Status PriceSNT

It is a decentralized cryptocurrency that operates as a messaging platform. It can be operated by both mobile and desktop.  Carl Bennetts and Jarrad Hope were the ones behind this crypto coin. They brought this into being in June 2017. It was created with the aim to: 

1. Send and receive encrypted messages
2. Use decentralized applications
3. Work in coordination with digital crypto wallets. 

Being an Ethereum node it can access the ETH DApps. To provide good control and accessibility that are built on P2P technology. 

Features of Status (SNT)

Below mentioned are some of the features of this digital currency that distinguish it from the other cryptocurrencies in the crypto ecosystem.

• Data Security 

It has an encrypted messaging platform. This makes sure that the data of the users are completely secure. 

• Small Investment Possible 

Unlike other digital currencies, This network allows small investments. Therefore, users who want to start with a small investment can also be a part of the crypto world. In other words, they need not do bulk Investment.

• No Middleman

Since this cryptocurrency is a decentralized network it has eliminated the middleman like banks and other financial institutions. This avoids the charges that they might have levied for transacting on their platform. 

• No Transaction Fees

This crypto coin does not even charge any fees to make transactions on its platform. This makes it one of the best options for cross-border transactions. 

• Community-based 

This network is a community-driven one. Moreover, it is very active and plays a vital role in its working and decision-making. 

User Cases of Status (SNT)

There are several use cases that this token provides which are spread across different industries. Listed below are such use cases:

• E-commerce 

Due to its fast transaction ability, it is best suited for many e-commerce payments. Many E-commerce platforms have started accepting this digital currency as their medium of payment. 

• Cross-border Payments 

As there are no transaction fees involved with this coin it has become the best option for international payments. This has made cross-border transactions hassle-free on the coin’s system. 

• Secure Messaging Platform 

This digital currency provides an encrypted messaging platform. The best part about this platform is that it helps in the transfer of digital currencies with the help of secured messaging applications. 
 

How to Buy Status Coin?

Those who are looking forward to investing in this cryptocurrency can follow these few steps to buy this digital coin: 

• Find the Best Crypto Exchange 

Search for a well-known crypto exchange that supports this token.

• Account Creation 

Once you find the exchange, create an account with this exchange. 

• Funds Deposit 

Complete the necessary verification process and deposit funds into your account. 

• Purchase Coins 

Place a purchase order for the required amount of coins and wait for your purchase transaction to get verified. 

• Deposit in a Secured Wallet

When the coins get deposited into your account transfer them into secured wallets for better safety. 
 

Risks and Challenges Faced by Status (SNT)

Every cryptocurrency comes with some kind of risks and challenges involved with it. Below listed are some of such risks that should be considered before making an investment decision:

• Volatility 

Price fluctuations are a part and parcel of any cryptocurrency. They are one of the common risks that all cryptocurrencies face. Due to its highly volatile behavior, it becomes a very unconditional investment. Every investor should be prepared for the sudden drastic changes in prices. 

• Regulatory Challenges 

The regulatory environment that surrounds the cryptocurrency ecosystem is in its developing stage. Every country’s government has a different opinion about digital currencies. In fact, there are many countries that have banned its use like Saudi Arabia and China. This makes the future of cryptocurrencies uncertain.

• Competition 

Every digital coin in the crypto world is constantly competing with each other to acquire a prominent position and maintain it. This coin has to not only fight for survival against the new cryptos but also against the crypto giants in the ecosystem.  

Future Outlook of Status 

This coin’s aim is to enable its users to send and receive encrypted messages. Moreover, it is extremely compatible with the digital crypto wallet. Due to the above reasons, it is likely that this digital currency will have a great future ahead. On top of that, it has some unique features and a commitment that actively take part in its work. This will further help this network to gain traction as well as widespread adoption. 

FAQs 

Who Are the Founders of Status?

Carl Bennetts and Jarrad Hope are the founders of this digital currency. They used to run a software distribution company and later decided to come together to create this coin.

How Many Status (SNT) Coins Are There in Circulation?

There are in all 3,470,483,788 SNT coins circulating.

Which are the top crypto exchanges for trading of Status?

Below are some of the crypto exchanges for trading SNT

• Bittrex
• OKEx
• BiONE
• Bithumb

Conclusion 

Being an Ethereum node it has access to all the DApps. With its features, community, and its goal of providing a platform for sending and receiving of encrypted messages it can be said that this coin can become a prominent player in the cryptocurrency market. 

We have done extensive research to create this content piece. In a similar fashion, we would encourage you to understand every pro and con related to this cryptocurrency before you consider investing in it.