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Plutus Gains Massive Traction from New 8% Crypto Cashback Programme

UTC by Benjamin Godfrey · 3 min read
Plutus Gains Massive Traction from New 8% Crypto Cashback Programme
Photo: Plutus

The Plutus Rewards & Accounts 2.0 offering was initially launched on March 31 and it included three new subscription plans and 4 new staking levels.

Plutus, a crypto startup that offers crypto cashback is seeing massive traction in its growth trends as it steps up its influence amongst competitors in the space.

The platform’s new rewards program, called Rewards & Accounts 2.0, has continued to draw more users as the incentive people can earn is now adjudged becoming one of the best in the industry.

The Plutus Rewards & Accounts 2.0 offering was initially launched on March 31 and it included three new subscription plans and 4 new staking levels.

Subscribers to this program get a massive 3% cashback on their spending, and for those who stake the platform’s native token, PLU, cashback is increased up to 8%. The cashback comes in the form of PLU which can be accumulated and staked to unlock additional benefits within the platform.

The new program also grants users access to up to 3 unique perks depending on their subscription levels. This can be increased up to 8 Perks if the users stake PLU. The Plutus platform is so designed that users can choose from a variety of perks running into 20 and these include 100% rebates at Netflix Inc (NASDAQ: NFLX), Spotify, Prime, Apple One, Disney+, and more.

The Plutus-associated perks are one of the most flexible in the industry as users can change their preferred perks each month. Besides these, the staking provision is designed for users to enjoy additional perks and is also non-custodial, a move that grants users complete control over their cryptocurrency at all times.

Crypto.com’s Rewards Policy Change Drove Plutus Growth

As a dominant player in the offering of crypto-related services, Crypto.com changed its rewards policy recently, cutting its rewards by 70%, a move that does not sit well with its community of users. As a result of this move, the room for a massive user growth was opened to Plutus as the trading platform’s users abandoned the exchange for Plutus.

According to Plutus’ Twitter, the company recorded a 2,180% spike in traffic the same weekend the announcement from Crypto.com was published, a trend that showed events that are not community-centered can easily be rebuffed. The crypto startup also recorded issuing more crypto cards in 5 days than it has recorded all through this year.

While the exchange partially reversed its decision due to the massive backlash, the rewards level still pales when compared to what they once were and Plutus has come as a solace for many who want a more suitable alternative.

Since the emergence of cryptocurrencies, a lot of companies have sprung up with the intention of creating an avenue by which users can spend their virtual assets. With the broader e-commerce world growing at a very fast pace, a number of platforms have been able to provide a linking point between industries in the traditional finance ecosystem with the emerging crypto world, and Plutus is one of the active players in the space.

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Benjamin Godfrey

Benjamin Godfrey is a blockchain enthusiast and journalists who relish writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desires to educate people about cryptocurrencies inspires his contributions to renowned blockchain based media and sites. Benjamin Godfrey is a lover of sports and agriculture.

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