QASH Coin Review (UPDATED 2018): A Beginner’s Guide | VKOOL

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QASH is the currency for the QUOINE LIQUID system, which was developed to help solve the problem that faces much of the crypto world: liquidity.

Liquidity refers to how quickly and easily an asset can be bought or sold. Cash, for instance, is considered extremely liquid because it can be used immediately for a transaction. Another asset, like a gold coin, is not as liquid, because unless the person you're selling to accepts gold coins, you'll have to sell the coin for something that the person will accept, such as cash, before the transaction can be completed. By that time, however, you might be too late.

This is a common problem with cryptocurrencies. Unless it's something big like Bitcoin or Ethereum, you'll usually have to do multiple, time-consuming transactions in order to do the exchange you want: if you want “X” coin, you may have to convert fiat to Bitcoin, and then Bitcoin to “X” coin. If you want to cash your cryptocurrency into fiat money, it generally requires the same complex steps.

The less liquid cryptocurrency remains, the more its value is stifled. That's where QUOINE LIQUID comes in, and its approach could change things. And if you haven't done so yet, be sure to check out our list of the best altcoins fo 2018 to see which ones made it to the top.

The QUOINE LIQUID System

The focus of QUOINE LIQUID is to make it easy to convert crypto to fiat, and to use fiat to buy crypto. Different cryptocurrencies have different “trading pairs” (other currencies they can be easily exchanged for) and the amount of liquidity depends on which pair you're talking about. QUOINE is supposed to “connect” the systems that use these pairs into an easy network that all leads back to fiat currency, streamlining the process. It does this through two methods: a World Book and Prime Brokerage.

The World Book brings all of the different prices and orders from many different exchanges into one place, allowing the user to use fiat immediately to buy any kind of crypto, and sell any crypto for fiat. By doing so, it eliminates the need to hop from service to service, selling one thing for another, switching between multiple accounts, wallets, and exchanges, before being able to cash out.

How does it work? It uses a combination of an internal order book and an external aggregate order book to make pairs for trading that didn't exist before, making transactions faster.

Prime Brokerage gives the user universal access to all the different exchanges compiled in the World Book, making things easier than if you had to make a new account with each exchange.

You can also extend a credit line into the platform, making it one of the few services to do so.

How the QASH Token Works

QASH is designed like any other ERC-20 token, and is used to pay for QUOINE LIQUID services. Having QASH tokens also gives you rewards like discounts, promotions, and ICO opportunities. The team made 1 billion QASH tokens at the outset, giving around 1/3 to those who participated in the ICO.

In 2019 the QUOINE team will make their own blockchain and move all QASH to it.

Eventually, QUOINE envisions QASH being used by financial institutions as a form of payment.

Looking for more great tokens and coins? We've got you covered. Head on over to this link to read about our picks for 2018's best altcoins.

QASH's Team and Development

The project was founded in 2014 by Mike Kayamori and Mario Lozada, both of whom have experience in the finance sector (including SoftBank, Gungho, Merrily Lynch, and Credit Suisse). It's licensed by the Japanese Financial Services Agency, and does $12 billion worth of transactions annually.

The platform does have some competition, from SALT (the credit side), Binance (as a fiat-enabled exchange), and Bancor (in terms of focusing on liquidity).

However, QUOINE is the one service we've seen that brings all of these features together in one system.

QASH and Trading

QASH started trading in November 2017, with the value going up to $1.48 before plummeting to $0.60 in mid December. It rose a little just afterward, and bumped up a little again in January 2018.

The value should see a boost as more people flock to the platform.

Buying QASH

Right now the main places to buy QASH are QUOINEX and Huobi. QUOINEX allows you to buy it with yen and dollars. Huobi, however, requires you to buy with Bitcoin or Ethereum. You can also buy it from other exchanges like Coinbase and Gate.io. These are more popular, and you might have more trade pairs available from them. The price will change and users will change depending on the service. That means you might want to be specific about where you buy from.

Storing QASH

Because QASH is an ERC-20 compliant token, you can store it in any wallet that supports ERC-20, such as the ever-popular MyEtherWallet (online only).

If you prefer to use a hardware wallet, however, the Ledger Nano S can work with ERC-20 tokens. While it's pricier, it's also more reliable and safer since it can be held in “cold storage” (offline).

