How to Buy Quant (QNT)

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Contributor, Benzinga
September 12, 2024

Wondering how to buy Quant? You can buy QNT with fiat on Coinbase or Uphold.

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Quant

$101.53*

*prices delayed up to 10 minutes

+5.00%

24H
Buy Quant
5 votes

Large corporations, banks and governments are utilizing distributed ledger technologies (DLTs) to enhance their cloud-based services. Hyperledger Fabric and Ethereum are among the most popular options, but the market is still fractured between more than 10 major DLT providers.

Before the introduction of Quant Network’s Overledger, there were challenges in enabling applications to interact with multiple DLTs. The Quant token's value surged to eight times its initial worth in early 2021 but fell during the 2022 cryptocurrency market crash. Despite not reaching previous highs, it remained a trading price between $60 and $100 in 2024.

With so many cryptocurrencies on the market, it can be hard to know what's legit and what's a cash grab. Learn more about what Quant is and how you can start investing today.

How to Buy Quant (QNT)

Ready to get started investing in Quant? Here’s a step by step guide on how to buy Quant today!

1. Create an Online Account

Quant is supported by several cryptocurrency trading platforms, including Coinbase and Uphold. Visit the website or download the mobile app of your chosen exchange. Navigate to the Sign Up or Register option. You'll need to provide an email address and password for account creation. In the United States, regulations force cryptocurrency exchanges to verify user identities before they can trade. This usually entails providing your address, Social Security number and a picture of your driver’s license (or other valid ID). Once you set up your exchange account and enter in the required verification information, you will be ready to start trading crypto.

2. Fund Your Account

Now that your account is ready for trading, you’ll need to deposit fiat currency or another supported cryptocurrency to fund your account. Many platforms accept various payment methods. These include credit and debit cards, wire transfers, and cryptocurrency deposits from external exchanges and crypto wallets.

Choose your preferred payment method and follow the platform's instructions. Enter the amount you wish to deposit and review any applicable transaction fees before confirming the transaction.

3. Purchase Quant (QNT)

Now that your account is funded, you are ready to place a buy order. Navigate to the trade section of your chosen platform and search for Quant or QNT. Click the option to buy and enter your desired amount. Review the details before executing the order. Once confirmed, your QNT will be credited to your portfolio and you will receive a confirmation email.

If you deposit a different crypto, you will have to sell it for U.S. dollars (USD) before you can purchase Quant. Once you have your USD ready in your exchange account, look for the QNT/USD pair and make your purchase. 

What is Quant?

Quant is the payment and validator token of the Overledger operating system, Quant Network’s flagship product. It is an ERC-20 token on the Ethereum blockchain that is used to pay for Quant’s services and validate, sign and encrypt transactions sent on Overledger. Quant Network’s ultimate goal is to provide seamless interoperability to the fractured world of distributed ledger technologies.

DLTs are databases spread among multiple physical locations and network participants. They remove the need for a central intermediary to process and validate transactions on it. It's important to understand that DLTs and blockchains are not the same. In fact, blockchains are just a subset of distributed ledgers. Blockchain networks like Bitcoin or Ethereum are decentralized ledgers in which each new transaction is verified via cryptographic signatures (known as hash functions) that build off of previous transactions. 

Quant Network’s Overledger aims to be both regulator and developer-friendly. The company already works with multiple government agencies to improve their cloud frameworks including the Crown Commercial Service (CCS) of the United Kingdom. Developers can build simple applications on Overledger that can interact with multiple DLTs and other applications on the same DLT. They must pay for Quant Network’s platform and annual license fees with the Quant token, possibly driving its price up whenever more applications are built on Overledger.

Brief History of Quant

Quant Network Ltd was founded by Gilbert Verdian in 2015, years before its flagship product Overledger and the Quant token were launched. Verdian saw an enormous problem that needed solving when he was working at Her Majesty’s Treasury and later in the Department of Health in Australia. He saw how impactful DLTs would be in the future and sought to fix the largest issues in modern global information exchange. He also understood that no one DLT would take over the market, and thus improvements in interoperability would be vital. So far he has been right, and Quant Network has performed incredibly well this year. 

The 1.5 update to the Overledger OS in January 2021 opened Bitcoin, Ethereum and Ripple ledgers to its applications. Quant’s price almost immediately exploded to over $40 from about $11 earlier that month. The price continued to rise after further updates this June giving apps even more functionality. It skyrocketed to above $400 at its all-time high in September. At the time of writing, the token is hovering around $75. It has a market capitalization of around $915, ranking QNT as the 69th largest crypto in terms of market cap. The company plans on releasing further updates to add access to more DLTs and to further expand app functionality and ease of use.

Where to Buy Quant (QNT)

Check out some of the best crypto exchanges that support Quant token below. Coinbase is a great option for new investors, and they have a Coinbase Learn program that will deposit free crypto to your account for learning about the technology.

How to Store Quant (QNT) Safely

There are two options for storing QNT: hardware wallets, which are physical devices that keep cryptocurrency private keys offline, and software wallets, which are digital applications that store private keys online or on devices like smartphones or computers.

  • Best hardware wallet: Ledger

Ledger is a leading cryptocurrency wallet brand. The Nano S is Ledger’s basic model with all the security and simplicity a hardware wallet needs. The Nano X model adds Bluetooth functionality and a larger screen for about twice the price of the basic model. Both Ledgers support most major cryptos including Bitcoin, Ripple, Ethereum and all ERC-20 tokens (including Quant). 

  • Best software wallet: Coinbase Wallet

Coinbase Wallet is a secure software wallet available as a browser extension and mobile app. It features crypto trading, storage for non-fungible tokens (NFTs), and access to decentralized finance (DeFi) applications, while supporting major cryptocurrencies like BTC, ETH and LTC.

Trade, Sell or Convert Your Quant

Altcoins like Quant can be extremely volatile and you should know how to sell or convert your tokens. It’s incredibly easy to close your Quant position. You can either sell your Quant on the exchange you purchased it from or you can use a decentralized exchange (DEX) to swap it for another token. If you want to sell it for USD just send it back to your exchange account, find the QNT/USD pair and sell. You could also go to Uniswap, a (DEX) on Ethereum, and use a software wallet to swap it for another cryptocurrency. 

Current Crypto Prices

The cryptocurrency market is highly volatile. Daily price fluctuations are typical, especially with smaller cryptocurrencies. Real-time data is essential for investors in a dynamic market. Here's a quick look at how some of the top coins are performing today.

Is Quant a Good Investment?

Quant has been a fantastic investment for anyone that bought and held before Overledger 1.5 was released. However, those who purchased the token at its peak may be down more than 80% on their investment. This is the reality for altcoins in general, not just Quant. They are volatile and risky investments that may see massive returns or destructive losses.

Frequently Asked Questions

Q

Is Quant a good cryptocurrency to diversify your portfolio?

A

Quant can be a good cryptocurrency to diversify your portfolio, but you must match the token to your financial goals before moving forward.

Q

Can I buy Quant on Coinbase?

A

Yes, Quant (QNT) can be purchased on Coinbase. The platform is awell-known exchange in the cryptocurrency market that supports a variety of cryptocurrencies.

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Henry Stater

About Henry Stater

Henry is an expert in all things crypto. He stays up to date with all the latest coins, platforms and technologies in the field. He has particular expertise in the burgeoning decentralized finance ecosystem and loves trying out all the new platforms. He also always follows major events in other financial markets and geopolitics as a whole, especially when an event’s effects ripple through the crypto market.