Quick summary: Our recommendation is to use eToro to short Quant. They have the most popular cryptocurrencies on offer, great support, and have an easy system for shorting cryptocurrencies in general.
While there are a lot of options out there for buying QNT, shorting is a different story. Luckily for us here in Australia, we do have a few crypto brokers and exchanges that allow for CFDs and shorting.
One of those brokers is eToro, which we’ll be using for this guide. Let’s get started!
How to Short Quant in Australia
A quick recap first on what shorting actually is: The main objective of shorting or short selling is to make a profit (of course). The idea is to sell a stock/cryptocurrency hoping it will drop in value so you can buy it back later for cheaper, thus creating a net profit.
Shorting Quant can be done in 4 easy steps:
1. Choose a crypto exchange
As mentioned before, for this guide we’ll be using eToro as they offer the ability to short the most common cryptocurrencies.
You can, of course, use any other crypto broker to follow along, they all work very similarly.
2. Create an account on the crypto exchange
Let’s start with just signing up with eToro.
The sign-up process is very quick and easy, as is the verification that needs to be completed afterwards so you can get started.
3. Funding your account
Next is funding your account. You have several options when it comes to depositing AUD into your eToro Account. These include a bank transfer, credit card, debit card, PayPal, and more.
4. Short Quant
Now for the actual shorting:
- Starting off at the search bar at the top, find Quant by entering the name or symbol.
- Then on the crypto page/section, on the right side, hit the TRADE button to enter the trading interface.
- At the top of the trading interface: Click on sell to short sell the stock.
- Enter the amount for which you want to sell Quant and click on “Open Trade”.
Once you’re ready to close the trade, hopefully when the value of Quant has dropped, go to your Portfolio, find the Quant trade, and click on the red cross to close the trade.
If your assumption/prediction was right, then the profit will be added to your account after closing the trade. If you were wrong on the other hand, you’ll incur a loss which will be debited from your eToro account.
Congratulations, now you know how to short Quant!
Disclaimer: Trading, investing, and dealing with digital and cryptocurrencies might involve a lot of risks. Their prices are volatile and performance is unpredictable. Their past performance is no guarantee of future performance.
Affiliate Disclosure: This site is supported by its users. We may receive commissions for purchases made through the links on our site. This does not impact our reviews, guides or comparisons.
Where to Short Quant (QNT)
Aside from eToro, the other major exchange you can use is Binance.
While Binance tends to be a bit more complex compared to eToro, they do have more cryptocurrencies on offer.
Frequently Asked Questions
Can I short Quant on Binance?
Yes, you can short Quant on Binance. They have over 300 cryptocurrencies on offer and specialise in the crypto market. They also have a great app and competitive fees.
Quant was founded in June 2018. It aims to connect blockchains and networks worldwide, while maintaining interoperability and efficiency. It is the first project that solves the interoperability issue through the creation the first blockchain operating systems.
It is designed to be an operating system that uses distributed ledger technology -- and Overledger Network -- to connect different blockchain networks. It is the first OS designed for blockchains.
Quant, which uses Overledger, aims to bridge the gaps between different blockchains. Quant calls the Overledger Network the backbone of the project, and Quant refers to it as the ecosystem that will build the future digital economic ecosystem.
Overledger allows developers and customers to build multi-chain, decentralized applications (known collectively as MApps). Developers must have enough Quant tokens to enable them to build Mapps on the network.
Blockchain and the distributed ledger tech have been used by innovators in every industry. There has been some difficulty in seamless interoperability of these projects. Quant was created to provide a missing link between different blockchains.
Quant's operating system Overledger was built to be a gateway to any blockchain-based projects to all other Blockchains. It can also connect an application with other applications in the same ecosystem of blockchains, such as Ethereum.
Quant allows apps to interact at various levels, and more than multiple blockchain interactions. Quant provides different layers for messaging and ordering, transactions, filtering, filtering, and ordering. Quant also offers an application to share and refer to identical messages with other applications.
Quant App Store allows you to monitor and read transactions across multiple ledgers. Overledger allows developers to create smart contracts on a variety of chains, even those that don’t have them. Developers have the ability to use the store for multi-chain applications (MApps) creation and release.