How to buy Utrust token online
Before you invest in Utrust, it is a good idea to learn about the company’s fundamentals and the investment outlook for UTK tokens. This guide will cover these topics and help you decide whether or not you want to buy UTK tokens.
Compare where to buy Utrust tokens, and open an account
If Utrust and UTK tokens are both things you are familiar with, you may want to invest immediately. In this instance, click one of the links below, sign up to one of our recommended brokers and buy UTK tokens now. If you want to learn more about Utrust before investing, scroll down.
What is Utrust?
Utrust is like PayPal with crypto. The company is a leading cryptocurrency payment solution that is attempting to modernise the finance and payments industry. It aims to accomplish this by offering services like instant transactions and immediate crypto-to-cash settlements for merchants. Cryptocurrency is seen by some as volatile with little user protection; therefore, Utrust combines the best features of traditional payment gateways with the flexibility and security of blockchain technology.
The UTK token is Utrust’s governance token, and by using it, users can make payments for goods and services without any exchange rate. Every time a transaction occurs over Utrust, a small percentage of the transaction fees are converted into UTK tokens and burned, reducing the total supply of UTK and increasing its price.
Cryptocurrencies haven’t been adopted as effective payment solutions because of the levels of volatility that occur when trying to set a final price whilst the market fluctuates. However, Utrust promises real-time transactions with zero slippage: the difference between what you expect to pay and what you end up paying. This is potentially a game-changer for the multi-billion dollar payment gateway market.
How does Utrust work?
Utrust works much like PayPal. Buyers can check the websites of merchants to see if they have integrated Utrust as a payment option. If this is the case, the buyer can make a payment in fiat currency along with a combined commission and conversion fee of 1%, though the conversion fee is non-existent if UTK is used for the payment. Otherwise, the platform carries this combined fee to convert cryptos into fiat currencies like GBP and USD in real-time at the best possible conversion rates.
When the buyer completes their payment through Utrust, it is converted into cryptocurrency and held in escrow – a third party – until the transaction is deemed complete. The payment is then released to the seller in the form of fiat currency, and the seller can withdraw it or convert it to a different cryptocurrency. In essence, Utrust harnesses the power of cryptocurrencies to make transactions more convenient, flexible, and suitable for buyers in a new digital age.
How to buy UTK online – a step-by-step guide
Step 1. Find an exchange to purchase UTK
If you are wondering where to buy UTK tokens, cryptocurrency exchanges are a good way to get started. These are platforms that support a wide variety of coins and tokens and function much like a conventional stock exchange. To save you some time, we have listed two of the best exchanges to buy Utrust tokens below:
- Binance: Binance is one of the world’s largest crypto exchanges and is one of the best exchanges to buy UTK tokens. Open an account with Binance and start buying Utrust today >
- Bitpanda: Bitpanda has a clean, user-friendly interface and supports a wide variety of cryptocurrencies. It is also one of the best places to buy UTK tokens. Register with Bitpanda and purchase UTK tokens now >
Step 2. Sign up and fund your account
Everything starts with creating an account. This usually involves some form of identity verification check, and you often need to provide a copy of your photo ID. Once you have passed this check, it’s time to fund your account.
Most exchanges now accept funds in the form of fiat currencies like GBP, USD, and EUR. However, if you’d rather buy Utrust with Bitcoin, go to a Bitcoin exchange like Coinbase and buy some Bitcoin. Load the funds into your exchange account, and you’re good to go.
Step 3. Buy UTK
Now the funds are in your account, you need to know where to look. To buy Utrust tokens with GBP, go onto the exchange and look for the UTK/GBP pair. If your account is funded by Bitcoin, look for the UTK/BTC pair, choose the amount you want to exchange and execute your transaction.
Step 4. (Optional) Get a suitable wallet
If you want to hold onto your UTK tokens for an extended period of time and speculate on long-term price increases, you should consider opening a Utrust wallet. This wallet functions just like a Bitcoin wallet, except it is designed to allow you to store UTK securely.
If you don’t want to hold UTK for the long term, a wallet will most likely not be necessary, because most exchanges allow you to store your tokens in your account. However, if added security is a must for your financial needs, consider opening one of the two recommended UTK wallets below.
- Trezor: Trezor was the first-ever hardware crypto wallet and its supports UTK tokens. Trezor stores coins and tokens offline, meaning they are extremely secure and protected from online attacks. Open a Trezor Wallet and store Utrust tokens now >
- Ledger Nano S: As one of the most popular hardware crypto wallets around, the Nano S is an affordable solution to securing your UTK tokens. Purchase a Ledger Nano S and store your UTK tokens >
How to trade UTK – a step-by-step guide
Step 1. Find a broker
To trade UTK, you need to open and close positions quickly to capitalise on short-term market fluctuations. Online brokers make this easy and convenient.
