Minimizes the risk of scams and fraud by providing a full payment protection and acting as a 3rd party mediator with the help of utrust.
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What is UTRUST?
UTRUST is a revolutionary payment platform that lets buyers use their favorite cryptocurrency to pay for sellers (private merchants or merchants), this is so cool is not it? There’s more!
UTRUST provides sellers with the security and convenience to receive funds in paper currency, and offers consumers the best protection to the buyer, acting as a trusted mediator. We combine the best payment protection features of the current generation fiat system with innovative features from blockchain and blend unique features provided by our own token.
How UTRUST works?
Utrust advocate full transparency, so if you don’t see your questions answered on our FAQ, please Write Us
Payment Mechanism:
Buyer
Pays with any major cryptocurrency, with a low conversion fee, or with UTRUST Token with zero conversion fee.
Convert to fiat
Funds are immediately converted to fiat currency in order to protect the seller from market volatility.
Dynamic holding
UTRUST holds the funds and releases to seller, adjusted on a performance-based timeframe.
Seller
Receives in fiat currency and can withdraw to a bank account, keep it in wallet or convert it to other cryptocurrency.
The safest payment platform.
Period.
The UTRUST Platform is a payment processor solution that enables merchants to accept multiple cryptocurrencies from buyers as payment methods while receiving in fiat currency.
What are the Benefits of UTRUST?
For Buyer — Minimizes fraud and fraud risks by providing full payment protection and acting as a third party mediator. We protect your purchase from the time you pay until delivery!
For Seller
Utrust advocate full transparency, so if you don’t see your questions answered on our FAQ, please Write Us and we’ll get back to you.
UTRUST Features And Benefits
Overall, UTRUST’s features claim to make it “the safest payment platform in the world” for both buyers and sellers. Some of the advantages UTRUST claims to have over other payment platforms include:
Lower Buyer Purchase Risk:
UTRUST covers all purchases (goods and most services), while traditional solutions like PayPal can only protect the purchase of physical goods. Cryptocurrency-based services like Bitpay don’t cover anything at all.
Faster Payment Approval Speed:
Unlike traditional payment systems that delay the approval of payments due to the high risk of fraud (not to mention requiring the submission of countless documents), UTRUST approves payments immediately, making the process hassle-free for both parties (the buyer and seller). Obviously, Bitpay offers similar advantages but PayPal does not.
Low Exchange Fees:
Nobody likes paying fees on money they’re making. UTRUST charges sellers a flat 1% fee on received payments. Meanwhile, services like PayPal charge fees of 2.9%. Those fees can rise to 5% or higher when accounting for exchange rate fees and other hidden charges.
Multiple Cryptocurrencies Accepted:
UTRUST accepts the most popular cryptocurrencies on the market, including bitcoin, Ethereum, Litecoin, Dash, Monero, and others. Bitpay, on the other hand, only accepts bitcoin, and PayPal doesn’t touch cryptocurrencies at all.
Fund Safety:
UTRUST claims to leverage the power of blockchain to avoid credit card fraud. Users have full control over their own private keys and funds. Not even UTRUST can access your wallet. Meanwhile, services like PayPal are notorious for locking your funds, and they have a poor track record of keeping users’ funds safe.
No Chargebacks:
Sellers will be protected from rampant credit card fraud and nasty chargebacks through UTRUST. However, the website doesn’t go into much further detail about this process.
Customer Payment Protection:
Customers’ payments are protected through a fast, self-mediated two-party resolution system, and an advanced 3-party resolution dispute mechanism if the first isn’t successful. This allows parties to chat in real-time guided by a UTRUST resolution mediator. In comparison, PayPal can take several months to solve a dispute.
Seller Performance-based Rating:
UTRUST implements a performance-based analytics algorithm to evaluate the performance of sellers. The idea behind this is that a transparent and honest seller should rise to the top, while low-quality sellers will disappear. Furthermore, top sellers will see their hold times virtually disappear, while low-quality sellers will see increased hold times.
UTRUST encourages customers to compare it to popular payment processing platforms like PayPal and Bitpay. They go into further detail about their comparison on their site.
The UTRUST Token
UTRUST’s token, UTK, is a cryptocurrency designed for the UTRUST ecosystem. You can buy, sell, send, and receive UTK in the platform. You can convert it to fiat and other cryptocurrencies or keep it in your wallet to see its value grow with the platform.
Transactions that use the UTRUST token will be converted internally and benefit from zero exchange fees.
The UTK pre-ICO is scheduled for August 28 at 4pm GMT. A total of 1 billion UTK tokens will be released. They’re ERC20-compliant tokens based on Ethereum. You can purchase the tokens using BTC or ETH.
The public ICO will take place later in September, although UTRUST has not yet revealed a date. Purchase bonuses are available throughout the sale.
Official links
Website : https://utrust.io/
Whitepaper : https://s3-eu-west-1.amazonaws.com/utrust/UTRUST-whitepaper-v1.0.1.pdf
Facebook : https://www.facebook.com/utrust.io/
Twitter : https://twitter.com/utrust_official
Bitcointalk Profile Link : https://bitcointalk.org/index.php?action=profile;u=16578