An Alternative to PayPal for Next Generation: The Blockchain
Paypal and Crypto together from a startup company.
Majority of internet customers are burnt by PayPal or perhaps another electronic payment process using Blockchain. Maybe you have attempted to withdraw cash somebody has sent to you. This could be only to discover that the fees can be pretty steep once you start using other services. Maybe you have attempted to get cash, and then learn that the charges could be high if use different services. And, the very best sin of all – PayPal does not take cryptocurrencies.
UTRUST, the first-of-its-kind Blockchain based transaction platform, intends to take the very best parts of PayPal type providers and also the very best parts of the cryptocurrency community collectively into an individual, seamless platform.
Limited Solutions From Blockchain Technology
The cryptocurrency community has practically erupted in the previous six weeks. Simply ask somebody that bought Bitcoin in January at $800, and then discover their investment really worth a spectacular $6,000 just last month. And still, the development of the market has outstripped the performance.
For instance, payments between people continue to be rather uncomplicated, though the simple fact of producing real-time business to customer (B2C) transactions is incredibly hard.
A variety of issues lie at the root of the dysfunctionality. To begin with, the day cost of the vast majority of cryptocurrencies is very volatile. The volatility frightens would be merchant users that end up not able to deal with the possibility of a sudden and huge loss immediately after a transaction completes.
What’s more, the plenty of cryptocurrencies available for use has left most merchants scratching their heads at the level of tech needed to really enter the industry. And in order to top it all off, transactions are irreversible, doing each sale final and returns very risky for both people. Buyer safety is moot, and seller safety is too.
PayPal incorporated with Cryptocurrency
Obviously, these two opposite systems (crypto and traditional) refuse to work together. Hence only serve to highlight the inherent weaknesses in both. Nevertheless, UTRUST, a Blockchain based startup, has conceived of a program which would unite these two devices into an individual protective platform.
On the customer side, UTRUST offers total buyer safety, like the PayPal marketplace. By offering safety, customers are able to buy without the customary crypto risk, bringing additional customers into the crypto community. And by taking a broad swath of various cryptocurrencies, UTRUST has taken the guesswork out of finances as well as coin swaps allowing buyers concentrate on whatever they do best – purchasing.
Likewise, for sellers, a platform which eliminates volatility issues by shifting the crypto payment into fiat currency at the second of the transaction is using UTRUST. Merchants are totally safe from volatility and also because UTRUST is really peer-to-peer, charges are considerably less. Per Nuno Correia, the company CEO:
‘’UTRUST is the first cryptocurrency payment solution in the world that provides buyers with a purchase protection. The next-gen version of PayPal is Blockchain-based and designed to make online payments safer, faster and cheaper.’’
Market value and sales jump
As Hamlet made clear a lot of times, the real thing that causes you to succeed will become your undoing. This will probably be the situation with PayPal. While their function was distinctive in the first days the changing financial world has moved toward better and new platforms.
By carefully removing risk factors for equally seller and buyer while still opening the door for cryptocurrency transaction structures, UTRUST seeks to resolve the problems which plague both platforms. A detailed reason of the platform of theirs might be found in this case.
The UTRUST token ICO begins Nov. 2 at 2 p.m. (UTC). The ingenious platform has brought investors to the table. UTRUST has totally sold out the personal investor as well as pre ICO sales, increasing $3.5 mln. Future public sale occupies 70 percent of the total token supply.