UTRUST

[Jay2408]

Lots of token supply on offer, if not sold 100% all token sisahnya whether to burning? if you see see token him quite a lot, but hopefully his token sold all and can run out

there's not a lot of token to be burn though if not all the token we're sold.
Utrust has raise a lot of money in the pre-ico. And it will catch the attention of the whale investor.

How much did they raise in pre ICO? Is hard to compete right now with the crisis and flood of ICOs, but they have some time to focus on advertising.

They raised 1.5m USD in pre-ICO. Before that they had a round for private investors where they raised 2m USD. Hardcap for crowdsale is 45.5m USD. Quite a lot, imo.

[cantdecide]

I still got a question regarding the 1% fee for the buyer and I am still not sure how the convertion of cryptocurrency to fiat works in detail.

If I understand correctly these 1% fee includes, besides a commission for UTrust, the fee that is necessary to convert from crypto to fiat on an exchange. So what happens if I buy something very cheap, maybe only worth $! or something like that and I want to pay with Bitcoin. In this case the 1 % of such a tiny amount won't be enough to convert it to fiat, right?

Isn't this a general problem as long as cryptos got transaction fees? UTrust always has to send the crypto currency from its Escrow to the exchange partner in order to get it converted. Who pays for these transactions? Because as I stated above I guess the 1% fee wont be enough to cover that.

Well that's an interesting question, but the 1% don't implement the normal transaction fees if I get the answer of the dev right.

But if you see it real, you still have more fees in addition to the 1% or? Buyer and seller need to deal also with transaction costs of the crypto, or do I see it wrong?

You would likely be correct. I will clarify this for you and post it here in the next update, but the network fee is probably still to be paid by the users themselves. Given that this will become cheaper and cheaper (IOTA is free, Litecoin will soon be too, etc), this should only add insignificant overhead.

Yeah, I understand it the same way.
But as long as there are huge transaction fees (or network fees) that add up on top of the 1% fee I could understand everyone who wants to stick to traditional payment options instead of UTrust. Unforunately that's something UTrust can't do very much about for now, besides adding the option to pay with the tx-fee-free cryptos like IOTA.

I am not so aware of the IOTA structure, as I got afraid of the claiming process, so I haven't hold me up to date. How do they compensate the tx-fee-free structure?

[magisterr]

They raised full amount on pre-ico? (as in the announcement - 1.5 mln usd). For which period they raised this amount?
And when ll be start ICO? Can anyone give me exact date?

Not full amount but, the 15% which was reserved for the Private Investors and Pre-ICO.
The exact date is not yet finalized but it is expected to start in the first week of October.

No, no. I seen this. On 1-st page:
100 mln tokens for private investors (sold)
50 mln - Pre-ICO (sold)

So, they sold all this tokens or only part of them?

[mike0182]

They raised full amount on pre-ico? (as in the announcement - 1.5 mln usd). For which period they raised this amount?
And when ll be start ICO? Can anyone give me exact date?

Not full amount but, the 15% which was reserved for the Private Investors and Pre-ICO.
The exact date is not yet finalized but it is expected to start in the first week of October.

No, no. I seen this. On 1-st page:
100 mln tokens for private investors (sold)
50 mln - Pre-ICO (sold)

So, they sold all this tokens or only part of them?

as far as I know they sold all the tokens, though I could be wrong.. In any case it is not such a large sum for such a promising project

[cryptothreads]

They raised full amount on pre-ico? (as in the announcement - 1.5 mln usd). For which period they raised this amount?
And when ll be start ICO? Can anyone give me exact date?

Not full amount but, the 15% which was reserved for the Private Investors and Pre-ICO.
The exact date is not yet finalized but it is expected to start in the first week of October.

No, no. I seen this. On 1-st page:
100 mln tokens for private investors (sold)
50 mln - Pre-ICO (sold)

So, they sold all this tokens or only part of them?

I think they have not sold out yet because in October there will be a crowsale and everyone can buy Utrust, if this happens the project will be sold very quickly because there are so many investors who like this project.

[Sozialtourist]

I still got a question regarding the 1% fee for the buyer and I am still not sure how the convertion of cryptocurrency to fiat works in detail.

