The digital society we have today is something that the traditional payment sector is finding hard to meet up with. The traditional cross-border payment is expensive and, on top of that, takes days to complete. Additionally, the rate of fraud in this system is disturbing.
That is why new technologies like blockchain have evolved to tackle things like this. In the blockchain era, we have a protocol that specifically tackles issues like those mentioned above, that abound in the traditional financial system.
That protocol is Utrust, and the introduction of this protocol means crypto investors have something to be excited about. The price of the protocol native token UTK is what investors watch out for and that is why price predictions are important. We look at the Utrust price prediction for 2021 to see what the token will yield for would-be investors.
Explaining Utrust Protocol
Time to examine the Utrust protocol itself and see what it is all about and if the price of its token makes it a viable choice for investors’ portfolio. The protocol serves as a payment platform in similar ways to traditional payment platforms like Skrill, PayPal, etc. Unlike the traditional platforms, Utrust serves as the crypto equivalent to these platforms.
However, Utrust is not alone in this as it has crypto platforms with similar offerings in the mold of Monetha, Bitpay, etc. One striking difference sets Utrust apart from these other crypto platforms though. That is payment protection for customers similar to what we have in a centralized payment gateway.
Backed by the security that blockchain has to offer and its well-known transparency, Utrust created something, unlike any other centralized payment platform. It has developed a payment gateway that has advantages for both merchants and consumers. In addition to that, the protocol native token UTK serves as an incentive to users while driving the continued expansion and development of the protocol.
The payment protection for consumers that Utrust has in place means that if you as a consumer return a faulty or bad product to the seller then Utrust will return your payment to you. So, Utrust is designed in such a way to offer you what you will get on centralized platforms without giving you the problems you face with these platforms. The platform makes it easy for merchants and consumers to access a swift and cheaper payments process at the same time providing immediate crypto to fiat settlement. That means you can pay or receive payments in major cryptos and ERC-20 tokens on Utrust and have them changed instantly into fiat currencies like USD.
This game-changing offering by Utrust is something investors look out for and see how it affects the price of the protocol’s token.
A Brief Background Story
The protocol is the brainchild of Nunu Correia and Roberto Machado and it was launched in 2017. Of recent, the protocol appointed Sanja Kon as its Head, Sanja boasts a rich and deep experience in the financial market. She has proven track working at PayPal as the Head of Marketplaces and Large Enterprises. Her past work experience also includes being a European Partner of Enterprises at eBay.
Her experience at PayPal puts her in a good position to understand how the eCommerce industry works as well as handling merchant partners, which serves Utrust well. With her at the helm of affairs, Utrust gained an upper hand in the adoption of crypto payment. Also, Utrust has secured a partnership with many businesses like PRW Jewelry, Bleu Jour, Woocommerce, Whow, S.L. Benfica, Alternative Airlines, Phone House, Morefrom, iperfumes.com, etc.
A Breakdown of How Utrust Works
Now one primary issue that is likely to bother users when trading crypto is the volatility of the market, which means the price of a certain token or coin could change significantly. That means at the time a merchant could be at a disadvantage if the token price drops. However, Utrust combat that with an instant crypto-fiat settlement and vice versa.
Here is how Utrust unites blockchain with the traditional payment protection for buyers. The transaction kick-start with the buyers searching for crypto accepting merchants. You will be able to see if the merchants have sites integrated with Utrust. You can utilize the Utrust mobile wallet to store, send, and purchase products and processing transactions immediately.
The total fee you have to pay will cover the 1% conversion fee and commission. This allows Utrust to change cryptocurrencies into fiat currencies instantly at the best possible exchange rates in the market. So, when you buy a product, the money paid will exchange into crypto and held in escrow and won’t be released until a specified holding period is over.
If the product is delivered successfully or the transaction is completed successfully without any issues or disputes then payment held in escrow is released. The merchant will receive the payment in desired fiat currency that can be converted into crypto or withdrawn.
Holding Period (Protecting the Buyer)
The holding period we talk about above is designed so, to protect the buyers just as we have in traditional payment systems. This period is the time for which the payment made by the buyer is held before it is released to the seller of the product bought. Utrust specifies how long the holding period will be and that is based on the seller’s reputation.
The holding period is security towards ensuring buyers get the goods they buy in acceptable conditions that were specified and agreed upon before the transaction took place. So, if the conditions are met then payment is released from the escrow. Every transaction that is carried out successfully without any dispute enhances the seller’s reputation rating in the market. However, for those with numerous disputes, their reputation rating takes a hit. Merchants with lower reputation ratings will have a longer holding period.
The UTK Token and How the Value Is Maintained
The token was launched in November 2017 and an ICO was staged where around $21M worth of token was sold. The total supply of the UTK token is 500M and more than half of this was shared at the ICO event. The distribution of the token saw presale events gulp up about 30% and around 10% dedicated to development purposes. Five percent of the token went to marketing and bug bounties. As of March 9, 2021, the price of the token is $0.4122 with a circulating supply of 450,000,000 UTK, and a market cap of $185,288,844.
