I took a listen to an interview that Nuno Correia, Chief Strategy Officer of UTrust, took with Crypto Crow. Crow may be a shill, I don't know, but he had the good sense to shut the hell up and let Nuno talk. This interview compared with the garbage given to us by legal scammer and Paypal CEO Dan Schulman is night and day.
Some of the most important jewels:
Shopify Integration
UTrust is in talks to integrate with Shopify, which will negate all of the nonsense that Schulman was talking about that Paypal is in the lead for convenience and reach in terms of crypto payments.
UTrust on Cardano?
Nuno also talked about the outrageous fees on Ethereum (UTrust is an Ethereum based project). Nuno said that he was open to migrating to Cardano, but not anytime soon. They, like everyone else, are hoping that Ethereum 2.0 is actually worth a damn. He did reassure the audience that the UTrust gateway is built to deflect all of the bullshit that the Ethereum network would otherwise cause.
Perhaps the only thing worse than the Ethereum network is the Paypal network. As a small business owner, I can tell you firsthand of the bullshit you'll go through on every level if you try to use Paypal. You'll get your funds frozen. You'll get the runaround if you have a problem. You'll get no customer service on weekends or late nights.
The Hold Wallet & Reverse Staking
UTrust is tailored as a B2B product, but Hold is meant to be a personal wallet. The wallet can exchange between wallets, comes with a Visa debit card and lets you integrate with your fiat account. The most interesting idea is the reverse staking mechanism, which rewards you for spending money instead of freezing it.
For instance, if you buy bitcoin using Hold, you get UTK rewards as well (a 1% kickback). Not bad. The kickback comes from the open market. The mechanism also avoids inflation when distributing tokens, meaning the UTK token shouldn't dump with more use.
So instead of locking up your bitcoin's private keys like Paypal, UTrust gives you free money when you use it? Is this even a competition?
Expanding Adoption
UTrust has already been doing quite well, but Nuno said that more merchants are coming. He welcomed the "challenge" from Paypal, because I think he knows that Paypal sucks shit. They're going to fuck up, and UTrust will be right there to pick up the pieces.
Basically, Paypal is garbage and siloes your crypto, and UTrust doesn't. With UTrust, you gain all of the functionality with none of the problems.
A Better Currency Basket
When asked why UTrust does not support Bitcoin Cash, Nuno said simply that there was no demand for its use. This to me says everything I need to know about why UTrust is better than Paypal. UTrust actually knows the crypto space and can best provide for it. Paypal just took the first 5 currencies it saw and said, "We support these." Idiots. No wonder businesses are already beginning to complain about Paypal's awful service.
If you need any other reason to stay the hell away from Paypal and curse its name to our heavenly Father, I don't know what to tell you. Go buy them bitcoin if you like. As for me, I'll be confidently investing in and using UTrust. UTrust is the future. Paypal is shit and should die.
