Reddit Posts
Plutus is a Ponzi scheme (probably)
Advice and discussion on trading and withdrawal fees [SERIOUS]
Be careful using PLUTUS.it (crypto debit card with cashback based on PLU) - my account was terminated without notice and there are many other red flags!
Next coins to explode (x1000) in the next bull run (whenever that might be)
Which debit card do you use? (EU)
Crypto.com fucked up so big that Plutus Cards are out of stock
Were crypto.com VISA cards too good to be true? A small research [EU]
Yes Crypto.com messed up, but hear me out.
The Crypto.com card isn't worth it anymore, but which crypto card alternatives are out there?
Now with CryptoCom cutting the cashback, here's the best one to have: Plutus Card.
Is spending crypto with CDC or PLU cards a taxable event?
Haven't heard anyone talking about PLUTUS Visa Debit Card, which might be better than CryptoCom
Case Analysis: Strategy for Current Market
I have gained 3740€ back in PLU after 6 months with Plutus
Cashback staking differences between card competitors
Crypto debit cards with cashback in Europe
DD: Why I choose PLUTUS as my Crypto debit Card
DD: Why i choose the Plutus crypto card over the Crypto.com one.
DD: Why i choose the Plutus crypto card over the Crypto.com one.
I Tried Out The "Plutus" Cryptocurrency Card For 2 Months So You Don't Have To
Some exchanges are equivalent to scammers we read about on this sub.
PLUTUS CryptoDebit Card: Christmas special offer for an increased 5% return on all your purchases during the holidays!
How I earned £280 cashback in 7 months with Plutus
The PLU-90D Staking Campaign: Stake to Share 12,000 PLU!
Mentions
Plutus, 1,5 years ago. They banned me without reason and I sold all my PLU in profit (!!!), before the real crash.
I've been a subscriber for a few years now, got to about \~140PLU available, i've been meaning to withdraw some for a while though finally got round to it... 33% fee!! And even that keeps getting rejected.. At the moment i'm contemplating cancelling the subscription and chalking it down to experience. I can't be the only one?
All official media channels have been locked down. The CEO is constantly changing the T&Cs. Ambassadors are being banned. Fees: 80% on card payments (paid in fiat) 50% on withdrawals (paid in fiat upfront, potential refund after 30+ days if you pass an audit) 33% on swaps You cannot sell PLU. Doing so makes you a "violator." Trustpilot, Reddit, and Twitter are flooded with fake reviews, user numbers, and posts. Many originate from India and the Philippines. Seriously, this is insane. The CEO is out of control! He falsely claimed to have set up r/Plutus_Uncensored. This subreddit was created by users who were banned for requesting payouts. I doubt Plutus will survive and make it to 2025.
PLU - Plutus [Plutus.it](http://Plutus.it) Some links to get you started. * r/plutus * r/Plutus_Uncensored * [https://www.youtube.com/watch?v=1Gw41hSkxBM](https://www.youtube.com/watch?v=1Gw41hSkxBM)
Sep 2023 - Paid £1250 for a card offering £350 cashback a month minimum on my stacking level. Was promoted as such. May 2023 - Stacking level gone up from 250 PLU to 2000 PLU. So sold my stack and took the hit. Earn £150 instead of the £350. Earn max of £1800. Sep 2023 - Stacked just for the sake of it. Earned 600 plu so far, no sales. Oct 2023 - Rules changed again so I dumped my stack. Account restricted. Threatened closure next month if I don't buy another 1000 PLU and hold for 4 months. Effectively paid £1250 + 5x£20 subscription to get my account closed and no cashback. And I'm the bad guy apparently wanting "free candy" as Daniel says.
That’s great cashback there. You pay a monthly fee in fiat and get nothing in returns, except their useless shit coin, which you can’t sell and it’s locked forever. But you can pay ransom money, another x-amount of money for their chad level (1000PLU) and you need to keep it for another 90 days. In this time the CEO and Crew can cash out and definitely they will change their mind again and you will loose everything. This company is 100% PAY TO LOOSE
And soon you can trade in 1PLU for 10€ worth of giftcards for the Internet's most shady webstores! Please be excited!