To promote the use of the UTK token and boost the price, users don’t have to pay any exchange rate fees when making payments with the token. Also, new incentives are introduced such as enabling users of the platform to be rewarded with UTK for spending instead of just being token holders. These incentives boast and expand the utility of the UTK token. Additionally, a part of the transaction fees is used to buy UTK that are then burned to increase the value of the token.
Furthermore, apart from the incentive mentioned above, other features could help the price rise in the market. One of those features is the HOLD App that was released towards the ending of 2020. The HOLD App is meant to replace the Utrust wallet and it will support a multi-currency exchange. It will also host the launch of the latest features of the UTK token. Features like Reverse staking, which is described below.
Explaining Reverse Staking
For reverse staking, users are rewarded for utilizing their tokens instead of just holding and staking them. Every transaction done via Utrust earns you 1% of the transaction’s market value. This is then sent to your staking pot ensuring that UTK doesn’t remain in circulation thereby decreasing the supply. It is a deflationary model meant to add vital value to UTK.
Utrust Price Prediction for 2021
Let’s get down to some of the Utrust price forecast for 2021 that we have. The token has enjoyed a steady rise and it could well ride on this bullish market to produce quite a great run. Investors will be keen to find out where the token is headed in the market. Is it up or down? Price predictions are a good way to find out.
Digitalcoin Utrust Prediction for 2021
Here, the analysts project the token to keep rising steadily and gain 2 times its current price to reach as high as $0.7 in 2021. Going by their forecast, there is no indication that the value will depreciate and bring the price down making it a token to consider for your portfolio.
Utrust Price Forecast for 2021 by Tradingbeasts
The prediction here is quite similar to what we have at Digitalcoin, their forecast also projects the UTK token to increase in value based on historical data combined with linear and polynomial regressions. The average price by the end of 2021 is estimated to be $0.5147175 and reaching as high as $0.6433968. Again what we have here is a steady rise in the price of Utrust.
Walletinvestor’s Utrust Price Prediction for 2021
Based on their research, Utrust is seen as a profitable investment option for investors. Their projection for Utrust is that it will go to reach as high as $0.60 and giving you an earning potential of +47.09%. The token is not expected to experience a drop in price or crash.
YouTube’s Crypto Community Take on Utrust in 2021
Over to YouTube and what its crypto community is saying concerning Utrust price forecast. We will have a go at some of them. According to YouTuber CryptoBusy, the potential that Utrust has to offer can see it rise to a new all-time high of $1.4 and likely reach as high as $2 in 2021. He predicts that it can go even further if we do see an insane bull run come in the market. You can watch the full briefings here
YouTuber PatternsDecoder is also predicting the token to go up due to its very bullish nature in the market. He is predicting it to hit $1.28 then reaching up to $2. He is expecting the token to go further and reach like $3.5. You can watch his full prediction below:
Crypto Twitter and Utrust Price Prediction for 2021
A Twitter user by the name Neo predicted the Utrust token to reach as high as $10, which is an insanely optimistic prediction by the way. He believes it is an amazing project, which may be the reason why he is highly optimistic with his price prediction. Nevertheless, in the crypto market, you should expect the unexpected.
These Are insane gains.
And most of all, they Are amazing projects .
— Neo (@Neo37171023) March 2, 2021
$UTK Utrust token, staking + Cashback + Merchant referrals coming Q3 2020.
Get in early or miss the 🚀
Price prediction $5-$25 2021 bull run
— Munki 2.0 (@ChainLinkMunki) July 23, 2020
Unfrozen Balance’s Take on UTK
In this post, the user is projecting Utrust to first hit the $1 mark once it embarks on its parabolic run before reach new all-time highs. He believes there will be no stopping the token once it embarks on this run.
Once $UTK starts its parabolic run, there'll be no stopping it!
I'm accumulating more cheap gems now coz first we hit $1 & then new ATHs 🚀
— Unfrozen Balance (@UnfrozenBalance) March 9, 2021
Can Utrust reach $2?
Yes, it is likely to reach that in the next five years, by 2026 when it is projected to hit $2.27. Presently, don’t expect the token to get near that level, as the highest it is expected to reach in 2021 is around $0.93.
In the bid to offer a non-problematic eCommerce experience for users and merchants when it comes to the use of crypto to make payments for products and services.
Utrust has been able to mesh together solutions found in the traditional payment gateway with blockchain technology. This allows consumers to take advantage of traditional payments systems within a blockchain environment with all its advancements.
One thing about the traditional mode of payment is its notorious reputation for being slow. A wire transfer takes about 2 to 5 days to process and the fees can command a huge fee at that. Faster alternatives like PayPal also have extortionate fees attached to each transaction. Utrust provides swift and instant settlements across borders. This has boosted its rate of adoption and also its price in the market, which is why Investors turn to price prediction to help decide which way to go.
The various Utrust price prediction for 2021 that we have here can make decision-making easier for investors as to whether to include the token in their portfolio.
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