While many people see cryptocurrency as a speculative investment, many of the new asset class’ earliest adopters believe they could be much more promising for everyday currency use.
Championing the motto “Spend Crypto, Anywhere,” the U.K.-based project, Plutus, [1]is leading the charge in delivering a worldwide payments solution to make it easier for cryptocurrency users to spend money with merchants.
Through this payment solution, online purchases can be made using either Plutus’ Tap & Pay app or physical debit card. With Plutus, prepaid funds can be added by using the pluton token (PLU), Bitcoin, Ethereum and other cryptocurrencies.
Steering clear of “innovation for innovation's sake,” Plutus is cutting a new edge in the payments business by making emerging technology tangible and practical for the everyday user. The aim is to make transactions more seamless by offering a trusted and secure mechanism for converting crypto into fiat currency and vice versa. Consumers can spend without being subjected to massive fees while benefiting from additional incentives such as the pluton rewards.
These rewards are the signature piece for Plutus’ decentralized loyalty system. Users will get up to 3 percent in pluton as a loyalty reward for every deposit they make in Bitcoin or Ethereum. Since pluton is the preferred currency of the platform, users who transact with pluton are exempt from all fees.
“We have created both the first decentralised cryptocurrency-to-fiat loading gateway, as well as the first loyalty rewards token,” said Plutus CEO Danial Daychopan. “Unlike frequent flyer miles and similar centralized bonus programs, this means that customers have full freedom regarding what they do with the rewards they collect, as well as the confidence that their cryptocurrencies are safe on the wallets or cold storage of their choosing.”
Three Layers, One Payment Solution
The Plutus model
