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Conversion app Plutus facilitates cryptocurrency spends

Tony Zerucha

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  • Lets merchants exchange crypto for fiat
  • Plutus DEX instantly changes funds from crypto to fiat

The makers of a new app believe they have the means to help cryptocurrencies gain mainstream acceptance.

Plutus allows Bitcoin and Ether holders to spend their digital currency “contactlessly” with vendors worldwide. Its digital exchange platform lets merchants exchange cryptocurrency for pounds and euros.

“The launch of the Plutus Tap & Pay app is the beginning of day-to-day crypto usage,” founder and CEO Danial Daychopan said. “While people originally saw cryptocurrencies as investments, more and more people want to be able to spend them as they would any other currency.”

By providing a method allowing merchants to exchange cryptocurrency for fiat, Plutus hopes to encourage more vendors to accept cryptocurrency. Plutus users can also top up their app with Bitcoin, Ether or Pluton, the house cryptocurrency, and spend it via Plutus DEX, which instantly changes the funds from cryptocurrency to fiat without additional fees.

“Our system is the first that is safe for customers, easy for merchants and acceptable to banks,” Mr. Daychopan added. “It’s a push-only system and purchases are verified using the Bitcoin and Ethereum blockchains, secured by the most powerful distributed computing networks in the world.”

Plutus users can get up to three per cent back on purchases. Paid in Pluton, they can spend it in the app. They can also swap trade fiat and Bitcoin, Ether and Pluton on Plutus DEX which also functions as a peer-to-peer exchange.

“The launch of our cryptocurrency app is the start of a cryptocurrency revolution,” Mr. Daychopan predicted. “For the first time ever, crypto investors can use their digital currency online and in shops around the world.”

Plutus debuted in 2015 after raising more than $1 million in a crowdfunding round.

Tony Zerucha

Tony Zerucha is an alternative finance journalist with more than seven years experience in the space. The author of more than 1,000 articles, Tony was named LendIt's 2018 Journalist of the Year.

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