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UTRUST is a revolutionary payment platform that empowers buyers providing a groundbreaking purchase protection mechanism.
UTRUST is a payment platform that empowers buyers to pay with cryptocurrencies while providing a groundbreaking purchase protection mechanism.The UTRUST Platform aims to provide the consumer protection buyers take for granted in traditional online purchases, acting as a mediator, resolver of conflicts, enabling the possibility of refunds to mitigate fraud, while shielding the merchant from crypto-market volatility. They want to build upon the best features of cryptocurrencies, enabling fast transactions, lower fees and low cross-border transaction friction, enabling merchants to sell to a growing worldwide audience of crypto-holders. In sum, they aim to build the payment API for marketplace integration that will become the crypto-contender to PayPal.
About UTRUST UTRUST ICO will take place in October (day TBA) and will have a duration of 7 days max. It will be a single round event at a fixed price of $0.065 per token. 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. Lower Buyer Purchase RiskWe cover all purchases (both goods and the majority of services). Other traditional solutions such as PayPal only cover the purchase of physical goods. Crypto-based services such as Bitpay do not cover anything at all. Payment Approval Speed Unlike traditional payment systems that most of the times delay the approval of payments due to high risk of fraud, and require submission of countless documents, we approve payments immediately and make the process hassle-free for both parties (buyer & seller). Low Exchange Fees We provide both buyer and seller low exchange fees by using advanced analytics that connects to multiple crypto-currency exchange providers. Services such as PayPal and Bitpay provide extremely high internal exchange rates. Low Seller Fees We will charge sellers a flat 1% fee on received payments. Other services such as PayPal charge a flat minimum rate of 2.9%, but can go above 5% after all “hidden fees” are accounted for. Multiple Crypto Currencies Accepted We accept the most used cryptocurrencies on the market (Bitcoin, Ethereum, Litecoin, Dash Monero and others) covering a wider percentage of the total market cap. Other services such as Bitpay only accept Bitcoin, restricting their market to half of the total market cap. As more tokens are created and added to the market, their captured percentage will only shrink further. Safety of Funds Leverage the power of the blockchain and say goodbye to credit card fraud. You have control over your own private keys and funds, and not even we can access your wallet. Traditional centralized solutions have a poor track record in keeping your funds safe. No Chargebacks Sellers will be protected from rampant credit card fraud and nasty chargebacks, a common occurrence in traditional payment services still reliant on credit cards. Customer Payment Protection Services such as PayPal are well known, and PayPal relies heavily on its buyer/seller protection plan. However, it only covers the purchase of physical goods. Bitpay does not cover any purchases, making the transaction irreversible and leaving you exposed to potential fraud. UTRUST extends consumer protection by covering both physical and virtual (if applicable) purchases. We will guarantee full coverage of all eligible payments made via UTRUST. Resolution of Disputes Timeframe Traditional solutions such as PayPal have a lengthy waiting period of transaction resolutions while they gather evidence on both sides independently (taking up to several months), making it a slow and painful process. We provide both a self-mediated 2-party resolution mode, and an advanced 3-party resolution dispute mechanism, enabling both parties to chat in real time, guided by one of our resolution mediators. We make it quick and easy to sort conflicts. Seller Performance-based Rating We implement a performance-based analytics algorithm to evaluate the performance of sellers, making it so that as the performance of a seller grows, the corresponding hold period on the funds decreases. This mechanism creates a trusted environment, encouraging sellers to perform better over time and increasing buyer confidence. In the best-case scenario, a top seller will see its hold time eliminated, obtaining the funds immediately. Decentralized Token with Index Value UTRUST is not only a payment platform. We will issue our own crypto-currency – the UTRUST token (UTK). You can buy/sell/ send/receive your UTK in the platform, convert it to fiat, other crypto, or simply keep safe in your wallet and see its value grow in synergy with the platform. Transactions using the UTRUST token will be converted internally and benefit of zero exchange fee. UTRUST collected $2 million in Private Investors round. They have also had a successful pre-ICO where they have sold out $1.5 million in just 90 minutes. UTRUST ICO STRUCTURE Team: 10% (50 million) Private investors: 20% (100 million) with 1 year vesting. Pre-ICO: 5% (50 million) ICO: 55% (275 Million) Bounty: 5% (25 million) Total supply: 500 million Max cap: $21.000.000 Million
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