Wow, why would anyone in their right mind send an email like this? It’s the exact opposite thing you’d want to do to not have a video about you made I dumped my remaining PLU, if there’ll ever be a video about Plutus we’ll probably see sub $1 PLU
I used Plutus for a while, when it was still a good deal, but quickly realized things were going south. Then they disabled the internal exchange, that allowed to sell PLU token earned as cashback with the excuse they were "developing a new version of it". It had to take a couple of months, but it too much longer and I just stopped using the card because there was no point in doing so. You could in theory send your PLUs to an exchange and sell that way, but fees weren't worth if for just a few bucks. I came back many months later to check if they re-enabled PLU redemption and I found that they required you to buy a subscription to be able to withdraw... that was the nail in the coffin for me. I "lost" a few PLU I had accumulated, but since they were only cashback rewards and I had spent everything I had on the card, it didn't affect me much, I actually earned a few bucks while using the service at the beginning, but if I were someone who paid for any of their premium plans I would be upset and now it's obvious the system isn't sustainable because they tried to give too many incentives and ended up in a ponzi loop. I am not aware of the recent developments though, because I just stopped caring tbh.
Try it again with Plutus... I knwo they had some changes, but long term i'm still a PLU fan 😄
yeah makes total sense you're comparing a finite asset like BTC into an extremely inflationary coin like PLU (where do you think the % comes from) comparing it to CRO is fairer but if you zoom out, its ath was at 0.89 in late 2021 which you conveniently left out, and whats the current price? 0.12? Fine if its up in the last 12 months but surely that correlates with BTC hitting ATH in the last 12 months too, no? Come on now. Both PLU and CRO are inflationary assets, the interest given is basically minted tokens which is why the price gradually goes down, ironically you can probably swing PLU considering its weird price action, seems like they burn a lot of tokens.
that would make sense but that doesnt correlate with your first statement about PLU value.
CRO is up 96% in 12 months with a circulating supply of 26.5bn and total supply of 30bn. Daily volume around $10.1m. PLU is down 53% in 12 months with a circulating supply of 1.85m and total supply of 20m. Daily volume is around $520k. For comparison, BTC is up 133% in 12 months, ETH 63% up in 12 months. I don't think you can call that 'standard price' action on PLU - I'd call that a slippery slope with a broken ski lift right now, waiting for an avalanche.
Diminishing returns! If you held your PLU, then £10 cashback a year ago would be less than £5 now. Add to that all the adjustments, stacking levels, subscriptions etc. gymnastics people have to do just to get some cashback. Not a good deal for the new joiners. It could've been a good product but I don't see it sustaining. I'd be happy to be proven wrong as I think it's got potential to be one of the best crypto cashback card.
I’ve been using Plutus for about 2 years now and there have been ups and downs. I’ve managed to get around £4K back in cash back and it’s been well worth from my point of view. Some of the negative stories are indeed a concern for me too (sudden banning being the main one) One recent change has lead the free tier / non-stackers to be effectively removed for sustainability reasons. This as well as an changes in plans has lead to a large sell off and the value of PLU has started to steady itself after a few months of downward trend. Think with any of this there’s a lot of risk and pros/cons. Hope that helps!
So I have just left Plutus having been with them for 1.5 years. They are definitely sketchy and I ended up finding the reward card not worth the effort. These are the issues: 1. Over time they have changed the way they distribute PLU. Initially you could make decent reward on the free tier, then you had to sub to a higher tier to make any rewards and now the eligible spend on which you get rewards has been dramatically lowered if you don't stake PLU. This means that on the starter tier you essentially get 50p cash back a month (since the fee is 6.99 and you would only get 0.03*250=7.50). (This was my final straw) 2. It takes 45 days to claim the PLU reward from your spend. This is an egregious delay and means that you can't really hedge out the value of your reward. 3. Since the "Dex" is nonfunctional. The only way to withdraw is to ETH main net. To do so you need to be on a subscription tier in the first place (which wasn't always the case) and have to pay a "dynamic" fee. I don't know how they set this but I recall that long ago when I withdrew at similar levels of main net activity the fee was 5 pounds. I did it a few weeks ago and it was 25 pounds. This is insane since eth transfer fees are actually 3-5 dollars at 20-30 gwei. All in all they have been operating in a way where they have been more extractive of their user base. This would be ok if their token had a higher mcap but at these levels it basically makes the hassle of using their prepaid card not worth it. Just my 2 cents
Plus is wayyy better. 3% plus cashback and perks. Use my referral for $10 of PLU on sign up https://dex.plutus.it/auth/referee/signup?refId=fcvlsR
Good to see others also having concerns about what is happening. I’ve been using Plutus for almost 2 years. I bailed when the recent waves of changes came in. I still have about £200 worth of PLU in my account but without a subscription and paying £25 fee, I can’t get it out. I had another look recently thinking everything is worse than before but at least stabilised. I ran some numbers and it makes zero sense for me to use it anymore. It is so very complicated, and the reward is only ok (in some/many cases you could lose money lol). I don’t want cash reward become a chore in my life, where I’m constantly monitoring and pulling spreadsheets to calculate stuff, so I decided it’s much better for me to use something like AMEX and Chase. I can’t think of any reasons why new users would consider joining Plutus if an old customer like me who already is “familiar” with their service is put off. Best of all, I can’t even post any of this on their subreddit because I don’t meet their “criteria”.