One thing to keep an eye out for is when QUOINE moves the QASH tokens to its blockchain, at which point whatever wallet you're using might not allow the token to be supported.

QASH vs Ripple

Both of these services are focused on making transactions quicker by improving liquidity. QASH is an all-in-one service that compiles world exchanges into one so that you can have a quick was to convert cash into crypto (and vice versa), while Ripple offers a platform that uses their own token to make asset exchange quicker – liquidity made possible by using their token as a go-between. QASH is in the earlier stages of development, technically, while Ripple is more functional. Ripple seems to be trading higher than QASH as well, but that may change once QASH goes into full functionality.

QASH vs Iota

These are quite different services, really. QASH is a token for use in the QUOINE LIQUID fiat-to-crypto  platform, while Iota is a transaction platform that uses a chainless ledger for recording transactions. QASH and QUOINE are both going to be utilizing blockchain technology, while Iota is opting for a “distributed ledger,” which they say will make the service quick and scalable. Iota will use no fees to transact, while QUOINE requires payment in QASH for transactions and services.

QASH vs Bitcoin

These coins are very different, and shouldn't really be compared to one another. While they're both “coins” that are being traded on the market and thus have value, they're used for different things. Bitcoin is a cryptocurrency that's used for paying for services, assets, items, and fees (depending on who accepts them), while QASH is a token that doesn't have any real utility outside of the QUOINE LIQUID platform, but which they hope will be used by financial institutions. QASH is also basically in its beginning stages, while Bitcoin is popular and has had a lot of traction gaining over the past few years.

Frequently Asked Questions

  1. What is QUOINE QASH?
    QASH is the in-house currency of QUOINE LIQUID, a platform that consolidates markets around the world into one easy place where you can instantly trade fiat for crypto and vice versa.
  2. Is QASH a token?
    Yes, QASH is an ERC-20 token, rather than a traditional cryptocurrency.
  3. Where can I buy QASH?
    You can buy it on several exchanges, including QUOINEX, Huobi, Coinbase, and Gate.io.
  4. Is QASH an exchange?
    Technically QUOINE is the “exchange,” while QASH is the token used for transactions on QUOINE.
  5. What is QASH?
    QASH is a token used to pay for transactions on the QUOINE service.
  6. When was the QASH token sale?
    If you mean the ICO, it was in November 2017.
  7. Is there a QASH Reddit?
    Yes, you can read about it out on Reddit, where there's a small community dedicated to it
  8. What was the QASH ICO?
    It was in November 2017, where the initial coin offering was offered and people invested in QASH tokens.
  9. Does QASH have a Twitter?
    QUOINE, the service, has a Twitter. QASH is a searchable hashtag, though.
  10. Where can I read about QASH news?
    You can read it at the QUOINE Twitter, the subreddit, and at crypto blogs.
  11. Can I buy QASH on Binance?
    Not at the moment.
  12. Is there a QASH wallet?
    You can use any ERC-20 compatible wallet to store QASH coins on.
  13. What's the QASH roadmap?
    Head on over to the QUOINE website to check out what their plans are for 2018 and 2019.
  14. What about QASH vs Ripple?
    Feel free to check out the previous section where we compare these two currencies.
  15. What's the QASH World Book?
    It's a compilation of exchanges worldwide into one big mega-exchange, allowing people to view exchange rates and do trades and cash-outs on virtually any currency worldwide.

Conclusion

QASH and QUOINE LIQUID are bringing lots of things to the table, not only in terms of the services they offer, but the approach they're taking: by aiming to make things simple and painless, they're removing unnecessary work and making it more attractive for people to get into cryptocurrency with little-to-no experience beforehand. No longer will you need to be a savvy crypto hobbyist with multiple accounts and your own workflow for getting your money transferred and cashed out.

Although this service is in its infancy, it will be fascinating to see how it manages to do over the next few years, and what that does to the price of the QASH token.

2018 promises to be a big year for crypto, but there are so many coins out there that it can be hard to figure which are the best. That's why we've released our new list, which has all the best altcoins you should consider investing in this year.

Peter Lehmann

Peter is a blockchain investor and cryptocurrency writer at Vkool.com. Since 2014 Peter has advised blockchain startups and ICOs on content marketing, strategy and business development.

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