Utrust

Utrust

Created using Figma
Created using Figma
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.
  • Market
    Pair
    Price
    Volume 24H
    24H (price)
    24H (volume)
  • KuCoin
    UTK/BTC 41 minutes ago
    $ 0.0223
    $ 4.165 K
    5.32%
    32.26%
  • KuCoin
    UTK/ETH 41 minutes ago
    $ 0.0223
    $ 3.423 K
    6.69%
    177.51%
  • Huobi
    UTK/BTC 47 minutes ago
    $ 0.0223
    $ 33.168 K
    7.25%
    -12.50%
  • Huobi
    UTK/ETH 47 minutes ago
    $ 0.0223
    $ 35.158 K
    7.54%
    2.53%
  • LATOKEN
    UTK/ETH 47 minutes ago
    $ 0.0139
    -
    8.82%
    -
  • OKEx
    UTK/USDT 49 minutes ago
    $ 0.0222
    $ 15.505 K
    6.92%
    -29.07%
  • HitBTC
    UTK/BTC 3 hours ago
    $ 0.0223
    $ 158.20
    -
    -
  • HitBTC
    UTK/USD 5 hours ago
    $ 0.0274
    -
    -
    -
  • HitBTC
    UTK/ETH 5 hours ago
    $ 0.0224
    $ 20.15
    -
    -
  • Ethfinex
    UTK/ETH 8 hours ago
    $ 0.0203
    $ 10.12
    -
    -
  • Idex
    UTK/ETH 23 hours ago
    $ 0.0223
    $ 35.32
    -
    -
  • Ethfinex
    UTK/USD one day ago
    $ 0.0189
    $ 126.08
    -
    -
  • Ethfinex
    UTK/BTC 2 days ago
    $ 0.0234
    $ 107.35
    -
    -
  • ForkDelta
    UTK/ETH 9 days ago
    $ 0.0165
    -
    -
    -
  • Orderbook.io
    UTK/ETH 24 days ago
    -
    -
    -
    -
  • Orderbook.io
    UTK/OUSD 24 days ago
    -
    -
    -
    -
  • Orderbook.io
    UTK/OBTC 24 days ago
    -
    -
    -
    -
  • Everbloom
    UTK/ETH 26 days ago
    $ 0.0229
    -
    -
    -
  • Bitfinex
    UTK/USD
    -
    -
    -
    -
  • Bitfinex
    UTK/BTC
    -
    -
    -
    -
  • Bitfinex
    UTK/ETH
    -
    -
    -
    -
  • Fcoin
    UTK/ETH
    -
    -
    -
    -
  • Fcoin
    UTK/USDT
    -
    -
    -
    -
Nov 2, 2017
Nov 20, 2017
100% completed
$21 375 000
cap
goal
42% goal completed
Goal 50 000 000 USD
Cap 50 000 000 USD
past
  • 1 UTK
    =
    0.065 USD
Sep 20, 2017
Oct 30, 2017
100% completed
Raised funds - no Data
past
Token Details
Ticker
UTK
Accepted Currencies
ETH, BTC
Company Details
Registered Country
Switzerland
Additional Details
Platform
Ethereum
Categories
Platform, Cryptocurrency, Software

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 Risk
We 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

Features

UTRUST is a payment platform that enables buyers to use their preferable cryptocurrency in order to pay sellers (private or merchants). Service provides sellers with the safety and convenience of receiving funds in fiat currency, and offers consumer-protection to buyers, by acting as trusted mediators. Service combines payment protection features of fiat systems with the features of blockchain.

Utrust Roadmap

  • 28th Aug 2017

  • Pre-ICO Opens
  • Pre-ICO Opens

  • Sep 2017

  • ICO Opens
  • ICO Opens

  • Read More
  • Q2 2018

  • Platform Test API for Merchants- Integrate with merchant checkout mechanisms- Test mediated chat mode
  • Platform Test API for Merchants

  • integrate with merchant checkout mechanisms
    Test mediated chat mode
  • Q3 2018

  • Client API, Wallet Web App- Check your balance & transactions- Integration with major eCommerce platforms
  • Client API, Wallet Web App

  • Check your balance & transactions
    Integration with major eCommerce platforms
  • Q4 2018

  • Native apps iOS, Android- 200+ Merchants- Live Transactions
  • Native apps iOS, Android

