About Status (SNT)

Overview

Status (SNT) is a coin that allows users to "browse, chat and make payments securely on the decentralised web." It is designed to be an "Ethereum Discovery Tool," and it looks to be quite an attractive way of trading working with Ether. There are apps such as "Gnosis" which is "crowd-sourced wisdom" for market predictions; "Ethlance" which id a decentralised job marketplace where people can get paid in cryptocurrency; and "Etherisc" which is an insurance platform where people are paid for claims automatically.

Technology

Status is asking for a community-based focus from both its team and its users. It's marketing, communicates that SNT was/is designed as a socially conscious project, aimed at creating a more connected world through the Ether blockchain. True to this spirit of connectedness, SNT is also accessible to outside development; people can design apps and add them to the official website, for all users to benefit from. The fact that SNT least appears to have a coherent mobile app is also positive - and given that it has only been around since June 2017, there's been significant progress. The actual technical side of things involves it being an ERC-20 token and being able to cohabitate with any other Ethereum based tokens. Any messaging via SNT-based apps is encrypted securely and efficiently, and because its open source, the coin is open to further development and innovation is actively encouraged.

Future Focus

Status is a community-driven project, built together with its users. The team looks to focus resources on the advancement of Web3, their decentralised web. Moreover, Status concentrates on helping early-stage startups looking to reinvent the web by offering legal support, technical mentorship, marketing and PR guidance and funding to a number of startups each month. 'This way forward (...). We've walked the path already - and are happy to show you the way.' For more information regarding Status visit the official webpage.

A wallet is essentially a bank account for your cryptocurrency and the wallet address is like your account number. The sender of the cryptocurrency needs a wallet address so they have somewhere they can send it from their wallet, much like a bank transfer. This wallet is giving you access to the blockchain where you can view your balance, send and receive cryptocurrency.

For information please read our beginners guide to cryptocurrency wallets.

POLI - internet banking

POLI is secure and fast. It links directly to your internet banking – login with your normal details and the rest is easy. No extra fees or surcharges. Watch this short video to see how it works.

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Storing your coins with Wallets

A wallet is essentially a bank account for your cryptocurrency and the wallet address is like your account number. The sender of the cryptocurrency needs a wallet address so they have somewhere they can send it from their wallet, much like a bank transfer. This wallet is giving you access to the blockchain where you can view your balance, send and receive cryptocurrency.

For information please read our beginners guide to cryptocurrency wallets.

Pay with POLI. Its fast!

POLI - internet bankingPOLI is secure and fast. It links directly to your internet banking – login with your normal details and the rest is easy. No extra fees or surcharges. Watch this short video to see how it works.

About Bitcoin

Bitcoin (BTC) is a form of digital currency in which encryption techniques are used to regulate the generation of units of currency and verify the transfer of funds. Transactions are stored on a distributed, immutable, online, public ledger known as a blockchain. Bitcoin was the first truly decentralised cryptocurrency which was created by a programmer under the pseudonym Satoshi Nakamoto and was released in 2009. The system is peer-to-peer, verified by network nodes and recorded in a public distributed ledger called the blockchain. Bitcoin can be exchanged for other currencies, products, and services with over 100,000 merchants and vendors accepting bitcoin as payment. Bitcoin can also be held as an investment. There are only a fixed number of Bitcoin will ever be mined (21 million), it’s not controlled by any one government or central bank, and there’s no such thing as quantitative easing or fractional reserve banking. These qualities make Bitcoin excellent as a store of value and a long-term safe-haven asset, similar to gold.

A Bitcoin success story that went viral on social media is Kristoffer Koch from Norway. Koch invested around $27 in Bitcoin in 2009 and then forgot about it for four years. He remembered about his Bitcoin wallet in 2013, which had then grown in value to $886,000.

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