If I understand correctly these 1% fee includes, besides a commission for UTrust, the fee that is necessary to convert from crypto to fiat on an exchange. So what happens if I buy something very cheap, maybe only worth $! or something like that and I want to pay with Bitcoin. In this case the 1 % of such a tiny amount won't be enough to convert it to fiat, right?

Isn't this a general problem as long as cryptos got transaction fees? UTrust always has to send the crypto currency from its Escrow to the exchange partner in order to get it converted. Who pays for these transactions? Because as I stated above I guess the 1% fee wont be enough to cover that.

Well that's an interesting question, but the 1% don't implement the normal transaction fees if I get the answer of the dev right.

But if you see it real, you still have more fees in addition to the 1% or? Buyer and seller need to deal also with transaction costs of the crypto, or do I see it wrong?

You would likely be correct. I will clarify this for you and post it here in the next update, but the network fee is probably still to be paid by the users themselves. Given that this will become cheaper and cheaper (IOTA is free, Litecoin will soon be too, etc), this should only add insignificant overhead.

Yeah, I understand it the same way.
But as long as there are huge transaction fees (or network fees) that add up on top of the 1% fee I could understand everyone who wants to stick to traditional payment options instead of UTrust. Unforunately that's something UTrust can't do very much about for now, besides adding the option to pay with the tx-fee-free cryptos like IOTA.

I am not so aware of the IOTA structure, as I got afraid of the claiming process, so I haven't hold me up to date. How do they compensate the tx-fee-free structure?

I am not an expert  on IOTA either but as I understand there is no blockchain anymore but a so called Tangle. In order to make a transaction you have to validate two other transactions by a simple PoW.

[Heimer]

What are the accepted currencies to contribute in the token sale? Only ETH or is it also possible to buy in with Bitcoin?

UTRUST will accept Bitcoin and Ethereum. It will be much convenient for them to count contributions. If you have other currencies you can use shapeshift or other services for converting them into ETH/BTC

[magisterr]

They raised full amount on pre-ico? (as in the announcement - 1.5 mln usd). For which period they raised this amount?
And when ll be start ICO? Can anyone give me exact date?

Not full amount but, the 15% which was reserved for the Private Investors and Pre-ICO.
The exact date is not yet finalized but it is expected to start in the first week of October.

No, no. I seen this. On 1-st page:
100 mln tokens for private investors (sold)
50 mln - Pre-ICO (sold)

So, they sold all this tokens or only part of them?

I think they have not sold out yet because in October there will be a crowsale and everyone can buy Utrust, if this happens the project will be sold very quickly because there are so many investors who like this project.

I mean, not ALL tokens. I mean this tokens:
100 mln tokens for private investors (sold)
50 mln - Pre-ICO (sold)

This 150 mln tokens was sold in full volume?

[toolucky98]

They raised full amount on pre-ico? (as in the announcement - 1.5 mln usd). For which period they raised this amount?
And when ll be start ICO? Can anyone give me exact date?

Not full amount but, the 15% which was reserved for the Private Investors and Pre-ICO.
The exact date is not yet finalized but it is expected to start in the first week of October.

No, no. I seen this. On 1-st page:
100 mln tokens for private investors (sold)
50 mln - Pre-ICO (sold)

So, they sold all this tokens or only part of them?

I think they have not sold out yet because in October there will be a crowsale and everyone can buy Utrust, if this happens the project will be sold very quickly because there are so many investors who like this project.

I mean, not ALL tokens. I mean this tokens:
100 mln tokens for private investors (sold)
50 mln - Pre-ICO (sold)

This 150 mln tokens was sold in full volume?

Yes of course, all of those 150 mln tokens.
You can read on the first page "SOLD OUT"

[tiger5056]

https://medium.com/@UTRUST/early-supporter-reward-e9a862208b7f missed early supporter discount. is there still any tier discount when open?

[FIEX]

I mean, not ALL tokens. I mean this tokens:
100 mln tokens for private investors (sold)
50 mln - Pre-ICO (sold)

This 150 mln tokens was sold in full volume?

Yes of course, all of those 150 mln tokens.
You can read on the first page "SOLD OUT"

Indeed 15% of all tokens are already sold!
This is great news for this ICO, this means the crowdsale will get a lot a traction.

