What is Plutus?
Plutus consists of three aspects:
Plutus Tap & Pay is an Android and iOS app for paying with Bitcoin & Ethereum at any contactless-enabled debit card terminal. Additionally, every deposit you make rewards you in Pluton, a loyalty rebate token which can then be used to make further purchases without fees.
The Plutus Debit Card is an upcoming feature that will make it possible to pay at over 40 million merchants both online and online right away, provided that they accept debit cards or contactless payments.
The PlutusDEX is a one-way peer-to-peer exchange (smart contract) that provides liquidity for the Tap & Pay app. The way this works is that PlutusDEX traders can escrow fiat currency such as GBP or EUR to purchase Bitcoin and Ethereum from the users of Tap & Pay mentioned above.
Our favourite aspect is that other users can buy Bitcoin and Ethereum with zero fees through the PlutusDEX. Our person-to-person system makes it much easier to add new currencies (both fiat and digital) depending on demand, and a 0% trading fee experience encourages exchanges and blockchain enterprises to use our API as well.
What are Plutons?
Plutons are digital tokens issued on the Ethereum blockchain, with the balance tied transparently to smart contracts. Their value will be decided entirely by the users, independent from the control of Plutus and other centralised entities.
The key benefits are zero fees and free conversion to fiat. Pluton transactions confirm instantly on the blockchain, compared to the bitcoin network which requires 10 minutes to an hour or more.
Why choose Plutus over other competitors?
Our main difference from competitors is that we don’t store your cryptocurrency while we provide a decentralised platform.
We have one of the best incentives to use our service, where you will receive a Pluton Rebate of up to 3% for each deposit you make with BTC or ETH.
We have 0% fees for all BETA users on all our services, from deposits and withdrawals to trading on the PlutusDEX.
Account set up
Setting up an account is easy! With a Plutus Tap & Pay account, you'll be able to sell cryptocurrency for fiat and withdraw the fiat to your own bank account. You can do it via our Android and iOS by following these instructions here
If you'd like to buy Bitcoin, Ethereum or Pluton with fiat then you need to register an account for the PlutusDEX which can be done here
KYC and Increasing your Limits
To get the most out of the Plutus products we recommend you pass our KYC verification checks to increase your limits. This is a straightforward, process which usually takes no longer than 24 hours to complete. Instructions on how to do this for our Android and iOS apps can be found here and for the PlutusDEX here
Note - A detailed list of our limits and fees can be found here
Depositing Funds to the PlutusDEX
If you want to purchase cryptocurrencies like Bitcoin, Ethereum or Pluton on the PlutusDEX, you'll first need to deposit some fiat funds. This, again, is simple and is described in detail in our tutorial here
Trading on PlutusDEX
Now you've deposited funds into your PlutusDEX account it's time to start trading Bitcoin, Ethereum or Pluton.
Selling crypto through our Tap & Pay apps (iOS and Android)
Selling crypto through our applications is a simple process. You can follow the instructions which appear on the screen in your app, or if you need a little more guidance, you can follow this tutorial
A Note on Security
Here at Plutus, we take security very seriously. That's why we don't hold any of your cryptocurrencies, it's held by you - the user! If you want to read more regarding Plutus and security, you can do so here
Before you venture off into the world of Plutus, we urge you to set up two-factor authentication. This is an easy process which can protect you should your account ever be compromised. The following guide for the PlutusDEX here
How can I stay up to date with Plutus?
We have a presence on all major social media including:
- Join the conversation as it happens on our Telegram
- Keep up to date with everything Plutus at our blog
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