How To Short Quant (QNT)
- James Page
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Author: James Page - Last Updated on June 28, 2022
Summary: Shorting Quant is pretty straightforward, all you need is a cryptocurrency trading platform that allows for short selling. While there are a few exchanges out there that have added the ability to short crypto, our recommendation is to use eToro. They’re well-known, have a global presence, and are trusted by millions of users from 100+ countries.
We’ll be using eToro in our guide, you can sign up with one of the sign-up buttons below.
Before we get started, let’s quickly explain what shorting is (for those that are new to it). Shorting is the practice of selling a cryptocurrency hoping it will drop in price so you can buy it back later for cheaper… which, if successful, will give you a net profit.
It might sound a bit complex but don’t worry, it’s a lot easier than you might think.
How to Short Quant
Shorting Quant can be done in 4 steps:
- Find a crypto trading platform
- Sign up with the exchange
- Fund your account with fiat or crypto
- Short Quant
1. Find a cryptocurrency exchange
As mentioned before, for this guide we’ll be using eToro as they offer the ability to short the most common cryptocurrencies.
You can, of course, use any other crypto trading platform that allows for short selling.
2. Sign up with the crypto exchange
Let’s start with creating an account on eToro.
The sign-up process is very easy, as is the verification that needs to be completed afterwards so you can get started.
3. Funding your account
Next is funding your account. You have several deposit methods to choose from when depositing funds into your eToro Account. These include a bank transfer, credit card, debit card, PayPal, and more.
4. Short Quant
These are the steps to follow to execute a short sell:
- Go to the search bar at the top, find Quant by entering the name.
- On the crypto page/section, on the right side, hit the TRADE button to enter the trading interface.
- At the top of the trading interface: Click on sell to short the crypto.
- Enter the amount for which you want to sell Quant and click on “Open Trade”.
Once you’re ready to close the trade, hopefully when the value of Quant has dropped, go to your Portfolio, find the Quant trade, and click on the red cross to close the trade.
If your assumption/prediction was right, then the profit will be added to your account after closing the trade. If you were wrong on the other hand, you’ll incur a loss which will be debited from your eToro account.
Congratulations, now you know how to short Quant!
Disclaimer:Â Trading, investing, and dealing with digital and cryptocurrencies might involve a lot of risks. Their prices are volatile and performance is unpredictable. Their past performance is no guarantee of future performance.
Affiliate Disclosure:Â This site is supported by its users. We may receive commissions for purchases made through the links on our site. This does not impact our reviews, guides or comparisons.
Where to Short Quant (QNT)
Aside from eToro, the other major exchange you can use is Binance.
While Binance tends to be a bit more advanced when compared with eToro, they do have a lot more digital assets to trade with.
Frequently Asked Questions
Can I short Quant on Binance?
Yes, you can short Quant on Binance. They have over 300 cryptocurrencies on offer, have a decent phone app and a lot of advanced trading features.
About Quant
Quant was established in June 2018 to connect networks and blockchains worldwide. The goal is to improve the interoperability and efficiency of the network. It is the first project which solves interoperability problems by creating the first blockchain operating platform.
The project is built to be an operating platform distributed ledger tech--and OverledgerNet -- that connects different blockchain networks. The project is described as the first OS that has been built for Blockchains.
Quant uses Overledger to bridge any gap between blockchains. Quant describes the Overledger ecosystem as the core of the project.
Overledger enables developers to build multi-chain and decentralized multichain applications (known by MApps) for customers. Developers need to have certain Quant tokens (QNT) in order to be able build Mapps on this network.
Innovators have discovered use cases for blockchain and distributed ledger technology in almost every industry since its introduction. The problem with seamless interoperability has been that these projects are not compatible. Quant was designed to be the missing link among the "different blockchains".
Quant's operating software, Overledger, was developed to provide a gateway to other blockchain-based projects. It allows an application to be connected to other applications in a blockchain ecosystem such as Ethereum.
Quant is more than multiple blockchain interactions. It creates different layers for apps that can interact at different levels. Quant includes layers for transactions and messaging, filtering and order, as well an application for sharing and referencing the same messages in relation to other apps.
Quant App Store is able to read and track transactions across multiple ledgers. Overledger lets developers create smart contracts for a wide range of chains. Even those that don’t support them, such as Bitcoin. Developers can also create and release multichain applications (MApps), using the store.
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