Cant wait for the crowdsale

[toolucky98]

https://medium.com/@UTRUST/early-supporter-reward-e9a862208b7f missed early supporter discount. is there still any tier discount when open?

You have missed that chance, i dont know about another discount or bonus because the pre-ico have finished.
But i think the ICO price is still cheaper than in the future when many people are using UTrust.

[Islapdonkey]

I mean, not ALL tokens. I mean this tokens:
100 mln tokens for private investors (sold)
50 mln - Pre-ICO (sold)

This 150 mln tokens was sold in full volume?

Yes of course, all of those 150 mln tokens.
You can read on the first page "SOLD OUT"

Indeed 15% of all tokens are already sold!
This is great news for this ICO, this means the crowdsale will get a lot a traction.

Cant wait for the crowdsale

yeah i wish i saw tht early. That means i can dump 20% at the start and still be on stake value as ico particpants

[Korsakopf]

https://medium.com/@UTRUST/early-supporter-reward-e9a862208b7f missed early supporter discount. is there still any tier discount when open?

You have missed that chance, i dont know about another discount or bonus because the pre-ico have finished.
But i think the ICO price is still cheaper than in the future when many people are using UTrust.

I've looked around for it as well, since i was also too late. But i think we just have to wait till the official start. Or Etherdelta right after 

[alphashotgun]

I mean, not ALL tokens. I mean this tokens:
100 mln tokens for private investors (sold)
50 mln - Pre-ICO (sold)

This 150 mln tokens was sold in full volume?

Yes of course, all of those 150 mln tokens.
You can read on the first page "SOLD OUT"

Indeed 15% of all tokens are already sold!
This is great news for this ICO, this means the crowdsale will get a lot a traction.

Cant wait for the crowdsale

please help me a little bit.
 is there a difference between crowdsale and ICO?

[PS92]

I cant remeber Reading about dividends in the wp...

You are correct sir. They didn't mention the word dividend least when i searched it. And as far as i've read it, i can't see anything like that either.

Utrust don't give you dividends, they will raise the price or increase the value of utrust tokens by burning a percentage of the fees, which they ill convert to utrust tokens, so eventually the more people use the platform, the more utrust tokens are burnt, thus dropping the supply and increasing the value, but definitely they won't give you dividends.

Which is quite a cool construction.

[Kakumei]

Dear community,

Kakumei here, the official community manager / support.

First of all, let me thank you very much for the support and questions in the past few days. We really appreciate your interest and I aim to answer all your questions every day. Also a big thank you to our community volunteers on the forums, Slack, Discord, Telegram and WeChat. Your continuous efforts make our community as great as it is.

Now, to your questions!

Was thinking that crypto cards like Monaco, Centra and Tenx are very cool but Utrust can be really the big boy here, buyer protection is amust...speaking of crypto cards, are you going to collaborate with them?

We have no such immediate plans but cannot rule out that we would in the long-term.

As far as I know there won't be paid any dividends. Or am I wrong? A problem with coins paying dividends is that it is often very hard for them to get listed on bigger exchanges.

UTRUST will not pay dividends, but I guess you could argue that you have "implied dividends" by us burning token to decrease global supply. It's not though. Think of it as the opposite of inflation in fiat. That's what that is.

If im not mistaken, i heard that bittrex wouldnt accept any dividend coin/token.
But where did you get the information that if you keeping Utrust tokens you will get extra %?

Don't know about Bittrex as they also have Omise and NEO, among other coins. But to make it crystal clear: UTRUST is not paying dividends.

There is some healthy press and video material popping up around UTRUST, so I believe that this may be another one of those success story ICOS that have a good following and also an excellent service/product. I am confident that it will sell out quite fast, even in this bearish market and the China debacles looming over us. Nothing can stock blockchain development now and as a Chinese living abroad I embrace technological advancement as I am sure many of my Chinese countrymen will as well.

Thank you very much!

I still got a question regarding the 1% fee for the buyer and I am still not sure how the convertion of cryptocurrency to fiat works in detail.

