Plutus/Pluton (PLU) consists of a mobile application and debit card this works by topping up your debit card using the mobile application, then spend digital currencies like Bitcoin, Ethereum, and Pluton anywhere in the world where VISA or MasterCard are accepted. They also state “every ETH or BTC deposit gives you a 3% reward” multiple Reddit users have reported getting scammed out of their ETH or BTC and are comparing it to a Ponzi scheme, but other groups of people have had no problems and highly recommend the project. The white paper can be viewed at https://bit.ly/2IdUPKQ (12 Pages).
How does this all work? First of all to get started users will have to download the Plutus tap & pay application then users can use the app to get a cryptocurrency card sent to them via mail, users then can top-up this card with ETH, BTC or PLU and use it in places that accept VISA or Mastercard. Plutus uses NFC-enabled terminal worldwide which will accept your Plutus card in store and also online. However, with multiple users claiming to the card to be faulty or not arrive is concerning but again there are mixed reviews and it could be another project trying to kill its reputation.
Plutus has its own exchange called “Plutus Dex” which on their white paper and website makes it clear on their website and white paper they are a decentralized exchange were you can purchase ETH, BTC, and PLU with zero fees, this in turn also works with the card any money deposited onto the card there will be no fees. Plutus pays all transaction using the Ethereum Network due to it being faster than Bitcoin Network. However in their white paper, if you are wanting to convert bitcoin a fee of one to four percentage will be decided, this is the only fee in the entire application, exchange and debit card.
However, there is a lot of red flags first of all their website consists of two different pages and doesn’t show off their white paper anywhere, it is actually listed on a different website. When the crowd sale took place some ICO investors did not receive some of their tokens at all, what makes it worse people who didn’t even buy into the ICO received tokens. Plutus has a twitter, telegram, and blog they are basically dead they get no community engagement which tells us they lack supporters or even users. They will make one small post a month sometimes not even relevant to the project this is terrible. Either this is a coincidence but there was a website called “Team Plutus” the ran a scheme similar to BitConnect were you would invest money and get a return every day what caught my eye was “your investments will receive no fees”. What else makes it even more strange was when “Team Plutus” got found out for this Ponzi scheme Pluton/Plutus appeared from thin air, either a huge coincidence or hmmm
Overall I don’t see much use for this project we already have other projects who have completed this before Pluton/Plutus in a much better fashion. I personally would be really cautious checking this out the amount of “coincidences” are too much for me. Either take the risk or reap the rewards just be careful and don’t put it what you can’t afford to lose especially in this project.
