Demand for Plutus Card’s 8% Crypto Cashback Release Explodes After Crypto.com Saga
09 Mai 2022 - 03:52PM
NEWSBTC
If there is any way to bring in customers that is almost foolproof,
it is through bonuses, rewards, and perks. Different industries
have done this for years and now, it seems that Crypto is doing the
same. As more people are enthusiastically embracing cryptocurrency,
many more firms in the FinTech space are offering rewards, and
experiencing positive consumer results. One of the latest examples
of this is Plutus, a Crypto finance app that, on March 31, 2022,
launched a new rewards programme that offers up to 8% cashback for
shopping with a Visa Debit Card. Plutus on the Rise The recent
update, which the company, termed Rewards and Accounts 2.0,
includes the release of 3 new subscription plans and 4 new staking
levels. These subscription plans and staking levels determine how
much cashback you get (up to 8%), and also how many Perks you get.
Alongside the 8% cashback, the company recently introduced their
revamped Perks programme, offering around 20 Perks including up to
100% rebates on Netflix, Spotify, Prime, Apple One, Disney+, and so
on. The timing of the announcement was also rather interesting as
Crypto.com, which had a similar crypto card, announced the slashing
of its rewards by about 70% shortly after on May 1, 2022. The
response to this was Crypto.com’s native token, CRO, dipping by
more than 30% within a week of the announcement. In fact, the
company received so much criticism and backlash from its customers
that it had to walk back on its decision, though the revised
rewards program is still less than what Crypto.com offered
initially. Meanwhile, Plutus was riding high as a result. The
response to this announcement was overwhelming and resounding.
First, the traffic to the Plutus website increased by 2,180%
virtually overnight. Then, PLU, the native token of Plutus, saw an
increase in value of 120% within a day of the announcement being
made. There was so much demand for Plutus cards that the company
recently revealed that they may run out. In the weekend after
Crypto.com slashed their rewards, Plutus onboarded more clients
than it had since 2022 began. This showed somewhat of an exodus,
with customers leaving Crypto.com with its depleted rewards and
flocking to Plutus. The Power of Rewards This saga just goes to
show that crypto lovers are looking for the best value for their
money and are willing to change service providers to do so. It also
shows just how passionate the crypto community is and how heavily
they are willing to invest in a project if they feel appreciated.
The industry is bigger than ever now and with this comes more
choices for crypto buyers. As such, companies have to stay on their
toes if they wish to secure a place in the market.
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