australia. We do of course recommend only using crypto exchanges regulated by AUSTRAC.
How to buy QTUM with PayPal?
Unfortunately, most crypto exchanges in Australia don’t support PayPal. The only exchange that you could use is eToro, but their cryptocurrency list is quite limited so you might not find QTUM. Have a look on their site first, you might be lucky.
How to buy QTUM with a credit card or debit card?
Most top exchanges support buying crypto with a credit or debit card. We would recommend Swyftx to buy QTUM with your credit/debit card.
Qtum (pronounced "quantum") is an open-source proof of-stake smart contract platform. It also serves as a value transfer protocol. It combines the best of Ethereum and Bitcoin into one chain. Qtum uses Bitcoinâ€™s UTXO transaction network, but also has smart contract execution (or DApps). Recently, the platform added support for DeFi applications. As of March 2021, there are more than 20 tokens available on the Qtum Blockchain.
The project was officially announced in March 2016. The project held an ICO in March 2017, which raised $15 million USD. Qtum's mainchain was released on September 13, 2017. September 13, 2017 saw the launch of Qtum's main chain.
Qtum is a general-purpose cryptocurrency that aims to address four issues identified by its founders in ETH or BTC blockchain platforms. These include interoperability, governance, rigidity and costliness as well as costliness and costliness of proof-of-work mechanism and the difficulty in connecting smart contracts with real-life apps. This problem is addressed by two technologies that are unique to Qtum: Account Abstraction Layer (AAL) and Decentralized Governance Protocol.
The Account Abstraction Layer combines UTXO (Unspent Transaction Input) account layer (inherited from Bitcoin) with the smart contract layer, which was inspired by Ethereum. It allows users create and host applications on virtual machines like the Ethereum Virtual machine (x86), and the Ethereum Virtual machine (EVM). It supports the i686 instruction sets, as well several programming languages like C++, Python, and C++. It makes it easy for existing apps to be adapted and compiled for Qtum. This allows for turing-complete smart contracts integration.
Smart contracts allow you to change core parameters such as block size and gas fees without the need to fork it. This can save you time and help the network grow. Through voting, the entire ecosystem (developers, miners, and QTUM holders) participates in the governance of blockchain. The blockchain is capable of self-management, upgrades, and iteration.