UTT, a token issued by United Traders, now trades on UTEX paired with the US dollar and can be bought and sold freely.
UTT’s biggest advantage for UTEX users is that it enables you to pay exchange fees at a discount. The standard commission on a cryptocurrency transaction is 0.2%, but you will pay half as much — 0.1% if you pay with UTT tokens.
A similar discount applies to futures trading: when you pay with UTT, the commission on such transactions is 1.5%, instead of 3%, the standard fee.
You must have enough UTT tokens in your account to pay commissions at reduced rates. You also need to make sure you activated the required feature on the trading page.
How it works
Suppose you have one UTT token in your account, and its current price is $0.3. You buy $150 worth of bitcoin on UTEX. The transaction fee will be $0.15 in UTT tokens (0.1%), instead of $0.3 if you pay with dollars. At the moment you pay the reduced fee, you will automatically have 0.5 UTT tokens deducted from your account, and you still have 0.5 UTT left over.
Calculating UTT price for commission
When you pay commissions, the UTT price is based on the token’s current price on UTEX. You can see every transaction of tokens deduction for fee payment in the "History" section.
If you have UTT tokens on HitBTC exchange or in your unitedtraders.com account, you can transfer them to UTEX and get discounts on commissions too.
To buy UTT to pay less for your transactions, go here.