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[UMI] Universal Money Instrument - umi.top

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For its time, bitcoin and other first generation cryptocurrencies were a real breakthrough. They showed that people can build an alternative financial system that is more advanced than traditional banking. And in this they do not need the help and permission of governments.

Over time, it became clear that PoW blockchains are too imperfect. They do not scale well, are slow and expensive, and cannot be programmed with smart contracts.

Today Bitcoin is one of the slowest cryptocurrencies in the world — it takes about 10 minutes to confirm a transaction. And the commissions can be higher than the transaction itself. Coins with these characteristics are not suitable for simultaneous use by millions of people. Therefore, bitcoin and early cryptocurrencies failed to become the new «money».

But UMI can really do it!

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UMI is high scalability of the first level blockchain

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Neither Bitcoin nor Ethereum managed to solve the problem of blockchain scaling. One of the options for solving it was the creation of a second blockchain layer, on top of the first level. This is a rather complex system that offloads the entire blockchain and allows you to process more transactions without changing the code of the main network. In fact: this is a new fast system working inside an old and slow one.

In the Bitcoin network, this solution was the implementation of the Lightning Network - a second layer that allows transactions in special payment channels outside the main network. The technology allows you to increase the speed of Bitcoin up to 7000 transactions and save on fees. However, it is very imperfect, difficult to use and often leads to loss of coins. Coins can only be sent online. Both the sender and the receiver must be online at all times. If the second one is unavailable, the coins will be returned or lost. Therefore, the Lightning Network is not yet suitable for mass use.

There are several second-level solutions in Ethereum: Connext, Counterfactua, Fuel Labs, OMG Network, Optimistic Rollup, Raiden, Synthetix, Plasma, TrueBit. The last two are the most elaborated. They allow not only conducting transactions, but also launching smart contracts bypassing the main layer. Alas, these solutions are also difficult to use and not suitable for mass use.

Second layer solutions promised a revolution, but failed to fix the shortcomings of the first blockchains.

UMI went the other way and managed to create a scalable blockchain of the first level, which is faster and more convenient than the second level in Bitcoin and Ethereum!
 

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Cryptomats are a useful and convenient tool. It is not suitable for everyone and is not needed in all cases. Users who are not very concerned about their own privacy and who have access to banking services can do without them. 

But for those who value privacy, as well as owners of cryptocurrencies from developing countries and simply newcomers to the market, cryptomats can help out a lot. In any case, the more such devices work, the wider the adoption of cryptocurrencies will be. 

We remind you that in the future there will be cryptomats supporting UMI!

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The authorities of many countries often say that cryptocurrencies should be banned, as they are supposedly an ideal tool for criminals. In fact: criminals are hundreds of times more likely to use cash and bank transfers, but no one thinks about banning them too?

Cryptocurrencies are not as convenient for criminals as they seem. This is an unnecessary intermediary link. They still have to cash out, and to do it anonymously is more and more difficult — it is much easier to receive cash by courier or accept a bank transfer through «their channels».

In fact, it is more difficult to track cash transactions than with open cryptocurrency, since information about transactions in the blockchain is available to everyone!

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Who are Institutional Investors?

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Institutional investors are companies that trade and invest in securities. These are large financial and brokerage firms, banks, pension and investment funds, asset managers, insurance companies.

Institutional players are one of the most important participants in the traditional stock market. They account for up to half of the volume of all trade. They usually own the largest shareholdings and have significant market influence.

In the first years of the existence of the crypto market, institutionalists were afraid to enter it. And this can be explained - digital assets were then too young and incomprehensible tool. It seemed to many that all these coins would soon disappear somewhere or the regulators would simply ban them.

Unlike ordinary people, institutions cannot just take and buy bitcoin. Their activities are strictly controlled by the state. They have to keep records, invest only in legal assets, and for trading they need their own infrastructure. But gradually all this appeared on the crypto market, and now institutional investors are beginning to actively invest in the cryptocurrency market, ensuring its development and growth.

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UMI Marketing: Top Cryptocurrency Marketing Strategies

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When UMI was launched, people acquired a universal money instrument that allows for instant and secure transactions charged with no fees and independent generation of new digital money—with neither energy expenses nor powerful equipment. It has the potential to fundamentally change the financial system by making it more profitable and convenient for the entire human family.

The more people will learn about this cryptocurrency, the faster this idea will spread around the world. In other words, like any new product, UMI needs mass and maximum effective advertising.

