QVolta is a mobile app and web platform that lets you buy and sell crypto assets worldwide using local payment methods. Here’s our QVolta review.
What Is QVolta?
QVolta, found online at QVolta.com, is a P2P cryptocurrency-fiat exchange that lets users buy and sell crypto assets using local payment methods. You can access the exchange through your web browser or through a mobile app.
The QVolta ICO began on October 10, 2017.
Overall, QVolta aims to facilitate international cryptocurrency use with local payment methods. It aims to make cryptocurrency as accessible as fiat currencies. Today, buying cryptocurrencies is similar to buying stocks and bonds – it’s not like buying an ordinary currency. QVolta hopes to make crypto go more mainstream by making it accessible to a large portion of the global population.
What Problems Does QVolta Seek To Solve?
QVolta, overall, aims to remove barriers to entry in the cryptocurrency world. The company believes that today’s cryptocurrency exchanges are centralized in a way that’s too similar to traditional banking. Traditional banking systems have barriers to entry and exclude certain individuals – like those without ID, or those who don’t live in a certain country. QVolta believes the cryptocurrency exchange world is heading a similar direction.
QVolta wants to break down these barriers with a secure and convenient solution. They want to make a system that’s easy for the layperson to use. They want to open cryptocurrencies to a wider base of users.
Obviously, a lot of exchanges and cryptocurrency apps are trying to target a mainstream audience. Let’s take a closer look at how QVolta works.
How Does QVolta Work?
QVolta aims to offer similar service to LocalBitcoins. Users can buy and sell cryptocurrencies using local payment methods – like cash transfers in-person or online payment transfers.
The main difference between QVolta and LocalBitcoins is that QVolta aims to offer lower commission rates.
At the same time, QVolta offers an escrow-like service similar to LocalBitcoins, where your coins are held with a trusted third party while the exchange is completed. QVolta describes itself as a “guarantor” for global trades. However, they insist they’re not a middleman, and they’re not creating a centralized platform with high fees. Instead, they’re simply guaranteeing the transaction without even taking custody of fiat funds.
In other words, the role of QVolta is simply to ensure that the transactions take place. They do this without taking a large cut. Commissions are still charged on transactions, although QVolta plans to charge lower rates than LocalBitcoins and similar services.
Who’s Behind QVolta?
The idea for QVolta was established in Q4 2016. The company developed its MVP throughout the first half of 2017, with a pre-ICO taking place on August 15. The full-featured product (desktop version, available through your web browser) launched in September.
The company is led by Kirill Murzin, CEO and Co-Founder, as well as Viacheslav Averkin, also listed as CEO and co-founder. Other members of the team include Ilia Filatov, CBDO and co-founder, and Dmitry Semenov, co-founder and development team lead.
The company is based in Singapore.
The QVolta Token Sale
The QVolta ICO begins on October 10, 2017. Bonuses are available during the first three days of the ICO. There’s a total supply of 18 million QVT tokens, with a base rate of 1 ETH = 1,000 QVT.
80% of the total supply of tokens is going towards the token sale. 19% is reserved for the project team, with 1% reserved for bounties.
QVolta’s ICO began on October 10. The company will release its mobile apps for iOS and Android on January 10, 2018. The desktop version of QVolta is already available as a full-featured product.
To learn more about QVolta, or to participate in the ICO, visit the company online today at QVolta.com.