Simple Guide to the Best Qtum Wallets in 2024
Investing in Qtum is always a good idea especially if we consider its top 30 position and of course the fact that the project successfully won the trust of many crypto enthusiasts. If you are planning to join Qtum network and invest a certain amount of money you will need a wallet to hold and maintain them. The truth is that despite the wide acceptance and the huge audience, the wallet providers of Qtum are not that many. I decided to save your countless hours of research and compile a list of all wallets available to date and explain the differences between them. I will give you some advice based on my own experience.
01.The Best Qtum Wallets
Picking a wallet is a quite individual decision because same as the normal pocket wallets, the digital ones got their differences like interface, functionality and of course included features. The choice is based only on personal preferences because they will point you to the best fit for you. You are probably wondering what I mean? It’s simple, if you peek at the table below, you will see that most of the wallets support only QTUM and if you send different cryptocurrency to such address, the amount will be forever lost. Think over how frequently you intend to use your wallet and how much funds you are looking to store there. Mobile wallets are the perfect fit for daily usage, you have access anytime, anywhere but the constant connectivity to internet exposes you to many threats. If you prefer security over accessibility, I will strongly recommend you dedicate a pc or laptop you have lying around and install a desktop wallet. To reduce the chances of breaches you must not use that PC for browsing purposes and always keep your security apps updated. If you are willing to spend some money on hardware wallet you will be able to combine security and accessibility. Have a look at the table now, take your time, get acquainted with all small details and please do not hesitate to use the links and explore your options.
| Type | Name | Compatibility | Supported Coins | Pros & Cons | Get Wallet |
|---|---|---|---|---|---|
| Desktop Wallets | Full Qtum Core Review |
QTUM Only |
Official Qtum Wallet You Have to Download The Whole Blockchain |
Download | |
| Full Qtum Electrum Review |
QTUM Only |
Open Source No Two-Factor Authentication |
Download | ||
| Full Atomic Review |
12 Coins ERC20 Tokens |
Atomic Swap No Two-Factor Authentication |
Download | ||
| Hardware Wallets | Full Ledger Nano S Review |
47 Coins ERC20 Tokens |
Highest Security Costs Around 100$ |
See Pricing | |
| Full Ledger Blue Review |
47 Coins ERC20 Tokens |
Highest Security Costs Money |
See Pricing | ||
| Mobile Wallets | Full Qtum Core Review |
QTUM Only |
Official Qtum Mobile Wallet Available Only for Android Currently |
Download | |
| Web Wallets | Full Qtum Web Review |
QTUM Only |
Official Qtum Web Wallet Less Secure Than Other Wallet Types |
Visit Website |
02. Common Features of Qtum Wallets
Taking under consideration the limited number of wallet providers it is quite hard for me to point to particular common features. Those which are falling under that criteria are strongly related to the security and privacy factors and extensively explained in the next section of this article.
Security and Privacy
Security and privacy are highly valued by all crypto users because they lie in the foundation of every decentralized blockchain society. The open-source code and the HD (Hierarchical Deterministic) functionality are most widely adopted, their detailed explanation you can find below.
Hierarchical Deterministic (HD)
Functionality which generates a passphrase called “seed” used to restore access or lost password of your account.
Open Source
Users are allowed to review, change or check the authenticity of the code and actively participate in the development of the network.
Secure Qtum Wallets to Consider
Wallets for Qtum Staking
With Qtum you have the option to earn passive income. The currency uses a Proof of Stake consensus mechanism which allows users to stake their coins. Bear in mind that this functionality is supported only by the official Qtum wallet. It is a full node wallet or otherwise said, prepare some hard-drive space to download and store the whole blockchain on your computer. From then on you must enable staking from the wallet’s interface and leave it constantly online to support the network and generate passive income.
Transaction Fee Management
With some cryptocurrencies, you can face different fees and options to control them but with Qtum they are fixed and based on the size of your transactions. The higher the volume in bytes is, the higher the fee will be. You can expect to pay 0.00000040 QTUM per byte of data.
03.FAQ
-
Does Qtum have staking on mobile wallets or hardware wallets?
No, only the Qtum core wallet can be used for staking and its available as a desktop client or web platform. As I previously mentioned, in both cases a copy of the complete blockchain will be required.
-
What are QRC20 tokens?
QRC20 tokens are the equivalent of the ERC20 tokens but on Qtum network. They share the same purpose, allowing execution of smart contracts and DApps. Similar to Ethereum, to perform transaction you use contract calls and a small amount of QTUM as a gas fee.
04.About Qtum
Similar to Ethereum, Qtum is a hybrid platform, based in China which connects the blockchain with a virtual machine. It provides the opportunity for all developers to build apps and smart contracts under the existing blockchain. It is an open source platform with the main goal to level its success with Bitcoin and establish its place on the DAPP and smart contracts market. They are targeting mostly the business sector and industries willing to launch a streamline daily routine with the help of the first Value Transfer Protocol (VTP). The platform allows the execution of smart contracts as part of an Unspent Transaction Output (UTXO). The native internal token is called Qtum coin and it is used the same way as a Gas token on Ethereum network.
The development team is striving to combine Bitcoin and Ethereum as functionalities but at the same time get rid of all disadvantages typical for both networks. This ambitious idea successfully collected over 1 million USD from different investors and crowdfunding campaigns. Only the ICO brought 15.6 million USD as start-up capital. The first release of tokens was done in April 2017 while the ICO was in motion, the total number of tokens at that point was 100 million. While 51% of those were dedicated for selling and 49% distributed in accordance with the predetermined mechanism. Later on, in October 2017, the Qtum token market capitalization reached $690 million with trade value of $11.69 per unit.