What is Plutus?
Plutus is a financial platform combining traditional and crypto banking services. It offers a Visa debit card that allows users to spend crypto and fiat currencies (such as USD and EUR) globally. Plutus users can earn rewards in PLU, the platform's native token, for eligible purchases. The platform also provides an integrated app for managing balances, converting currencies, and tracking spending. Plutus aims to bridge the gap between conventional banking and decentralized finance, making cryptocurrency spending more accessible for everyday use. Security is enhanced through non-custodial wallets, giving users full control of their funds. Plutus primarily targets customers across the European Economic Area (EEA) and the UK.
How to use Plutus?
- Download the Plutus app and register an account.
- Complete identity verification (KYC).
- Order and activate your Plutus Visa card.
- Add fiat (USD/EUR) or supported cryptocurrencies to your wallet.
- Use the Plutus card for in-person or online purchases.
- Earn PLU rewards for eligible transactions.
- Monitor transactions and manage balances in the app.
The pro's of using Plutus
- Enables spending of both crypto and fiat worldwide with a Visa card.
- Earns PLU crypto rewards on qualifying purchases.
- Non-custodial wallet design gives users full fund control.
- Integrates spending analytics and currency conversion in one app.
- Supports both contactless and online transactions.
The con's of using Plutus
- Limited primarily to users in the EEA and UK; not globally available.
- Requires KYC, reducing user privacy.
- Some fiat top-up methods may incur fees.
- PLU rewards are volatile, subject to crypto market fluctuations.
- Customer support and card delivery times can vary.