What is Plutus?
Plutus consists of three aspects:
The Plutus App is an Android and iOS app for managing almost every aspect of your Plutus Account. Every deposit you make rewards you in Pluton, a loyalty rebate token which can then be used to make further purchases of cryptocurrencies without fees.
The Plutus Debit Card is a feature that makes it possible to pay at over 40 million merchants both online and in store right away, provided that they accept debit cards or contactless payments.
The PlutusDEX is a one-way peer-to-peer exchange (smart contract). The way this works is that PlutusDEX traders can escrow fiat currency such as GBP or EUR to purchase Pluton and Ethereum from other users in the Plutus ecosystem.
Our favourite aspect is that other users can buy Pluton 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 in addition to rewards redemption. 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 crypto and fiat.
Account set up
Setting up an account is easy! With a Plutus account, you'll be able to sell cryptocurrency for fiat and withdraw the fiat to your own bank account. If you'd like to buy and sell Ethereum or Pluton with fiat then you need to register an account - a guide for which can be found here
KYC and Increasing your Limits
In order to access the range of Plutus services you are required to pass our KYC verification checks. This is a straightforward process which usually takes less than one hour and no longer than 24 hours to complete. Instructions on how to do this can be found here
Note - A detailed list of our limits and fees can be found here
Depositing Funds to your Plutus Account
If you want to top up your Plutus Debit Card or purchase cryptocurrencies like 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 Plutus account it's time to start trading Ethereum or Pluton. Alternatively, you can use your funds to top up your Plutus Debit Card and start spending right away. You can find a detailed guide on utilising the PlutusDEX here
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. Follow this guide 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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