Yeah, probably some whale manipulation. Look out for the next coinbase low caps like PLU, FOX, SPA, INDEX etc, as they may follow suit
Mostly ETH. Also, have some CRO, from when I used their card, plus some PLU, from theirs. Other than that, just a bit of MOON (what's in my Reddit vault, and a bit more in my hard wallet).
99bitcoins has a pretty good crash course. https://youtube.com/playlist?list=PLU52pNodXIGdM6XDgHVG7DsPytlsrR_6b&si=LMXgUeddiIjKi3Fg
Looking for things that haven't pumped and have a huge upside I have two I have invested a lot in CTI-Clinical Trials technology and a RWA asset. I am a huge fan of this one as the team is active, continues progressing and it has survived a few bear markets PLU-Plutus is a crypto banking company that offers its rewards in their token. Launching in the US supposedly in 2024 but they have said that last year and it keeps getting pushed back. Wildcard IXS- It is a swap exchange for RWA assets that supposedly has quite a bit of licenses to operate. I bought at .02 and it is at .34 today. Just listed on bitmart
Luckily, it was the start of me investing into Crypto and I bought mostly ETH and some of the bigger Altcoins. But other than that, both CRO and PLU have been a lackluster.
Bought CRO because a friend shilled it to me. Lost half of my money and sold. Learned nothing. Bought PLU and again I am at 60% loss, even though a friend told me not to.
I was GOAT with the PLU ready for Honeybadger. I posted a bit negative on their discord about all their planned changes that are destroying Plutus imo. This resulted in me getting muted on their Discord and being asked for my email address to get unmuted. After submitting my email address my account got suspended a few minutes later and I got a random Source of Funds check ( Folllow up to an old unrelated ticket ). After submitting everything they want they terminated my account. This started on October 25th 2023, so far I didn't got my money back and also not the payment for the metal card pre order. I would strongly suggest to stay away from this bunch of kids trying to play bank.
>Just owning PLU is no longer enough to get cashback/perks, you have to subscribe to a monthly plan with cash If this is not enough reason for you to run for the hills, there's no hope.
I'm hesitant, but I'm still using their card. I redeemed (burned) 10 PLU to get a spending ceiling of €1000,- beside the Everyday sub ceiling of €500,- which suffices in my spending habits. I haven't bought any PLU ever and sold plenty of PLU. So down the line I think my risk is minimal and my reward is sufficient. I don't know what the future will bring Plutus, but to say they are going down with any certainty is a long stretch in my opinion.
Yea there’s a lot of steps and barriers that seem set up solely for the purpose of making it hard to sell PLU and hard to earn rewards. Not promising
You even forgot that in order to redeem your PLU you need a paying subscription! So after waiting 45 days to get the PLU unlock then you have to pay 10€ that month to redeem the PLU.
>as a system inside Plutus that allows you to sell PLU or ETH tokens directly, for example, to charge your car Yep, Renegade is very promising
Yes, and I’m out (soon). The PLU takes 45 days to be credited so even if you stop earning rewards, you’re stuck for some time.
Combination of factors causing problems there, including what I assume from the regular over-promise/under-deliver is an inexperienced team, piss-poor communications of major changes, and a naive CEO who seems to be simultaneously cheering for the collapse of BTC, Tether and whole crypto sector while also selling a product that rewards users in a \*crypto\* token. PLU has been bleeding against pretty much everything for the past 6 months. I think what they've failed to appreciate is that for most customers (myself included), this token is basically an airdrop. Sell it and spend the proceeds somewhere else. Why bother holding or buying more to unlock higher tiers when there are plenty of other faster horses out there. I don't think the company will implode but I do think PLU will continue to underperform.
Probably not a true DEX, but it was a important feature within Plutus because it allowed you to directly sell the PLU tokens that you received from cashback (or ETH), without having to withdraw it onchain and move to a CEX. There were also no min limits or withdraw fees when using the DEX.
