The Utorg.io exchange considers miners a very important audience for themselves. Therefore, trying to create the best conditions for them. Which ones – let's understand.
The young exchange Utorg.io began with the fact that it has established itself as a convenient partner for online cryptocurrency exchangers. Exchange services automatically buy here Bitcoin (BTC), Ethereum (ETH), and more recently, Tether (USDT). This creates demand and accordingly increases the sale rate of these cryptocurrencies on the site.
Moreover, ETH and BTC are traded here not only against the dollar, but also directly to rubles and hryvnias. At the BTC to ruble exchange rate, Utorg is still steadily holding the first place among all exchanges working with Russian currency. According to the service Truebtc.io , which monitors bitcoin against ruble exchange rates on the exchanges, taking into account all fees, it is possible to sell BTC on Utorg at the publication date by 19,000 rubles more profitable than that of the nearest competitor.
This is achieved not only due to the high exchange rate, but also due to low commissions for the withdrawal of the ruble and hryvnia to the cards of Russian and Ukrainian exchanges. Moreover, if it is now difficult to surprise someone with a low commission for the withdrawal of the hryvnia, then withdrawing the ruble to the card for 1.5% is currently impossible anywhere. None of the exchanges at the time of publication came close to this indicator.
Management of the exchange gives an explanation of this situation directly in their social networks. According to the administration, they provide counter services to payment systems, which allows you to set off part of the commission. As a result, users do not have to pay the entire cost of the withdrawal operation.
Perhaps other exchanges will resort to such a trick and we will finally see the “human” commissions not only at Utorg. But as explained by a representative of the Octocash payment system, which works with this exchange, there is simply not enough negotiating talent here. To offer payment services interesting products, the exchange must have significant technical capabilities.
Technology solves
The fact that the technological equipment of exchanges is becoming a key competitive advantage is increasingly mentioned. A large number of sites operate on the market, which sought to enter the market as soon as possible and did not care much about their technological platform. If only it worked, and then we'll figure it out. But I can’t figure it out, because the architecture or the stack does not allow it. Now they can’t quickly adapt to market changes and introduce new functionality.
Against this background, exchanges come forward that are not in a hurry and thoughtfully approached their architecture. Utorg is one of those. Zerohub was responsible for the technical solution . She is known for being the first to use micro-service architecture for cryptocurrency exchanges.
Utorg is built on the same principle. In this architecture, micro-services are independent of each other. Each of them can be suspended or updated without affecting the performance of the exchange as a whole. Thanks to this, the exchange is insured against any overload. But, most importantly, it allows you to implement new functionality right on the go. Therefore, the exchange is constantly evolving.
For a short time Utorg managed to bring out a fully functional mobile version, introduce support for Segwit, offer users USDT.
Recently, IOU Desk has appeared at Utorg – a platform where the rights to not yet issued tokens are traded. The exchange buys from large funds their packages of rights to tokens of promising projects purchased in closed rounds or early ICOs. These rights are tokenized and offered to users in the form of IOU tokens. When real project tokens are issued, the exchange transfers them to the holders of such IOU tokens.
Among other things, the team managed to create a very convenient and ergonomic trading terminal. On the one hand, there is nothing superfluous, on the other hand, there is everything necessary for technical analysis and advanced trading.
Meeting people
At first glance, Utorg looks too perfect. There must be a fly in the ointment. And she is. At the moment, there are only 3 cryptocurrencies on the exchange, including tether. And this means that they can’t mine exotic coins. So far, they will have to be mined and stored on major world exchanges, where they will be sold for BTC or USDT and transferred to Utorg , so that they can be transferred to fiat from there.
The exchange administration is working on expanding the list of altcoins. To do this, conducts research on the most popular coins in the Russian-speaking segment. In particular, they study which coins our miners mine the most. So they are going to leaf through primarily what is most in demand.
In general, much attention is paid to user preferences on Utorg. Now, for example, they are conducting a lot of testing, each of whose participants is given half a year of work without commissions. For this, they ask me to forgive all the basic processes – input, withdrawal, bidding, KYC and, as a result, fill out a questionnaire. Anyone can take part and everyone's opinion is taken into account.
Bring to zero
The exchange is developing and most likely will offer more than one interesting solution. But we are primarily interested in the sale of crypto and access to fiat. To do this, Utorg has a wide selection of payment systems. Here is everything that is most in demand – Qiwi, Yandex, Advcash, Perfect money, a whole set of smaller electronic wallets and of course Visa and MasterCard. All this with low commissions.
But you can withdraw money from Utorg for free. There is a Ucode exchange voucher for this. In exchangers it can be sold on a bank card with a symbolic commission. But the P2P exchange market is already developing, where users simply change codes for money without any surcharge.
It turns out that if you take advantage of the offer and participate in testing, you get half a year without commissions. And for output, use Ucode, you can sell your crypto at a good rate, do not pay anything for it and at the same time remain anonymous.
Publication date 08/30/2019
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