Buying and Selling Crypto Assets

Important Note: DEX functionality is currently disabled for UK customers. Read more about the changes [here].

The PlutusDEX can be accessed on both web and mobile. The guides below show you how to get started with purchasing crypto, and converting ETH and PLU to fiat, on both applications.

1. The Plutus Web Application

The PlutusDEX is a peer-to-peer exchange which allows users to buy and sell crypto assets. Our members can fund their Plutus current account and their Plutus Visa® Card with crypto which is converted into GBP or EUR via our custom-built PlutusDEX platform.

The platform also enables PlutusDEX users to escrow fiat currency such as GBP or EUR to purchase Pluton and Ethereum directly from other users selling crypto on the Plutus web and mobile platforms.

All buy and sell orders are completed in a matter of seconds at the market spot rate to guarantee fair pricing for both buyers and sellers. There are no hidden spreads and all rates are weighted average from across major third-party exchanges.

How do I create a buy order?

If you want to start buying crypto via the PlutusDEX right away, follow this guide to deposit funds into your Plutus Current Account.

Once you've confirmed your deposit of GBP or EUR funds into your Plutus account, it's time to buy start Ethereum and Pluton. Alternatively, you can use these funds to top up your Plutus Debit Card and start spending right away to earn PLU rewards for every purchase online and in-store.

Purchasing ETH and PLU directly with fiat couldn't be more secure. Here is another simple guide:

 

1. Head over to the Trading tab of your Plutus Account and connect your Metamask wallet, or create a new one. Hit 'Buy and Sell Crypto'
   
   
2. Select and enter the amount of ETH or PLU you want to buy in either fiat or crypto. Confirm the order in the following screen. Awesome, your order is placed! The PlutusDEX will now match your order with a seller, orders are usually fulfilled in a matter of seconds to a minute.
   
   
3. Head back to your trading screen by hitting 'Go to Trading'. You should notice your order is displayed as 'pending', this means our order matching system is searching for a seller.
   
   
4. Once your order is complete you should notice the crypto you've purchased in your Metamask account, this will also be displayed on your Plutus Dashboard. Your order will be displayed as 'Complete'
   

How do I create a sell order?

A decentralised wallet is required to use the web version of our PlutusDEX. We have chosen to integrate MetaMask as it makes our non-custodial peer-to-peer marketplace a highly secure and easy to use platform. If you'd like to set up a wallet with Metamask, you can follow our guide here.

Once you have your MetaMask wallet setup on the Plutus web platform, you can then make a PLU or ETH deposit in your personal wallet and then create a sell order to fund your Plutus current account and your Plutus Visa® Card.

Selling ETH and PLU directly to fund your Plutus account with GBP and EUR couldn’t be easier. Follow the guide below to get started:

1. Head over to the Trading tab of your Plutus Account to connect your Metamask wallet (or create a new one)
   
   
2. Once set up, Hit 'Buy and Sell Crypto' to select the crypto asset and amount you would like to sell (ETH or PLU) in return for fiat (GBP or EUR) balance in your Plutus account.
   
   
3. If your order is up to scratch on the following screen, hit 'Confirm Order'. Awesome, your order is placed! The PlutusDEX will now match your order with a buyer, orders are usually matched within a few minutes
   
   
4. When your order matches you'll receive both an email and a prompt on the PlutusDEX. Follow the link in your email or the prompt on the DEX to open up a Metamask screen. Review and confirm the transaction but ensure you do not adjust the gas fee as this may result in a failed transaction.
   
5. Now, it's time to wait (not too long, though). You will receive your GBP or EUR when your transaction has been confirmed on the blockchain - the whole process can take anywhere from a few seconds to a minute.
   Order complete! Now you can spend your fiat using your Plutus Debit Card anywhere a regular VISA card is accepted.

Note: There might be temporary limits applied while converting crypto assets. If we currently have some in place, you will get a notification in the App. We are permanently looking to improve the liquidity on the Plutus DEX in order to lift/increase these limits over time.

 

2. The Plutus Mobile App

The conversion works in a similar way on mobile, however, instead of MetaMask wallet, we use our custom-built decentralised mobile wallet.

