What is Status

What is Status

Status is the open-source platform and the mobile app. This project and its token SNT are parts of the Ethereum infrastructure. Ethereum allows developers to create their own tokens within the Ethereum network, and SNT is one of the Ethereum based tokens. It is used in the Status messenger app and allows users to chat, send and receive ETH and launch their own decentralized apps.

Advantages of using Status

Value for the community

Status coin is not just a token, it is used to connect Ethereum community and to let them interact with each other in different ways. The more people use Ethereum, the more valuable the Status coin will be.

Coin for creators

If you are an artist or a designer you can share your content with the community, and work on it together with other creators. You can also sell our content for ETH or SNT tokens directly.

Coin for business

Any user of the Status project can create its own company without any limitations and start business in the decentralized app.

Status definitions

Cryptoasset

As the Status coin is an ordinary Ethereum based cryptoasset, it has all the standard coin’s features. It is cryptographically secure and can be bought, sold and exchanged to any other cryptoasset.

Exchange

There is a plenty of special platforms allowing you to exchange cryptocurrencies. All of them are called Exchanges.

Node

Node is a computer with the full copy of the blockchain on the hard drive.

Market cap

Market capitalisation is the value of the all Status coins. It is usually calculated in USD.

Status coin investment strategy

You can choose any investment strategy you want to start to invest into Status coin.  

The easiest strategy is to buy and keep your cryptoassets for a while. You can buy Status coins and watch them grow, as the community progresses. When it grows and you would like to fix the profits, you can easily switch Status coins to fiat money or other coins you like via BestRate.org.

Where to keep Status coins

Online wallets

You can keep Status coins on almost every wallet, that supports Ethereum. The easiest way to store Status is to use MyEtherWallet. It is a convenient solution for almost every purpose.

 

Hardware Wallets  

You can also use Ledger or Trezor wallets too. They both supports the all functionality needed.

How to transfer Status coins securely

As any crypto payment is a peer-to-peer money transferring, one should be extremely careful. In every cryptocurrency transaction you are the Bank for yourself. There are some tips that will help you to transfer Status coins safely.

Never type a wallet address manually

Always use only copy-paste operation to enter a wallet address. Any mistake can cause an error and let your money get lost in the network.

Look up the transaction fee

Any good wallet or an exchange platform will show you the transaction fee for your money transfer. Look for it anytime you send Status coin to anyone.

Double check the address

Make sure that the address of the recipient is correct and check it several times before sending off the sum, especially if you transfer big amounts of Status coin at a time.

Test before sending

Anytime you send a huge amount of Status coins check the whole procedure on a small amount. When you will be sure that your partner received the money, do the same thing with the rest of the asset.