Avoid like the plague
I don’t write Trustpilot reviews. I written about 7 in total. But sometimes you feel so strongly about something you have to do what you can.
For many many years I was a keen supporter of Plutus, buying their PLU token and religiously claiming every ‘Perk’ reward over circa 3 years. But with the ever decreasing value of the PLU token and the recent imposed necessity to withdraw tokens to an external wallet and their exorbitant supposed ‘withdrawal fee’ (costing approx 32% of the value of the withdrawal), I have come to the uncomfortable and sudden realisation that they have been taking me for a complete idiot mug for years. By my reckoning I have lost ballpark £3,920 (invested circa £4,800 in PLU tokens which are today worth circa £870).
Such a shame that such a good concept is used with short term customer manipulation mentality. They could have done really well if they had simply played the long game giving their client’s actual benefit. Instead they use smoke and mirrors to trap them to extort more money from them.
They are extremely devious and come up with seemingly endless varieties of supposedly Reward schemes, but in reality these are just means of extracting money from you.
I don’t regard myself as a fool and I am highly qualified professional. But Plutus certainly managed to take me for a complete imbecile of me. An organisation I had faith in and trusted for so long has been rogering me all the time for years and obviously laughing behind my back at what an idiot I have been.
Extreme risk. Avoid like the plague.
Reply from Plutus.it
Hello Mark,
Plutus offers a rewards programme based on real-world spending and loyalty, not speculation or financial investment. +PLUS is a loyalty point, not a tradeable asset. It delivers value through discounts, cashback, travel perks, and gift cards that customers can redeem directly.
Our goal is to deliver benefits that customers can redeem for real-world savings, not use on unsupported or prohibited platforms.
Transparency has always been a cornerstone of our product development. All upgrades and updates to our terms were clearly communicated in advance and approved by the community.
As explained on our fees page, rewards payout fees have always been dynamic, depending on factors like Ethereum network gas fees and token usage within the Plutus ecosystem. These fees were part of the system from the beginning, and have been free for a long period, and then adjusted dynamically with GAS and service fees, it’s not something newly introduced. The latest fee would have been shown in the app before you made a payout, so you’ll know the cost upfront.
Recent updates were guided by community votes and data, including the decision to discontinue unsupported third-party reward withdrawals. This ensures fair access and consistency for all customers.
From 2025 onward, the in-app value of +PLUS 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 +PLUS, as they are driven by trends and do not affect your ability to use +PLUS 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 +PLUS 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.'
If you're experiencing any technical issues or need help clarifying something, we're here to support you. If something doesn’t seem right with your account, please reach out to our support team so we can investigate and resolve it properly.
Whitepaper Community Votes:
- July 2024: https://www.plutus.it/blog/plutus-white-paper-2024-vote-results
- April 2025: https://www.plutus.it/blog/new-era-for-stackers-upgrade-to-rare-plu
Terms Update (+30 days notice):
- 2024: T&C Email sent 3rd Sept 2025
- 2025: T&C Email sent on 5th Feb 2025