Whether you are working in a web3 company or you are a freelancer enjoying cryptocurrencies, you certainly already asked yourself : how can I accept crypto payments on my website or for my everyday business ?
I found the solution : Utrust (that will become xMoney soon) and today we are digging it.
Utrust is a way for your business to accept crypto payments and receive fiat money. No digital currencies -complex- accounting. They do everything for you !
Why should you accept Bitcoin or Altcoin crypto payments ?
To begin, there are many reasons why you might want to accept crypto payments. Firstly, the general web3 ecosystem is becoming more mainstream every day. People across the world are jumping everyday in the Bitcoin rabbit hole whether they distrust financial institutions, states or even for pure speculation. As a business (freelancer or company) one should think about accepting crypto payments for several reasons:
- Offer flexibility to clients : Offer you clients several payment possibilities, adding cryptocurrencies on top of Paypal or Stripe payments for your clients is a new way to give them freedom. And crypto is about freedom.
- Being ahead of your competitors : We’ve seen that a lot of people are interested in cryptocurrencies these days so being ahead of your competitors in this sector could help you close more deals.
- Be young : Well this advice will not work for everyone but can make your brand or service look young and dynamic to clients. Proposing crypto payments today is like having a website before the 2000’s.
- Opening to new customers : There are a lot of customers across the world wanting to pay with crypto for services.
- Light speed : Wire transfers can take up to several days to transfer funds. Crypto payment and Utrust fiat conversion takes minutes.
Basically, you will take a giant leap ahead of your competitors. Accepting crypto currencies payments is the future and as a brand or small business you want to be in the future. With the generalization of online stores, people are buying and selling from every possible currency. Online payment providers have been guilty multiple times of keeping or even selling personal data online ! Once again, crypto fixes this.
What is Utrust simple solution for businesses to accept crypto payments ?
Utrust offers a state-of-the-art crypto currencies payment system for small businesses and companies. They have created a tool that can adapt to direct invoices or to several CMS (Content Management System read website creation tools like Shopify, Woocommerce, Prestashop or Magento).
With very simple to integrate widgets or B2B solutions (Business to Business) you can start accepting payments with over 8 different cryptocurrencies. Start accepting Bitcoin, Ethereum, USDT, USDC, Dash or EGLD in minutes with a simple to implement solution. With over 35 fiat money currencies conversion-possibilities, their app is really aiming for worldwide integration.
You can offer your customer a seamless experience in less than 5 minutes. So, how does it work ?
Utrust accepts cryptocurrencies from your customer and immediately convert it into your favorite fiat money. We all know that crypto currencies payments accounting is a shady and scary place for the moment so Utrust removes this difficulty. Then, cash will then be immediately transferred to your banking account (in minutes).
Additionally, you can keep track of your orders with an easy to use dashboard. You will be able to check transactions status, view orders and manage refunds.
See this video on how you can request a payment from a client through Telegram
With a fixed rate of 1% fees, Utrust is simply the cheapest payment processor ever. Most digital payment solutions fees are around 3-5%. So, you will be earning more money while opening your business to 300 million crypto users.
To begin, you just need to fill in the form here and you will be guided through easy to achieve steps.
Here is a video of the team showing from the customer point of view the payment process. Very easy and compatible with every existing wallets !
What is the Utrust solution for personal payments ?
For your personnel payments, Utrust uses the same solution. The Utrust wallet app will be your portal from crypto to fiat. Simply add crypto to your wallet and spend it like fiat money in various online businesses. I hope more and more businesses will implement Utrust as it looks so easy to buy with crypto !
Also they have their own in-house token, the UTK. This is an ERC-20 token that you will be able to stake and earn through the HOLD wallet.
What are the downsides of accepting payments with crypto currencies ?
Depending on your sector of activity accepting crypto payments can be seen strangely. Following the recent events (FTX and Alameda scam) it’s the whole web3 world that took a blast. Once again the decentralized technology has just worked perfectly well so remember it is the centralized entities that have shown the worst in humans.
Accepting cryptos can be seen as a scam to muggles because all they hear about are the events on the news. Also, some activity sectors are reluctant to adopt cryptocurrencies. Have you ever tried to ask a taxi driver what he thinks about Uber ?
Also, with the crypto-to-fiat conversion, we have seen that businesses are not affected by assets volatility, so it’s a no-worry for companies that have recurring fixed expenses
Sanja Kon has worked with several digital behemoths such as Ebay, Virgin or Vodafone. She is also a startup creation recidivist.
Nuno Correira graduated from MIT, he has been working in the fashion business and for Obvious Capital, a venture capital that is investing a lot in emerging crypto markets.
Roberto Machado is an investor, founder and advisor for a lot of companies in the web3 and web2 worlds.
In the Utrust’s advisor I have also seen Nick Ellis name who is working at Amazon Industrial Innovation Fund and is an advisor for a lot of successful startups.
This strong team is supported by the MultiversX team whose goal is to make cryptocurrencies go global with easy to use and understand tools.
What’s next for Utrust ?
In early 2022 the blockchain now named MultiversX (ex Elrond) acquired Utrust. With the recent rebranding of Elrond total ecosystem Utrust will soon be known as xMoney.
Keeping up the momentum of bringing financial freedom to both merchant and buyers, xMoney will scale over time. Adding value everyday transactions in a decentralized world. If you read this article you know that the goal of MultiversX is the massive adoption of cryptocurrencies and blockchain utilizations.
Shortly : Bring digital assets as the main currencies for ecommerce.
Review from xOpium :
Utrust has understood that for a massive adoption of digital assets, users need an easy to use portal. With a seamless experience, the team has invented a new safe, fast and reliable way to receive or spend cryptocurrencies.
To finish, let me quote a part of their Medium : “We are the bridge between the Internet’s native money and everything you could ever think of buying. This is the money of the future, and we’re bringing it to you right now.”