Buy it while you can: UTrust
I've been holding a bag of UTrust since I first started buying it in December 2017
Since then I've only ever added to it, building up a stack of UTrust (UTK) about 10 times as large as what I had back then. Despite prices having dropped radically from their January highs (ATH $1.38 / 9587 sats) to September lows ($0.023 / 374 sats), that type of performance is typical of the altcoins in 2018 and I remain very bullish about UTrust in general. As things look now, UTrust is on its way up again.
I have recommended buying UTK in various posts, including this one half a year ago and this one a month ago. I also featured it in my more recent post about altcoins leading the return of the bull market: https://mentormarket.io/cryptocurrency/@bitbrain/one-month-into-the-bull-market and its follow up post: https://mentormarket.io/cryptocurrency/@bitbrain/the-unbearable-but-quite-bullable-crypto-market. If you haven't read those last posts then I suggest that you do, I firmly believe that they are right, so much so that I plan to do a follow up post and elaborate more on that topic soon.
Before I get too distracted. Let's take a look at UTrust itself and why I like it. I'll give you an overview of the highlights, enough to let you go dig for more details if you want them.
Buy it while you can: UTrust
UTrust the basics
To quote UTrust, it is:
The world’s first cryptocurrency payment solution to offer instant transactions, buyer protection & crypto-to-cash settlements.
or more succinctly:
Cryptocurrency payments made simple and safe
It's being called the PayPal of the crypto world, a comparison which I find rather apt. In fact, speaking of PayPal, in September UTrust hired Sanja Kon - formerly of PayPal and eBay - as their new VP of Global Partnerships. She's currently in LA for World Crypto Con, while Alessandro Papadopoulos represents UTrust at the Malta Blockchain Summit, both of which end today.
The basics of UTrust is that it makes it possible for buyers to pay in crypto and for the merchants to receive their payments in fiat (if they so wish). For the buyers there is no charge for using UTrust and for the merchants their is a 1% payment fee. UTrust integrates its own wallet and escrow service. The app is designed to be run on a phone or tablet.
From https://utrust.com
The system is intelligent and allows for things like dispute resolution and refunds. Several cryptos have been integrated, with the plan being to continue to expand this over time. Their roadmap is available on Trello, you can see what they've already done, what they're working on now, what's coming next and more. View it at: https://trello.com/b/LBdFxyig/utrust-public-product-roadmap or get a little more insight into it here: https://blog.utrust.com/updated-roadmap%e2%80%8a-%e2%80%8aahead-of-schedule/
From https://trello.com/b/LBdFxyig/utrust-public-product-roadmap
UTrust recommends buying their token at Huobi Pro, KuCoin or OKEx. Of course I recommend KuCoin as it remains the favourite exchange of the one and only Bit Brain (no surprises there!): https://www.kucoin.com/#/?r=E39MoQ It is also available on several other exchanges, find them on CMC or here.
Why I really like UTrust
Well, it comes down to fundamentals. For cryptos to be useful, they need to be used. For the crypto community this is easy, we can easily exchange cryptos with one another (especially with a crypto junkie like me who deals in many more cryptos than most exchanges do! 😄). But what about the man in the street who prefers EFTs, or credit cards, or even cheques; or, gasp, dare I say it? Cash!?
For those left behind, sliding down the steep slope on the back of the technology curve, crypto is simply not an option. If I look at my own family, in the generation before mine, I can find a person who took years just to learn how to send an SMS! There is another family member who took classes to learn how to send an email, a fact which she proudly boasted about! Others flatly refuse to use internet banking, or to buy anything online, it sounds silly but I guess it makes sense. With so many scammers out there, people with such a low grasp of technology are easy to exploit and can easily be conned out of their money by e.g. a link to a fake banking site. What they need is something really easy to enable them to transact online, especially with the non-intuitive and new world of crypto.
I realise that my parents will probably never own crypto themselves, it's just too much of a mindset change for them at their age, but many more people, slightly younger, will have to use crypto sooner or later, and UTrust (hopefully!) will be there for them. Of course the newer generations (I knew that Millennials must be good for something! 😂) take to technology, especially if it is phone based, like a duck to water. Bearing this in mind and then factoring in the increasing amount of shopping that is done online (I probably spend a lot more online than I do in physical stores each year), you should be able to see the enormous potential of UTrust.
AND IT'S STARTING TO WORK!
Despite still being very much 'under development' UTrust is surging ahead. It is building what I can call, without any bias, some of the most impressive and synergistic relationships I've seen in the crypto world. I mean that, these guys have partnerships as impressive as those of my beloved CargoX(CXO), and my regular readers will know how much I love CargoX!
The UTrust partnerships will surely pave the way forward for the success of UTrust. To highlight a few of the partners:
- UMT AG - major European mobile payment platform
- Gambio - German e-commerce platform with over 25 000 merchants
- Pundi X - popular crypto POS coin
- Trustroot - blockchain customer security
- Digibyte - popular cryptocurrency
- Jumpseller - announced this week. e-commerce marketplace with over 10 000 stores, possibly the reason for the latest UTK price surge
...and many other well known names from various industries
From https://utrust.com
UTrust is being taken seriously in the business world, but not nearly as seriously as it will be taken in times to come (if all goes well, and I see no reason that it shouldn't).
From https://utrust.com/newsUTrust remains a serious "Buy and hodl" for me. I strongly recommend that you look into it. DYOR of course, but you know what my suggestion is. It's starting to really move now, invariably there will be a correction of two soon. If I were you then I would look at buying those little corrections. Don't say I didn't tell you once UTrust is a household name.
Yours in crypto,
Bit Brain
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by Bit Brain
What is the benefit of holding UTK? Is the only use case that you pay zero fees on transaction? This is okay but you would still have to pay fees converting to UTK right?
Yes you would pay transaction fees to buy it, though they are very low. I didn't go into token economics in my post, but there are benefits to holding it. You can look at page 19 of the whitepaper there, is a link to it here: https://mobile.twitter.com/UTRUST/status/905127775249498112
While the project might be live and well I don't see a strong case for holding the tokens or a way for them to accrue value, in fact like most ICO app tokens, they're probably just a glorified fund raising mechanism that adds friction to the UX and will be in time replaced by a stable coin to decrease the cost of using the platform and protect users again price volatility.
Am I missing something here?
I left that bit out. See my reply to saliv8.
Hi @bitbrain, I read the WP, still not convinced UTK tokens can accrue any value long term, the buy back mechanism might help but ts terms are quite vague.
And there is this:
Has the project communicated about it?
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