Image by Pixabay.

In the past, my writings have primarily focused on well-established coins, and while I love my big three of Bitcoin, Ethereum and Litecoin, it’s always important to stay up to date on many different coins, especially if you’re hoping to find the next Bitcoin. Today I’ll be starting a new series of posts called, “Exploring Cryptocurrency”, where I’ll put together a post about a coin I believe will gain value over time. Essentially, I’ll be doing all research and dirty work to provide you with the basic knowledge needed for a particular coin. Of course, before investing in any coin, do your own research as well and make sure you want to invest in that coin. Unfortunately, not all the coins I review will end up being profitable for any number of reasons, but the way I see it, the more you know, the better judgement you can use in your own investing.

In these reviews, I’ll be looking at several statistical factors regarding each coin, to determine which coins will end up being profitable. Additionally, I will make use of charts and graphs to view the history of the coin, and attempt to apply the historical performance to future predictions. Societal hype and influence will be used as well, but I’m going to try to keep my analysis to analytical fact as much as possible. If you have any further questions about any coins that I did not answer in the post, please ask me in the comments or send me a message, and I will be happy to answer it to the best of my ability.

Now without further ado, I present to you:

Pluton

First released in September of 2016, Pluton is the cryptocurrency creation of tech startup Plutus. Run by CEO Danial Daychopan, along with a team of developers, Plutons were created to be digital tokens issued to users on the Ethereum blockchain. They can be compared with cash back rewards on a credit card. Users are automatically rewarded with a rebate paid out in Plutons for every Bitcoin deposit made towards a purchase. Every time a user shops with Bitcoin, they are rewarded.

Plutus allows users to pay the same way they would with a credit card, drawing from their hosted wallet.

Investors can use the Plutus app to transfer coins and cash, as well as for making payments the same way one might pay with Bitcoin. It is very easy to use since you can instantly convert Plutons to Bitcoin so you can tap and pay at any NFC terminal.

Plutus runs as a decentralized platform so they can automate their business and exchange system in a transparent and immutable manner. As a company, they were founded in 2015, and had their first crowd sale of Plutons in 2016. Plutus is a very transparent company, as they tell their users exactly how their invested money is spent and what their users are charged for.

After the initial crowd sale, Plutus announced that the limit for Plutons was set at twenty million, and you could no longer purchase Plutons, but that they could be acquired through using their app. This is because Plutus does not want the Pluton to be just another coin, but rather, they want to be the premier rewards service for the cryptocurrency market. Because of this, there are zero transaction fees when using Plutons, and your earned Plutons can be sent to other users, or redeemed in what they call the “PlutusDEX” in return for money towards your next purchase, all free of charge.

As outlined on the company website, Plutus.it, the system works in three simple steps. Top up your Plutus debit card with Bitcoin/Ethereum Pay at any contactless POS terminal with your card or phone Earn rewards in Pluton

How is It Performing?

Since its initial release more than a year ago, the Pluton has held its value extremely well, growing consistently in value, as well as trade volume per day. Upon release, Plutons were worth $3.09, and steadily grew in trade volume per day, starting in the hundreds of dollars and gradually increasing to the thousands. Now, Plutons are worth approximately $9.50 per coin, and many thousands of dollars’ worth of Plutons are traded each day.

Courtesy of CoinMarketCap.com.

The coin peaked in June of this year right around the time of their initial crowd sale. Now, it was traded for over $20 per coin, and hundreds of thousands of dollars’ worth of Plutons were traded each day. The coin never really crashed, but rather gradually reduced in price and value over time, which can be attributed to market stabilization. This coin also reached a market cap of over seventeen million dollars in June which has dropped with the rest of the figures, but remains strong, sitting right under ten million.

Outlook:

This coin may be different from other digital coins since it cannot be purchased, but don’t let that take away from the fact that it has grown by over three hundred percent in a year and a half. Currently, the Pluton has a market cap of just over $10 million, but honestly, that could rise to well over $100 million by the end of 2018. It’s already shown the ability to grow immensely this year, rising to a market cap of over $17 million earlier this year, and as Bitcoin and Bitcoin cash continue to grow and become more commonly used, the Pluton will grow with it.

Plutus is counting on being the first rewards system for paying with Bitcoin, but it also wants to be the best. The app is free to use and the coin accumulates as you spend money. There’s really no reason not to be using this app and this coin. I recommend the platform to any users of cryptocurrency, although, if you see cryptocurrencies as long-term investments to be saved rather than spent, this coin probably isn’t for you.

Have an opinion on Plutus? Let me know in the comments below!