In a recently concluded crowdsale, Plutus raised over $1 million. Plutus is an exceptional mobile Bitcoin wallet. Through Plutus, one can make in-store purchases at NFC terminals. NFC stands for Near Field Communication. It only took nine days for the company to raise over $1 million in the flash crowdsale. An announcement from the officials of the corporation posited that they had not expected to raise such huge amounts of money. Through the funds, the company will be able to realize its Tap & Pay program and finalize its platform.

People should not be worried using Plutus is difficult. On the contrary, it is very easy to use Plutus. All one needs to do is deposit his or her Bitcoins by sending them directly to the wallet of the person purchasing them. The second step is receiving your fiat balance. When the Bitcoins are sent, the cash equivalent of the deposited Bitcoins will be reflected on your virtual debit balance. This way, you will have funds to make in-store purchases. The last step is tapping and paying for your goods. After the deposit, your Plutus wallet is ready to be used. You only need to show your phone to the card reader and you will have completed your payment.

Users of the Plutus app are rewarded with Plutons. Plutons are digital tokens that increase with every purchase. The Plutons earned can be converted through the Plutus exchange network, thus allowing one to make in-store purchases with no fees charged on conversion. One can distantly compare these tokens to the frequent flyer programs or cash-back points. According to the company’s website, one will receive rebates in Plutons for every Bitcoin conversion made on the app. The rebate starts at 3% but declines with every growth of the network to reach 0.01%. It is possible for one to transfer his or her earned Plutons to different users on the app. Moreover, one can convert them on the Decentralized Exchange Network (DEX) in a similar manner as Bitcoin.

The reward system is designed to make it possible for the normal day-to-day use of Ethereum and Bitcoin. The problem of having weak merchant espousal of Bitcoin is solved by connecting smart contracts and block chain technology with the NFC payment system. Smart contract generates an address that receives the coins and forthwith, forwards them to authenticated traders available on the DEX platform. The smart contract goes ahead to notify the DEX database to automatically fund one’s virtual debit card with an amount equal to that available in your local fiat currency.

PlutusDEX plays a crucial role of providing Plutus’s liquidity. PlutusDEX is a peer-to-peer trading network. It runs as Dapp on the Ethereum block chain. Dapp is an autonomous gateway application. The Plutus app has features such as control and stop limits on your private keys. This means that one is free to trade on the go while at the same time using Plutus app for the day-to-day purchases.

Through the Bitcoin Tap and Pay application, a user is able to undertake countless Bitcoin payments to different merchants having an NFC-enabled terminal. The objective of Plutus is to provide an incentive for and make it possible for the practical usage of Bitcoin. In the end, the company is optimistic that it will accelerate mass-consumer adoption.

Plutus was born because of the slow pace of merchants to start spending Bitcoin on a daily basis. In the recent future, the company believes that many people will be undertaking everyday purchases using Bitcoin. The platform guarantees cryptographically and effortless secure payments.