What Are Utility Tokens?

Utility tokens are the internal cryptocurrency of a startup company, developed on the basis of the blockchain. Most tokens are based on the Ethereum blockchain, but other platforms can also be used. For example, Cryptounit blockchain, part of the Global Investment Portfolio Cryptounit, offers two utility tokens, CRU and UNTB

What are Utility tokens

CRU gives the right to receive funding and is designed for startups, existing businesses and Cryptounit blockchain users when paying for a personal business account that allows them to issue their own tokens and keep their records in compliance with the law. The UNTB utility token allows users to make transactions on the Cryptounit platform, is needed to pay commissions on an external exchange and gives the right to issue new coins and tokens. UNTB can buy you RAM (memory), CPU time and NET (bandwidth).

Utility tokens, also known as product tokens or user tokens, are digital assets that allow owners to access network services and products. They are mainly used to facilitate the raising of funds within the project, but unlike security tokens like WCRU, utility tokens do not give the right to own company shares.

Utility tokens are often used during an Initial Coin Offering (ICO) and are offered to the community of a particular project, usually within a few rounds. The owners of such tokens receive some value - they have the right to use the goods and services of development companies, including discounts, participate in additional bonus programs and receive other benefits. 

You can have similar privileges when using the functionality of the Global Unit Pay payment system. For example, there may be discounts for ordering a payment card. You can follow Global Unit Pay news on their official resources:

Global Investment Portfolio Cryptounit

UGPay Group AGGlobal Unit Pay, UnitEx exchange, Cryptounit blockchain and the Academy of a Private Investor are operating businesses that are part of the Global Investment Portfolio CryptoUnit.

Holders of the best security token WCRU are co-owners of this portfolio, which currently comprises more than 60 financial instruments from various segments of the investment market and has a valuation of over $11.6 billion, according to the independent evaluation of Crowe Global. Find out more about how to become a co-owner of the "Global Investment Portfolio" and obtain WCRU tokens.