MindArk is pleased to introduce Utrust as a new deposit method for Entropia Universe. Digital currencies through Utrust are now available to be used as a regular deposit method.
“Allowing our customers to use cryptocurrencies to deposit into their Entropia Universe accounts has been part of our long-term strategy. The Utrust system fits with our business model which facilitates fiat money transfers to avatar accounts.” – Henrik Nel, CEO.
With Utrust, Entropia Universe participants can now add funds to their avatar accounts using cryptocurrency. The unique real-cash economy of Entropia Universe allows participants to fund their avatars’ activities for entertainment or to build their own businesses inside the unique MMO game experience of Entropia Universe. The Entropia Universe currency (PED) is tied to the value of the real-world USD at a rate of 10 PED to 1 USD.
Utrust is available for transfers of 5 USD or more in digital currencies.
Ok, getting money INTO the game isn’t the problem. Being able to have access to your money a little sooner than a quarter of a year after requesting it would be nice. Lol
How’s the search for a new EU cash card coming along? That was a nice thing to have for the 15 minutes it lasted way back in the day lol
Ah well, accepting crypto… Cool… Good for Bitcoin adoption… Thanks for that. Rather keep my Bitcoin and give you guys the fiat though lol
Not available in the USA according to Google Play store. No withdrawal ability. It’s a nice step in the right direction to consider cryptocurrency but without these features it’s completely useless to me.
Interesting. Anyone tried to deposit utrust token yet? I’m wondering what exchange rate EU are offering or is it a fixed rate?
So UTrust is an ERC-20 token (bit like shiba) I hear it’s not on coinbase, but it is on the Binance exchange. Current price £0.18 year high £0.68 (not checked in dollars).
“If” EU are accepting at “live” current exchange rates to the dollar, then the risk is with the value of the token. Although I’m interested what rate MA convert.
For those considering speculating on the token, we don’t know how long MA will play along. MA could pull the drposit option at zero notice. Then you could be stuck with a ton of useless tokens.
Very interesting. What I find here is lack of communication.
It is needed to explain in more detail about this company and this way of depositing.
When I read like this, where I am not into crypto I tought it was something different until friend explained to me.
Next up is withdraw and we will see some insane in- and out- cash. Bet will be hard to follow and will need a system (or not) to follow all that up
Well good job for now! ??
Right, because of this:
“The Utrust system fits with our business model which facilitates fiat money transfers to avatar accounts.” – Henrik Nel, CEO.”
Which means it must fit with MA’s policy first. So MA have to change their policy else it will be like this for ever ?
To clarify regarding the Utrust deposit method; Using Utrust, Entropia Universe participants can transfer funds in Bitcoin, Ethereum and other crypto currencies from their existing crypto wallets to Entropia Universe PED. It is also possible to use Utrust in the Entropia Universe Webshop checkout.
I think this kind of cash game economy is needed to have a time frame for withdrawals because of money laundring, withdrawal system in my oppinion wont be changed.
Can you clarify if MindArk received dollar on their account or crypto upon crypto deposit ?
Also I am noob in crypto world, can someone explain me what are the potential legal issues when it comes to money source, or what’s potential of money laundering via this payment method? Can this backfire to MindArk if someone made his bitcoin by selling weapons and drugs and such ?
