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Reasons to Buy Status

• – It utilizes Whisper V5 protocol to delegate nodes and support a decentralized chat.
• – It supports ERC-20 & ERC-721 tokens compatible with the Ethereum blockchain.
• – SNT is the native cryptocurrency of the Status ecosystem.
• – It has a market capitalization of more than $350 million.
• – It has a circulating supply of more than 3 billion SNT coins while there is no cap on maximum supply.

Status was launched in June 2017 and was able to raise a massive $99 million in its ICO (Initial Coin Offering). The investors received 10,000 SNT coins for 1 ETH.

It started with the aim of changing the way how digital communication works. As the popular messaging applications are built on a centralized server, Status solves the issue by providing a P2P open-source messaging platform to send and receive encrypted messages. It also allows users and developers to interact with Ethereum Dapps and works much the same way as Play Store. Status is also used for making payments and utilizing smart contracts.

Things to consider before buying Status

• People can access the Status app for P2P payments and encrypted P2P communication.
• It works on a P2P (Peer to Peer) mode and decentralizes the way social messaging works.
• It allows users to access Ethereum Dapps quickly and efficiently. At present, it hosts more than 2000 Ethereum Dapps.

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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.