Bitvavo makes Status as easy as possible. Here are answers to common questions to help you make your first steps in the world of digital assets.
Status (SNT) is a mobile operating system that tries to make it possible to connect your phone to the Ethereum blockchain. Many applications are currently being built on the Ethereum blockchain that can be interesting to use, such as decentralized applications. However, using these applications is not that easy. To simplify this, Status tries to build a mobile operating system that makes it possible to connect your phone with the Ethereum blockchain. As a result, the decentralized applications on the Ethereum blockchain should become more accessible to society.
Status is a mobile operating system that makes it possible to connect your phone with the Ethereum blockchain. For this purpose, Status has developed an application that allows you to access all decentralized applications on the Ethereum network. In this way, the decentralized applications on the Ethereum blockchain are a lot more accessible. Status is therefore already used for the application of payment applications, messenger applications and browser applications.
The Status Network Token belongs to the Status blockchain. Although the Status blockchain is free to use, users must pay Status Network Tokens if they want to use functions within the Status operating system.
Bitvavo makes it as easy as possible to buy digital assets and cryptocurrencies.
1. Sign Up
Create a free account with which you can buy, sell, send, receive and store Status. Access your Bitvavo account from every location, on mobile and desktop.
2. Transfer Funds
Verify your account and transfer Euros to your Bitvavo wallet using one of the 8 supported payment methods.
3. Buy and Trade
Buy or sell over 150 digital assets and pay a maximum trading fee of 0.25%. Store your assets in your Bitvavo wallet or send them to your external wallet.
Storing Status and other digital assets requires a wallet, but don’t worry: Bitvavo’s hosted wallet allows you to store Status without any technical knowledge. Here is a brief overview of the existing wallet options to store your Status:
Hosted Wallet
Hosted wallets are wallets where the private keys to your Status are managed by a third party such as Bitvavo. Access to your account is protected by a password and other advanced security features. Once you are logged in, you can easily and conveniently manage your Status online. Bitvavo offers standard hosted wallets for all digital assets that are offered on the platform.
Software wallet
A software wallet is a program installed on your computer or other device in order to use and manage your Status. Using a software wallet gives you full control over your private keys, so you are not dependent on third parties. The risk is that you alone are in charge of the security of your Status, and if malicious parties have access to your device, your private keys (and therefore your Status) can be stolen.
Hardware wallet
A hardware wallet is a physical device on which you can store your Status offline. It is one of the safest ways to store your Status, because the private keys are stored on a separate and offline device. Access to this device is often protected by a password. In many ways, a hardware wallet can be compared to a safe in which your Status is stored.
You can use Bitvavo's hosted wallet to easily store, send and receive Status. Once you have purchased Status on Bitvavo, you can choose to send your Status from your Bitvavo wallet to your own software or hardware wallet.