UMI allows using the most efficient strategies, established by the crypto industry. This post is about marketing strategies we prefer and why.

Nonstandard approach to advertising

Over the years of its existence crypto industry has proved to be a unique field whose promotion requires unconventional methods—you can’t present cryptocurrency as primitively as, for example, you present a bottle of soda or a chocolate bar. It’s a lot more complicated than that. Users need deep insight into the idea. For this reason, numerous educational resources, the ability to test the product, and support from those who know how it works are of great significance.

This is why the UMI Team, like many other top representatives of the crypto industry, use strategies and options which are different from traditional media coverage and internet advertising. They are based on four pillars:

- Interact directly with opinion leaders––the so-called influence agents/influencers/bloggers.
- Apply referral marketing principles and award users with various bonuses
- Hold all kinds of contests and events with cool prizes and gifts.
- Work closely with the community and actively contribute the development of the product.

CoinDesk, an authoritative crypto news platform, mentioned the above-mentioned strategies as the ones gaining more popularity with major crypto companies, while conventional advertising tactics see a gradual slide.

Experts attribute this trend to the similarity between crypto marketing model and the beauty industry like those of Faberlic, Oriflame and Avon. These world-known companies are based on well-developed referral programs which worked for decades for them. Moreover, the beauty industry is based on the same four pillars that we mentioned above. In other words, both crypto and beauty communities apply the same techniques.  Thus, beauty blogger Michelle Phan, who has over 1 mln YouTube subscribers, promotes cosmetics and bitcoin in a similar way.  She’s confident that most crypto companies are following the same marketing strategies as the beauty industry does––even if they don’t know about it.

Let’s review the strategies the UMI Team wants to use to promote the coin.

Direct-to-Customer model––work directly with the community

Top cryptocurrencies are currently shifting to DTC (Direct-to-Customer) sales model, which refers to close cooperation with the community and direct sales. With this model, a company produces a product or service in its own facility, as well as distributes it among customers with its own channels. For example, these channels may be social media and an e-commerce platform (marketplace), like Amazon or eBay.

The UMI team also bases its promotion strategy on this model. To spread information about UMI, we use social media, forums, blogs, and influencer partnership, while remaining as open as possible to the community. We also consider using social media and popular marketplaces to sell our trademark products. For instance, we can sell NFC wallets and various branded products there.

This strategy is believed to be one of the most effective ones, able to reach different social groups, even from emerging countries. CoinDesk mentions Livia as a country where social media and chat rooms are the most widely used ways to promote crypto-related goods and services.

Partnership with influencers

A person, who doesn’t know much about UMI, should first understand what it is about and why they need it, and only then they will start using it. Such conventional methods as newspaper advertising or social media ads, don’t work here. As we said before, the most essential thing is to explain the idea behind UMI to audience; demonstrate the role and potential of cryptocurrencies in the twenty-first-century world. Close, efficient and individual work with each user, including guidance on all issues at every stage, will be truly helpful.

One of the best solutions in accomplishing this is to cooperate with popular personalities, who have a lot of subscribers and an authority, which allow them to affect purchase decisions of their audience. They are known as influencers, opinion leaders, or simply bloggers. People have more trust in figures of authority rather than traditional timeworn ads. Subscribers understand that a reputable blogger will not place their reputation at risk for the sake of money—they will first thoroughly research a product before introducing it to their audiences.

Our team is collaborating closely with popular bloggers on various social media, like Instagram, YouTube and others. The information about UMI must reach as many people worldwide as possible. Only then it will gain massive acceptance. As UMI grows, we plan to get more active with advertising UMI through different platforms and engaging more influencers. 

Coindesk reports about many well-known crypto companies using a similar strategy:

– The Kraken crypto exchange. Its CEO focuses on sponsoring content creators that monetize their personal brands. Kraken sponsors Reckless VR startup, founded by virtual reality meetup organizer Udi Wertheimer, and podcaster Peter McCormack, who launched his media brand Defiance last year. 

– Crypto com platform. Thanks to their influencer strategies, the startup’s user base doubled to 2 million people over the past six months.

Referral marketing (MLM marketing)

The MLM marketing strategy is based on the referral program. This strategy encourages existing users to recruit new ones who are paid a percentage of their recruits’ sales.

Binance and Gemini crypto exchanges have already proved successful with the referral model. These two giants of the crypto industry offer their customers a reward for bringing in new users. The result is remarkable: they both are the most successful trading platforms over the globe.

