How to Invest in Qubic
In order to invest in Qubic, there are several steps you need to follow. This guide will walk you through the process.
1. Create a Seed
Your seed acts as your password, it's similar to a private key in the world of Bitcoin. This is sensitive information and must be kept safe at all times.
Never share your seed with anyone. If you lose it, you lose your Qubic Units (QUs).
The seed must consist of 55 lowercase characters. Just randomly generate your seed. Here's an example of a seed:
2. Get your Qubic ID
Your Qubic ID is 60 character long and derived from your seed, similar to how a public key is derived in Bitcoin. To obtain your Qubic ID, you can either add your seed to the qubic.li wallet or enter it in the Signer/verifier index.html
Your Qubic ID is the address you provide to a seller to receive QUs and looks like this:
3. Find a Seller to do an Over The Counter (OTC) Deal
Check out the OTC channel on the Qubic Discord Server. You can look for sellers or post a request to buy. Currently, only OTC deals are conducted. In OTC deals, the seller and the buyer strike a deal directly. For safety, you can use an escrow agent.
An escrow agent acts as an intermediary, ensuring that no party gets scammed. Here's how it works:
- The seller transfers QUs to the escrow account.
- The escrow agent informs the buyer when the transaction has been confirmed.
- The buyer transfers Bitcoin or any other currency to the seller's account.
- When the seller confirms receipt, the escrow agent transfers the QUs from the escrow account to the buyer's account.
4. Use the Wallet at qubic.li for Convenience
If you want to check your balance or make transactions, use the qubic.li wallet. Create a vault and add your seed there to interact with Qubic.
This is an online wallet, so there are inherent risks. If the server is compromised, your seeds could potentially be at risk, even if they are stored on your machine only. Always ensure you trust the platform you're using and understand the risks involved.
5. Check qubic.li for Network Stats and Transaction
For those interested in additional information about the network, visit qubic.li. Click on "Log In" (you can use prefilled data, no need to create an account for now) to see the network stats.