UTrust is a cryptocurrency project that it will cover all goods and services purchased online, and it seems to have successfully navigated this to keep users happy. UTrust wants merchants to use its custom – built API to get USD / EUR right from buyers and keep it in their wallets. The conversion is done using a “lock in” of the best market rate at the time so the seller will get the amount requested. In the past, merchant ratings were higher as they completed more successful and dispute – free transactions, and consequently, their payment holding periods were lower.
A buyer receives the same amount of their preferred fiat currency as they would in Bitcoin, regardless of how much the price of Bitcoin may change. As the seller, you will also have an option to accept any form of fiat currency as a payment to help to protect you in the event of market variations. Additionally, buyers get fiat currency all they wish – they can keep it in their cell wallet, or keep it from their personal bank account. Once a buyer buys the product, the converted fiat cash is held in your wallet for a period of time, only to be released after a prescribed keep period.
This means that from the moment you click the Buy button until it is delivered to your door, the purchase is protected from fraud and fraud.
Reducing Payment Risks
The second benefit of the UTrust platform is its ability to reduce the risk of experiencing fraud when purchasing goods and services online. As a result, UTrust can do all it can to reduce the risk of fraud on its platform, approving payments almost immediately. This makes it possible to approve payments in a matter of seconds, unlike traditional payment systems, which delay the approval of payments and require the submission of countless documents.
It provides a self – mediated 2-party resolution mode, enabling both parties to chat via one resolution mediator guided by a single, independent expert with a clear understanding of the issues and the best possible solution. We also offer a third – party resolution mechanism to aid in settling disputes if the buyer and seller can not come to an agreement. Consumer protection is a key feature of the platform, where it would return money if the product turns out to be faulty. It is not centralised (i.e. payments can be decentralised) so you can contact them in case of problems. A payment solution like PayPal will only protect you from the physical goods you buy, but UTrust will cover the purchase of goods and services.
Better Merchant Experience
If you’re a seller on the UTrust platform, you will experience the same level of security as a traditional payment solution like PayPal or MasterCard. Choose from one of the many UTrust products available on the UTrust platform and you’re guaranteed a simple and enjoyable purchasing experience.
The above platforms just let you buy and sell tokens on them, but you often need help to decide which exchange to buy from and which to buying from. And when faced with the choice of a cryptocurrency gateway in existence, people are often more likely to choose the one that provides the fastest support for scenarios when things go wrong. However, the main difference between UTrust and other gateways in the cryptocurrency space is the customer protection that UTrust provides over centralized services.
It will be designed as a mediation mechanism wherein UTrust offers a safe chat environment for businesses and buyers to interact in which they may raise concerns in a non – invasive manner. Sellers in the UTrust platform are subject to a performance – based algorithm which is used to assess how well you interact with the customer. Volatility in cryptocurrency markets can have a significant impact on the prices of goods and services, which is what UTrust is trying to solve.
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