We have applied an “outside the box” approach. Instead of somehow integrating the referral program into the UMI network, we have developed a smart contract that allows users to join communities themselves and create structures for staking UMI. As for structures, they can apply any MLM strategy they like.

For example, ROY Club––the structure created by a partner of ours––offers a 9-level bonus program which successfully promotes not only the ROY Club itself but the UMI network. The flexibility of the smart contract will allow other structures to develop and use a different referral program to engage a new audience. All this has a positive impact on the growth and popularization of our cryptocurrency.

As our Whitepaper says, “At the moment, MLM is one of the most efficient ways of promoting crypto technologies as it involves an audience that will be really using the cryptocurrency, not only speculate on currency rates.”

Gifts, giveaways, and contests

Even a small gift is always appreciated. When it comes to cryptos, a gift could mean a lot more. Receiving UMI coins as a gift means a great opportunity to learn more about this cryptocurrency: try out instant transfers, take part in staking, etc. This strategy will engage and encourage potential users to use coins for their personal needs. The UMI team is perfectly aware of this and is always generous with their gifts.

Two weeks after the network launch, we arranged an airdrop for members of the first staking structure––Roy Club. A total number of 357,664 UMI was airdropped in two tranches:

1) The first tranche amounted to 221,504 UMI.  The transaction URL: https://blockchain.umi.top/transaction/3eb0ae61b435fb576e67344b14e535e6dda8120b6ef0ab17164f52f88ca9c394

2)  The second tranche totaled 136,160 UMI. The transaction URL: https://blockchain.umi.top/transaction/a443003b443c61d997347dad1f68d3e29da9eeab7eeadcedcf8f54e1786a43ba

The ROY Club team distributes coins among its active users in accordance with certain terms. In doing so the UMI Team allowed over 7,500 people to join UMI staking for free and build their own team.

We have also organized several contests. Anyone who wanted could take part in them and receive cool prizes. The ROY club likewise holds contests and giveaways for its members. We consider giveaway a powerful strategy which we are planning to use for UMI’s further promotion. This method is regularly used by other crypto-related fields to engage and reward new users.

UMI intends to embrace the entire world.

If used alone, each of the methods described above can produce a required effect. But to achieve greater efficiency, your promotion plan should comprise a complex of strategies. This is why we use the “4 in 1” tactic, where all the four strategies complement and enhance one another: we work closely with the community, as well as opinion leaders, apply MLM strategies, and organize contests and giveaways.

The progress is evident. For example, a little over a month ago, we released the official UMI video. During this time, it has received over 30,000 views. Another video about the partnership with ROY Club has more than 110,000 views. In addition, the number of our social media subscribers, especially on YouTube and Telegram, is increasing rapidly. Moreover, community members themselves take the initiative to record awesome videos and spread information about the cryptocurrency within their immediate circle. All this is only the beginning of the path. UMI intends to embrace the entire world.

Close interaction with the community is the most productive and fair way to promote UMI. Everyone has a right to “create new digital money” as well as to use a convenient, secure and efficient payment tool. We are confident that the strategies we use will achieve great results and all the world will learn about UMI. This process has begun. It cannot be stopped. With each passing day, our community will grow, set the trend and take the entire planet to the world of the future.

Thank you for being with us!

Best regards, UMI Team!

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High profitability is one of the most important reasons why institutional investors are interested in the cryptocurrency market.

This is the most compelling and never outdated reason. The main instruments traditional for institutional investors barely exceed the inflation rate of 2-3% per year. For example, the annual yield on US government bonds is 0.1-1.4%. 

In such conditions, institutional investors are increasingly paying attention to more risky instruments: stocks, corporate bonds and now — cryptocurrencies. 

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Cryptocurrency UMI is 9 months old!

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Dear friends, time is running incredibly fast, and today our UMI cryptocurrency is already 9 months old. Congratulations! 

We continue to actively develop and achieve amazing results. Let’s see together what we have achieved so far.

The UMI network has already registered about 120,000 addresses and about 100,000 addresses in staking structures. Let us remind you that a month ago their number was 97,000 and 76,000, respectively. For each position, we added almost 25% – an excellent result. The total number of addresses at the moment is over 220,000.

The total number of transactions in the UMI network is about 4,000,000, and the total number of blocks is close to 1,700,000.

