Qash is the currency that fuels the Quoine Liquid platform. The driving force of Quoine is to address liquidity problems that have plagued many cryptocurrencies. It is likely that you have experienced this lack of liquidity if you have ever bought or sold cryptocurrency.
Or if you have ever bought a pack of baseball cards, you will know that typically those items are not popular and it takes a long time to find someone who would want to buy them from you. So, you are more or less stuck with them. This is the root problem with liquidity. This article will guide you on how to buy QASH coin, even if you live in a country that doesn’t have access to the Liquid platform.
The Matching of Buyers and Sellers
In these early stages of cryptocurrency, the practicality of owning a token is limited and more of the buying and selling is driven by speculation. In order for a transaction to take place, brokers must find a counterparty to the trade. This means finding a seller for a buyer and finding a buyer for a seller. Some financial brokers even trade against you and become the counterparty to your trades.
Quoine recognizes that this lack of liquidity stifles the growth of cryptocurrency and is designed to address it. Each trading pair at an exchange has a level of liquidity determined by the ability to find a buyer or seller for the composite currencies of the pair. This liquidity can vary greatly according to different patterns of buying and selling among each of the different exchanges.
The liquidity of Qash on each exchange is tracked using the World Book. The World Book is composed of three entities that help Quoine deliver enhanced liquidity. These are the Matching Engine (ME), the Cross-Currency Conversion Engine (CCCE) and Smart Order Routing (SOR).
The Matching Engine (ME) can process a huge number of transactions per second (TPS) — several million transactions per second. It natively supports the most common trading pairs but can scale to support additional pairs as needed.
The Cross-Currency Conversion Engine (CCCE) automates conversion between currencies using long chains of conversions to make possible transactions that would otherwise be impossible.
Smart Order Routing (SOR) keeps track of all the major exchanges and routes orders that cannot be fulfilled by the World Book out to external brokers who can.
What is Prime Brokerage?
Prime Brokerage is what Quoine uses to refer to the access they give you to its network of banks and exchanges, without having to create an account on all of these various entities. Prime Brokerage will be a suite of services. Liquid platform’s Prime Brokerage extends your credit based on either cryptocurrency or fiat. The QASH token can also be used as collateral.
What is QASH Coin?
QASH token is an ERC20 token that acts as a form of payment on the Liquid platform. The QASH team created a supply of 1 billion QASH tokens. These tokens were allocated in the following way: 35% were allocated to be offered to participants in the ICO. 30% were allocated to the Quoine community. 20% were allocated to the team and company shareholders. 15% were allocated for strategic partners and institutional buyers.
Allocation of QASH tokens at creation.
The intention for the project is to have their own blockchain in place by Q2 2019 and have all of the QASH tokens moved over to it. The plan also includes rebranding of the token from QASH to Liquid Coin. This new blockchain will be coded to the Liquid distribution ledger (or LDL). The LDL will change to be uncoupled from the Quoine company and administered by a foundation.
The internal World Book Beta was originally tested on Qryptos and Quoinex, which had a limited number of currencies – Bitcoin, Ethereum and Bitcoin Cash paired against fiat currencies have been added with more to come. The planned external World Book all the liquidity in its global network of exchanges into one giant order book. The Liquid Market offers traders who use QASH a 50% discount off their fees so it’s in traders’ best interest to use QASH. Qryptos and Quoinex were predecessors to the Liquid market. Balances from these two markets were moved at the launch of Liquid. Transferring fiat currency is expensive and complicated. Quoine and its Liquid platform appear to be extraordinarily well-positioned to take advantage of this fact.
The Liquid platform allows automated strategies letting users publish them for others to use. Mainstream languages are supported. Robust trading platform tools have been developed for Liquid. And all of these services on the Liquid platform are built for use with QASH token. So, all of these features are advantages that give an automatic boost to QASH token which also serves as a tradeable token for speculation on the open market.
The Liquid platform presently does not accept customers from the U.S. But there are plans to expand into the U.S. With the goal of beginning the onboarding of U.S. customers in January 2020. The position of QASH in a market optimized for liquidity puts QASH in a spot to become the token of choice in the finance industry as more companies come to take advantage of decentralized cryptocurrency platforms. Until that time, the trick of how to buy QASH coin lies in finding an exchange that allows your country to buy QASH tokens.
