Arrival of PLU Withdrawal

Plutus
Plutus
Jul 31, 2020 · 4 min read

For the last four months, our members have been earning 3% of every purchase back in our native crypto token, Pluton (PLU). In this very short period of time, they have amassed huge savings worth hundreds of thousands of Pounds/Euros which is a testament to the value of our Premium service.

We can now happily announce PLU withdrawal functionality! Currently, our Premium and Pro members can view their well-earned savings in the Pluton dashboard of their account. You can now withdraw these PLU savings to your personal cryptocurrency wallet to do as you wish. Enjoy the full non-custodial experience and retain sole ownership of your assets!

In line with this, we have enabled PLU swap functionality. You can now swap your earned PLU for fiat straight from the Pluton dashboard and the money will arrive immediately in your Current Account* or Plutus Debit Card ready for spending.

We have made the process of withdrawing and swapping PLU as simple as possible so you can enjoy the incredible savings without any friction. In 2015 we announced the first concept of a decentralised loyalty reward and we have seen incredible uptake from the industry, both companies and users alike. This is a monumental step for the crypto ecosystem and one we hope you enjoy!

What are the limits?

There is no limit on how much PLU you can withdraw. PLU withdrawals are settled once a week on Thursdays, meaning you have up until midnight 00:00 BST on Wednesdays to submit your PLU withdrawal or it won’t be processed until the following week. This is so we can conduct a safety check, future iterations will shorten the timeframe so you have more flexibility over your earnings.

Validly earned PLU becomes available for withdrawal 45 days after the payment to prevent abuse of the rewards programme (e.g. returned items). For more details, please refer to our T&Cs.

For now, you can swap a maximum of £/€100 in PLU per calendar month. This is a temporary measure whilst liquidity is low on the platform and something we will increase and remove with time. Since our release, we have seen over a million pounds in transaction volume and last month alone we saw a 132% increase so we anticipate a limit raise in the not-so-distant future.

What is Next?

We currently have two amazing money-saving features:

Pluton Rewards = Up to 3% back in crypto (PLU) anywhere that your Plutus Debit Card is accepted.

Plutus Perks = Additional cashback at selected online retailers we have partnered with.

We have been incrementally adding some amazing Perks over the last few weeks, most recently Amazon! In August, we will be releasing the full range of Perks which includes the likes of Vodafone, Lenovo, Alibaba, and plenty of other household brands you all know and love.

After an August release, we will be progressively adding to our range of affiliate partners so you can constantly experience new and exciting Perks. There are many more to come and we are devoted to adding continual value to your favourite rewards programme.

We can also happily announce an extension of our exclusive bonus tier which includes 5% back in crypto (PLU) at Amazon across all accounts! We hope you continue to enjoy the deep savings on offer at one of the world’s largest and most popular e-commerce platforms.

What Does the Future Hold for PLU?

Over the last few months, the team has been working hard behind the scenes on some major developments that are yet to come to light. We are soon to embark on our biggest venture yet and we cannot wait to share the news. These are exciting times for Plutus so make sure you follow our Medium publication for the latest news and join our friendly Discord channel to chat with the community or team members.

Plutus

Bank on Crypto.

Plutus

A Finance app that offers banking features combined with a non-custodial wallet. Earn 3% of every debit card purchase back in crypto (PLU).

Plutus

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Plutus

Plutus provides an alternative to modern banking and combines it with the ease of access to cryptocurrencies. Earn 3% back in crypto! https://plutus.it

Plutus

A Finance app that offers banking features combined with a non-custodial wallet. Earn 3% of every debit card purchase back in crypto (PLU).