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Qtum is an open-source blockchain platform designed to allow developers to build applications and smart contracts. Its native currency, the QTUM token, has developed into one of the world’s top 25 cryptocurrencies by market cap at the time of writing (March 2018).
However, if you’re planning on buying QTUM, you’ll first need to find a suitable wallet where you can safely store your tokens. As well as official web, desktop and mobile wallets, there are also a few third-party wallets available that support QTUM tokens. Keep reading for more details on the best six to help you choose one that suits your needs.
Learn more How to buy Qtum (QTUM)
When you’re comparing the pros and cons of different QTUM-compatible wallets, remember to look for the following important features:
Learn more about what to look for in a cryptocurrency wallet in our handy guide.
If you want to store your QTUM offline in a hardware wallet, the Ledger Nano S is a popular choice. The main focus of this QTUM-compatible wallet is security, with your private keys stored in a secure element protected by a PIN.
There are also buttons and an OLED display you can use to manually verify transactions. Two-factor authentication is also supported.
Read our full review of the Ledger Nano S
The Nano S supports more than 20 currencies, including bitcoin (BTC), Litecoin (LTC), Ethereum (ETH), Dash (DASH) and Ripple (XRP). The Nano S connects to your computer via USB and is quick and easy to set up and use.
Of course, the main downside of any hardware wallet is the cost. At the time of writing (March 2018), the Nano S was selling for €79 (around AUD$125) on the Ledger website.
Unfortunately, at the time of writing (8 March 2018), no app was available for iOS users.
The set-up process is very simple, and once everything is installed, it’s relatively straightforward to use. You can send, receive and store funds with a minimum of fuss, and the app also supports smart contracts.
However, you will need to wait for the wallet to sync with the Qtum blockchain, which can take a while, and if you’re new to the world of cryptocurrency, you might find some of the other wallets on this list slightly less intimidating.
The second desktop wallet option is Qtum Electrum, which can also be downloaded from the Qtum website. Available for Windows and Mac operating systems, this secure wallet is focused on speed and simplicity.
It includes multisignature support for increased security and can be integrated with a hardware wallet if you want to access cold storage.
You generate a 12-word seed during set-up, which can be used to recover your wallet, and the wallet is simple and straightforward for most users.
However, for those users new to cryptocurrency, other wallets may be a little easier to understand straight off the bat.
Exchanges are regular targets for hacking attacks, which puts the security of your funds at risk. Most exchange wallets also don’t allow you to control your private keys, so it’s generally a much safer option to transfer your tokens to a secure wallet of your choice.
Find out which exchanges list QTUM in our complete guide to buying, selling and trading.
Atomic Wallet has a clean, self-explanatory and well-labelled user interface, which might make it the perfect option for a beginner who wants a reliable QTUM wallet.
However, the most defining feature that Atomic Wallet brings to QTUM might be that it allows QTUM atomic swaps to BTC or LTC directly through the wallet.
This essentially functions as an automated, anonymous decentralised exchange with minimal fees, built right into your wallet. If you'd prefer to swap it for other cryptocurrencies, you can also take advantage of the built-in Changelly and ShapeShift exchange support.
Overall, the end result is a wallet that delivers a high-powered range of features in a tidy package that you can jump into with ease.
The primary issue so far might be that Atomic Wallet doesn't yet have compatible hardware wallet options, so if you're looking for the utmost security you might give it a pass and check back once that's been added. But if you're just after something reliable and functional, this might be the one.
Bitpie is a multicurrency mobile wallet that supports QTUM, bitcoin (BTC), Ethereum (ETH), Litecoin (LTC) and a range of other cryptos. With a focus on user friendliness, this wallet makes it easy to send and receive payments and manage your crypto assets.
Bitpie offers a built-in escrow function based on multisig technology, which allows you to buy and sell crypto on a peer-to-peer exchange. A hierarchical deterministic (HD) wallet, it can be backed up using a 12-word recovery seed. PIN protection is also included, and you retain control of your private keys.
However, Bitpie also features a built-in professional Know Your Customer (KYC)/anti-fraud system, which may not be an attractive feature to users who place a high priority on privacy.
For fast and easy access to your QTUM tokens, it’s hard to go past the Qtum Web Wallet. This official wallet places a large emphasis on simplicity – you don’t need to be a tech or cryptocurrency expert to use it, and everything from set-up through to everyday use is handled with a minimum of fuss.
All the information you need is presented clearly and efficiently, though the user interface is fairly basic in design. New users should also be aware that web wallets come with greater security risks than desktop and offline wallets, so it’s important to exercise safety precautions at all times.
To ensure the security of your QTUM tokens, remember the following safety tips:
Check out our comprehensive guide to choosing a crypto wallet
At the time of writing, the author holds IOTA and XLM.
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