Blue chip ETH Medium/Degen VET Medium/Degen PLU (Not in for higher prices, but Cashback)
I have the Plutus card. First of all I agree with a lot of the things you say. Especially about it not being sustainable. Earlier this year they actually announced changing the rewards, fees, and staking plans, which caused a huge price drop (and when the price drops, more PLU is being given out as cashback rewards, further increasing supply.) People were very upset, especially the ones on free plans that were basically getting free money (in Plu) each month. (I wrote a post that I agreed with the changes). Recently they announced that they will more or less revert to the original plans and cashback rates. This allowed the price to recover. And yes the "opt in" promotion: buy more Plu now, and get more cashbacks for a year... It's funny though that you mention it having no utility. I initially bought Plu because I thought it was one of the few crypto that actually DOES have utility in the real world, which is a credit (debit?) card, with the highest cash backs. That's more utility than 99% of crypto in IMO. Anyway, a service can grow and expand if it has a large user base. People sign up for the rewards, and might stay in the future for different services. For now, Plutus is small enough to keep growing and attracting new users. They haven't even launched in the US yet... They were actually quite tiny before the whole fiasco with CDC changing their plans and people flocking to Plutus. Will those people flock to the next thing when Plutus makes their plans more realistic and sustainable. I think that's what's happened this year. So I think they decided to stay in "Ponzi Scheme" mode a bit longer to keep the whole thing from collapsing. (I argued that if the price gets low enough, the staking plans will become attractive again, and there will be way less non-staking free users that just increase Plu supply) Maybe when they get bigger they can use that reach and resources to add sustainable services and slowly transform their company. (Like, for example, social media companies do). There are all kinds of things they could add as utility. A simple one is putting advertisements with their cashbacks, and specific sponsored cashbacks etc. Is the Plutus team actually considering this, or are they happy to just run the service in "Ponzi Scheme" / User Base building mode until they collapse, declare bankruptcy, and take their profits along the way? Your guess is as good as mine. Looking back at my Plu investment, I made money with it, but I think that unless you put a lot of money into it and expect the Plu price to rise, it's not worth the hassle. Especially for about 10 bucks a month in Plu Cashbacks on the lower plans. Just work an extra hour or two at your job, chill out, and get another credit card which will still have some benefits.
Vendors pay fees for debit cards as well. Apparently you misunderstood what I was saying. I'm not saying they're covering cashback with fees, I'm saying that they couldn't do that even if the wanted to, since the fees are far below the cashback. The business is simply not sustainable. Running out of PLU is not actually the main risk, that would assume that PLU has value. If nobody wants PLU and the price tanks toward zero, then the PLU "reserves" would run out quickly, since they're distributed in fiat value. The risk is 1) running out of customers and thus demand for PLU and 2) existing customers realizing that 1) is going to happen and selling their PLU.
Ah cool, yeah Plutus has been brilliant but they've been making some confusing changes lately. I use Plutus as my main card, 8% cashback after 45 days in PLU (soon to be 9%). They allow cashback on personal taxes, so I use up all of my £100k paying the max amount each month. When I've hit my Plutus limit I use my Icy White for the 3% CRO, all through Curve anyway.
It's a card that offer 3% cashback in their own crypto (PLU).
These are mostly impressive projects and if I were to add any projects then I would probably be adding CYMI, BBANK and PLU.
The attacker first sent gas ([tx](https://etherscan.io/tx/0xafa1ba671eb3d7de2ee1f9ef39ece12428a6818a741f4df2112636bfc94e9310)) to your address before swapping your PLU for ETH via UniSwap ([tx](https://etherscan.io/tx/0x706f1996877b0bf4acb92f38e066b77eee007f2da01967d796232c95a7972dc9)). These actions suggest seed phrase compromise. There are no genuine crypto recovery services, only vultures looking to exploit vulnerable people. Your best option is to monitor the address and wait for the attacker to send funds to a KYC exchange. At which point you will need to get law enforcement involved as CEXes will not release customer details to civilians. Sorry for your loss.
Yep I am using different wallets just in case (which fortunately saved me in this case) and I had my metamask only for my PLU. Only contracts I accepted was one directly with opensea as I remember. And you can check my wallet adress to see that I never accepted any malicious contracts. At least I have some plu laying around from the cashnack but it's a very small percentage comparing the amount I got stolen
Oh my God also your PLU got stolen?
i set 1$ as cumulatuve cost for airdropped (MOON, BAT...) and cashback tokens (PLU) that didn't cost me anything. it's nice to see portfolio tracker showing +3470% +640% and even +5123%
I withdrew all PLU and reverted to free subscription after the last round of changes. Still making the use of 1 free perk while I can but will be happy to see the back of it to be honest. Uphold card for 2% XRP has been much more straightforward.
