What is WeTrust (TRST)?
Future of TRST Cryptocurrency and know how to buy TRST

#1 – What is WeTrust?

WeTrust: The Basics

  1. WeTrust is a decentralized savings, lending and insurance platform existing on the Ethereum Blockchain, which promises in its whitepaper to be autonomous, agnostic and frictionless in its use.
  2. The cryptocurrency aims to improve financial inclusion all over the world by eliminating the need for a “trusted third party” using blockchain technology, thus reducing fees, improving incentive structures and allowing a larger share of the capital to be with its users.

WeTrust Development

  1. The WeTrust website lists 3 founding members and many advisors. WeTrust has a strong team, with the CEO having experience in Google’s Business Operations and Strategy Team, and as a consultant with McKinsey & Co. where he advised senior executives on operations strategy, growth strategy, etc.
  2. The CSO Patrick Long worked in Finance at RMS and in Assurance Services at Ernst and Young before WeTrust. The R&D VP Hoang Nguyen also has an impressive CV, having worked at PayPal as Senior Software Engineer and at UC Berkeley as a Researcher before joining WeTrust.
  3. WeTrust also boasts of an impressive list of advisors, with Ethereum founder Vitalik Buterin, Fenbushi Capital founding partner Bo Shen and OpenBazaar Founder & CEO Brian Hoffman topping the list.
  4. Its other advisors include Benedict Chen and Emin Gun Sirer as Blockchain Advisors and Michael Casey as their Fintech Advisor.

source: WeTrust Website

 

#2 – What are the advantages of WeTrust?

WeTrust Technology

  1. WeTrust is a platform for a variety of reciprocal aid based financial services, like peer-to-peer lending, insurance services and mutual funds.
  2. Its first (and currently only) dApp is a platform to create and manage Rotating Savings and Credit Associations (ROSCA), in which members contribute a fixed amount at pre-decided intervals into a communal pot, and one member receives the full pot during every interval. The member to receive the pot is decided either randomly or through a reverse bidding process.
  3. Winners of the pot are removed from the selection process until all the members receive the pot exactly once, to keep the system unbiased and fair.
  4. Through WeTrust, members can create, manage and customize their own ROSCAs on the Ethereum blockchain. ROSCA agreements are coded using Smart Contracts.

Use Cases

  1. As of now, WeTrust has only one product for Trusted Lending Circles, the “ROSCA”, which allows a group of people to save money consistently.
  2. Other projects like one for Credit Identities, a Loan Portal and Mutual Insurance are in the pipelines for the WeTrust cryptocurrency, but they are not on WeTrust’s roadmap as of yet.

 

#3 – How to buy and store WeTrust coins (TRST)?

How to buy TRST

WeTrust tokens (TRST) are available for exchange on seven exchanges, where you can buy them for Bitcoin, Ether, Tether and Bancor coins (on Bancor Network). Exchanges include Liqui, Bittrex, Livecoin, ForkDelta, HitBTC, Bancor Network and Idex.

Livecoin accepts USD as a fiat currency, in addition to cryptocurrencies like Ether and Bitcoin, in exchange for WeTrust tokens.

  1. The exchanges mentioned above are only platforms on which you can trade TRST, but prices of the tokens differ slightly on each of them. CoinSwitch, the best cryptocurrency exchange out there, helps you choose which platform to buy from. Supporting more than 140 coins and 45,000 pairs of cryptocurrencies, it displays the prices of WeTrust tokens on the exchanges it’s sold in, all at one place, helping you compare the exchanges. You can choose any pair you want with your token, and choose the best deal with the help of CoinSwitch!
  2. What’s more - with CoinSwitch, you do not need to create wallets on the exchange you’re buying from. Instead, all transactions can happen to and from your very own private wallets.

TRST Storage

  1. Being on the Ethereum platform makes TRST capable of being stored on any of the numerous Ethereum wallets around.
  2. Hardware wallets are the safest wallets to use, and Ethereum and other tokens on its blockchain are compatible with Ledger Nano S as well as Trezor.
  3. Exodus and Mist are Ethereum’s desktop wallets, compatible with Windows, Linux and MacOS.
  4. Jaxx, another Ethereum wallet is compatible with Windows, Linux and Mac PCs, Android and iOS mobiles, as well as Chrome and Firefox web extensions.
  5. MyEtherWallet is Ethereum’s most popular Web wallet, and ETHAdress is one of the paper wallets compatible with ERC20 tokens.

 

#4 – What is the future of WeTrust?

