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How to buy Status (SNT) in Hong Kong
Learn how to buy Status (SNT) on 13+ crypto exchanges in our step-by-step guide.
You can buy Status (SNT) on a cryptocurrency exchange like Binance. These specialised marketplaces that allow you to buy and sell cryptocurrencies, and work similar to stock trading platforms. Status is a mobile Ethereum operating system with a mission to bring Ethereum to the masses. Here's how to buy Status.
How to buy Status in 4 easy steps
The whole process can take as little as 15 minutes and all you'll need is a smartphone or computer, an internet connection, photo identification and a means of payment.
- Compare crypto exchangesThe easiest way to buy Status is from a cryptocurrency exchange. Comparing in the table below lets you find one with the features you want such as low fees, ease of use or 24-hour customer support.
- Create an account To create an account on an exchange, you will need to verify your email address and identity. Have some photo ID and your phone ready.
- Make a depositOnce verified, you can deposit $ using the payment method that best suits you – bank transfer, cryptocurrency, ideal and PayPal payments are widely accepted.
- Buy Status You can now exchange your funds for Status. On easier-to-use exchanges, this is as simple as entering the amount you want to purchase and clicking buy. If you like, you can now withdraw your Status to your personal wallet.
Where to buy Status in Hong Kong
Find an exchange to buy, sell and trade SNT by comparing deposit methods, supported fiat currencies and fees. Select Go to site to sign up directly with the provider.
How do I find the best places to buy Status?
Cryptocurrency exchanges offer similar services, but differ in a few key ways – mainly fees, the range of cryptos available and payment methods. You can use our table to compare the features of popular cryptocurrency exchanges available in Hong Kong to help you choose the one that's right for you.
Some other factors you may want to consider are customer support, user reviews, ease of use and whether or not the exchange is registered with a local regulator. This information can be found by clicking on the exchange name in the table which will take you to its review page.
What will I need to buy Status?
To create an account on any cryptocurrency exchange you will need an email address. Some exchanges may also ask for a phone number and photo ID, so it's a good idea to have those ready.
An increasing number of cryptocurrency exchanges will ask to verify your identity before you can deposit funds and start trading Status.
- This process is known as Know Your Customer (KYC) and usually requires photo ID and a webcam or smartphone. You may also need to prove your address by uploading a copy of a recent bank statement or utility bill.
- Some exchanges allow you to deposit and trade cryptocurrencies without passing KYC, but they will not allow you to transfer local currency from your bank account. So if you are planning on purchasing SNT with your local currency then you will need to pass KYC.
- Once you have verified your identity, it is a good idea to enable 2-factor authentication (2FA) before depositing any funds. This will increase the security of your account and help keep your funds safe.
Where can I buy Status with a credit or debit card?
Once you've created an account, you will need to deposit funds to buy SNT with. You can either deposit local currency from a bank account or credit card, or transfer cryptocurrency from another exchange or wallet. Here are popular deposit methods to buy SNT on the following exchanges:
- Bank account: Transfers from local bank accounts are usually free, but you will need to double-check this with the exchange you choose – this information can be found in our table by clicking on 'view details'.
- Credit or debit card: Linking a card to your account is another convenient way to top up your account, but be aware that it usually attracts an additional fee. An advantage, though, is that you can use a card to make instant purchases or set up a recurring purchase.
- Cryptocurrency: You can usually purchase SNT by trading it for another cryptocurrency like Bitcoin or a stablecoin. This varies between exchanges though, so you will need to search for SNT on the spot market to see what cryptocurrencies it can be traded for.
What is the easiest way to buy Status?
The easiest way to buy SNT is by placing an 'instant buy' order to purchase it for a fixed price but not all crypto exchanges offer this feature.
Alternatively, you can open a trade on the spot market which allows you to set your own price – this is the most common way to purchase cryptocurrency. Using the instant buy feature is straightforward but typically more expensive than using the spot market.
Before buying SNT, you may want to check the market conditions. To help you decide if now is the right time to buy, you can take a look at our Analysis tools to get an idea of how the price of Status has been performing recently.
Best Status wallets to store your SNT
You can keep your SNT on the exchange you purchased it on, or move it to a personal wallet:
- Some people like to use their own wallets to guarantee total ownership over their assets, or to use them with other applications like DeFi services.
- Hardware wallets are typically considered to be the safest type of cryptocurrency wallet, as they use a physical device to enhance security in a number of ways. You can learn more about wallets and compare them with our comprehensive guide.
Is Status a good investment?
Cryptocurrencies are highly speculative assets, so it is important to perform due diligence before investing. If you’re thinking of buying SNT, remember to consider the following:
- dApp availability. A significant portion of the Status platform's use-case (and ensuing popularity) is determined by the dApps hosted on the network. The more high-profile applications available on Status, the more popular the platform is likely to be. You can keep up-to-date on the partnered dApps on the Status website. Anybody can register dApps on Status.
- Competition. Status is not only competing with smartphone-based IM services on the blockchain, but those on the regular web too. This includes Facebook Messenger, WeChat, WhatsApp, Kik and many others. Then, Status is also competing with app stores like the Google Play and iOS store, which also provide applications to a device. Not only do these companies have much greater brand recognition, they also have millions of apps available for download.
- Push notification payment. A key element of the Status ecosystem is reconfiguring how push notifications are stored and sent on a decentralised system. For a user to receive a decentralised push notification, they must either make a microtransaction or view an advertisement. This is a rather large hurdle to overcome, given that the vast majority of push notifications from centralised applications are free. This may significantly impact levels of adoption among regular social media users.
Additional information about Status can be found using our SNT analysis tools.
Today's Status price versus ATH
Compare today's price of Status ($0.02944997 USD) against its all-time-high price of $0.684918 USD on 03 January 2018. The closer the bar is to 100%, the closer SNT is to reaching its ATH again.
ATH date: January 03, 2018
Status ATH: $0.684918
How to trade, convert or sell StatusYou can convert or sell your SNT with the same exchange you bought it through:
- Sign in to the exchange you have SNT on.
- If you store your Status in a digital wallet, compare crypto exchanges to convert or sell it on.
- Choose Sell or Convert and place a sell order.
- Choose the amount of SNT you'd like to convert or sell.
- Confirm the sell price and fees and close your sale of Status.
- Complete your transaction and move your SNT to a wallet for storage.
Disclaimer: Cryptocurrencies, including Status, are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance of SNT is no guarantee of future performance. Consider your own circumstances, and obtain your own advice, before relying on this information. You should also verify the nature of any product or service (including its legal status and relevant regulatory requirements) and consult the relevant Regulators' websites before making any decision. Finder, or the author, may have holdings in the Status or any other cryptocurrency discussed.
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