Japan-based cryptocurrency exchange Coincheck announced today about adding QTUM cryptocurrency to its platform. There is no specific timeline about the tradings, though. By adding QTUM to its platform, the Coincheck cryptocurrency support list expands to 12.
Milestone for QTUM
QTUM was announced in 2016. Qtum Foundation is responsible for its development, and the cryptocurrency is based on an open-source blockchain. Qtum promises the benefits of bitcoin and ethereum simultaneously.
The developers claim that features like smart contracts are available on the QTUM platform, and also, the users can benefit from high-level security as in bitcoin blockchain. Qtum also supports decentralized applications (Dapps) like the ethereum platform. The token is traded at $2.48 at the time of writing and is ranked 36th in the list of cryptocurrencies.
Google and Amazon Web Services are two of the main partners of the Qtum Foundation. The partnership aims to make Dapps development environments.
Coincheck is one of the most famous exchanges in Japan, headquartered in Tokyo. Its most popular service is buying and selling cryptocurrencies with fiat JPY. It works as a subsidiary of Monex Group from April 2018.
Adding QTUM to the Coincheck platform means that more Japanese users can trade this cryptocurrency with the other 11 listings and also fiat money. That means more users for QTUM and maybe a price hike shortly.
No timeline
Coincheck doesn’t provide a schedule about adding QTUM to its platform. Anyway, the press note confirms that QTUM will be available in all its services.
Remittance, receipt, purchase, and selling QTUM will be available on the Coincheck platform once it’s listed. Besides, Qtum owners can take advantage of lending virtual currency service that is available in Coincheck web application. Users lend their cryptocurrencies to the exchange with that service using a loan contract. After the agreement period is finished, Coincheck pays the users with a confirmed percentage rate.
Coincheck warns users at the end of the press release about the Qtum price. “Immediately after the start of handling, prices may become unstable due to concentration of transactions,” says the press release.