  • 200+ Merchants
    Live Transactions
  • Q1 2019

  • Platform Refinements & Expansion- 1000+ Merchants- Progressive hiring of mediators
  • Platform Refinements & Expansion

  • 1000+ Merchants
    Progressive hiring of mediators

Activity

Activity:
1 246
VERY HIGH
Posts:
3 380
VERY HIGH
Views:
98 464
VERY HIGH
Activity:
1 246
VERY HIGH
Merit:
1 092
VERY HIGH
Posts:
3 380
VERY HIGH
Views:
98 465
VERY HIGH
Users:
1 027
VERY HIGH
Posts:
243
MEDIUM
Followers:
13 628
VERY HIGH
Likes:
12 713
VERY HIGH
Rating:
4.80
VERY HIGH
Followers:
68
VERY LOW
Tweets:
1
VERY LOW
30 Days Growth:
11
Alexa

Rank:
5 602 578
VERY LOW
Delta:
4 685 182

Team

Verified 0%

Attention. There is a risk that unverified members are not actually members of the team

CEO
unverified
Head of Engineering
unverified
Head of Operations
unverified
Head of Sales & Partners
unverified

Last News

$ 0.0224
2.67%
Coin Stats
Daily, %:
2.67%
Weekly, %:
6.64%
Monthly, %:
-41.04%
Market Info
Market Cap:
$ 10.086 M
Volume 24h:
$ 92.096 K
Circ. Supply:
450 M UTK
Ticker:
UTK
ICO profit
X 0.6897
ICO Price~$0.0325
3.69
stable
5.0 2
ICO Profile Vision Activity Potential Product Team

Utrust Reviews

verifiedicos.com
ICO review website

UTRUST might be able to bring value to their token by distributing it through their dispute resolution process, successful disputes would refund the buyer with UTRUST tokens instead of their original payment method. It may seem like a convoluted process for the buyer, but this as actually a key part of the business plan to ensure the coin holds value. Coupled with their plan to allocate transaction fees to buy back UTRUST tokens will be effective in keeping the token value from hitting rock bottom.

The major flag that will be hard to deflect in this analysis regards UTRUST's heavy marketing tactics. The indiscreet, in your face, high price marketing attracts investors that tend to dump their holdings at the most opportune moment. As we have stated before, coins that follow this path usually end up dwindling in value once it appears on an exchange.

Read More
crushcrypto.com
review

Opportunities:
Cryptocurrency payment has not been catching on because of the rising Bitcoin transaction fees. However, with the growing popularity and much lower transaction cost of Ethereum, especially after the Byzantium upgrade, we believe the time has come where Ether can become a viable cryptocurrency for online payments.
The online payments market is large with huge potential. If UTRUST can be successful, they have the potential to process billions of dollar of transactions a year.

Concerns:
There are other competitors in the cryptocurrency payment solutions space, such as Monetha, Request, Coinify, CoinPayments, BlockPay, Cryptonator, and BitPay. UTRUST may not be the winner in this industry.
UTRUST has no merchant support so far, which is lagging other competitors.
Other blockchain projects working on merchant payments such as Monetha and Request are trading at a sub-$35 million valuation, which makes it hard for UTRUST to obtain a high valuation.
The gap between pre-ICO (August) and ICO (November) should give the developers more time to come up with a minimal viable product. However, this is not the case. There is no proof-of-concept developed despite the team claiming that they are ahead of schedule in terms of development.
The platform is not going to launch until Q4 2018, which 1 year after the end of ICO. In the meantime, there would not be much catalyst for token prices.

Conclusion:
Overall, we are negative about this ICO’s short-term potential and neutral about its long-term potential. Our thoughts of the tokens for short term and long term are as follows:
For ​short-term holding
Negative. As mentioned above, $3.5 million was already raised at over 50% discount. Also, the high hard cap of $49 million will back fire, especially in this market environment, causing even less participants to contribute. We believe tokens can be bought at lower than the ICO price after trading.
For long-term holding
Neutral. We are not sure if UTRUST will win among the competition. In terms of getting merchants aboard for accepting cryptocurrency, UTRUST is falling behind Monetha (which secured multiple partnerships with large merchants) and Request (which can tap into the massive YCombinator network).
UTRUST is more competitive in terms of fees but it is not the only factor – Paypal is notorious about their high fees but they are still the market leader.

Read More
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