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UTRUST ICO Review

09 september 2017, 20:12

Have you ever looked at your digital wallet and thought to yourself that there are so many tokens in there, but if you really wanted to use them most of the time you'd have to go through exchanges and bank wires and it would take a lot of time before you can pay for anything in fiat currency? Well, there is a quite brave platform that wants to become sort of a PayPal in the cryptocurrencies world. You could pay almost directly for all goods you purchase on various marketplaces on the Internet. Wouldn't it be convenient if at the check-out on the Amazon among the payment methods you could see a platform that allows you to use most popular cryptocurrencies and not only bitcoins?

 

UTRUST ICO Review

 

General Idea

UTRUST aims to bring the ''future of online payments'' with their platform. They are a revolutionary in terms of online payments, as they will allow buyers to pay with cryptocurrencies.

And the sole introduction of cryptocurrencies can become the recipe for success, as the digital world is developing at very rapid speed and we need to prepare for the future when it hits the mainstream markets.

 

Crypto to fiat

The idea is simple and straight-forward. You can use your favourite major cryptocurrency and you are not limited only to bitcoin (as it often happens in most of services of this kind). They will be automatically and immediately converted into chosen fiat currency, so that there are no chances that the market volatility and price fluctuations will charge your more money. Then the seller or the marketplace gets the money in fiat currency and can without any problems withdraw it to their normal bank accounts, leave on the platform or convert into cryptocurrency.

This way you will be able to buy anything on the mainstream marketplaces almost directly with your cryptocurrencies, making them finally usable, as what is the point of having for example bitcoins if all they do is being traded on the exchanges, but there are no means and facilities to use them? People tend to forget that these digital coins and tokens are indeed cryptoCURRENCIES and are aimed to be used. UTRUST finds a way to put them easily to use in mainstream world.

 

UTRUST ICO Review

 

Protection of sides

Not only do they want to become a payment platform but they also want to strongly focus on the safety of transactions. UTRUST introduces means so that both buyer and seller can feel confident about the transaction.

First of all, the sole fact that everything will be based on the blockchain technology makes it already significantly transparent and safe for all. There is no way someone will rig or fraud the blockchain as it often happens with credit cards. Another problem with credit cards based payments are the chargebacks, thankfully sellers are also protected against these on this platform.

UTRUST covers all purchases. Not only physical goods like PayPal does for example, but also majority of services and digital agreements. They want to act as a trusted mediator and help resolving any conflicts between buyer and seller and make sure any refunds in these situations are possible in a way that none of the sides lose any money.

Thanks to the blockchain technology the most significant drawback of such platforms is solved, as there won't be anymore situations where because of high operational fees the product has to be more expensive for the buyer and the seller gets lower profits when the fees are subtracted. It used to happen with all the fiat transactions, platforms and banks taking their part. The fees are put to the bare minimum and will mostly consist of mining fees of the chosen cryptocurrency. Moreover, when paying with UTRUST tokens on the platform there won't be any fees at all.

 

Initial Coin Offering

The ICO phase starts at the 20th of September, 2017. It will consists of few rounds and the price of the token will raise with every round, starting at $0.04 per UTRUST token, which is a standard ERC-20 type and can be stored in most Ethereum wallets.

The first two rounds of pre-ICO and private investors distribution has successfully ended and were sold out. This shows that there is a high demand in UTRUST. Their maximum crowdsale cap is 50 million dollars.

 

UTRUST ICO Review

 

The team and their approach

At the first glance through FAQ section and whitepapers you can easily realize that the developers of this project care for transparency. They are willing to explain anything as much as possible and answer every questions. That is a really good sign, especially in this field as the user will have to trust them with their money, and they are building this trust already at this early stage.

First of all, the team is very wide and diversified in terms of skills. There are people to overcome any problem that may occur in developing and operating this kind of project. Everyone is traceable and provides their contact info, socialmedia page or linkedin. Their have various skills experienced in programming and developing matters as well as the sole operation in financial fields.

 

UTRUST ICO Review

 

UTRUST tokens as an investment

Almost 15 years ago, PayPal went public and offered their initial shares for $13, now when they are the biggest payment platform, known and used by everybody, the shares are worth around $60 per one. It means that you had to wait 15 years to cash out a profit of only four times of your initial investment. Now the times have changed. Successful ICO projects are jumping in price 1000% in a matter of months. Some people believed in PayPal years ago and internet payments were indeed the future. Now as the cryptocurrency revolution is going around, another platform is needed. You can buy UTRUST tokens and become and ordinary holders that will later sell them on exchange when the price raises, but it seems convenient to buy these tokens to support creation of such platform, so that we can also enjoy buying things in mainstream fiat-based shops so easily with various cryptocurrencies. It looks like whatever tactic you will choose, there will still be some benefits of this investment.

 

Risks and competition

Any platform that aims to join the market where there are already big and known companies is at some kind of risk. It's like, if out of a sudden a new search-engine has been developed who would really abandon Google? When it comes to UTRUST however, even though the idea of payment platform is already successfully executed by for example PayPal, the cryptocurrency market is becoming bigger and bigger every day. You can see for yourself the market cap and the amount of transactions with different coins. There is indeed a need for such platform that would solve the problem of buying things with cryptocurrencies and make it easy to buy at mainstream and fiat-based marketplaces.

 

For any further thoughts and information as well as numerous small reviews and ratings made by our users, you can check out UTRUST page here at TokenTops.

 

Links:

https://utrust.io/

Whitepapers

https://twitter.com/UTRUST_Official

https://www.reddit.com/r/UTRUST_Official/

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