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
Sorry to hear that! We even extended it by one day (including the 20th as our communication may not have been clear).
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!
Thank you for this clear explanation. Is there a calculation available for the amount of tokens that will be burned with each transaction? I kinda missed that in the White-paper.
