They keep changing the rules
They keep changing the rules, you basically keep putting money in and are never able to take it out. There's red tape everywhere. I closed my account. I have lost hundreds of pounds. Honestly, they should not be able to run. The value of $plu keeps tanking as well.
So answering the reply below 👇🏽 £10 value my foot. It costs £9 to redeem a voucher worth £10. It's laughable. This really is a ponzy scheme, they blocked me on X as well.
"Don't buy it, earn it"?? We had to buy it in order to stake it for the rewards! Told you, rules change as they please.
Reply from Plutus.it
Hi,
We understand that changes to Terms & Conditions can feel overwhelming. However, each update over the last 6 months during the transition—voted on by the community—has been carefully considered with our customers' best interests in mind. As detailed in our whitepaper, these changes are vital for building a stronger ecosystem that can continue delivering exceptional rewards and innovative features.
Additionally, both the industry and Plutus have evolved significantly since 2015. After nearly a decade, it’s crucial to implement important updates to align with regulatory requirements, improve security, and ensure the long-term sustainability of our platform.
We’re committed to transparency and always provide advance notice of changes, giving you ample time to review and understand them.
The Plutus Card is specifically designed as a spending solution that delivers exceptional rewards for your everyday purchases and does not offer the same services as a bank or a typical debit card.As outlined in our Terms and Conditions, ATM withdrawals and outbound bank transfers from your Plutus account are not permitted.
Your funds remain fully accessible through your Plutus Card for everyday purchases at millions of locations worldwide. This focused approach allows us to offer industry-leading rewards and benefits that traditional banking services typically cannot match. Many of our customers find significant value in maximizing these rewards through their regular spending habits.
PLU is designed as a utility token, earned through everyday spending and used within the Plutus app for stacking, swapping, or redeeming real-world benefits. From 2025 onward, the in-app value of PLU will be directly tied to its utilities, which currently provide a minimum tangible value of £10.
Please note the following points for clarity:
External market conditions do not reflect the true value of PLU, as they are driven by trends and do not affect your ability to use PLU within the app to redeem for the £10 tangible value offered to all our customers.
We do not influence or make recommendations regarding the external use of PLU on third-party platforms and strongly advise against it.
Our founding principle is to let people earn tokenised rewards, reflected in our marketing slogan, 'Don’t buy it, earn it.'