Did you know that the estimated size of the Chit Fund industry is around 5 billion dollars and is growing? Also, it’s helpful to understand that the Chit funds are a traditional means of savings and borrowing for low-income households. Besides, it’s been part of India’s financial system for more than a century now. So, the Uma Chit Fund project has issued the UCF token to blend a traditional way of lending and borrowing money with blockchain technology. Continue reading to learn more about that project. In addition, get detailed instructions on how to trade UCF tokens on the Tokpie exchange.
What’s the Uma Chit Fund?
The Uma Chit Fund is a crypto project that serves the chit holders with unmatched transparency, scalability, and additional member benefits. So, the Uma Fund’s members or subscribers agree to contribute a fixed amount of money for a fixed duration of time. As a result, the total amount collected goes as prize money to the member or subscriber in need. Therefore, members can save a part of their earnings for the times when needed.
Moreover, the team makes it possible for users to save and borrow funds easily without looking at the financial documentation. Also, the developers look forward to providing various other opportunities which will make it convenient and beneficial for members to pay the weekly/monthly/yearly EMI’s with the $UCF utility token.
What’s the UCF token?
The UCF is an ERC20 token serving as a utility cryptocurrency on the Uma Chit Fund platform. So, the holders can benefit from borrowing interest rates that vary between 5% to 12%. For lending, in turn, the interest rates go in between 10% to 17%. Moreover, the usage of the Ethereum blockchain allows the storage of all the Fund’s records. Also, nobody can change these records. So, they stay transparent because all Fund’s participants have access to the same version of the truth.
- Token Name: Uma Chit Fund
- Symbol: UCF
- Token total supply: 1,000,000,000
- Smart contract address: 0x8e77d6596743ED542ED8779553C6Ece6A64785af.
How to buy UCF tokens?
To purchase UCF tokens for USDT do three simple steps:
- Fund your account with USDT. If you don’t have crypto, you can purchase USDT with a bank card in a few minutes.
- Open the UCF/USDT order book and place your trade order to buy. Use this instruction if you don’t know how to place a trade order.
- Withdraw UCF tokens to your personal ERC20 wallet or hold them on the account.
How to sell UCF tokens?
To sell UCF tokens for USDT do three simple steps:
- Deposit UCF tokens into your account.
- Open the UCF/USDT order book, and place your trade order to sell. Read the instruction if you don’t know how to place a trade order.
- Withdraw USDT to your personal wallet (ERC20 / BEP20) or hold them on the account.
How to deposit UCF token?
To deposit UCF token into your Tokpie account, follow this guide. Also, make sure that you are going to deposit ERC20 tokens that relate to this smart contract address. If you deposit the wrong tokens or the wrong blockchain type, Tokpie could not identify your transfer.
Note: Tokpie doesn’t charge any fees for depositing.
How to withdraw UCF token?
To withdraw the UCF token from your Tokpie account, use this instruction. Besides, you must have ERC20 compatible wallet address to be able to withdraw tokens. Also, check the withdrawal commission.
Also, please be aware that Tokpie charges a fee for the listing. Tokpie does not give any investment, legal, tax, financial advice, or warranty of token price performance.
Useful links to trade UCF tokens
- Market to trade Uma Chit Fund tokens: UCF/USDT.
- Also, check trade statistics on Tokpie.
- Tokpie’s trade fees and withdrawal commissions.
For any questions, contact Tokpie at https://t.me/tokpie.