When choosing a broker, make sure it supports UTK because otherwise, you won’t be able to trade it. Utrust is a growing platform, but it remains quite small, so not every broker will support UTK tokens. If any online broker is likely to support UTK, it will be one of the largest like Plus500 or eToro; these two platforms support a wide range of coins and regularly add new supported coins. If you want more options, check the table towards the top of this page.
Step 2. Deposit money
Brokers allow users to fund their accounts with fiat money like GBP, USD, and EUR. Before you lock in any trade, make sure you are satisfied with the trading fee, which can vary from platform to platform.
Step 3. Decide how you’d like to trade
For the best trading results, develop a strong technical trading strategy that takes into account the key technical indicators. An awareness of these indicators can help you spot price trends as they happen leading to meaningful rewards.
Step 4. Start trading
Now your account is verified and funded, it is ready to trade Utrust tokens, but your level of experience should affect what happens next. If you are an inexperienced trader, we highly recommend opening a demo/trial account first. This will allow you to learn about market mechanisms and dynamics before you put your own money on the line.
Trading with leverage is a major consideration for UTK traders, because it will allow you to gain more exposure to the price of UTK. However, remember this also applies to downtrends and can magnify your losses, so only opt for leverage if you have sufficient experience and are comfortable with the increased risk.
You can go long or short when trading UTK. Going long means you have invested in UTK in the belief it will rise in value, whereas going short means you believe it will fall in value. Both techniques can be profitable, so make sure you take your time considering which one to opt for. Once you feel ready to trade UTK tokens, remember to never trade funds you can’t afford to lose and get started.
It is only natural to need time to ponder any potential investment. Here is a list of pros and cons for the Utrust platform to help you make up your mind.
- Makes buying with crypto simple. Buyers not limited to one crypto and new coins are added all the time
- Reduced risk of fraud thanks to blockchain technology
- Minimal commission fee for sellers
- With every successful transaction, supply for UTK reduces
- CEO, Sanja Kon, was European Partner of Development at eBay and Head of Marketplaces and Large Enterprises at PayPal
- Utrust Wallet replaced by updated HOLD app
- Because Utrust is young, it hasn’t yet secured much engagement from major buyers or sellers
- Payment widget and mobile wallet still require more development
- No plan for what will happen when 100 million UTK tokens are left
- Potential issues solving conflict between buyers and sellers
If you’re still not ready to invest in UTK, here are several additional considerations for you to make.
1.) Is now a good time to buy UTK?
If buy into a long-term growth thesis for the Utrust platform, it is always a good time to invest. The online payments industry is enormous, and as Utrust begins to establish new contracts with major merchants, the platform could easily increase its market share, driving up the value of UTK tokens.
If creating short-term value is your priority, the long-term vision for Utrust isn’t as important as the immediate UTK price outlook. Focus on technical indicators and adopt an observant strategy to maximise returns by purchasing UTK low and selling it high. Volatility can sometimes be your friend.
Whatever your approach, you need to stay informed about Utrust, and that’s where Invezz comes in. Check out our latest analysis of Utrust and UTK tokens below:
UTrust (UTK) price prediction for February
2.) What problem does Utrust solve, and what are Utrust’s investment prospects?
Utrust provides a compelling payment solution that incorporates all the benefits of crypto and modernises the online payments sector. Users can enjoy the benefits of flexibility and decentralisation on offer and the entire process is made simple. If Utrust can establish itself as a company to be taken seriously by securing adoption across some major platforms, its growth could accelerate, resulting in its native UTK token rising in value.
The main challenge for Utrust is quashing any teething issues, refining its payment widget and mobile wallet, and securing widespread adoption. If it can tackle these issues, Utrust could be poised for significant growth.
If you want to find out the latest news about Utrust and UTK tokens, check out one of the links below:
3.) Do you want to hold UTK for the long term?
If you plan on holding UTK for an extended period of time, there are some key considerations you should make, and the same can be said if you plan on trading UTK in the short-term.
Considerations for a long term investment strategy
Focus on the fundamentals and trust in your own valuation of Utrust and its potential. Conduct due diligence and analyse Utrust’s business model closely. Once you feel ready to invest in Utrust, choose an exchange to buy UTK tokens and consider opening a wallet for an added layer of security.
Considerations for a short term trading strategy
Focus on the key technical indicators and form a good technical trading strategy, much like if you were to trade a different cryptocurrency like Bitcoin. Once you feel ready to trade UTK tokens, sign up to a broker with low fees and get started.