UTRUST (UTK) is a revolutionary payment platform that enables buyers to use their favorite cryptocurrency in order to pay sellers (private or merchants) in fiat currency.
INFO:
- White paper: Yes
- Roadmap: Yes
- Market: Payment
- Amount being raised: US$3.5M (Pre-ICO)
- Hard cap: $49M for ICO
- Soft cap: $10M
- Tokens created: 500M
- Public ICO Sales: 275M tokens (70%) @ $0.065 (6.5 cents) for 7 days.
- Distribution within 2 weeks after the ICO, unsold tokens will
be burnt. - Accepted contributions: ETH, BTC
- Token Protocol: ETH, ERC20
Project Overview:
Overall, the project shows some positive signs for future growth and become the crypto ‘paypal’ if they can convince the big merchants to join. Crypto hype and volatility are still seen as higher risks for traditional business. In my opinion, it would be a good long hold for at least a couple of years.
For flipping, early investors might dump the token after the sales due to a large parity between pre-sales and public sales, considering pre-sales 100M tokens range from 2-3 cents. Although, it won’t be a highly alert sign since the distribution of pre-sale is not significant and the project is speculated for a great long-term investment due to its scalable concept and a dynamic team.
Opportunity:
- Great vision and concept - “To build a payment API for marketplace integration that will become the crypto-contender to PayPal”. The business model is solid which resolve major pain points in the payment segment.
It can be considered as Paypal + Cryptocurrency, which allows users to benefit from lower fees, faster transactions, buyer and seller protections with no charge backs, a range of popular cryptocurrencies (not only Bitcoin like BitPay), all decentralized because of blockchain technology. It combines the missing pieces of current providers by bridging the gap between crypto and fiat currencies, and provide robust customer protection and dispute resolution scheme to minimize the risk of scams, fraud or hacked accounts. Here is how it works:
- A fast-growing market: Cryptocurrency market is predicted to reach 5 Trillion in the year 2025. Bitpay is a successful case that stand the test of time with average transactions worth of over $1B in assets every month. Recent finished ICO of Monetha also raised $37M in 18 mins, showing a high interest in this model.
- A unique feature of Utrust token which is called intrinsic deflationary engine, can further stimulates its growth. In short, a proportion of tokens get burnt after every transaction is made regardless of the currencies which increases its scarcity, driving demand and future price in line with the increase in volume of transactions in the platform. They project to burn at max 50M a year to reach a minimum cap of 100M.
- A large team of young talent with strong technical backgrounds.
Concerns:
- No working product till Q2/18, the roadmap is ambitious and requires lots of work to deliver what they are promising. It will require great marketing effort to grow the awareness and the merchant pool. Although, they’ve announced that some do private test with some merchants before the end of the year which can gain momentum.
- Competition from crypto world such as BitPay, Monetha. However, Utrust has an advantage in providing more cryptocurrencies than these two. Future threat from mainstream platform will not be anytime soon, at least until crypto is regulated.
Disclaimer: This is only a personal opinion and not an investment advice, we don't endorse any of these ICO's covered and ICO's inherently risky never invest what you can't afford to loose.
This review is made by Bitcoin for Beginners by and for our members to improve skills and make our members aware of different ICOs.
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