UCOIN x Satoshi Club AMA Recap from 5th of April

Hello, Satoshi clubbers! Another AMA took place in Satoshi Club . We would like to introduce to you the AMA session with our friends from UCOIN and our guest was Pedro Viera who is CEO of the project. The AMA took place on 5 April.

The AMA session was divided into 3 parts with a total crypto reward pool of 500$

In this AMA Recap we will try to summarise the most interesting points for you.

Part 1 — introduction and questions from the Telegram community

Gold Rocket | Satoshi Club: Hello, dear community!

We conclude our today’s AMA marathon series with UCOIN.

Today our guest is @pedrovierapr!

Andrés M. | Satoshi Club: @pedrovierapr welcome to Satoshi Club, it’s an honor for us to have you here😃

Pedro Viera: Hi Dear community!

Andrés M. | Satoshi Club: Hi, how is going your day?

Gold Rocket | Satoshi Club: Hello and welcome to Satoshi Club, @pedrovierapr!

We are very glad to conducting AMA with UCOIN!

Andrés M. | Satoshi Club: @pedrovierapr please tell us a short introduction about you😁💪

Pedro Viera: Hello, it is an honor for me to share the project with you today!

Gold Rocket | Satoshi Club: Introduce yourself please. How did you get to be involved in crypto & UCOIN?

Tell us please about yourself and your position in UCOIN.

Andrés M. | Satoshi Club: [ 🤗 Sticker ]

Gold Rocket | Satoshi Club: We are also very excited about the upcoming AMA.👍

Pedro Viera: My name is Pedro Viera.I’m the CEO of UCoin. I have over 30 years of experience as a business executive in the private and non-profit sectors, manufacturing, banking, housing, construction and development, education, start-ups, among others.

Gold Rocket | Satoshi Club: great background👍

Andrés M. | Satoshi Club: Great experience, un placer que estés aquí Pedro 😁👍

Gold Rocket | Satoshi Club: What is the essence of UCOIN?

Pedro Viera: Bassically, we have the vision of facilitating the access and use of cryptocurrencies to all people, without the need to be experts in crypto.

👍

Gold Rocket | Satoshi Club: Mass adoption!

This is very promising!

Pedro Viera: Exactly!

Gold Rocket | Satoshi Club: Thanks a lot for the intro! Do you want to add something or can we proceed to the questions from Satoshi Club community? 🚀

Pedro Viera: Of course! Our team and I are working really hard to achieve that!

I think we can start with questions from the community…

Q1 from Telegram User @lukacy

I love the fact that ucoin different from other coin is a new generation financial solution that is not based on only technology network of users but also on real assets. That would surely make the currency stable and better. But there is something not clear, you keep repeating real assets, please can you tell the assest it would be based on?.

Like we know about others like Tether (USDT) which is Fiat currency-backed, Digix (DGX) – Gold-backed Petro (₽) – Physical Reserve-backed and so on.

Pedro Viera: The currency will be developed into a business ecosystem that individually has an impressive potential, which will positively influence to make the currency more stable and better. You can read about each of our features, mainly Ubis, Utransfer which are currently in the final stages of development.

Andrés M. | Satoshi Club: Thank you so much, something else to add or do you want to go with the next question?

Pedro Viera: Let’s move on

Q2 from Telegram user @Winner_don

Your project is really amazing with nice privileges for ucoin holders. For those that don’t know there is the Ubis, Utransfer and the UCustody. The Utransfer platform is it all countries that would be able to use it since different countries have different remittance policies? The Ubis also, i noticed that the only supported currencies are cryptocurrencies which is okay, do you have any program on ground to educate people about your platform?

Pedro Viera: There are a lot of questions in here!

Thanks for your opinion about the project, we have designed a business model that gives a lot of benefits to our holders and give them the best experience.

With Utransfer we expect to provide worldwide services, we have planned different implementation stages, initially, we will start with Hispanic audience, and then we will progressively include more sectors to work with the respective remittance policies of each country.

Regarding Ubis and its use, in the content we publish we try to include educational content to inform the audience in this sector. very soon we will start with content about the operation of the platform, despite the fact that it is currently a friendly and easy-to-use platform.

Andrés M. | Satoshi Club: Amazing news for the hispanic community, there is a lot of crypto users

Gold Rocket | Satoshi Club: Thanks for your answer! ready for the next question?🚀

Andrés M. | Satoshi Club: 🥳🥳

Pedro Viera: Of course, in addition, Hispanic community it is a great market for remittances that we will integrate into the world of cryptocurrencies.

I’m ready!

