HOW USING CRYPTOCURRENCY CAN PROTECT YOU FROM FRAUD
With the rise of e-commerce, online payments have increased dramatically in the past decade. But with the increase in online payments has unfortunately caught the attention of a lot of opportunistic fraudsters. And while you can get anything delivered to your doorstep in 24 hours, there are some dangers that come with making traditional online payments.
Cryptocurrency is also slowly changing the way we do online payments all over the world. Anonymity and decentralization continue to attract new customers to crypto every day. Crypto has solved a lot of the problems traditional currency payments face. Without the high fees and slow transaction times, crypto helps to prevent online payment fraud.
But, while crypto seems to solve all the problems buyers have with the danger of online payments, it completely neglects the seller.
By utilizing decentralized blockchain tech, crypto manages to keep their low fees, while at the same time increasing transaction speed, strengthening wallet security, and preventing chargebacks. At the moment traditional currencies are solving this problem with consumer protection guarantees and policies, which does not prevent the 20 billion USD lost yearly to credit card fraud.
What is UTRUST?
If you want to experience the convenience and security of using your crypto to buy online, UTRUST might be the platform for you. This new payment platform lets you use your crypto to buy goods and services, without the danger of credit card fraud lingering over your head. UTRUST acts as an intermediary between the seller and the buyer. Using any cryptocurrency of choice, the buyer can pay for any goods or services and, at a low conversion rate, UTRUST will convert this into fiat currency and pay it to the seller. Or you can choose to use UTRUST coin, the company’s own token, with no fees attached.
UTRUST is an innovative new payment system and demonstrates a fascinating new way to use blockchain technology. With crypto not yet accepted into the mainstream, UTRUST aims to bridge the gap between crypto and fiat transactions. UTRUST is also implicating their own tokens, which will be used as a contributors stake, and as a transactional token. So users can use the UTRUST token to pay for services or goods through the UTRUST payment system.
UTRUST is being received as such a great payment platform for a few core reasons. There are a lot of problems in online payments that UTRUST manages to solve while keeping both parties happy. Firstly, the platform offers very low exchange fees. With a flat charge of 1% of their received payments for sellers is great compared to PayPal’s 2.9 and up fees. And, while giving lower fees, UTRUST also manages to offer a huge range of currencies (including crypto and fiat).
With unbeatable, almost immediate, transaction speeds UTRUST lowers the opportunity for fraud. While giving their buyers extra layers of protection. In fact, UTRUST will cover all goods and services rather than only physical goods like other platforms.
Who is UTRUST?
Nuno Correia has been the CEO of UTRUST since it began investing in crypto in 2011. He has been a part of much previous businesses to business start-ups and studied Law. The team behind the CEO is made up of international lawyers, MIT grads, and venture capitalists.
After signing up for UTRUST, each user receives their wallet, which they can use to store their own digital currencies to make purchases with. Unlike Bitcoin or Ethereum, when you make a transaction to a seller, it arrives almost immediately.
With well over 200 merchants, live transactions, and the release of their own UTRUST coin, the future of UTRUST will be in expanding and refining their platform. More merchants mean crypto will be able to make its way into the mainstream world of e-commerce online payments.
By partnering with companies like Digibyte with secure servers, and more importantly low transaction fees, UTRUST will be able to continue to offer what its customers want.
There are, fortunately, benefits for sellers and buyers alike. For someone using UTRUST to buy goods and services, this will make buying with crypto and fiat simple. With the option to pay with Bitcoin, Ethereum, Pundi, Sparkster, and countless more all on one platform. And with an added layer of security, you’re protected from credit card fraud when making any online payments, UTRUST will even hold funds until the buyer receives their goods or services, giving yet another layer of buyer security.
UTRUST can help a seller’s market expand majorly by increasing the number of currencies accepted by the merchant. And, with the company adding new coins every day, this market is only getting bigger. A merchant can also choose whether they want to receive their payment in crypto or fiat currency. And, finally, as UTRUST expands, and more transactions occur, the price of UTRUST coin will increase, giving token holders growing assets.
Where to buy UTRUST coin
UTRUST coin (UTK) is based on the Ethereum network. This means any wallet, as long as its ERC-20 supports, can be used to sell or trade UTK. UTK has increased in popularity, and there are plenty of exchanges offering them it now. Here are a few exchanges that currently offer UTRUST coins, you might want to head over and check them out.
- Huobi is based in Singapore and offers exchanges of UTK for BTC or ETH.
- KuCoin offers BTC for UTK trades.