If you get a Plutus credit card the reimburse you Spotify back in PLU. It's a nice option if you still want Spotify
PLU. Small MC, promising cashback card, fair amount of users.
Not for everyday spending but Plutus gives you Netflix or Spotify for "free" as in you don't have to stake and they do a cashback in PLU. For the moment the only downside is that they're switching from visa card provider so only digital card available
Yep same here. With my weekly shop on it and throw in a couple of big purchases I got about £400 worth of PLU.
It’s amazing for me! I did not change any of my spending habits or anything, just paying as I would usually do - only with the plutus card instead of my bank card. Managed to earn quite a bit of PLU already the last months!
Cool! My philosophy with the crypto cashback is that if I get 4% return on all the money I spend and the value of PLU does a 25x, I had a year of free living (: might be wishful thinking, but it would be my biggest crypto brag in forever haha
You’re very correct about the risk, that’s why I like what Plutus is doing with their card. You spend FIAT but get PLU as a cashback, the percentage of cashback varies. Basically nullifying the risk of devaluation of your money you use to spend while still rewarding you some crypto as cashback. Sure, that cashback crypto might devaluate - but it won’t take away from your initial value!
Didn't know that about PLU, thanks
5 things I learnt about Uniswap from the sub • Uniswap is the world’s largest decentralised exchange. People use it to buy coins that are not available on CEXes yet. • It’s the OG. It developed smart contracts (v2 and v3) and interfaces and got them audited and made them open source. So most other DEXes like SushiSwap are copies of UniSwap • Did an airdrop of $UNI on to more than 250k addresses that have previously used the protocol on 17/09/2020. This cemented its popularity • You can swap the PLU you get from the Plutus rewards card to ETH or USDT on Uniswap • Its quarterly spot volume ($155B worth of trades) exceeded Coinbase’s spot volume in Q1 2023 ($145B worth of trades) Thank you, guys!
i don't usually mess with DeFi, but i used it a couple of times to unload some PLU. yea, i use their cashback card, not very proud to say this.
Thanks for the write up. Personally I just feel like this is not worth the risk of another ftx but I think it all refers to the amount of crypto you have and how much it would suck for you to lose it. I agree that self custody ain't easy, but to protect your life saving you could spend half a day educating yourself buying a hardware wallet stamping some metal. But it is true that to be done right is involved there is no way around it you have to learn how to. Regarding the others reason it will list some alternative that someone might be interested in if they want to leave cex. For Beth easy just buy steth I'm sure the interest rate is similar or better For the cards plutus give you about the same interest for same investment but with some caveats like (cashback vesting for 1 month) but you stay in custody of own your stake in your own crypto wallet (you just verify the address and they check the PLU tokens are there)
$10 worth because I wanted to sell PLU that I earned through Plutus card. I’m really adverse to ETH or any other expensive gas blockchain. I think the free or almost neglible gas fees blockchains have the future. Time will tell.
I have both of them cards. The cdc card has the best 2 years ago, after that they started slashing rewards. Plutus was awesome and still is until the changes will come in Q4 and the card will be worthless unless you stake a big amount of PLU or unless you pay x2 or x3 for the subscription fee. I’m really looking forward to the new Renegade card that will be coming soon, hopefully this fall
I think like 2 days ago, PLU was +20% in 24 hours
Been paying my bills with plus and I've got like 0.01 ETH so far (covering PLU for ETH).
tldr; The article discusses the enhancements made to the tokenomics framework of Plutus. It highlights the growth in stacked PLU figures and the high percentage of PLU in circulation that is stacked by customers. However, only a small percentage of customers have unlocked a Reward Level, indicating the need to engage more customers to stack their earned PLU. The Difficulty Adjustment, which had a positive impact on Reward Level upgrades, will be paused after the upcoming Q4 adjustment to create a more stable and predictable rewards system. Three new Reward Levels with reduced PLU requirements have been introduced to incentivize users. Plutus plans to add more utility to PLU, including the ability to redeem it for perks, metal cards, merchandise, and more. The article also mentions the surge in user engagement and Plutus' plans for expansion and improvement in services. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR. Try our free crypto chatbot at https://chat.coinfeeds.io*
I've been using plutus for a while now, and my new strategy is that every time i accrue £100 of PLU im converting it to MOON.