The liquidity of UMI is still increasing, which means that the cryptocurrency is getting even stronger than before. Now the order book for buying UMI on SIGEN.pro is over $ 19,000,000, which is 1.5 times more than the amount a month earlier. At the same time, the total amount of offers to buy a coin on a p2p platform is about $ 1,900,000. Accordingly, the total liquidity of UMI has already exceeded $ 21,000,000. Recall that you can independently track the coin liquidity at https://umi.top/liquidity

Total trading volume for 24 hours on the exchange and p2p platform SIGEN.pro varies in the range of $ 600,000- $ 800,000. The demand for the coin, as before, is characterized by high stability, and this suggests that people really need UMI. You can track the trading volume yourself by following the link https://umi.top/volumes

The total number of existing UMI coins is over 68,000,000, of which almost 62,000,000 are in staking. Thus, there are only 6,000,000 coins in free circulation, or less than 9%.

UMI is currently trading at $ 1.40- $ 1.60 per coin. Like the price of other cryptocurrencies, the price of UMI is subject to fluctuations depending on the general trend in the crypto market, and this is absolutely normal. The main thing is that the coin is in demand, which means that there is no doubt about its further development! 

UMI is a unique cryptocurrency, and we have been convinced of this for 9 months already. Every day more and more people around the world learn about our coin, and this, of course, contributes to its further development.

Once again, we thank everyone for the powerful support that you provide to our cryptocurrency, and it does you justice – including allowing you to multiply coins in staking already at 31% per month. UMI and its users are a unique tandem working for the benefit of each other. And it is this close-knit alliance that will lead us to colossal achievements! 

Yours sincerely, UMI team!

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Large investors are not particularly interested in short-term speculation — first of all, they buy long-term cryptocurrencies. The more institutional money comes into the industry, the more liquidity grows, and, accordingly, the volatility — price fluctuations — decreases. 

Bitcoin is not as volatile today as it was two or three years ago. With each large investment, the market stabilizes, which attracts new players and makes them want to invest more and more amounts. This allows the entire cryptocurrency market to develop more actively year after year. 

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We have already written several times that now there is a massive influx of large institutional investors into the crypto market. Among other things, this means two important points:

- Market maturation. The arrival of institutions in the crypto sector is the main sign of its maturation. The market is becoming more mature, stronger and more developed. 

- Mass acceptance of the crypto market and bitcoin. The entry of institutional investors into the market makes bitcoin and cryptocurrencies in general more recognized as a tool for storing assets, investing and exchanging. 

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Many experts believe that institutional investors will provoke a rise in prices for cryptocurrencies, and bitcoin can become the main investment resource. At the same time, the growth will not necessarily be sharp. There is a point of view that it is no longer worth waiting for an ultra-fast rise in prices — with institutional money, the market is waiting for a slow stable growth without strong jumps.

Moreover, there are virtually no limits to Bitcoin’s growth. In June 2020, experts from the Messari analytical company calculated that if institutional investors invest only 1% of their trillion-dollar portfolios in the market, this will raise the price of BTC to $ 50,000, other cryptocurrencies will also rise in price, and the capitalization of the entire crypto market will grow to $ 1-2 trillion. But given that the threshold of $ 50,000 for 1 BTC has already been reached, in practice the numbers may turn out to be significantly higher. But what if the institutional investors invest not 1%, but much more?

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Billions of investments of large players are able to support the price of cryptocurrencies and market capitalization.

Institutional investors can enter a significant amount of money into the market, significantly saturating it with liquidity. This will help prevent crashes like those in early 2018. 

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Dear developers! Our team is willing to accept applications for grants awarded for the creation and development of products based on or using UMI.
 
We receive a lot of applications by e-mail, BUT they are not specific enough: without a product or its adequate presentation. We do not review such applications.
 
To qualify for a grant, please, provide a DETAILED PRESENTATION. Ideally, it must include a ready-to-use or minimal viable product (MVP) that can be used or tested.
 
In your presentation, make sure: 
 
- You describe your product in as much detail as possible. Explain why it is useful for our crypto community and UMI. Why should we award the grant to YOU? 
 
- You provide a step-by-step plan of product creation/development and indicate how many coins you need for each step and why. All grants will be dispensed on a step-by-step basis.
 
Please, submit your presentations to [email protected] 
Applications with no presentation shall not be reviewed and shall receive no response.
 
Sincerely yours, UMI Team!