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Market Cap and Global Acceptance

  1. WeTrust conducted an ICO from March to April 2017, earning about $ 4.66 million USD through the sale of their tokens. 10 % of this amount is being kept as “founder’s reward”, but locked for 2 years to incentivize development in the project.
  2. The token distribution is as follows:
    1. 80 million to funders, sold during the ICO
    2. 2 million in bounties
    3. 10 million reserved for founders, and
    4. The remaining 8 million for future contingency
  3. The current circulating supply of WeTrust tokens (TRST) as of July 2018, is about 92.15 million TRST, which is more than 90% of the total (maximum possible) supply of 100 million TRST tokens. TRST has a market cap of about $ 4.13 million USD, with a value of about $0.045 per TRST as of July 2018.

Also Read: Complete Analysis of WeTrust | Live WeTrust (TRST) Price Charts And Predictions

Price History

Date

Open

High

Low

Close

Volume

Market Cap

Jul 03, 2018

0.046475

0.047228

0.045902

0.046052

103,767

4,282,560

Jul 01, 2018

0.044702

0.04496

0.044075

0.044599

1,02,398

41,19,170

Jun 01, 2018

0.080712

0.080824

0.073498

0.075141

1,91,078

74,37,450

May 01, 2018

0.280959

0.280959

0.263967

0.273973

2,87,652

2,58,89,700

Apr 01, 2018

0.150977

0.152213

0.141926

0.147114

1,48,724

1,39,12,200

Mar 01, 2018

0.308937

0.334403

0.301043

0.328241

2,66,487

2,84,67,800

Feb 01, 2018

0.572091

0.616188

0.423311

0.452774

4,53,901

5,27,16,700

Jan 01, 2018

0.668718

0.752015

0.62974

0.730214

13,98,870

6,16,20,700

Dec 01, 2017

0.366968

0.388022

0.340423

0.367106

7,98,681

3,38,15,200

Nov 01, 2017

0.260275

0.300429

0.241504

0.253363

5,34,911

2,39,83,700

Oct 01, 2017

0.390427

0.401243

0.342532

0.345894

7,91,061

3,59,76,900

Sep 01, 2017

0.266171

0.455897

0.263735

0.418511

34,29,800

2,45,27,000

Aug 01, 2017

0.128637

0.157755

0.127249

0.151162

1,73,979

1,18,53,600

Jul 01, 2017

0.256688

0.259054

0.215496

0.222102

2,37,014

2,36,53,200

Jun 01, 2017

0.267919

0.267919

0.223105

0.237321

4,36,972

2,46,88,100

May 01, 2017

0.203567

0.2084

0.172276

0.202448

5,04,140

1,87,58,200

Apr 20, 2017

0.075119

0.081401

0.075119

0.078306

1,65,713

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Trends so far

  1. For such a new cryptocurrency in the market, WeTrust has been quite volatile, though its value has never gone above $2 per TRST token. At the time of its launch in April 2017, TRST had a value of about $0.078 per token. It has, however, spanned a range from its minimum of $0.0416 in June 2018 to a maximum of $1.33 (reached in January 2018). Its current value is close to its minimum, priced at about $0.045 USD per token as of July 2018.
  2. Despite its relatively high circulating supply of close to 100 million TRST tokens, WeTrust stands very low in global rankings in terms of market cap due to its extremely low individual price. Its current ranking is 624, as of June 2018.
  3. The low market cap of course, doesn’t eliminate the fact that WeTrust has potential. Its peer-to-peer lending service is just the first one in a list of services, and development of the others will start after the ROSCA product is fine-tuned.
  4. Moreover, its low individual price indicates that there’s nowhere to go but up for the currency!

 

#5 – What makes WeTrust different from other cryptocurrencies?

  1. WeTrust is set apart from other platforms on the crypto space by its goal of financial inclusion at a global level.
  2. It’s much more than just another digital currency to invest in, and focuses on reducing fees and other hassles arising out of a dependence on third parties in its peer-to-peer lending goals.
  3. It is also made unique by the fact that rather than starting off all its projects at the same time, WeTrust has put all its resources and focus into developing its first product before branching into its other, more diverse projects.

 

#6 – Should you invest in TRST?

  1. Things certainly don’t look good for WeTrust if you look at it in terms of its market cap and current valuation. Its low individual price outweighs its high circulating supply, putting WeTrust below even the 500th rank worldwide.
  2. This current dip in prices can, however, be viewed as an opportunity since investing in the currency is very unlikely to rob you of your savings. It has big dreams and goals, and plans to branch out into mutual insurance, loans and credit identities in the future, making it a platform worth investing in.
  3. Additionally, its goals are noble, aiming to help the needy and increase global financial inclusion. Its ROSCA platform is already helping WeTrust realise the goal, and the future projects planned will take it further.
  4. Of course, another factor favouring WeTrust is the fact that it seems to be facing a major dip in mid-2018, which may indicate that its prices may be due for some upwards correction in the future.
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