How to Convert QTUM to USDC
QTUM is a cryptocurrency based on the Ethereum network and combines Bitcoin unspent transaction output (UTXO) model. It was created in 2016 and its primary purpose is to provide a more efficient platform for digital payments. However, there are also other applications of QTUM that could be useful for businesses. For example, QTUM could be used to create a more efficient system for tracking inventory, create a decentralized platform for transactions, or improve customer service.
To convert QTUM to USDC you will have to find a reliable and easy-to-use exchange. There are many platforms online that can help you complete your conversion, and the method will vary slightly from one exchange to another. Rubix offers the quickest, safest, and most reliable means of QTUM to USDC.
About QTUM & USDC
What is Qtum?
QTUM is a cryptocurrency created in 2016 to create a suitable platform for adoption by large organizations. It combines the security of Bitcoin’s blockchain model and the flexibility of Ethereum’s smart contracts feature.
This implies that the cryptocurrency runs applications and smart contracts with a high level of security, just like Ethereum. However, it utilizes solid blockchain technology, with methods like Proof-of-Stake for creating new blocks, which is far easier and less energy-intensive.
In addition, QTUM uses the UTXO model, a new accounting system that provides a high level of transaction security. With UTXO, you can be sure that your transactions won’t be handled in any way that could allow someone to manipulate or steal your money nefariously.
QTUM coins also provide voting rights in its on-chain governance system. These voting rights are vested in users who hold a certain number of QTUM coins. The voting rights are used to ratify proposals that would amend or change the terms and conditions of the network’s governance structure, including, but not limited to, changes to its codebase, ruleset, wallet client software, and user interface.
What is USD Coin?
USD Coin is a digital currency pegged to the US Dollar’s value, making it a stable coin. It is fully collateralized, legally protected, and transparently audited. One of the main strengths of USD Coin is its stability, making it less susceptible to the price changes faced by other cryptocurrencies. USDC reserve assets are held in segregated accounts with US-regulated institutions.
Below are some of the uses of the USD Coin:
– Hedge against volatility: Holders of USDC can minimize the risk of cryptocurrency price fluctuations. The token keeps a stable value against the dollar and provides traders security.
– Easy deposit & fiat trading: USD Coin is part of a system that makes it easy to trade (on and off exchanges), send money to family, split a bill with friends, buy or sell anything in seconds, trade like a pro, and get loyalty rewards points. It also reduces capital controls as funds stored in USDC do not have to be exchanged back to fiat for redemption of another transaction.
– Reduce volatility outflow risk: As a user, you are given an option to transfer USDC only when you feel necessary. This helps you avoid any cash flow issues from your cryptocurrency holdings in times of market volatilities.
Convert QTUM to USDC using Rubix
To convert QTUM to USDC, you first need to create a Rubix account. Below is a step-by-step guide for converting your QTUM to USDC using Rubix Exchange:
1. Login to your Rubix account
2. After selecting QTUM to USDC pair, enter the amount of QTUM you would like to convert to USDC
3. Confirm the amount of USDC you will receive and the the transaction will be executed