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Cryptocurrencies as an asset can become an excellent diversification tool that is used by investors in order to reduce the risks of loss of invested funds.

This is supported by research by Jim Kyung-soo Liu and Levard Hewlett on the optimal allocation of bitcoins in the portfolios of large institutional investors.

According to their calculations, the optimal share of BTC in the portfolio is 1,3%. This percentage of bitcoin diversifies risks and makes a profit. 

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UMI Infrastructure

From its early days, UMI has never been an attempt to copy another cryptocurrency; it was created from scratch. One of the key tasks pursued by the developers was creation of a fully functional cryptocurrency that would be just as easy, convenient and habitual to use as conventional money. 

Technically, it’s a really complex task. This is why we had to find an optimal approach for an effective solution. The system’s operational speed seems to be the most important factor for the user. For instance, if you use UMI to pay for goods at various online stores, automatic transactions will be processed immediately, just as payments via a payment terminal. Many cryptocurrencies are too slow in terms of transaction confirmation which makes it impossible to actually use them as means of payment.

To ensure robust speed of transaction processing, we had to introduce new technical requirements for master node operation. At the same time, any network users, even those without a powerful PC, can launch validator nodes. If validator nodes have insufficient resources during a peak load period, a block would be processed with a minor, non-critical delay. Validator nodes cannot generate new blocks, but they do verify each newly created block. It means that even if an owner of a master node tries to defraud the system, such a block wouldn’t be validated and the master node would be blocked. 

Since, however, most network users see no point in storing the ever-growing blockchain on their device and wasting resources on validating it, we’re working on a lite version of a node — the official desktop wallet that can optionally be used as a fully functional validator node. Any user who installs the official wallet on their PC, tablet PC or phone can be sure of the authenticity of data displayed on their screens. Lite nodes will operate robustly and effectively: they’re not demanding in terms of Internet connection, do not require a lot of space, make your battery go flat or slow down your device. 

Another equally important task is ensuring robust operation of both the entire system and all products of the UMI infrastructure. Many people do not live in metropolitan cities or next to cellular towers and do not have a broadband Internet connection. This is why we’ve made a point of ensuring all our products can operate under rough conditions. We grow, we select time proved tools and we don’t pursue technology for its own sake. This is how we could launch an official public API while also providing reliable protection against DDoS and other malicious uses. This, in its turn, guarantees robust and secure operation of all services for our users. 

Please, let us know in the comments whether you understand ideas in the article and find them interesting. What else would you like to know more about?

Sincerely yours, UMI Team!

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Despite its high-tech nature, the UMI cryptocurrency primarily focuses not on cooperation with large companies and influential crypto enthusiasts. UMI plans to cover the whole world, providing absolutely all inhabitants of the planet with the possibility of simple, instant, free and secure transfers, as well as profitable staking.

Neither country, nor age, nor employment, nor political views, nor religion matter. None of this matters. The main thing is that you are human, which means that you can use the new cryptocurrency. The UMI team intends to develop a community in all countries of the world where digital money is not prohibited by law.

UMI ultimately has the potential to bring the whole world together. This cryptocurrency is able to become the main means of payment and the main source of profitable and safe multiplication of cryptocurrencies based on smart contracts.

UMI is a unique product that intends to set a trend and lead the entire planet into the future.

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UMI - at the international blockchain conference!

We have a mega-event: today the UMI cryptocurrency will be presented at the top international Blockchain Wave conference in Antalya!

Blockchain Wave is an international blockchain conference in the lounge format for 1,000 people with a costume after-party. Today, representatives of leading crypto projects, blockchain startups, crypto funds, exchanges and exchangers, as well as investors, traders, miners and developers will meet each other on the shores of the Mediterranean Sea to present their products, networking and relaxation in a relaxed atmosphere.

And also UMI cryptocurrency will be presented here. Moreover, UMI representatives are the general sponsor of the Blockchain Wave conference!

Especially for you, we will broadcast the event on our Instagram - https://instagram.com/umi.top
The broadcast will start in about half an hour. Do not miss!

Yours sincerely, UMI team!

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Cryptocurrencies are building an alternative to the existing financial system, making it more profitable, more convenient and safer. 

Therefore, there is no doubt that the entire crypto market will be a huge success. And UMI is an integral part of this market, moving to the top along with bitcoin and other cryptocurrencies towards a new future. 

Join us. Let’s change the world together!

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  • MrDennis changed the title to [UMI] Universal Money Instrument - umi.top

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