Utrust: What The New Payment System In Cryptocurrencies Is And How It Works
This platform has become known for its innovative digital transaction protection device . Finally, users can have a mechanism that protects online purchases. UTRUST not only allows payments with cryptocurrencies , but provides all the necessary support to solve problems, ask for refunds and fight against virtual frauds. The aim is to facilitate the integration between the different payment methods available today. In this article we will find out what it is, how it works and what the main features of this new platform are.
This digital platform launched in 2017 uses blockchain technology for online payments. It combines innovation with traditional methods to bring buyers and traders together in a single virtual space. The system was designed to secure virtual transactions from the moment of payment to the final delivery of the product. Simplify payments and reduce conversion costs for setting up a cryptocurrency redemption gateway . In this way everyone can have the possibility to make and accept payments with virtual coins. The most important innovation introduced by Utrust is the protection of business-to-comsumer operations fromvolatility of digital currencies . In practice, multiple blockchain networks are integrated to support the token and the different payment methods. The main objectives pursued are:
- Protect buyers
- Promote cryptocurrencies
- Mediate between sellers and buyers
- Improve transaction speed
- Reduce the volatility of electronic currencies
Once the purchase transaction is completed, the conversion value is immediately calculated. This way the price cannot change and the parties involved do not lose anything. The digital wallet is also unique and allows users to take advantage of all available currencies to complete off-chain and on-chain transactions. Utrust has practically solved the main problem of digital trading: the change , often drastic, of the value of a cryptocurrency . A slow payment system affects the final price of the transaction. This platform , on the other hand, is not affected by fluctuations because the transactions are processed very quickly. Any purchase operation begins with the search for merchants who also accept cryptocurrency payments. The user only pays a commission for the real-time conversion of e-money. In practice, the fiat currency used for the transition is converted after the purchase to be safe from devaluations. This transitory phase is directly related to the financial operator’s reputation on the market. Once the trader has been evaluated, the payment is released and the trader receives his compensation in fiat currency. The more transactions that are concluded without disputes, the more the seller is rated positively. Thanks to a messaging system merchants and buyers can meet to discuss problems related to transitions. Also you can use it too Utrust Wallet on your smartphone to store, send and purchase a product as quickly as possible.
The UTK Token
Volatility is the main brake on the diffusion of virtual currencies and for this reason merchants do not intend to carry out encrypted transactions. This platform limits the issue to ensure complete protection of the buyers at the same time. Sellers and users can interact before reaching an agreement unlike major gateways which are unable to reverse difficult transactions due to blockchain technology. Consumers are protected against scams because every financial transaction is monitored with extreme care. The main advantages proposed by Utrust are the following:
- Protection against the volatility of cryptocurrencies
- Safeguarding of transactions
- Mediation between the parties
- Low commission costs
- Discounted rates for sellers
- Chargeback protection
- Utrust Tokens ( UTK )
This platform also has its own token for encrypted payments. UTK can be used as a transaction currency with no conversion fees unlike other cryptocurrencies. It was launched in 2017 and in the first two weeks it had a slight peak followed by a slight decline. According to analysts, the value of the token is destined to increase steadily without major jumps in the coming years.
Volatility is the main problem with cryptocurrencies and Utrust has the ambitious goal of limiting fluctuations to promote encrypted payment among businesses . In the coming years, virtual currencies are destined to enter everyday life and for this reason blockchain platforms will be increasingly important to guarantee user safety.
