Finder is committed to editorial independence. While we receive compensation when you click links to partners, they do not influence our content.
How to buy QASH
A beginner’s guide to buying and trading QASH in Canada.
QUOINE’s Liquid platform is designed to provide liquidity to the cryptocurrency exchange market. This globally-sourced trading platform provides a multi-market order book that combines every liquidity source in the world and is designed to tackle the liquidity issues associated with exchanging fiat currencies for cryptocurrencies.
QASH is the native token of the Liquid platform and is the fuel that powers all services that take place on the platform. Let’s take a closer look at the function of this token and how you can buy QASH in Canada.
Where can I buy QASH?
You can buy and sell QASH on several popular cryptocurrency exchanges, including:
How to buy QASH: Step-by-step instructions
If you want to buy QASH tokens, here’s one example of how you can do it:
Step 1. Create an account with QUOINEX
The first thing you’ll need to do is register for an account with the QUOINEX crypto exchange, which allows you to exchange US dollars (USD) for QASH. Your default currency will be set to USD once you enter your location as Canada. You’ll need to provide your name, contact details and proof of ID to satisfy Know Your Customer (KYC) requirements.
It’s also a good idea to set up two-factor authentication on your account before you deposit any funds.
Step 2. Deposit funds into your account
From the main menu, click “Home” and then “Deposits and Withdrawals”. The next step is to enter the amount of USD you want to transfer and click “Submit Funding Request”.
Please note that most cryptocurrency exchanges don’t allow you to exchange CAD for QASH directly, so you’ll usually need to buy or own a cryptocurrency that’s offered in a currency pairing with QASH, such as bitcoin (BTC) or Ethereum (ETH), before you can acquire any QASH.
Step 3. Buy QASH
You can now exchange your USD (or BTC) for QASH. From the Main Menu, go to your Trading Dashboard and look for the Order Entry panel at the top left of the screen. Choose a limit or market order and specify the amount of QASH you want to buy. Review the full details of the transaction and, if you’re happy to proceed, click “Buy” to place the order.
How to sell QASH
If you decide it’s time to sell your QASH tokens, the steps you’ll need to take to do so are very similar to the buying process outlined in step 3 above. However, remember that your exchange won’t offer every possible cryptocurrency pairing, so you may not be able to directly exchange QASH for the currency you want.
Which wallets can I use to hold QASH?
For security purposes, you should never store your cryptocurrency on an exchange for any length of time. Instead, it’s recommended that you keep your coins in a safe and secure wallet. As QASH is an ERC20 token on the Ethereum blockchain, you’ll need to use an Ethereum-compatible wallet, such as:
How QASH works
QUOINE, the fintech company behind the Liquid platform and the QASH cryptocurrency, was founded in 2014 by Mike Kayamori and Mario Gomez-Lozada. The company has offices in Singapore, Japan and Vietnam and also runs crypto-fiat exchange QUOINEX and crypto-only exchange QRYPTOS.
QUOINE’s Liquid platform is designed to overcome the liquidity problems that face the crypto economy. To do this, the platform offers two important features:
- The World Book. This globally sourced trading platform aims to connect crypto exchanges around the world to create a liquidity pool.
- Prime Brokerage. This associated suite of services provides direct market access, fiat management, crypto/fiat lending facilities and real-time reporting.
QASH is the universal native token of the Liquid platform. Not only is it used to power all services on the Liquid platform, it will also be used on QUOINE’s existing platforms (QUOINEX and QRYPTOS).
QASH and the Liquid platform project began in Q2 2017, and its ICO token sale was held in November 2017. The sale had almost 5,000 participants from 98 countries, raising US$105 million.
What to consider before you buy QASH
Before acquiring any cryptocurrency, it’s essential to thoroughly research your purchase and be fully aware of any risks involved. Cryptocurrencies are complex and speculative, so make sure you consider a wide range of factors before you buy.
If you’re thinking of buying QASH, take the following into account:
- Supply. According to CoinMarketCap, at the time of writing on 29 January 2018, the circulating supply of QASH was 350,000,000, out of a total supply of 1,000,000,000 QASH.
- Use. QASH will initially be used to pay fees, act as credit collateral and participate in trading strategies on the Liquid platform. It is also a base currency for trading at QUOINEX and QRYPTOS and can be used to pay transaction fees on those platforms.
- Demand. The value of QASH will be influenced by the demand for the Liquid platform and QUOINE’s other platforms. If demand for the Liquid platform and the services it provides grows or diminishes, the value of QASH may witness a corresponding movement.
- Discounts. QRYPTOS and QUOINEX customers who pay for services on either platform using QASH automatically receive a 5% discount. The aim of this discount is to create a natural demand for QASH.
- Own blockchain. While QASH is currently an ERC20 token on the Ethereum blockchain, it will eventually run on its own blockchain.
- Future developments. For more details on upcoming tech developments and announcements, check out the project roadmap on the Liquid platform website. The official Liquid launch is scheduled for Q2 2018, while the QASH blockchain is slated for launch in Q2 2019.
- Partnerships. It’s also a good idea to keep track of announcements concerning commercial partnerships between QUOINE and other cryptocurrency and fintech providers. For example, it already has partnerships in place with digital currency DASH and crypto exchanges Bitfinex and Binance.
More guides on Finder
How to buy Ant Group stock in Canada
Canadian investors may need to get creative to back this highly anticipated Chinese IPO.
Review: CoinSmart cryptocurrency exchange
Learn more about the CoinSmart cryptocurrency exchange by reading the full review.
Starting Your Own Business: A Step-By-Step Guide
From making a business plan to getting funding and insurance coverage – we’ll walk you through what you need to know about starting your own business.
Setting up a dog-walking business
This guide presents everything you need to know about starting a dog-walking business in Canada.
Setting up a gardening business
This step-by-step guide reveals what you need to know about launching a gardening business.
Can you open an IG Markets account in Canada?
You can’t open an IG Markets account if you live in Canada – but that doesn’t mean you’re not out of options.
How to find the best stock trading platform for online investing
Research and compare the best stock trading platforms to find the right one for your financial needs.
How to invest in fractional shares
Fractional shares are a low-cost way to invest in company stocks. Find out what fractional shares are and how to buy some.
Passive income investments for Canadian investors
Find out about passive income investment ideas that can help you make money even while you sleep.
How do international money orders work?
Here’s what you need to know about international money orders and see if there is a better option for sending money overseas.
Ask an Expert
You must be logged in to post a comment.