tldr; Plutus, a financial services platform, has announced plans to enhance the utility and value of its native token, Pluton ($PLU). The company aims to encourage customers to participate in the Plutus ecosystem by introducing a progressive Reward Level structure. Currently, only 4.9% of users are on Reward Levels, indicating significant untapped potential for growth. Plutus also plans to increase the importance of unlocking Reward Levels by accumulating earned PLU, which will drive customer demand and lower emission rates for non-participants. The company is introducing three new Reward Levels and optimizing its subscription plans to provide exceptional value for money. These changes are set to take effect in Q4 2023. Plutus will also introduce more benefits for Pluton Rewards, allowing users to redeem rewards for perks, metal cards, merchandise, and more. The company has seen a continued interest from users in unlocking Reward Levels, with over $15 million worth of PLU rewarded in the past 18 months. Plutus aims to increase the longevity of the Pluton Rewards Pool by gradually escalating the PLU requirements for Reward Levels. The company is inspired by Bitcoin's dynamic halving process and plans to reduce emissions for non-participants while enhancing benefits for stackers. The launch of the new subscription plans and Reward Levels is scheduled for Q4 2023, and there will be no grandfathering of existing subscription plans. Plutus believes that the new pricing structure and improvements will be suitable for a wide range of customers and ensure sustained scalability and longevity for the platform. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR. Try our free crypto chatbot at https://chat.coinfeeds.io*
I think those recommending the Coinbase card are probably US based as they earn rewards on their spending. The Coinbase card doesn't offer any cashback rewards in the UK. I was using the CDC card (Ruby Steel) until they slashed the rewards. Since then I've moved to Plutus which gives me 3% cashback in PLU.
Look at Plutus. It does not have all normal functions of a normal bank YET (due this year). It might be what you are looking for. The way I use it. \- Pay directly to Plutus \- Then use the card (and get cashback in PLU) \- Transfer from Plutus to Normie Bank account for my Direct Debits. \- Transfer fiat from Pluts to crypto exchange (ones that dont need a reference) ​ I know not great but it works for me.
One up: I‘ll bet all my PLU that there willbe no Plutus Dex on 01/01/2024.
It's actual crypto. You get cashback in the form of PLU tokens. You can connect your wallet and withdraw the tokens or sell your PLU on the platform and to reload back into your debit card. But now, there is some maintenance going on so only crypto withdrawal is available atm.
Is anybody here using Plutus? And how high do you see PLU potentially going?
Yup. Don't see why I would gamble anywhere else, especially after what happened to some of the popular alt coins of late. I have PLU as well but that's just cashback, I don't buy it.
I've a few different coins in my bag and my strategy is actually specific to each one: - CRO - I am so far underwater with this fucker that I am better off just riding it out, if it's a total loss then fair enough, better that than to realise the losses now. **XRP** \- I've bought what I enough for me, now I just hodl and take advantage of Uphold's 2% cashback when adding more. **ATOM** \- Buy any time I see that my holdings are in the red, this guarantees that I am only DCA-ing down. Thanks to Gensler all I am doing just now is DCA-ing down. **ETH** \- I just buy whenever I have some spare cash, DCA up or down, it doesn't matter as long as I adding to my bag. I also convert any CRO cashback rewards from card staking into ETH. **QNT** \- Same as ATOM. **PLU** \- Never buy it, only accumulate it from Spotify/Netflix rewards. I will more than likely convert this to ETH when my bag gets big enough.
It’s only in Europe as far as I’m aware, you get 3% in PLU and you can set one direct debit with with Spotify, Netflix and others and you will get 100% of the payment back in PLU. That is for the base account. The downside is when you want to top up your Plutus card it can take a day for the money to send from your bank and you can top up your Plutus card ok weekends so if you top up your Plutus card on Friday the money won’t be on the Plutus card until Monday. The apps UI is horrible and is not as user friendly as CDCs app.
Besides BTC and ETH, GET and PLU. Those 2 are actually being used on a day to day basis in the real world. They are also performing well in this bear market. Real life use kind of keeps those coins stable. This also have a relatively tiny market cap (not even top 500). So a small event can make them pump (like being listed on an exchange). Once they significantly rise (2x or more) I'll sell half of it, and more as they'll go.
There's a free tier that offers 3% cashback on purchases up to $/€250 each month. $/€5 subscription gets you the same, but up to $/€2000 each month. You can also stake PLU-tokens for extra cashback (4% or 5%) and you get perks, special purchases where you get 100% rewards once a month, instead of just 3%, for instance on netflix, spotify, but also stuff like mcdonalds, groceries, etc. ​ Check it out yourself: plutus.it
In the latest AMA they said they do not worry about U.S. regulations because PLU is "the same as Airmiles. Just a reward program". No its not! Airmiles has a fixed price and i cannot buy them or trade from their company. This nonchalant behaviour frightens me.
