What is QASH Token
Qash is a very interesting cryptocurrency. It is based on Ethereum, but developers say that this electronic coin is the next generation after Bitcoin and Ethereum. This statement sounds very interesting and let’s check if it is correct.
This cryptocurrency is relatively young. It exists since December of 2017. This project is integrated with the “Liquid” platform and the Quoine company that develops the cryptocurrencies. What is this platform and cryptocurrency? What are its prospects?
Development of the Liquid platform
The Quoine company was created in 2014. First, they created a platform that was an exchanging platform between different cryptocurrencies. Their idea was to connect different markets to make them more liquid. The problem was in the fact that the small cryptocurrencies were very volatile and unstable, and people weren’t able to earn money using them effectively. It was very hard.
The idea to connect different exchanges had these advantages:
- All orders are in one stream. It can distribute the risks between different financial assets.
- Higher safety. More stable exchanges and assets can bring more money, and you can be sure of a happy future.
They created the World Book. It was a special registry that could connect all orders to one stream. The total number of transactions via this platform achieved a level of 1 million transactions per second.
QASH cryptocurrency was an internal cryptocurrency for the needs of this exchange. However, developers plan to move it to its own blockchain to make it more independent. Trading with QASH first started in 2017. In November of that year, ICO was successful. The price of this cryptocurrency was increased 3 times, but after this great movement, the long correction started.
QASH is a successful ICO. The best analysts evaluate this digital token very well. How can we tell that ICO was successful? Numbers can tell everything. The total amount of invested money in this project was 100 million dollars. This is very approximate. Five thousand investors from 90 countries invested their money into this token. It is a very great result.
There are aspects that allow us to say that this cryptocurrency has great prospects:
- Government regulation. The motherland of QASH is Japan. This is one of a few countries where cryptocurrency is legalized. It is a reason why this company is so stable.
- It became partners of the greatest banks of Japan, the USA, the EU, Singapore, and other countries. It makes this project even more promising.
- A great reputation of this company makes it reliable.
Investment into QASH
We know that this project is promising. The idea to create a centralized trading platform is attractive for many traders. It can correct the main problem of cryptocurrencies, which is a lack of regulation, while saving the main advantage of any blockchain coin. There are a lot of advantages that make QASH attractive for people who want to invest their money into this project:
- The connection of different cryptocurrency and fiat money exchange platforms. This idea is attractive for usual users. Investors think like a customer, so this advantage makes the QASH attractive for investors.
- It is based on the Blockchain platform. We don’t fully know all the prospects of blockchain because we haven’t used it for a long time. The known advantages of blockchain make it attractive by itself.
- The great reputation of this company. Creators are developing the QASH correctly – there are a lot of connections with the famous banks around the world and active collaboration with the Bitfinex exchange, which is popular among cryptocurrency traders.
To be honest, there are some risks with investments in this platform. These are:
- Young project. The words said by creators can sound great but it is harder to implement the idea in real life. There are a lot of promising projects that didn’t manage to realize their great ideas.
- Due to the young age of this cryptocurrency, the technical risks also exist. We need more time to check the platform errors, mistakes in the program code, and the possibility of hacker attacks.
In general, this project is promising but all types of investments are associated with risks.
The QASH price dynamics
Previously, the price of QASH was growing but now it is falling. However, there is a small chance of this asset’s growth again. It is normal when cryptocurrency changes the price very fast. It is an opportunity to buy it at a low price and sell at the best price very fast.
This is a young altcoin. It means that you can be unsuccessful if you buy this asset on the exchange. However, the low price is a great opportunity to practice trading skills. This coin does not cost a lot, so you can buy it almost for free and wait for the moment when the price will grow. If you lose, you don’t lose much.
What is the price of QASH? At the moment of writing this article (23rd of August, 2020) you could buy this asset for 4 cents. This is a really low price, isn’t it? However, you should understand that this cryptocurrency can cost differently at the moment of reading this article.
QASH purchasing limits
If you live in a country where cryptocurrency purchasing isn’t allowed, you should not buy QASH. For example, if you live in China and you are a resident of this country, buying QASH is forbidden for you.
QASH purchasing can be done only if you are experienced in cryptocurrency trading. Any factors can lead to losses after buying this cryptocurrency. You know about the risks of this digital asset.
Some words about risks
Buying QASH is associated with a huge risk. Before you buy this cryptocurrency, you should understand these points:
- Cryptocurrency is saved in a wallet. To get access to it, you need to remember the password. You need to write down your password in a reliable place. Also, you can lose all your money if someone hacked your password. For this reason, you need to create a reliable password that at least consists of letters and numbers.
- Some services are only being developed and can be changed. People who buy it should understand this.
- QASH is a very volatile cryptocurrency (as other digital coins based on blockchain).
- QASH depends on the Ethereum protocol. If it has some bugs, QASH can also work incorrectly. This fact can affect the price. So, you also need to understand these risks.
Some words to sum up
Now, QASH isn’t a full cryptocurrency because it is used only for exchanging and organizing only the stream of cryptocurrencies with higher liquidity. When this token will be based on its own blockchain, it will be a new period in QASH’s life.
In conclusion, you can buy this cryptocurrency if you are a beginner and want to understand the trading. This cryptocurrency has a low price, it has good prospects and you can be successful. However, don’t forget that all cryptocurrencies are associated with risks. Don’t invest more money than you are ready to lose.