Andrés M. | Satoshi Club: I’m happy to know an hispanic project

Q3 from Telegram user @MaxiVV

The token sale is dated up to this year (2021) and it has different bonuses according to the quarter of the year that you acquire the Coin token. Why is your token offering in 4 rounds specifically? Why does it have different bonuses and not the same for the four rounds? Is it a better strategy for the allocation? In which platform will be and what currencies will be accepted?

Pedro Viera: Yes, we are now on the 4th presale round and it will be over in June. We designed it in that way so the users who bought early were able to earn more tokens according to the round. Each round lasts one quarter. Initially the pre-sale round was available only in Ubis, later Stex, soon Latoken and more will be added along the way. People can buy from anywhere in the world through the different payment button options on Ubis Platform.

Andrés M. | Satoshi Club: How to buy? Could you give us a link to the platform?

Pedro Viera: Sure, here is the Ubis Link https://ubisplatform.com/index.php/register

Andrés M. | Satoshi Club: Thank you Pedro, ready for our next question?😃

Gold Rocket | Satoshi Club: Thank you very much for your answers! Ready for the next question?🚀

Pedro Viera: Yes, we can continue with the next question…

Q4 from Telegram User @Brainchest

I don’t quite understand what you’re promising under cross-border transactions?

Will I really be able, thanks to your service, to transfer rubles from Russia to America without paying commission?

How will this be done?

Fiat is transferred to UCOIN, and then from UCOIN to dollars, but this is a fee for transactions within ERC network? Where am I wrong please tell me?

Pedro Viera: We are working on finding the best way to offer the best fee prices in the market and especially to UCoin users. as you were saying, there actually is a fee for these transactions, (the ERC or fiat network), but we want to offer the smallest price possible by using blockchain technology to make the process cheaper, fastest, and most secure.

And BTW we have been working on building an internal private blockchain to improve the Ubis transactions and keep making it better for our users.

Gold Rocket | Satoshi Club: Thanks for the clear answer! Are you ready for the next question of this part АМА?

Pedro Viera: Yes, let’s proceed with the next question

Andrés M. | Satoshi Club: Let’s go🥳

Q5 from Telegram user @senewe10

“UCoin is based on providing the most reliable blockchain technology

ecosystem with unmatched strength, transparency and security. ” How do you keep your platform safe for Investors and is your platform guaranteed to be protected from hackers AND what makes investors, customers and users feel safe when working with UCOIN?

Pedro Viera: Ubis currently works in a certified datacenter with a bank through Utransfer. We are also working on a data center with a perimeter firewall, in order to improve security and continue to improve it as the days go by.

Andrés M. | Satoshi Club: The platform has been audited or is in process to be? It is a great way to increase the security

Pedro Viera: We already have been audited but we are working on improvements…

Andrés M. | Satoshi Club: That’s great, users security first 💪

Would you like to add something before the next question?

Pedro Viera: Yes, we are always thinking on users.

Andrés M. | Satoshi Club: Great work, btw could you share us links to your communities?

Pedro Viera: Sure, you can find more about Ucoin in our official channels https://linktr.ee/ucoin

Andrés M. | Satoshi Club: Thank you, Satoshiclubbers let’s join

Gold Rocket | Satoshi Club: Are you ready for the final question of this part?😉 @pedrovierapr

Pedro Viera: Great idea! , so they can stay tuned on our communications

Yes, let’s continue with the next question…

Q6 from Telegram User @garrinepotter

In the roadmap, you mention the creation of the International Digital Bank. How will it differ from a regular safe deposit box?I want to understand why I should choose your bank for storing cryptocurrencies, if I can put my ledger or just a sheet of paper with secret phrases in an ordinary bank in a cell. What advantages can International Digital Bank have? This can be called decentralized storage?

Pedro Viera: Yes, we have been working on getting licenses for our international financial entity (IFE) so we can operate and integrate other features from the ecosystem that should work interconnected to merge. This is a difference between other banking services.

Andrés M. | Satoshi Club: I should recognize that you have a great project Pedro. Btw, how big is your team?

@pedrovierapr and please prepare yourself because second part of the AMA is coming😁, we will open the chat and community members will post their questions, you have to choose your 10 favorites and answer them. Are you ready to go?🥳🥳

Pedro Viera: Thanks for your comments about the project, we started the project just with the development profiles, and then the team started to grow and now we have marketing, creative, operations&management, project management, and of course the IT team. Also, we have been working with advisors to support the project.

Ready!

Part 2 — live questions from the Telegram community

Q1 from Telegram user @Andrey_Seleznov

ERC20 fees are killing the ecosystem, how do you plan to alleviate the situation to make sure users will not have to pay tens or hundreds of ucoins per transaction? It is safe to assume fiat users will not switch to blockchain transactions if the fees will be higher

Pedro Viera: In agreement with you, to avoid the user having to pay high fees we have enabled the user to choose to carry out certain transactions in TRC20 considering that the fees are lower. In addition, we also develop a private blockchain for internal transactions in Ubis platform.

