Bitcoin and Ethereum are the leaders in the cryptocurrency world. Their combined value is hundreds of billions of dollars. But what if you could take positive things from both of those projects and put them together? Qtum is often called as a “hybrid of Bitcoin and Ethereum”.
Yes, you heard right. Qtum is often called with that name especially by those who believe in this project. In my Qtum review, we are going to discuss things like, “What is Qtum? Is Qtum a good investment? Does Qtum have a future?” Read this article all the way through and share your thoughts below.
Is Qtum Legit? – Video Review
Here you have an opportunity to have a look at my Quantum video review also. After you’ve watched the video, I advise you go through the article because there I explain more details than in the video.
Name: Qtum (XVG)
Short Review: Qtum’s goal is to provide a platform that doesn’t only provide a transaction of value but gives also an opportunity for companies to use blockchain technology in their businesses. Qtum has a strong team behind the project. They have a strong experience in programming, developing and also marketing. I believe the project has a great potential but at the moment it’s still in its infancy.
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What Is Qtum?
Qtum (read: Quantum) is a platform that was launched in the Spring of 2017 and it allows developers to build smart contracts and applications on the blockchain technology. Their main team of developers has a large experience of Bitcoin and Ethereum which is a good ground for this project.
Do you remember the cryptocurrency called NEO? It’s often called as “Ethereum of China” because the core developer team are Chinese. Some people also call it “Ethereum killer”. Qtum developers are also from China and it’s sometimes compared to NEO coin. It’s interesting that lots of these cryptocurrency projects are coming from Asia from countries like China and Singapore.
Qtum Explained in a Nutshell + Benefits of Qtum
Most cryptocurrencies enable you to send money (or value) to another person. Their goal is to enable direct transactions easily, effectively and without third parties. Bitcoin was the first one that had this idea back in 2009 and after that many other cryptocurrencies are just trying to make it better. More cost-effective, faster, etc.
Qtum wants to provide even a more powerful platform. Its goal isn’t only to enable you to transfer money but it also allows you and businesses to build applications that benefit from the blockchain technology. That’s a big goal and if they succeed, the value of this project will be huge.
Everyone doesn’t accept that the Bitcoin or Ethereum will the biggest things after 5 or 10 years. But almost all people who know about cryptocurrencies agree that the blockchain technology will change businesses in many ways.
If Qtum succeeds in their goal, it has a potential to become one of the biggest cryptocurrencies in the world.
Qtum Team – Strong Knowledge and Background
In my opinion, Qtum has done a great job when marketing their team. They explain that Qtum team members have experience from huge and successful companies like Alibaba, Baidu, NASDAQ and so on. In addition, their team members don’t only have experience of traditional companies but also about Bitcoin and Ethereum. And that’s not all!
Behind the project they have billionaire angel investors, executives from some of China’s largest technology companies and traditional Venture Capitalists. You can have a look at their full team on their official website but in the picture below you’ll see 3 of their main leaders:
Qtum team has combined tens (if not hundreds) of years of experience of programming and developing interesting projects. That’s pretty convincing, huh? The rumor says that 17 companies have partnered up with Qtum. I couldn’t confirm the information but based on my searches online I have found that some big companies are already collaborating with Qtum.
They also have a long list of backers including Roger Ver (one of the main guys in Bitcoin Cash), Anthony Di Iorio (one of the main leaders in Ethereum), Jeremy Gardner (Cofounder of Augur) and so on.
The Leader’s Background – Is Patrick Dai a Scammer?
Patrick Dai (before known as Steven Dai) has been involved with a controversial project called Bitbay in the past. Some people called it a Bitbay scandal and it didn’t leave a good reputation for Dai’s name. Probably that’s why he now goes under the name Patrick Dai instead of Steven Dai.
In the online world, I have seen a phenomenon “Once a scammer, always a scammer” for numerous times. I’ve seen some scam artists creating new scam products over and over again. Still, I want to believe in second chances. We need to keep in mind that Patrick Dai isn’t alone in this project. There’s a big team, lots of investors and many backers.
That being said, I recommend that you remember Dai’s background when you are making your investment decisions regarding Qtum. It’s not a good thing that he has been involved with a shady project in the past.
Qtum Price – 7 Times Higher in 9 Days
In the picture below you can see how the price of Qtum started changing at the end of 2017. The chart starts from June 2017 and ends at the end of December 2017.
10th of December the price of one Qtum coin was around $10. The market cap was less than $1 billion. Then after 9 days, the market cap had risen to over $5 billion and the price of one coin became more than $70. If you invested $10,000 in 10th of December, you were $60,000 richer just 9 days later. That’s crazy!
Maybe it’s not so clear on the chart but the price grew also pretty dramatically before that. The market cap of Qtum was still less than $200 million in July but in December it has risen to $1 billion. And jumped to over $5 billion in less than 2 weeks.
Naturally, the price is now going down after that jump. Prices must make a correction but I believe it will start going up at some point.
Most likely we are not going to see similar jumps in the price of Verge in just 9 days but in the long term, it can grow a lot. For example, the market cap of Bitcoin is at the moment around 100 times higher than on Qtum.
Where to Buy Qtum? – Available on Several Big Crypto Exchanges
Qtum is mostly traded on crypto exchanges that are highly popular in China and in other parts of Asia. Biggest exchanges are Bithumb, EXX, and Coinone. I think that those exchanges are not very popular among western traders who are living in the U.S. or in Europe. Therefore, you can also trade Qtum on Binance and Bittrex.
My recommendation is that you don’t put all of your money in young projects like Qtum unless you have studied in a great detail and you are fully convinced it will work. It’s almost always better to allocate your money to several projects that seem worthy because if one of them fails, you have still 2 projects that are probably doing well.
Notice that all thoughts that I’m sharing are my personal opinions and not official investment advice. Still, I know much more about investing about an average Joe. I would always love to hear and discuss your opinions about each cryptocurrency that I review. You can leave comments below this article to join the discussion.
Conclusion – Is Qtum a Good Investment?
With the current team of Qtum, we can expect something big to happen. They have a huge knowledge of programming, technological stuff and blockchain technology. Qtum has been able to partner up with big investors, companies and many big names in the crypto world are backing this project.
I need to admit that Qtum team doesn’t only know how to do programming but also how to market their system effectively. That’s, of course, a positive thing for the value of Qtum. With their marketing skills, they are able to partner up with significant companies, get more people involved in the project and become larger.
But as we have talked regarding many other crypto projects, again we need to admit that Qtum is still in its infancy. Older projects like Bitcoin have much more real-life applications already. NEO is also further than Qtum because it was launched around one year earlier. That being said, I believe that the Qtum price has a room for growth when they continue developing their project further.
It will be highly interesting to see where Qtum will be in 3, 5 or 10 years. Based on my SHORT research I believe that Qtum will be around still after 5 years and if they have succeeded, the value can be great. But keep in mind that I may be wrong with this prediction.
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What do you think about Qtum?
Is it worth buying or not?
How Much will the value be in the future?