The need to boost cryptocurrency mass adoption has never been more urgent than now. Bitcoin (BTC) has been around for over 10 years and a means of using digital assets to pay for goods and services has been the mission of early crypto projects such as Plutus. The project has described itself as being ‘better than a bank’ with its one of a kind crypto debit card, mobile app and DEX. Plutus has been continually evolving since the project’s inception in 2015. Over the years and specifically in the first two months of 2020, the team at Plutus has continued to deliver on the project’s promises and going the extra mile to guarantee that their products continue to cater for the needs of an ever-expanding crypto community.
To begin with, Plutus card users will now get more PLU rewards when they use their card in the over 400 Million merchants affiliated to VISA. Each transaction will reward cardholders in PLU tokens of a value equivalent to 3% of the purchase. Plutus has been successful in decentralizing loyalty programs. Traditional rewards are usually fixed to specific stores thus leaving users with limited choices of physical and online stores. This limited access to stores leaves the consumer with little benefits to show for their loyalty.
The team at Plutus has also pledged to release a list of new features between now and the end of March, 2020. The team has secured partnerships with a list of online retail companies who will offer additional discounts to Plutus members. The current list of new partners includes Airbnb and Skyscanner. The team will continually update card users as new companies commit to offering discounts in collaboration with Plutus.
These discounts will come in the form of cash-back and are only available to subscribed members who stake specific amounts of PLU. This soon-to-be-introduced cash-back program will have different levels that correspond to the amount of PLU staked by individual members. Each new level will come with access to more online and in-store retailers as well as deeper discounts. When this feature is fully released, users will earn double rewards in the form of the aforementioned 3% in PLU and the cashback for shopping at any Plutus partners.
In addition to crypto back and cashback rewards, Pluton tokens purchased directly or earned through the rewards program will soon be redeemable for Premium Plutus services. The team plans to introduce a tiered monthly subscription model as follows:
Firstly, starter accounts will be free but will have restricted exchange, spending and account limits. With paid subscriptions, users will unlock higher account limits, spending limits, exchange limits, zero-fee conversions and additional PLU rewards. An introductory offer of 1 PLU, will unlock one month of Premium Plutus services. More information will be made available as soon as these new features are released.
Secondly, each Premium member will have an additional tab on their online account to track their reward-related activity. This will provide a visual representation of PLU earned, its value and other related analysis.
Additionally, Plutus will also remove the 1.3% fees associated with PLU conversions on both the maker and taker side of transactions involving the token on the platform. This offer is geared towards encouraging the use of the native token on the platform.
Based in London and founded in late 2015, Plutus’ mission is to bring everyday use of cryptocurrencies for the payment of goods and services. A total of $1 Million was raised in a successful 2016 crowdfunding event. This paved the way for the development of a mobile app (Android and iOS), launching of a VISA debit card and a user-friendly Decentralized Exchange. Users can top up their debit card with either crypto or fiat with conversions being facilitated by the DEX.
Plutus account holders in the UK and European Economic Area (EEA) have the added benefit of automatically receiving a UK Sort Code and Account number or a European International Bank Account Number (IBAN) within minutes of opening an account with the platform.
Further checking Coinmarketcap.com, Pluton (PLU) is currently trading at $2.63 at the time of writing this. The token has a total supply of 20 Million Plutons of which 850,000 PLU are in circulation. The purpose of low circulating supply is to bring value to the rewards users receive when they use their debit cards. PLU is currently available for trading on ProBit Exchange, HitBTC, IDEX and their in-house PlutusDEX. Its liquidity is part of the team and community’s commitment in having a truly decentralized token whose value is not only determined by PLU’s utility, but by the tenet of supply and demand in the crypto markets.
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