Hello Steemit! I would like to introduce you to a potentially revolutionary system that's just about to enter the market and basically change our way of doing business: UTRUST!
UTRUST is a payment processor that allows merchants and individuals to trade using both cryptocurrencies and fiat money (such as USD and EUR).
By using UTRUST, the buyer pays using almost any cryptocurrency, such as Bitcoin, and gets charged a rather small conversion fee (or zero fee, if using tradeable UTRUST Tokens instead!). Then, the funds are converted to fiat money, which is much more stable than crypto.
Subsequently, the UTRUST algorithm releases the funds without delay and the seller obtains them, either to a bank account or to a digital wallet.
By using UTRUST, we can get rid of so many services that make dealing business with crypto such a clumsy task. Sellers get their performance rated by the platform, so they get shorter hold periods depending on their credibility. This allows for a trust-based ecosystem, such as the one in LocalBitcoins that encourages both buyers and sellers to gain reputation to bring forth new customers.
Furthermore, UTRUST protects your money,
"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," reads the UTRUST Whitepaper
The UTRUST Token is based on the Ethereum blockchain. As many of us know, Ethereum will be better than Bitcoin in the long term. Mainly because, Ethereum apps are much easier to develop and transactions are cheaper, faster and safer.
UTRUST's initial ICO round will open in October and will close in less than 7 days. Crowdsale cap is set at $49 million, and both BTC and ETH are accepted. The token pool will be fixed at 1 billion tokens . Minimum contribution stake will be 0.2 ETH / 0.02 BTC.
The fixed value per token for the ICO will be $0.065. UTRUST will distribute 70 percent of its tokens and hold back just 10 percent. 5 percent was distributed during August's pre-ICO, another 5 was used for marketing and 10 percent was distributed among private investors.
You can read more on the ICO here. You only need an ETH/BTC wallet and enough funds to participate. Just sign in on UTRUST and fill in your info.
(via UTRUST's YouTube channel)
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