UTRUST update: UTK Live price, price chart, news and markets

The UTK price update as of now is $0.01517. In the previous 24 hours, its trading volume was $3,262,210, and its value has decreased by -1.57%. As of now, UTK's live market cap is $6,828,212, and it is ranked as the #975 on the Coincu. UTK has a circulating supply of 500,000,000 and a maximum supply of 500,000,000.

What is UTRUST?

UTRUST is a cryptocurrency payment platform that operates globally and serves millions of users. It has partnerships with hundreds of stores, allowing users to make payments for various products using UTRUST.

The main goal of UTRUST is to minimize costs and effectively manage the risks associated with procurement transactions.

How UTRUST's payment system works

When users choose a cryptocurrency for payment, the system generates a notification that includes the converted amount and transaction fee.

The cryptocurrency is then converted into USD by UTRUST to ensure that the seller receives the full value of the invoice, regardless of cryptocurrency market fluctuations.

How UTRUST mitigates crypto exchange rate fluctuations

When making payments through UTRUST, buyers can select between UTRUST Token (UTK) and various other cryptocurrencies such as BTC, ETH, or DASH. UTRUST processes these cryptocurrencies using two key components:

• The Bridge with Exchanges: UTRUST swiftly converts the tokens received from buyers into USD, minimizing payment process costs.

• Reserve Funds: UTRUST maintains a reserve of USD to quickly respond to exchange rate fluctuations.

This unique design ensures that sellers receive the full value of their invoices, regardless of exchange rate fluctuations, while also reducing costs for consumers paying with cryptocurrencies.

How UTRUST protects sellers and buyers

UTRUST evaluates the credit score of sellers by analyzing past transaction data. The duration of the transaction hold period is determined based on the seller's reputation and can range from 0 to 21 days.

In case of buyer complaints:

• The system facilitates communication between the parties to resolve the dispute automatically. If the conflict is resolved satisfactorily, the original amount is released to the seller.

• If disputes persist, the Mediator system makes a final decision based on the data provided by the parties.

The dispute resolution process described above is similar to many online commerce platforms. However, UTRUST offers a convenient cryptocurrency solution with a low fee of only 1%, potentially revolutionizing the shopping habits of millions of users worldwide.

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