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What is Storiqa (STQ) Coin and How To Buy It?

By:
Swati Goyal
Updated: Aug 8, 2018, 14:08 UTC

Cryptocurrencies are becoming a way of life as more people get to know what they are and what they can do. However, even on more merchants accepting digital currencies as a mode of payment, they are yet to reach a threshold where they will be considered a core means of settling transactions. However, Storiqa is planning to change all this, by focusing on an industry that is at the heart of people’s lives.

Storiqa

What is Storiqa?

Storiqa casts itself as a new generation platform with all the necessary tools needed to create online shops. Unlike other projects looking to make a name for themselves in the ever-growing e-commerce space, Storiqa is leveraging the capabilities of blockchain and smart contracts to set itself apart from the competition.

Storiqa provides sellers and merchants an easy way to set up online stores in under 60 minutes and be able to start trading immediately. Simply put, it is a platform created for buyers and sellers with an easy to use store builder.

Storiqa went live 10 months ago, a period in which it has raised a total of $25 million via a token sale. The company has also attracted more than 55,000 investors and seen its market cap skyrocket to more than $150 million. The marketplace has already released beta MVP version

How to Buy Storiqa(STQ)?

Just like any other cryptocurrency (Bitcoin, Ethereum, Rrpple, etc), Storiqa can be bought in three easy steps via one of the exchanges that offer the coin.

Get Yourself a Digital Wallet: MyEtherWallet

The first step to buying Storiqa requires one to open a digital Wallet that acts as a private bank where any purchased tokens are stored. MyEtherWallet works perfectly well with Storiqa given that fact that it supports ERC20 tokens.

Once you open a MyEtherWallet, it is vital to ensure that issued encrypted private keys are well stored as they act as login keys to the wallet.

Visit Cryptocurrency Exchange

Coinbene and Indodax are the two commonly used cryptocurrencies exchanges.

Once you have bought a substantial amount of Ethereum, be sure to send them to your MyEtherWallet from where you will be able to access them.

Exchanging Ethereum to Storiqa

To complete the process, visit site Idex and create a new wallet by clicking on ‘new Wallet.’ Once you have opened a new wallet, copy the Idex wallet Address and paste it on the Ethereum Wallet and then type the amount of Ethereum you wish to send and then click ‘send.’

Once you click, send navigate to STQ/ETH on the Idex platform and scroll down until you see ‘Buy STQ’ click on it, to complete the conversion process of ETH to STQ. Bought STQ coin can now be transferred to a personal ERC20 wallet which in this case is MyEtherWallet.

Shopping 2.0: Crypto Shopping – Storiqa Features

Storiqa is planning to help businesses streamline their sales processes for the new digital economy with cryptocurrencies and smart contracts. The blockchain powered platform comes with functions that allow vendors to monitor their customer’s activity in a bid to come up with ways to optimize online stores in an effort to meet customer needs.

Businesses will be able to gather, analyze and process customer data through the platform’s built-in tools. Store owners will also be able to receive feedback calls from clients with limited setup time required, thanks to an integrated telephony service.  Owners will also be able to save and playback any recorded calls and be able to monitor the performance of call center managers.

In addition, the marketplace is translated into six languages providing business owners a unique opportunity to expand their customer base by tapping foreign markets.

Storiqa stands out in part because it comes with affiliate marketing tool designed to make it easy for vendors to attract traffic to increase sales. It also comes with a transparent review system that ensures fair trading for all participants in the ecosystem.

In addition, it has support for a multi-currency wallet that makes it possible for customers to use their preferred payment option to complete transactions.

Integration of smart contracts should make transactions in the platform extremely fast and secure. The use of smart contracts will also ensure that money only ends up in seller’s accounts on buyers confirming delivery.

Storiqa Token

STQ is the network’s native cryptocurrency made according to blockchain standards and will be the primary currency within the Storiqa marketplace. Low transaction costs are some of the benefits touted as the reason why people may settle on the coin.

Storiqa conducted a token sale of the STQ tokens early in the year. Any person who purchased the tokens at the ICO is eligible for more profits and bonuses. The starting price of one STQ token at the ICO time was 0.003$

Storiqa Coin Features

Storiqa coin, just a like a good number of cryptocurrencies has a cap on the total number of coins that will ever be in circulation. The maximum supply is pegged at 11,287,544, 272 STQ coins. Currently, there are about 7, 767,544,247 STQ coins in supply.

Storiqa carried out its first Initial coin offering between November 27, 2017, and January 26, 2018. The firm intends to supply 10% to early STQ first purchasers, 15% is to be made available to Storiqa team. The remaining 60% was distributed through the token sale.

The cryptocurrency has a steady supply of coins and accepts both soft and hard coins. One of the digital wallets that the coin is compatible with includes Storiqa Wallet, MyEtherWallet and any Wallet that is ERC20 Compatible as it is an ERC20 token. STQ tokens are to be used for external and internal payments on Storiqa’s marketplace.

Bottom Line

Storiqa is crypto marketplace with the aim of creating a quick-to-setup marketplace for SMEs with minimal financial borders and global transactional fees. Their key features and tools are based on using cryptocurrency and blockchain technology to resolve existing industry problems between buyers and sellers.

About the Author

Swati writes about the cryptocurrency market, blockchain, and particular tokens. Swati Goyal is a Bachelor of Arts degree with more than 5 years of experience in finance and cryptocurrencies. Swati has been specializing in cryptocurrencies and the blockchain technology since 2013 when she first came across with Bitcoin and the crypto market.

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