Bonuses, rewards and other perks are a great way to attract customers. This has been a practice in different industries for many years. Now, Crypto seems to be doing it.
More people are enthusiastically adopting cryptocurrency. FinTech firms are offering benefits and experiencing positive consumer outcomes.
Plutus, which is a Crypto finance app, has launched a reward program on March 31, 2022 that gives up to 8 percent cashback when shopping using a Visa Debit Card.
Plutus is on the Rise
This was the most recent update that company has released. Rewards and accounts 2.0Includes the introduction of 4 new staking levels as well as 3 new subscription plans. The subscription levels and cashback available will determine the amount of Cashback (up to 8.8%) and how many Perks.
The company also offers 8% cashback and recently launched their updated Perks program, which includes around 20 Perks, including 100% rebates on Netflix Prime, Apple One, Disney+, Spotify, Prime and Apple Prime.
Interesting timing was also involved as Crypto.com had announced a reduction in rewards of their similar card 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.
The company was so criticized and rebuffed by its customers, it decided to reverse its decision. However, the new rewards program still offers less than Crypto.com’s initial offer.
Plutus, on the other hand was enjoying a high-profile ride. It was a huge success. First, traffic to Plutus’ website increased by 2 180% in less than 24 hours. PLU (the native symbol of Plutus) saw a value increase of 120% in the day following the announcement.
Plutus cards were so popular that it was revealed recently that there may be a shortage. Plutus took on more customers this weekend than ever since the beginning of 2022, after Crypto.com cut their rewards. Customers left Crypto.com because of its low rewards, and began to flock to Plutus.
Rewarding Yourself with the Power of Reward
This story just shows how crypto enthusiasts are open to changing service providers in order to obtain the highest value. This demonstrates how passionate crypto enthusiasts are and the extent to which they will invest in projects if they feel valued.
With the increase in crypto market size, there are more options for buyers. Companies must be vigilant if they want to keep their place on the crypto market.