Quoine’s management team features a vast array of experience in finance and high-tech. Companies like Goldman Sachs, Wells Fargo, Credit Suisse, Barclay’s, Samsung and Mitsubishi feature prominently on the job histories of its executives.
Liquid has built a vast international financial network that includes over 15 cryptocurrency exchanges as well as bank accounts in the U.S., EU, Japan, Taiwan, Singapore, the Philippines and Indonesia. This is an impressive feat considering the resistance that cryptocurrency firms generally face when dealing with traditional financial infrastructure.
QASH has also acquired the license of Japan’s Financial Services Agency (FSA). They were the first cross-balance exchange to be officially licensed. The company also has a Big Four firm as their external auditor and have built a culture of compliance and security.
This culture which manifests itself in the company’s commitment to FATF guidelines even In areas where AML restrictions do not apply. Quoine also takes KYC (Know-Your-Customer) seriously, as seriously as any bank or fiat-handling firm. Quoine takes Bitcoin’s model of being a store of value based on a decentralized blockchain and expands it into a worldwide liquidity network.
But the plans go beyond that. The QASH blockchain will be built to natively support what is called decentralized distributed execution of smart contracts, similar to Ethereum’s feature of the same name. Distributed apps can be developed using commonly used programming languages like C++ and Python. This allows for DApps to be designed with financial services in mind, but also be able to support applications beyond just that. They use QASH of transferring fiat brings to mind Ripple but unlike Ripple, the Liquid blockchain will be a true blockchain.
How to Buy QASH
Since the Liquid market is currently unavailable to U.S. customers, in order to take advantage of QASH, you might be wondering how to buy QASH coin. The answer is that you will need to find an exchange that allows trading by U.S. customers. There are currently no cryptocurrency exchanges that offer QASH that are open to U.S. customers. In other countries, exchanges like Huobi Global, gate.io and Bitfinex offer access to buy QASH.
Now that we’ve figure out how to buy QASH coin, we need to ascertain how to properly and securely store our digital asset. Since QASH tokens are just ERC20 tokens, all the Ledger wallets support QASH tokens. This includes the Ledger Live. This could change when the current QASH token is swapped 1:1 for the new Liquid blockchain token. But the current ERC20 token that operates on the Ethereum blockchain is supported.
The steps for connecting QASH to your Ledger wallet are the same as for any other ERC20 token. Make sure to get the latest version of Ledger Live whether you upgrade through the notification banner or download the latest version. On your device, install the Ethereum app. Open Ledger Live and you will need to authorize the app. Proceed by clicking the Management tab on the left to allow Ledger Live to have access to your device.
After installing the Ethereum app, click the “Add Ethereum” button and select “Ethereum”. Then click on “Continue”. Choose or add the account with the coin you want to add. Once selected, click “Close” and your coins should now show up on your Ledger wallet. Under the “Accounts” page you should now be able to find the tokens you just transferred. You can also send and receive QASH tokens on the Ledger wallet. To send, simply click “Send” on the left pane and specify the destination address. To receive, click “Receive” and give the address shown to others who are sending you coin.
The Liquid platform offers a competitive structure with real to first. Security is very impressive and taken seriously. The Liquid platform is designed to offer exceptional liquidity and it does. Many countries are supported on the Liquid platform, more so than most other cryptocurrency exchanges. However, U.S. customers are not accepted. This should change with the launch of the U.S. exchange but until then those who wish to take advantage of Liquid’s success will need to figure out how to buy QASH coin on another exchange and benefit from a speculative perspective.
The Liquid exchange’s platform gives the trader a high degree of trust from its mandatory 2FA (two-factor authentication) on all accounts to its limitation of only withdrawing to explicitly whitelisted addresses. Withdrawals are also processed manually and all funds are segregated in cold storage. If you can’t profit from these features directly on the exchange itself, the next best way to benefit is to buy QASH coin and profit from speculation.