I do. I use Plutus (Europe) and i convert the rewards (their token PLU) to fiat and buy my groceries with it.
It's a fair call. I don't know if they ever wanted to be a "trading platform" though. They had their decentralised exchange for people to buy PLU from each other; but not sure if that's the end game. I think they're aiming for value linked to holding - and any crummy bit of programming to allow trades initially would work; but bigger and bigger numbers makes things a challenge. Either way, it's fun to sit and watch how these projects develop :)
I've used KuCoin to buy PLU. Fiat to Coinbase --> buy BTC --> send to KuCoin --> swap BTC to PLU --> withdraw PLU I'm sure people have used other coins instead of BTC...
Why would you buy PLU? Exchange and CeFi tokens are terrible investments.
The Coinbase and Binance cards are not available in the UK but I\`ve used the other 3. ​ **CDC - RIP CRO** I started with CDC. The app was quite good, the card worked well at the time and cashback was available immediately. However, I still feel guilty for shilling it to my friends right before they slashed the rewards and the price went tumbling. I sold my stake once I could and rage quit out of there. **Uphold 4% XRP** Uphold is great, but limited to only £50 cashback per month. There are no subscriptions, staking requirements etc and the app works really well. They pay out cashback quickly (within 15 days of the following month) and it is in a recognised token (4% back in XRP) rather than one they've made out of thresh air. I really like this card and I\`d have it as my main if the limits were higher, or if you could pay to increase them. **Plutus - 3-8% PLU** I\`ve been with Plutus for exactly 1 year. I think it's fair to say that it's still somewhat of a beta product or a work in progress, but I despite being a moderate spender I have earned over $3K with it. They have a subscription model to increase your spend limits, and a staking level to increase your cashback rate. The free tier of 3% back and 1 perk means you can earn £17.50 a month in cashback for free, which is too generous imo. I\`ve staked for 5% and 5 perks and the cashback builds up quickly.
I love plutus. Zero issues and the perks are awesome, they just added more partnerships like amazon and Ikea. I use it daily to pay my stuff and I've accumulated quite a few PLU. I wanted to try binance but the minimum requirement is too much, with plutus there is none.
Started with Crypto.com card (Ruby), after the slashes to the rates and rebates, i abandoned the Cdc card. Now i am using Plutus and i am very happy about the fact that you don’t need to stake or initially invest something to start cashbacking, basically you can sold directly the PLU cashbacked, no brainer to me. I don’t know other cards with 3% cashback without staking or invest in, another cards?
I just want 250 PLU.
$PLU a has been flying the last couple of days.
has anyone used fusion swap or limit sell on 1inch? i got a low liquidity token (PLU) to gey rid of.
Yeah it's an irritating balancing act. Unless you can find a more friendly exchange. Don't know if maybe Kraken holds PLU? Be worth shopping around.
I wasn't aware of that, thanks. I always thought their Dex will match a buyer to a seller. Hence it sometimes took a few days until your PLU sale went through. If Plutus actually bought back the sold PLU on the Dex then that is a whole different story!
They have operational costs. Plus while their internal "DEX" was running they were buying back the PLU that people were selling. I think this is the main sinkhole they had, and they stopped it 1 month ago or smth with excuse of "refactoring" dex for 4 months.
There is still a sell order of 5000 PLU on KuCoin, just above the buy price.
Thanks for the information, I wasn't aware of that. With the exception of the top up bug you described, I don't understand is how they can go bankrupt though. They charge a monthly fee of up to 15€ to use the card. And the PLU token is printed out of thin air and solely backed by stakers buying into the eco system to achieve higher cashback. So the price or withdrawal of PLU should not affect the company's balance or put them into bankruptcy. What bothers me though is that there are too many cues out there already for this to be false.
1. 3 months is really a long time, and not a lot of people that use Plutus knows how to use MetaMask and send transactions to CEX/DEX. 2. Even if it's common, it does not mean that it's a good thing. It's a bad hapit in my opinion. 3. Defrauding is good, but they should have done this before, during the 45 days pending period! And also... I am quite sure that I did not do any transaction that violates T&C, but even if I did... the reward should just be rejected and the transaction continue to exist without fear of being banned. 4. I edited the post removing "mod" and replacing it with "ambassador". Some users report that it was a mod in Discord. 5. Why not? Selling pressure is relevant. 6. I would really like to know, but they won't say, they did not give me any PLU (not the one withdrawed the 4th, not the one available on the account and not the pending one). The refused also to give me back the subscription.
