UTRUST Fundamentals Educational Review
By reading the article “UTRUST Fundamentals” published in Adaas Investment Magazine, you will get acquainted with the UTRUST platform and its token UTK in general. This level of familiarity can be enough when you need educational information about this topic.
Table of Contents
Introducing UTRUST cryptocurrency.
In 2017, the white paper of this cryptocurrency was released, which indicates the purpose of developing this platform. UTRUST is a cryptocurrency-based payment platform that, with the features it provides, enables users to choose from a wide range of cryptocurrencies for their payment processes and even settle with Fiat currencies to avoid market fluctuations.
Simply put, UTK cryptocurrency acts as a third party between a buyer and a seller who is willing to pay and receive financial services through cryptocurrencies. The UTRUST platform is responsible for integrating financial operations under blockchain technology and with its innovative solutions provides a cryptocurrency-based payment process for buyers and sellers with the ability to repay and protect the seller against large fluctuations in the cryptocurrency market.
What problem does UTRUST cryptocurrency solve?
Over the last one to three years, people who are willing to use digital currencies for their payments and finances are growing day by day.
One of the problems that arise as a challenge for cryptocurrencies and their use as a payment system is the high volatility and wide range of types of currencies. This challenge causes sellers to avoid accepting them as payment systems due to the high volatility of cryptocurrency prices, and users may also be willing to pay in certain digital currencies that the seller has not been able to accept.
To solve this problem, UTRUST cryptocurrency has stepped in with its innovations and has solved this problem in general. Buyers can pay with a wide range of cryptocurrencies, and sellers can receive Fiat currencies from the UTK platform in exchange for cryptocurrency, thus being free from both price fluctuations and a cryptocurrency-based payment system for They provide more customers.
What are the features of UTRUST cryptocurrency?
As you will have realized, this platform is trying to solve one of the biggest challenges of using cryptocurrencies for their main purpose of payment. If this challenge is not met, cryptocurrencies will continue to be used for speculation and investment purposes. Following the biggest features of UTRUST is the solution offered to solve the big problem of its community.
Other features of this platform include increasing the speed of transactions while reducing costs. Payments made by the platform’s central competitors, such as the PayPal payment system, are very fast, but the cost of the PayPal fee is about 3%, which on the UTRUST platform is reduced to 1% of the total purchase cost.
The platform also offers a centralized deposit system that, like other third-party solutions, transfers money from the buyer’s account to the seller’s account if the transaction is completed correctly, and in the event of a dispute, The Dispute Resolution Commission will resolve the dispute between the buyer and the seller in accordance with the specified rules.
In this way, the security of transactions is maximized, and this issue is a very valuable and positive strength for all network users for the UTRUST cryptocurrency.
Review of UTRUST cryptocurrency network’s token
The UTK token, a smart contract developed under the Ethereum ERC-20 standard, is distributed for the UTRUST cryptocurrency. However, from the perspective of some people, this platform can move forward without the need for tokens. But to get financial support, they have started initial offering coins or ICO for UTK tokens. People can also use the UTK token to minimize commission costs, which is a good strategy for the network and users.
UTK tokenomics review
For this cryptocurrency, the amount of 1 billion tokens are considered for maximum distribution. As you can see in the picture, 55% of the total supply was sold at the initial sale stage of the coin or ICO for $0.065. Also, 22% of the total tokens were sold for $0.02 in private sale phase.
Also, for easier reading, the following table has been published for you, in which the price, amount and stage in which UTK tokens have been distributed are specified.
Review allocation of funds, Post-ICO UTK tokens
- 40% of the total capital has been allocated for the development and engineering activities of the UTRUST platform and the employment of human resources in this sector.
- 20% of the total capital is allocated for the development of business partners such as exchange offices.
- Also, 15% of the capital has been allocated for the marketing and advertising of the UTRUST platform.
- Compliance with organizations and regulations is the sector for which 12% of the capital is allocated.
Also, 10% has been allocated for operation activities and management and 3% for other unnecessary activities.
UTRUST cryptocurrency development team
An early cryptocurrency investor, deeply involved in crypto markets and community since early 2011, and successfully co-founded several B2C ventures. With a background in Law and Marketing, he is passionate about the transformative future of digital payments.
Head Of Engineering
Working at Subvisual for more than 5 years, he specializes in the development of complex web-centered solutions, using Ruby and RoR. He has a fondness for open-source tech and giving back to the community.
to read about all of the UTRUST team members, you can visit: utrust.com/about/
How to buy UTRUST cryptocurrency
To buy this cryptocurrency, you can use the following exchanges:
You can also enter the UTRUST cryptocurrency profile at CoinMarketCap.com to view the latest updates from exchanges that support the sale and purchase of UTK tokens through the following link and view the list of exchanges with their liquidity.
The end words
At Adaas Capital, we hope that by reading this article you will be fully immersed in UTK Token Analysis and the UTRUST Platform. You can help us improve by sharing the article “UTK Analysis” published in Adaas Investment Magazine and help optimize this article by submitting your comments.
Simply put, UTK cryptocurrency acts as a third party between a buyer and a seller who is willing to pay and receive financial services through cryptocurrencies.
One of the problems that arise as a challenge for cryptocurrencies and their use as a payment system is the high volatility and wide range of types of currencies. To solve this problem, UTRUST cryptocurrency has stepped in with its innovations and has solved this problem in general.