If I understand correctly these 1% fee includes, besides a commission for UTrust, the fee that is necessary to convert from crypto to fiat on an exchange. So what happens if I buy something very cheap, maybe only worth $! or something like that and I want to pay with Bitcoin. In this case the 1 % of such a tiny amount won't be enough to convert it to fiat, right?

Isn't this a general problem as long as cryptos got transaction fees? UTrust always has to send the crypto currency from its Escrow to the exchange partner in order to get it converted. Who pays for these transactions? Because as I stated above I guess the 1% fee wont be enough to cover that.

This strongly depends on the currency you are paying with. Bitcoin will naturally be more expensive, while Litecoin, IOTA, NEO etc will be free. Not confirming any currencies here, but there are already free or next to free ones in the wild that can be used. Even Ethereum and Bitcoin working on fixing this.

According to their whitepaper they accept both, ETH and Bitcoin.

This is correct. We accept 0.2+ ETH and 0.02+ BTC contributions in the ICO.

How much did they raise in pre ICO? Is hard to compete right now with the crisis and flood of ICOs, but they have some time to focus on advertising.

Private investors: 100m
Pre-ICO: 50m

https://medium.com/@UTRUST/early-supporter-reward-e9a862208b7f missed early supporter discount. is there still any tier discount when open?

Sorry to hear that! We even extended it by one day (including the 20th as our communication may not have been clear).

That was a good question, i didn't even think about that. But i know Vitalek (Ethereum) is working on reducing fee by a lot. Just look at one of his recent tweets (https://twitter.com/VitalikButerin/status/909826646483509248) They are working on several changes to make this happen.

Exactly, thanks for sharing!

I correctly understood that if I keep tokens Utrust I'll get extra % ?
And what will be the fee for payment by other crypto-currencies?

As already stated: No, no dividends.
We will burn tokens which have implied gains in the long-run.

Are you the first on the market with this idea?
Do you have any competitors?
What are your partners?
Thanks

1. We believe so! There are other payment gateways, but no payment platform like UTRUST. Buyer protection is a real deal with us, not provided by any other project so far.
2. No direct competitors, but similar projects that would include Monetha.
3. We will announce more information before, during and after the ICO.

What is the reason for the postponement of the date of the ICO?
Do I need passport data to purchase tokens? Can all countries participate?
And when will I get the tokens?

1. We will release an in-depth medium article in the next week or two explaining why we thought this was the best course of action.
2. Not at this point, but with changing regulation I cannot confirm or deny anything at this point.
3. As per our whitepaper, the tokens will become withdrawable 3 days after the ICO ends.

Which is quite a cool construction.

We think so, too!

But i think the ICO price is still cheaper than in the future when many people are using UTrust.

Pure speculation but we like to think so, too!


As usual, I hope I was of help. I will be back every day to answer all of your questions.

Thank you and have a nice weekend everybody!

[Elkmar]

Good to know the tokens don't have any dividend.

The influence on the price of Bittrex is too important in comparison to the dividends that token can offer.

[Heimer]

I mean, not ALL tokens. I mean this tokens:
100 mln tokens for private investors (sold)
50 mln - Pre-ICO (sold)

This 150 mln tokens was sold in full volume?

Yes of course, all of those 150 mln tokens.
You can read on the first page "SOLD OUT"

Indeed 15% of all tokens are already sold!
This is great news for this ICO, this means the crowdsale will get a lot a traction.

Cant wait for the crowdsale

yeah i wish i saw tht early. That means i can dump 20% at the start and still be on stake value as ico particpants

Why would you do this? If I were you I will be accumulating and hodling for the long term investment. IMO this is the best tactics for biggest gains 

[Drokzid]

They raised full amount on pre-ico? (as in the announcement - 1.5 mln usd). For which period they raised this amount?
And when ll be start ICO? Can anyone give me exact date?

Not full amount but, the 15% which was reserved for the Private Investors and Pre-ICO.
The exact date is not yet finalized but it is expected to start in the first week of October.

No, no. I seen this. On 1-st page:
100 mln tokens for private investors (sold)
50 mln - Pre-ICO (sold)

So, they sold all this tokens or only part of them?

Perhaps do you know the exact prices in ETH, USD and BTC for which UTRUST tokens have been sold in pre-ICO and during the initial private funding phase?