What is Plutus crypto debit card and how has PLU token fared?

Highlights

• Most of the major assets in the cryptoverse are trading at a lower price as compared to Jan 1
• Plutus is offering debit card services, and spenders are entitled to crypto rewards, it is claimed
• PLU crypto had a positive YTD as of writing, but cryptos can be very volatile in price terms

Bitcoin (BTC) and Ethereum (ETH), which together have over 60 per cent share in the aggregate market cap of cryptoassets, had lost nearly 19 per cent and 25 per cent respectively this year as of writing.

Among top 100 assets, only a handful were in green on a year-to-date (YTD) basis, with Kyber Network Crystal v2 or KNC token having registered the highest gains. This highlights both the risks and rewards in trading volatile cryptoassets. As this industry expands further, new products like crypto credit cards are being launched.

Today, let’s know about a project, Plutus, which is claiming to provide crypto rewards to spenders that use its debit card.

What is Plutus cryptocurrency project?

The project is offering debit card services to users, with an added feature of crypto rewards, according to the official website. At the bottom of the website, it is mentioned that Block Code Ltd, the company that operates Plutus, is registered in England and Wales.

That said, the key highlight appears its Visa debit card, which if used by the spender can generate PLU crypto in return. The project is also stressing that it enables earning cryptos as rewards, instead of having to buy these assets over an exchange. It is claimed that users can deposit either GBP or EUR in the card to kickstart spending.

Also read: Explained: How many types of cryptos are there?

Plutus claims a minimum of three percent crypto rewards can be earned on spending. Staking the earned cryptocurrency can enable more rewards. The project is said to also offer decentralized exchange (DEX) services where a user can swap cryptos for fiat currency. Plutus DEX, the website mentions, facilitates crypto trading among members at no fee.

PLU crypto

CoinMarketCap has listed PLU token as Pluton. The market cap of nearly US$15 million is quite less as compared with assets like BTC and SHIB, but still, PLU token is listed among top 1,000 assets.

Also read: Is Gala Games different from others? How has Gala crypto fared?

A sharp rally in Pluton crypto was noticed in late January with price skyrocketing from under US$7 to over US$18. As of writing, Plutus crypto was trading at nearly US$8. The price and trading volume of PLU had gained in the last 24 hours.

Data provided by CoinMarketCap.com

Bottom line

Plutus claims to offer a debit card that can earn crypto rewards for spenders. The market cap of its native PLU token is very low. Plutus crypto has yet to enter the top 100 or top 500 list of assets. Though PLU token was trading at a positive YTD at the time of writing, the price has manifested fluctuations in 2022. This makes PLU token price prediction not only very difficult but also quite speculative.

Also read: What is Zhaka cryptocurrency all about and is it safe?

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