STU Privacy & Security
SOME THINGS YOU NEED TO KNOW
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If you are about to explore bitJob, there are a few things you should know. bitJob lets you exchange money in a different way than with usual banks. As such, you should take time to inform yourself before using STU tokens for any serious transaction. STU tokens should be treated with the same care as your regular wallet, or even more in some cases!
bitJob’s MULTI-SIGNATURE
bitJob also includes a multi-signature feature which allows STU tokens to be spent only if a subset of a group of people authorize the transaction. This can be used by a board of directors to prevent unapproved expenditures, as well as track which members approved each payment.
SECURING YOUR WALLET
Like in real life, your wallet must be secured. bitJob makes it possible to transfer value anywhere in a very easy way and it allows you to be in control of your money but every technology has security vulnerabilities.. With that being said, bitJob provides a very high level of security if used correctly. Always remember that it is your responsibility to adopt secure online practices in order to protect your money. Read more about securing your wallet.
STU tokens PAYMENTS ARE IRREVERSIBLE
Any transaction issued with STU token cannot be reversed — they can only be refunded by the person receiving the funds. That means you should take care and do business with people and organizations you know and trust, or who have an established reputation and on their end, businesses need to keep control of the payment requests they are displaying to their customers. STU token can detect typos and usually won’t let you send money to an invalid address by mistake. Additional services might exist in the future to provide more choices and protection for the consumer.
STU token Privacy
Some effort is required to protect your privacy with STU token. All STU token transactions are stored publicly and permanently on the Ethereum Blockchain, which means anyone can see the balance and transactions of any STU token address. However, the identity of the user behind an address remains unknown until an event occurs where the person can be identified as the owner of the account such as posting their Ethereum address publicly. Always remember that it is your responsibility to adopt good practices in order to protect your privacy. Read more about protecting your privacy.
UNCONFIRMED TRANSACTIONS AREN’T SECURE
An STU token transaction is usually deployed within a few seconds and begins to be confirmed in the following 10 minutes. During that time, a transaction can be considered authentic but still reversible. Dishonest users could try to cheat, which means there is a risk when accepting unconfirmed transactions. For large amounts like $1000 USD, it makes sense to wait for 6 confirmations or more. Each confirmation exponentially decreases the risk of a reversed transaction.
STU token IS STILL EXPERIMENTAL
STU is an experimental new currency that is in active development. Although it becomes less experimental as usage grows, you should keep in mind that STU is a new invention that is exploring ideas that have never been attempted before. As such, its future cannot be predicted or guaranteed by anyone. With that being said, the potential of this currency is obvious.
GOVERNMENT TAXES AND REGULATIONS
Although STU is not an official currency, most jurisdictions still require you to pay income, sales, payroll, and capital gains taxes on anything that has value, including STU tokens. It is your responsibility to ensure that you adhere to tax and other legal or regulatory mandates issued by your government and/or local municipalities.
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The bitJob team.
Be the movement!
Stay tuned and follow us! https://bitjob.io/
Our Slack channel: https://bitjob-slack-invite.herokuapp.com/
Our Telegram channel: https://t.me/bitjob
Our Twitter channel: https://twitter.com/BitJob_Team
