Want to jump straight to the answer? You can buy QuickSwap on Coinbase.
QuickSwap is a decentralized exchange running on the Polygon network. QUICK is the Ethereum token that powers QuickSwap. It can be used for voting and staking for interest, as well as buying, selling and swapping.
Launched in 2021, QuickSwap is still in its infancy. Even so, it has been experiencing steady growth over a short period of time.
What is QUICK?
QUICK is the Ethereum-based token that powers QuickSwap. QuickSwap is on the Polygon network (formerly the Matic Network) and is a fork of Uniswap. Polygon is a Layer 2 scaling solution for Ethereum, and as such, offers faster transactions with a lower cost.
The purpose of QuickSwap is to provide a decentralized exchange (DEX) where anyone can provide liquidity. The benefit of this is that anyone can also earn a passive income through liquidity provider fees.
![Quickswap [OLD] thumbnail](https://assets.coingecko.com/coins/images/13970/large/1_pOU6pBMEmiL-ZJVb0CYRjQ.png?1613386659?optimize=medium&dpr=2&auto=webp&width=3840)
QuickSwap works via a set of Ethereum-based smart contracts that make it possible for people to create buy or sell orders without the need for providing personal information. These smart contracts handle token swaps on the Polygon Network.
If your interest is yield farming, you’ll be pleased to learn that you can start with any amount you choose without the worry of high gas fees, because on QuickSwap, transactions cost a fraction of 1 cent. This is particularly good for those who are new to yield farming and want to start small while they learn the ropes.
Becoming a liquidity provider is simple. On QuickSwap, you can view the pools available. You’ll receive liquidity pool tokens, also called pool tokens, in exchange for your deposit. Those tokens are then deposited in the corresponding pool.
Each pool will list the daily amount that it is allocated, and the amount you earn is based on the percentage of the pool that your liquidity has. You can withdraw your tokens at any time.
Brief History of QuickSwap
QuickSwap launched in February 2021 and quickly grew, hitting an all-time high of $1,669.32 by the end of April. It has since corrected drastically, giving it a rank of 226 on CoinMarketCap. The reason for this drop in price is uncertain. Some have suggested that the site had technical issues, others feel it was due to Polygon’s announcement that SushiSwap was available on Matic.
The founders of QuickSwap are Nick Mudge and Sameep Singhania. Mudge has been an active blockchain programmer for over 6 years and is the author of EIP-2535 Diamond Standard, as well as ERC1538 and ERC998 Ethereum contract standards.
Singhania is the co-founder and Director of Ginete Technologies, a blockchain development and consulting company.
How to Buy QUICK
If you are intrigued with the concept of this project, you probably want to learn how to buy QUICK. It’s not too hard to do. Here are the basic steps.
- Open an online account.
The first thing you need to do is open an account on Binance or Coinbase. Just go to the registration page and create an account with your email address and a good password.
You’ll then receive an email with a code that you’ll be prompted to put in on the exchange website to verify your account. At this point, you should also consider setting up 2-factor authentication and connecting your form of payment. - Buy a wallet (optional).
If you want to make transactions on QuickSwap, a wallet isn’t really optional. In fact, you have to connect your wallet before you can do anything else. Luckily, most software wallets on the market are free. If you want maximum security over your digital assets, however, then you should opt for a hardware wallet. The question is, which wallet should you use?
- Make your purchase.
Now that you have your exchange account and your wallet, it’s time to buy some QUICK. This is the easiest (and for some, the scariest) part. If you’re nervous, remember, start small! You don’t have to buy $500 worth. You can start with $5 if you want to.
Simply find QUICK on the exchange and click the Buy button. Choose your dollar amount and your payment method. Now smash that buy button and you’ll be the proud owner of QUICK tokens!
Cryptocurrency Wallets for QUICK
- ERC-20 tokens
Best hardware wallet: Ledger
If you hold much crypto, a hardware wallet is your safest bet, and the Ledger is the best hardware wallet out there. Not only does a hardware wallet keep your crypto safe from thieves and hackers, but the Ledger Live app also makes it easy to manage your crypto.
The downside is that, even though you can manage more than 1,800 coins and tokens with Ledger, QUICK isn’t one of them. However, you can swap your QUICK for MATIC or another token to store on Ledger and convert it back to QUICK when you’re ready to make a transaction.
- Active Crypto Traders
Best software wallet: Coinbase
Coinbase wallet, on the other hand, does support QUICK, and the only way you can interact with the QuickSwap platform is to connect your smart wallet. Coinbase wallet is listed as one of its compatible software wallets along with Metamask and a couple of others.
The benefit of the Coinbase wallet is you can quickly move your assets back and forth from your wallet to your Coinbase account. Coinbase wallet holds all of your cryptocurrency and non fungible tokens (NFTs), and it allows you to trade over 500 assets on DEXs and earn interest.
Bonus:
Keep an eye on Polygon (MATIC), because as it continues to expand, QuickSwap is expected to grow as well.
Trade, Sell or Convert your QUICK
Converting your QUICK to another token is simple on QuickSwap. All you do is click “From” and select QUICK from the drop-down menu. In the “To” box, set it to the asset you want. You’ll see a long drop-down menu of options.
QuickSwap will ask you to confirm your swap and your software wallet will ask you to confirm that QuickSwap is allowed to spend your token. Look at whatever fees are listed to make sure this is what you want to do. Then click “Confirm.”
Buying or selling is done through limit orders, which are provided by a 3rd-party protocol called Gelato. The QuickSwap exchange says this is still in beta, so do your own research and proceed at your own risk.
Fortunately, you can also buy, sell or trade your QUICK on Coinbase or Binance. Just transfer it over to your preferred exchange using your software wallet.
Current Crypto Prices
Cryptocurrency prices are always volatile. They can go up or down from one minute to the next with what seems like no rhyme or reason. Looking at the top cryptocurrencies over the long term, however, will show that they grow more than they dip.
Before you invest in any digital asset, do your research so you understand what you are dealing with. Never invest more than you can afford to lose.
Is QuickSwap a Good Investment?
Most experts see a favorable future for QuickSwap, though it’s hard to know for certain. This is still a very new cryptocurrency and while it has performed impressively so far, it’s anyone’s guess what it will do in the coming years. However, if its recent growth is any indicator, QuickSwap may be a key player in the crypto world in no time.
- Exclusive Crypto Airdrops
- Altcoin of the Week
- Insider Interviews
- News & Show Highlights
- Completely FREE