Status (SNT) Coin – Everything You Need to Know by CoinSwitch

What is Status ?

Status (SNT) is regarded as a decentralized cryptocurrency that works as a messaging platform. It is both developed for desktop as well as a mobile interface. It actively interacts with the dApps that are backed by the Ethereum blockchains. They are built on P2P technology to provide better control and accessibility. 

This Post: Status (SNT) Coin – Everything You Need to Know by CoinSwitch

It allows easy access, browsing, and smooth interaction with the dApps integrated into the blockchain on Ethereum. The primary purpose of this was to send and receive encrypted messages and work well with a digital crypto wallet. In addition, it aims to promote the use of the Ethereum network.

Primary features of Status

• Receive P2P encrypted messages over the messaging client.

• Promote the use of Ethereum dApps.

• Allows the user to control the various digital currency transactions.

• Provides the user better access over smart contracts.

• It develops infrastructure tools that attract users to create a healthy community.

• Provides the option of being used as ERC-20 tokens.

• Provides better access to the Sticker market.

Is Status a promising cryptocurrency?

Status has many features that are adored by crypto lovers. It can make life easier for everyone and there are chances that people will adopt this technology quickly. An increased adoption for the technology will lead to the value of SNT currency rising.

How to use Status ?

The Status Coin is backed by the Ethereum blockchain and provides a more accessible and secure exchange. You can use them in the following ways.

• Online Payment:

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  This allows you to fulfill online transactions quickly. 

• International Transfer:

  You can quickly transfer digital currencies to various parts of the world without any processing deductions.

• Integrated messenger:

  You can transfer currency on a secure messaging application quickly.

• Selling:

  It allows the user to sell digital currencies to Teller Network.

Pros & Cons of Status

Pros

• • Secure:

    Provides a safe and encrypted messaging platform.

  • Responsive App:

    It is available as both a phone application and a web application.

  • Create users:

    Allows users to create an audience that is not limited by borders.

  • Better Monitor:

    Allows better control and monitoring of the marketplace. 

  • Digital Independence:

    Provides digital independence to the users by using the uPort plugin.           

  • Community-based:

                    It is a platform that is community-based.

Cons

• No Backing:

  Any supporting commodity does not back the SNT coin.

• Pay for Notifications:

  To get push notifications, you’ll have to pay a small fee.

Trade Status on CoinSwitch

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  CoinSwitch provides the user ease to start from small investments, starting from ₹100 only.

• The Status coin can be easily traded, as the SNT coin price is $ 0.08410305577527.

• There is no lock-in period; you can easily withdraw funds anytime. 

• There is no transaction fee. 

• The market prices are constantly updated. Hence, the user gets the best exchange rate.

Status ICO summary

The Status Coin was available for crowd sale in July 2017. It amounted to $99 million within hours, whereas the initial cost was $0.50. The initial cryptocurrency that accepted SNT Coin was the Ethereum token. 

The Token price was kept at 10000 SNT for 1 Eth. The primary role of the token was to increase utility. A total of 120% of the stock was sold, as the ICO only provided stocks worth $90,000,000 but received a response of $107,660,000.

FAQ’s on Status

• Who is the founder of SNT?

Jarrad Hope and Carl Bennets founded the Status (SNT) coin in January 2017. 

• What is the market cap of SNT Coin?

The market cap of SNT cryptocurrency is EUR 278,651,269.

• What is the market rank of Status SNT Coin?

The market rank of SNT is currently situated at 156.

Disclaimer : Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. The information provided in this post is not to be considered as investment/financial advice from CoinSwitch. Any action taken upon the information shall be at user’s own risk.