It’s really funny. You are saying you « do not stake just keep it with suscription » Fact is you have no idea of Plutus Business model. If I would be banned without reason I would mainly fight to understand the reason. An especially when they said in AMA yesterday that if they banned you for suspecting fraudulent use and it was not the case you should home back to them to get an answer. You did not and do not seem to want but instead you post a gigantic post here and then talk about a mortgage… Not insinuating anything just talking facts. 1- the company is in financial trouble : Can you explain how it would be in financial trouble ? And especially when all indicators that make them money went up, and they did not increased cost not a lot (estimation) 2- the company is preparing a rug pull Would be the worst rug pull ever. If you rug pull better going to maximise it. You do not spend x years and keep slow growth. Plus bring proves then, and more that « I feel it » they make audition on their side. 3- the company is scamming customers from they own tokens They do not earn money from PLU but I do not think you got the business model otherwise you would not recommend people to subscribe to their card since it’s one of the way they earn money. It’s quite easy how they earn money unlike all other cards where it’s shady. 4- Won’t even adress that. It’s funny in last AMA CEO said frauders were the most noisy right now on social network. Let’s resume : 1- you catch people with the termination of your account but yet it’s the last point of your topic and you do not seems to care or do anything about it. 2- it’s the second topic you do under 24 h on it and yet both are still there while you accusing them of rug pull and scamming 3- You are not able to prove one of your accusation. 4- please stop wasting time to people and stop FUD or next time bring real arguments and read the tokenemic before.
The name PLU sound silly, placid dong energy
I was using Plutus some time ago, I kept 250 PLU (around £180 at the time) so to keep my Level up, one day it was gone from my wallet the only interaction was on their DEX and mobile wallet, I left this scam and never looked back.
My reaction was there response, When a financial institution cannot disclose reasons its typically risk assessment such as fraud or suspicion of laundry (such as if the card is used exclusively to withdraw large amounts of cash). Could also be chainalysis since op mentioned he just withdrew plu (was it sent to a flagged address?) Or op was one of those who saw the post on how to defraud PLU by "farming" it (the fraud they recently tried to Crack down on). Remember cashback programs are not meant to be used by topping up other accounts, selling item back to the card (so +/- on net sum but profit on cashback). There probably is a reason for the block he won't tell us, or actually doesn't know.
The same reason that I requested mine and sold the staked PLU. Anyway, I could not understand how they think is normal asking for receipts of purchases done 4 months ago, or about a 1,40£ transaction.
Consider that I requested the first PLU withdrawal on the 4th. I never got that, I wrote to the support and after 4 days I got my account terminated. They do not even asked for proof of transaction or receipts... and it were just 18 PLU (160€).
Thanks for sharing this story. I knew that they had similar problems with cards, but I thought that they were just a small team that had to "learn" and face a lot of costumers. I really cannot stand the fact that their CEO it's so keen on advertising self custodial but then they lock the account and do not give users they earned PLU. You want to close my account because of some crazy reason that I will never know? Ok fine... but at least do not take away what I earned. If there was a transaction that was violating T&C they could have locked just that. I could have used another card for the last three months and earned cashback on that, so I am really pissed off.
I also had a bad experience with Plutus. I made an account about 1,5 years ago and in the beginning everything worked perfect. The problems started when I lost my plutus card and ordered a new one. Firstly it took months for it to arrive due to shipping problems (that’s okay, I can understand that) but once it was there I couldn’t activate it. I wrote to the support and then replied that I should send them all my personal information, including bank account and passport, over email, so that they can activate my card. When I replied them that it’s just a bug and they can activate with one button and that I feel uncomfortable to share all those sensitive information via email I got the reply: you‘ve done it once, so what’s the problem now? Yes, I have send my personal information but not over email and I don’t want to do anything connected to funds, I just want my card to be activated. They didn’t activate it and I said f*ck it. Since I had used the debit card for quite some time I had PLU, which I got as rewards, but I just kept it on the account because I didn’t want to give plutus up completely and thought I may use it in the future or just hold the PLU tokens there because they were in an uptrend. Oh boy they just terminated my account and didn’t give a f*ck about the PLU on it. And honestly I have no nerves to talk to the support. I’m so disappointed by yet an other crypto project that looked promising and legit….