Utrust, one of the world’s first such platforms, has created a payment solution that benefits both customers and businesses. Furthermore, the Utrust token supports the platform’s growth and expansion while also incentivizing users. Continue reading to learn more about Utrust, its most important features, and the best UTK exchange to buy it or trade it.
Utrust (UTK) is a blockchain-based solution that integrates traditional payment system aspects with the benefits of cryptocurrency. The platform enables customers to purchase digital or physical things using their preferred cryptocurrency or token. It also provides a consumer protection scheme in which funds are held in trust until the transaction is completed.
Utrust strives to safeguard both buyers and sellers from the consequences of market volatility by protecting sellers from it and offering purchasers a refund option. The project has many other key features that are fantastic, so here are a few of them:
The platform accepts a variety of digital currencies, but it also has its own native token, the Utrust cryptocurrency (UTK), which runs on the Ethereum blockchain. If users pay for goods and services with the UTK coin, they can avoid paying an exchange rate fee. Because every transaction burns a portion of the UTK crypto, the overall supply drops, reducing the circulating reserve. The better Utrust crypto performs, the more transactions it can handle.
The Utrust Wallet, which is available on both iOS and Android, was released in November 2019. Furthermore, the HOLD app enabled by Utrust launched in late 2020 and is available in most European countries. The HOLD app will effectively replace the Utrust wallet as the two projects are integrated, meaning that the native HOLD token investors will receive a 100:1 ratio of UTK tokens.
Utrust aims to be the most user-friendly platform with familiar characteristics, combining existing payment processors and blockchain technology elements. It enables users to buy goods or services using their preferred coin while the merchant receives fiat, creating an ecosystem in which consumers do not have to swap their currencies, and merchants can avoid dealing with cryptos and their volatility. Utrust also works with Pundi X, a company that uses XPOS technology to improve customer security.
With the consumer in mind, Utrust seeks to blend the best of blockchain and traditional finance. Although disruptive technologies such as DAOs and decentralized escrows are intriguing concepts, they are just not ready for widespread use. So instead, the UTRUST platform plans to focus on implementing its objectives through a business-oriented paradigm. As a result, a portion of the platform’s income remains by the UTRUST firm and enhances the opportunities to market the platform.
Swapzone examines the best exchange rates every day, processing speeds, and customer reviews to find you the most satisfactory swap services on the internet. The site also allows you to trade various cryptos and gives you an anticipated exchange rate before you commit to the transaction. Here’s how to buy UTK tokens or trade them:
An exchange rate is the rate at which one cryptocurrency can be exchanged for another through a certain crypto exchange provider. Cryptocurrency exchange rates on Swapzone reflect current prices of crypto assets and are updated every 30 seconds for you to keep track of any market changes and fluctuations to profit when buying the dip or going with the best exchange rate and the lowest exchange fees. All cryptocurrency exchange providers have their own rates, which depends on supply and demand, mining rewards, costs and so on. See what else might affect the rate in our article on prices.
There are two types of exchange rates aggregated by Swapzone – fixed rates and floating rates. To receive the exact amount of crypto that is displayed at the beginning of the exchange and shield yourself against the market's volatility, opt for fixed-rate offers. If you're ready to take a risk and receive less or more than the sum displayed, go with floating-rate offers but bear in mind that floating rates may drastically change any second. You can refresh your memory on how to get the best exchange rate here.
Crypto transaction fees may vary depending on the network (Ethereum transaction fees tend to spike during the congestion on the network), your chosen cryptocurrency, an instant exchange provider as well as its transaction processing speed and internal policy. These fees may be relatively low but it’s crucial to know they may be imposed in the first place.
If you want to exchange cryptocurrency with the lowest fees, beware of the offers with a grey-colored “Transaction fees are not included” label displayed under the exchange rate. To avoid having to pay an unexpected amount of fees during the exchange, opt for those that do not have that label. Read our articles to learn more about how to exchange cryptocurrency with the lowest fees and find out which assets have the lowest transaction fees.
Transactions usually take from 5 to 30 minutes to be processed, especially if you choose currencies with speedy networks. However, there are several factors that may affect and slow down the exchange process, i.e. transaction volume, blockchain capacity, network updates, cryptocurrency itself and the capacity or chosen exchange platforms.
The processing may take longer due to the large transaction volume, congestion of the network, blockchain overload and market overload, technical issues or system failures, lack of liquidity or network maintenance.
The transaction may be also stuck if you forget to add a required Extra ID, mistake networks or use the wrong wallet for a chosen crypto asset. If you worry that the exchange processing is taking too long, please, contact us at [email protected] or via our live chat on the landing page.
To exchange, buy, sell or trade cryptocurrency and store your crypto keys safely and securely, you need a crypto wallet. Choosing the best cryptocurrency wallet is a question of preference and need. To learn more, read our guide on how to choose the best cryptocurrency wallet for your needs.
There are several types of wallets for different crypto assets and tasks. Software wallets, or hot storage wallets, are connected to the Internet and come in many forms: Web, Desktop, Mobile or Browser Extensions. If you want to build a large crypto portfolio, you might want to look at multi currency wallets like Exodus, MetaMask, TrustWallet, Atomic or Guarda. If a coin or a token of your choice isn’t available there, you can always opt for a single-currency wallet that is usually designed by the project that launched the asset.
If you take safety and security matters seriously, go for hardware wallets, or cold storage wallets, like Ledger or Trezor, or even paper wallets. We strongly recommend you to do your research before creating a wallet: read the reviews to see what the community thinks, learn about the fees a particular wallet imposes for performing transactions, check out supported currencies and networks and see its security policy.
There are loads of different crypto exchange services, with new platforms emerging every month. Exchange providers differ by supported currencies, liquidity providers, fees, customer support, user interface, level of privacy and anonymity and customer support, which makes it hard for beginners to understand which one to choose. To learn more about what these exchanges offer and how you can assess them, read our guide on how to choose the best exchange platform.
To navigate them through the field full of services, we conduct research and thorough analysis of the market & list both prominent and promising exchange providers, keeping in touch with their teams 24/7. We give you all the necessary data on the offers they provide as well as their brief history, KYC/AML policies, reliability and advantages, while also indicating their downsides so that you don’t have to do that yourself.
Swapzone is an instant non-custodial cryptocurrency exchange aggregator that helps users make an informed choice when exchanging crypto assets. To make this possible, we gather the information on the exchange providers, select the parameters for comparison, aggregate and sort available deals & give an option to make a swap through providers' APIs in the same interface with a common user flow for every exchange. Still have doubts? Here's 9 reasons why you should use Swapzone to exchange crypto.
Learn how to exchange cryptocurrency with the lowest fees or zero fees as well as how to find the best crypto exchange rates and choose the safest cryptocurrency exchange provider.