Buying and selling goods and services in an online environment comes with certain risks. It’s simpler and more convenient of course, but it is also easy to be subjected to credit card fraud, chargebacks, and scams. Transacting safely with cryptocurrencies also comes with its own set of challenges. UTRUST aims to change that with their online payment platform offering an innovative approach to purchase protection.
In addition to safer purchasing, the platform offers a high level of convenience as they accept all major cryptocurrencies. These include Bitcoin, Ethereum, Litecoin, and Dash. There is also a minimal conversion fee, thanks to an advanced analytics process when using these currencies. However, if you pay with UTRUST Token (UTK), there are absolutely no conversion fees.
The platform also covers all purchases of goods and most services with their protection plan.
With more traditional payment platforms, there could be a long wait for payments to be approved, whether it be to combat fraud or whether documentation needs to be submitted. UTRUST approves payments immediately. In addition, funds will be converted to fiat currency almost instantly. This also offers the seller protection from the unpredictability of the crypto market. Sellers will only be charged a flat fee of 1% on any received payments.
By incorporating blockchain technology onto their platform, UTRUST also offers both buyers and sellers anonymity and privacy in their transactions.
On the 25th of August, UTRUST had their private investor sale where they raised $2 million by selling 100,000,000 tokens out their token supply of 1 billion. The Pre-ICO crowdsale was held from the 28th of August and sold 50,000,000 tokens, raising an amount of $1,500,000.
Their ICO is scheduled for the 2nd of November, where a total of 700,000,000 tokens will be available to purchase at $0.065 per token. The goal is to raise $45 million. Contributors will be able to use both BTC and ETH to buy tokens.
Funds raised will go towards the full-time development of the platform, creating events to foster strategic partnerships, and to develop proactive marketing approaches to grow the number of merchants using the platform.
UTRUST is may not be the only online payment platform out there, but it certainly appears to be the most comprehensive, convenient, affordable and customer-orientated (both buyer and seller) one.
From allowing multi-currency purchasing to offering low fees, it seems like it’s on its way to fast becoming the preferred platform.