UTRUST is a payment platform that allows online merchants to accept all major cryptocurrencies as a payment method. Compared to traditional payment methods (credit card, PayPal), UTRUST offers several advantages: lower fees, the security of funds, no chargebacks and comprehensive protection of customer payments.
The distinctive features of the platform UTRUST include the following:
- Decentralized Token with Index. UTRUST is not only a payment platform. The company also issues its own cryptocurrency - the UTRUST token (UTK). It can be bought and sold on the platform, converted to fiat, another cryptographic code, or simply saved in users wallet and see how its value grows in synergy with the platform. Transactions using the UTRUST token, according to the creators, will be converted domestically and have a zero exchange rate.
- Buyer risk reduction. The company covers all purchases (both goods and most services). Other traditional solutions, such as PayPal, only cover the purchase of physical goods. Cryptography-based services such as Bitpay do not cover at all.
- Low exchange fees. The platform provides low commissions from the buyer and seller through the use of advanced analytics, which connects to several cryptocurrency exchange providers. Services such as PayPal and Bitpay provide extremely high internal exchange rates.
UTRUST coin (UTK)
Project tokens can be used to purchase products and services on the platform. If users prefer to pay through UTK tokens, there is no conversion fee. Otherwise a low conversion fee is applied. Each time the buyer pays with any cryptocurrency through the project’s paid platform, the interest rate for the transaction fee will be used to redeem UTK tokens, and these tokens will be burned.
Utrust coin price
The price of UTK tokens depends on how much the conversion fee costs. The project must balance - if the conversion fee is too high, this will become an obstacle for users that affect the adoption of the platform. If the conversion fee is too low, the value of the utility of the UTK tokens will be very small, because users can simply pay with other cryptocurrencies instead of the project tokens.
The price of UTK token or Utrast is always chaining, however, BitcoinWiki gives you a chance to see the prices online on Coin360 widget.
The crowdsale of the project started on November 2, 2017. Basic information on the ICO format:
- UTK tokens are issued on the Ethereum blockchain and have the ERC20 standard
- Base Price 1 UTK = 0.065 USD (6.5 cents)
- Investments are accepted in Bitcoin (BTC) and Ethereum (ETH) cryptocurrencies
- Hard Cap project is 49 million US dollars