Q2 from Telegram user @KhaleesiTheCryptoLady

Can you share to us your roadmap? What are the upcoming plans and events that UCOIN currently preparing for the community especially for new users?

Pedro Viera: Sure, here you can find next steps an future plans for UCoin. We recently launched an IEO in Latoken and an Airdrop was launched in parallel. We will be announcing more activities in Stex soon so that our community can earn UCoin tokens and get involved in the project. We also plan to launch UTransfer for the first half of this year, we are working on strategic alliances and banking licenses to operate in as many countries as possible and thus contribute to the massive adoption of cryptocurrencies, which is our main objective. https://ucoincurrency.io/#roadmap

Q3 from Telegram user @highpee

One product feature you will have is Money Transfer (Utransfer) which will help in Keeping cross-border payments fees low, speeds high and easy access. Will it function similarly like other cross-border payment solution like PayPal, Western Union or MoneyGram? Will these payment support FIAT as well as cryptos? Are there are regions that will be limited from using this feature?

Pedro Viera: Actually, this is the beauty of our ecosystem, Utransfer will be working along with Ubis, so you can use your crypto balance to operate in Utransfer and make your cross-border payments.

as I was saying before, we are working on the first stage by now and we are planning to offer the lowest fees compared to others brands.

Q4 from Telegram user @feranno

Investors, of course, focus on earning more. Are UCOIN products really good investment tools? How do you persuade investors who are hesitant to invest in your project?

Pedro Viera: We are focused on offering a complete service to our users, so it can be useful to crypto and non-crypto users, and our features have been thought to work hand in hand with each other. we think that a project like this is urgently needed because currently cryptocurrencies are being applied to all sectors of the world and no one should be out of it.

we actually cant force anyone to invest, we only want to offer a promising project and the investors can make their decision on their own.

Q5 from Telegram user @Xusuo

Can you explain about UBIS platform, what is this platform use for in UCOIN ecosystem? And also I read you have program name UREWARD inside UBIS platform, is this same like refferal program?

Pedro Viera: Yes, our goal is to make Ucoin your everyday transactional digital currency so Ubis platform will allow users to perform different functions, such as storing their funds in the digital platform, sending and receiving currency, and most importantly, will allow access to your money anytime and anywhere. About Ureward, it’s our reward program you can find here many ways to earn tokens. https://ucoincurrency.io/ureward/

Q6 from Telegram user @Airborne19

Except AMA’s what is you other marketing strategies and what is your opinion about marketing results for now ?

Pedro Viera: We are actually having a great acceptance in the community and from here, we are planning on focus on PRs and attract more users from other social media. we have accomplished great results in the marketing area to date.

Q7 from Telegram user @Garinepotter

You take on very serious obligations to clients and most likely you should have enhanced measures to identify fraudsters. Tell us about how you check users who come to the platform and do you have legal support

Pedro Viera: We have established processes that allow us to identify the origin of transactions, transparency and legality. Users who make transactions on the Ubis platform must pass the 2FA and KYC to be validated by the platform.

Q8 from Telegram user @vedamatrix

Will I able to cash my money through ATM? I will I able to spend my Ucoin on supermarkets?

Pedro Viera: We hope to achieve these expectations that contribute to the massive adoption of cryptocurrencies. We are working on the integration of credit cards to UCoin Business Ecosystem and strategic alliances with commercial establishments so that people can use it.

Q9 from Telegram user @boylut

You said you have planned different implementation stages, but will start with Hispanic audience first, why Hispanic audience and not South East Asia? I feel crypto adoption is more higher in South East Asia than in any other region

Pedro Viera: Referring to UTransfer, the implementation would start with the Hispanic market since it is where the largest amount of remittances comes worldwide and we could add them to the cryptocurrency project. It does not mean that it is our main market.

Strongly agree with you, the audience from Asia is the one that has had the most adoption of cryptocurrencies, according to our marketing analytics we have had a considerable acceptance from Asia and Europe and we hope to reach this market with each of the UCoin Business Ecosystem features.

Q10 from Telegram user @csgonub

Other blockchains might be better alternative for UCoin to be built on as because the gas prices so high on Ethereum. But why did you choose erc20?

Pedro Viera: When we started building this, the Ethereum network wasn’t so expensive as now, and there were no many choices, but now that this happened, we are aware of this and we develop a private blockchain to work internally with Ubis and we are working on insert TRC20 too as an option because of their low fees.