Storiqa (STQ) Analysis

Market Cap

$42,775 USD

Volume (24h)

$73 USD

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2.9

SAFETY

Ranking factors:

Markets

How many exchanges are there to trade this coin?

Storiqa Markets Rank: 4/100
Volume Ratio

How actively is this asset being traded on the market?

Storiqa Volume Ratio Rank: 1/100
Market Cap

The total cost of all coins available.

Storiqa Market Cap Rank: 61/100
24h Change

Is the price moving up or down?

Storiqa 24h Change Rank: 51/100
Social Following

How many users are following this coin?

Storiqa Social Following Rank: 87/100
Google Trends

How many users are searching for the coin?

Storiqa Google Trends Rank: 10/100
Twitter Citation

How many users are talking about this coin in Twitter?

Storiqa Twitter Citation Rank: 1/100
User Voting

How popular is this coin among Cointobuy community?

Storiqa User Voting Rank: 65/100

Storiqa investment analysis

Storiqa is a project that plans to implement a blockchain based marketplace. Potential store owners will pay a "subscription fee" by way of 18,000 STQ tokens per year. Their Storiqa investment affords them the same luxuries offered by something like Shopify which provides easy to build shops and plugins to make life easier.

However, STQ has some more up their sleeve. They plan to offer these store owners the full suite of tools and resources they need for expansion which includes help in marketing their products, and even 24/7 customer support tools that record calls.

Investors should keep in mind that bringing a marketplace such as this to the mainstream is no easy task. Even with a fantastic team and a massive marketing budget, getting people to adopt new platforms like this can be hard. The token supply for this asset is also enormous, and that means that it could be some time before you see any significant price appreciation.

How to buy?

$0.000004

by Safety

by Profit

How to buy Storiqa?

The number of exchanges where investors can buy Storiqa is decent, and there's several good options here. There's a few options for trading pairs, and the liquidity is spread fairly evenly, making it easy to execute a trade in multiple places. Investors can take advantage of pairings for Bitcoin, Ethereum or US Dollar Tether.

This is an Ethereum based asset, and that means that you'll need a compatible ERC20 token wallet to store your investment. There's a ton of great options here, and this will mostly be up to your personal preference as to which one you choose. Some popular choices with other investors include Meta Mask for browsers, Coinomi for mobile devices, and Ledger if you'd like to utilize a hardware wallet option for extra safety. No matter which wallet you choose, make sure to create a backup of your wallet in a safe place. If your device is lost, stolen or damaged this will be the only way to regain access to your assets.

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While our Storiqa analysis seems interesting on the surface, investors should be aware exactly how hard it is to grow a marketplace such as this. It can take years for a platform to generate a significant user base if they ever do.

While the platform does offer some interesting incentives, the fact is that other providers which don't require a token do much of the same things. If these businesses are interested in hosting their own store they can do so on Shopify, which already has plenty of plugins to help with advertising or even accepting cryptocurrencies.

Based on their target market, it's unlikely these providers will want to adopt a new platform with no traffic. They will instead stay on etsy or eBay where they are making sales. People already hate eBay's atrocious policies towards sellers, but they are one of the biggest marketplaces, and so they take it. Unless that changes, they will be unlikely to jump ship.

If you're looking to invest in STQ, it might be best to ask yourself whether this project really needs a token. There are already many other projects looking to do the same thing, and they don't require using a new token that would otherwise not be utilized. This includes Open Bazaar, and even Bitify, who includes an arbitration service to keep sellers honest, one of the main features of STQ.

While Storiqa offers a few other perks such as cash back, and the ability to earn from reviews, it seems unlikely that mainstream users would be interested in adopting this platform when there are other options already solving most of these problems. This leaves STQ with a chicken and egg type of dilemma where they can't get customers without businesses, and they can't get businesses without customers.

The company has also angered a good number of cryptocurrency enthusiasts after a botched ICO release which suddenly imposed KYC procedures after the ICO, leaving many US customers in limbo where they would be forced to verify or abandon their assets. This reputation could be quite persistent, effectively alienating their main user base which could cause them much trouble.

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