On the mobile version, you can upload your MetaMask seed phrase or any external wallet seed phrase to access your crypto assets.

How do I create a buy order?

With the PlutusDEX integrated into the Plutus Mobile Application, buying a crypto asset in a non-custodial fashion has never been easier:

1. Head over to the Trading tab of your Plutus Mobile Application and enter your 12 (or more) word seed phrase to attach your cryptocurrency wallet (more in that in our FAQ below)

2. Optional: Hit 'Save Wallet' and enter a secure password. This will encrypt the seed phrase and store it on your mobile device, you can then use this password to restore your wallet the next time you log in. Otherwise, hit 'Continue' and your wallet will be wiped when you log out.

3. On the ‘Trading’ tab, make sure you’re on the buy option. Select ETH or PLU from the drop-down menu and enter how much you want to buy in fiat or crypto. Review and confirm your order on the next screen.

4. Head back to your trading screen by hitting 'Go to Dashboard'. You should notice your order is displayed as 'pending', this means our order matching system is searching for a seller.

5. Once your order is complete you should notice the crypto you've purchased in your cryptocurrency wallet, this will also be displayed on the ‘Trading’ tab of your Plutus Mobile App. Your order will be displayed as 'Complete'

How do I create a sell order?

To convert crypto on the go, receive fiat in return, and start spending with your Plutus Debit Card, follow the steps below:

1. Head over to the Trading tab of your Plutus Mobile Application and enter your 12 (or more) word seed phrase to attach your cryptocurrency wallet (more in that in our FAQ below)

2. Optional: Hit 'Save Wallet' and enter a secure password. This will encrypt the seed phrase and store it on your mobile device, you can then use this password to restore your wallet the next time you log in. Otherwise, hit 'Continue' and your wallet will be wiped when you log out.

3. On the ‘Trading’ tab, make sure you’re on the sell option. Select ETH or PLU from the drop-down menu and enter how much you want to sell in fiat or crypto. Review and confirm your order on the next screen.

4. Now your sell order is being matched, this typically takes less than a minute! Head back to your trading screen by hitting 'Go to Dashboard'. Soon, you should notice your order is displayed as ‘matched’, this means you’re ready to send the funds directly to the buyer

5. As soon as your order is matched, tap on it, check the details, and hit ‘Proceed’. The details of the transaction are automatically filled out, so you just need to confirm the order and sign the transaction. After this, the transaction will be tracked and the fiat funds will arrive into your Plutus Account ready to be spent with your Plutus Debit Card!

What is a seed phrase?

A seed phrase is a list of words which can be used to recover a wallet should that ever be necessary. When you first create a cryptocurrency wallet, you will be prompted to write down and securely store your seed phrase. This is traditionally 12 words long, however, it can be longer.

Finding your seed phrase - Metamask

If you're a Metamask user, you can check out how to reveal your seed phrase here. Finding your seed phrase on other wallets may be slightly different but almost all work in a similar way. If you are using a hardware wallet such as Ledger Wallet then you can find out how to verify your seed phrase here.

Is it secure giving away my seed phrase?

In the case of the Plutus Mobile Application - of course. Your seed phrase is never shared with us. The seed phrase is encrypted and stored on the device so that we don’t see anything. This allows you to restore your wallet on the app at any time.

Can we attach any wallet?

The mobile version of the PlutusDEX supports any ERC-20 compatible Ethereum wallet, as long as you are in possession of the seed phrase.

 

On the desktop version, for now, you can only use the MetaMask wallet extension.

Do I have to enter my seed phrase each time?

No. If you wish, you can save your wallet to your device and unlock it using a password you set whenever you log in.

Can I remove the wallet to add a different one?

Absolutely! To remove the wallet you've attached to your mobile application simply head to:

Settings -> Wallet Settings -> Disconnect Wallet

Easy! All done. Now, if you like, you can add a different wallet using an alternative seed phrase.

How many wallets can I add?

Currently, users can only have one wallet connected at any one time.

I haven't got a wallet - what can I do?

Not to worry, creating a cryptocurrency wallet is easy and there are many ways in which to do so. We recommend using MetaMask, a cryptocurrency wallet browser extension. To get started, you can check out our guide here.