Most online users have been burned by PayPal or another digital payment system at one time or another. Maybe you have tried to withdraw money that someone sent you, only to find that you have been blocked from this service. Or maybe you have tried to receive money, only to discover that the fees can be quite high once you start using other services. And, the biggest sin of all – PayPal does not accept cryptocurrences.
UTRUST, the first payment platform based on Blockchain, intends to bring the best parts of PayPal-type services and the best parts of the cryptocurrency world together in a unique and transparent platform.
Blockchain solutions limited
The world of cryptocurrency has virtually exploded in the last six months. Just ask someone who bought Bitcoin in January at $ 800, only to find their investment worth an incredible $ 6,000 just last month. And yet, the growth of the industry has exceeded the functionality.
For example, payments between individuals are still fairly simple, but the reality of real-time business-to-consumer (B2C) transactions has been extremely difficult.
A number of problems are at the root of the malfunction. First, the daily price of the majority of cryptocurrencies is extremely volatile. Volatility scares future merchants who find themselves unable to cope with the huge and sudden loss potential immediately after the transaction.
Moreover, the number of cryptocurrencies available has left most merchants scratching their heads at the level of technology needed to really enter the market. And to top it off, the transactions are irreversible, which makes all sales final and returns enormously risky for both parties. Buyer protection is debatable, and seller protection is as good.
Crypto + PayPal = Awesome
Of course, these two opposing systems (crypto and traditional) refuse to work together, and thus serve only to highlight the inherent weaknesses of both. However, UTRUST, a Blockchain-based start-up, designed a system that would unite these two systems into a single, protective platform.
On the buyer side, UTRUST offers complete buyer protection, similar to the PayPal market. By offering protection, buyers can buy without the usual crypto-risk, which brings more buyers into the crypto world. By accepting a wide range of cryptocurrencies, UTRUST has eliminated speculation about wallets and coin exchanges, allowing buyers to focus on what they do best: buy.
UTRUST has created a platform that eliminates problem volatility by moving the crypto payment into the fiduciary currency at the time of the transaction. Traders can be completely protected against volatility and because UTRUST is truly peer-to-peer, the fees are greatly reduced. Per Nuno Correia, CEO of the company:
& # 39; & # 39; UTRUST is the world's first cryptocurrency payment solution that offers buyers purchase protection. The next-gen version of PayPal is Blockchain-based and designed to make online payments safer, faster and cheaper.
Hoist by their own petard
many times, the very thing that makes you successful becomes your loss. This will probably be the case with PayPal. While their functionality was unique in the beginning, the changing business world shifted to new and better platforms.
By completely eliminating the risk factors for the buyer and the seller while opening the door to cryptocurrency payment structures, UTRUST will solve the problems that affect both platforms. A full explanation of their platform can be found here.
The ICO token of the UTRUST begins on November 2 at 2 pm. (UTC). The ingenious platform has already brought investors to the table and UTRUST has completely sold the private investor and pre-ICO sales, raising $ 3.5 million. The upcoming public sale represents 70% of the symbolic bid.
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