UTrust ICO Review – UTK Token – Crypto Currency Payment Platform

UTRUST is a payment platform that allows buyers to pay with cryptocurrencies with purchase protection mechanism. This ICO for this crypto coin starts on 2nd November 2017.

Concept

UTrust’s aim is to build a next-generation payment gateway allowing buyers to use their favorite cryptocurrency to buy goods and services with confidence from merchants, incorporating a robust PayPal-like consumer protection and dispute resolution scheme. It aims to drive adoption of the API by merchants by providing them a way to receive fiat currency directly from cryptocurrency buyers, shielding the merchant from market volatility and decreasing the risk of accepting cryptocurrency.

UTrust Coin  Initial Coin Offering (ICO) Details

 
ICO Opening Date2-Nov-2017
ICO Closing Date9-Nov-2017
Websitehttps://utrust.io/ico
WhitepaperLink to Whitepaper
Start Price $0.065
Bonus / Pre ICO OfferSee below
  • UTrust (UTK) Total Supply :  1 Billion tokens
  • Available in Token Sale: 700 million UTK (70%)
  • Available in Pre-Sale & Private Investors:  15%  – 150 million UTK

Token Sales:  

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Use of Token :   

The token will act as a contribution stake from supporters, as a transactional token, that buyers can use in the UTRUST Platform itself alongside other major coins. The UTRUST token will not only have a role in the UTRUST Platform as an accepted token alongside other cryptocurrencies offering the advantage of fee waivering, but will also be synergistically tied to the platform in a strategic value coupling.

Each time a buyer pays with any cryptocurrency via the UTRUST payment platform, a small percentage of the transactional fee is removed from the market and burned in the form of a UTRUST token. This reduces the token supply further driving demand, the adoption of the platform, and the value for contributors. In essence, the higher the volume of transactions in the UTRUST platform, the higher
the potential value of the UTRUST token for contributors in the future.

Team:   available in the whitepaper.

RoadMap:   

How to Invest :  Sign in to your MyEtherWallet from the Send Ether & Tokens navigation link.

Other Similar ICOs :   N/A

Current Status: N/A

UTrust ICO Review: 

USP:  Buyer will pay using cryptocurrency and seller will get the fiat currency. Like normal credit cards/ paypal, buyer protection is offered.

Challenges:  

  • Product release is in 2018-2019, there may be more competitors by that time or technology might change.
  • Convincing big merchants to add this payment mechanism will be difficult.
  • Other competitors will be the companies that are issuing normal VISA/Mastercard based on the cryptobalance. Those may be better as those cards then be used at any merchant without needing platforms like UTrust.
Summary: I would personally avoid this ICO.
 
 Latest Market Price:  To be added when listed.

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