Wirex is an innovative app and payment card that allows users to seamlessly send, receive, exchange and spend a range of digital and conventional currencies.
Through the Wirex platform, users can make payments via its Wirex App and payment card, which support the spending of digital and conventional currencies.
At present, Wirex current supports 9 cryptos that include: Bitcoin (“BTC”), Dai (“DAI”), Ethereum (“ETH”), Litecoin (“LTC”), Nano (“NANO”), Ripple’s XRP (“XRP”), Stellar’s Lumen (“XLM”), Waves ( WAVES”), and Wirex Token(“WXT”).
Wirex also supports 16 fiat currencies that include Australian Dollar, British Pound, Canadian Dollar, Croatian Kuna, Czech Koruna, Euro, Hong Kong Dollar, Japanese Yen, Mexican Peso, New Zealand Dollar, Polish Zloty, Romanian Leu, Singapore Dollar, Swiss Franc, and U.S Dollar.
The platform supports 3 payment methods: debit and credit card and e-wallets.
Founded in 2016 and headquartered in London, England, Wirex falls under the purview of the UK’s FCA, the Bank of Lithuania, and Singapore’s MAS.
The platform supports countries across Europe and the Asia Pacific. Countries supported by Wirex include UK, France, Spain, Portugal, Germany, Italy, Poland, Czeck, Slovakia, Austria, Norway, Sweden, Denmark, the Netherlands, Romania, Australia, Hong Kong, New Zealand, the Philippines, Singapore, Taiwan, and Thailand.
Wirex Platform Attributes
Key attributes of the Wirex platform include:
- Easy and quick registration and verification process. The verification process can take a matter of minutes.
- Supports the deposit and withdrawal, exchange, and spending of cryptocurrencies and fiat money.
- Mobile compatible apps for both iOS and Android.
- Multiple deposit options including fiat deposits by Visa and Mastercard.
- Wirex Card allows users to spend fiat and crypto money.
- No additional fees to exchange fiat-fiat, fiat-crypto, crypto-crypto, or crypto-fiat.
- • X-Accounts: Users can earn up to 16% on their crypto and fiat funds.
- An easy-to-use platform.
- Regulated and licensed.
- Appropriate controls in place to protect users and their assets.
- Responsive customer support to assist users.
The Pros and Cons
- Regulated: Wirex is regulated by FCA, Bank of Lithuania and by the MAS.
- Customer Support: Users may contact customer support by raising a support ticket. The Customer Support team is extremely responsive.
- Fiat Money: Users may send, receive, exchange, and spend any one of 9 supported fiat currencies.
- Competitive Fees: Free multicurrency and zero exchange fees.
- Global Reach: Wirex is available in 130 countries worldwide and rapidly expanding.
- Segregated Accounts: All client money is held in trust, with Wirex clients the beneficiaries.
- Mobile Compatible: Wirex app is compatible for Android and IOS smartphones.
- Simple Registration Process: It takes a matter of minutes to register and generally less than 5-minutes to complete the verification process. Users are not able make deposits until the verification process is complete.
Other positives include
- Attractive rewards program: The Wirex Cryptoback rewards programme gives customers up to 2.0% back in cryptocurrency in-store transactions and online with a Wirex card.
- Interest on deposits: As a Mastercard Principal Member, Wirex offers a range of products and services. These include:
- Interest on deposits, with up to 12% savings bonus.
- Greater flexibility to offer best-on-market rates.
- Tiered rewards programme to benefit heavy users.
- Security: Strong emphasis on security and the use of segregated accounts to ring-fence users’ assets.
- Referral Program: Users can earn BTC on referrals and by using the Wirex Card.
- Wirex currently supports 9 cryptocurrencies. These are among the largest cryptos by market cap, however.
- There is no demo account for users to familiarize themselves with the platform. The platform is simple to use, however.
- The platform does not offer charts and indicators to cater for technical analysis.
- Brokerage Services, Supported Cryptocurrencies & Payment Methods
- The Details
- Wirex Accounts
- Deposit & Withdrawal Options
- Key features of the Wirex platform
- Privacy and Security
- Customer Support
- Additional Information
Brokerage Services, Supported Cryptocurrencies & Payment Methods
Wirex delivers a platform that allows users to send, receive, exchange, and spend a range of digital and conventional currencies.
After launching the first crypto-enable Visa card back in 2018, Wirex became the 1st crypto-friendly Mastercard principal member in 2021.
Wirex enables its more than 3.1m customers to use crypto and fiat currencies interchangeably in day-to-day life.
For users looking to deposit fiat money, Wirex offers multiple deposit options including Visa and Mastercard.
Users who already own Wirex supported cryptocurrencies may transfer these to the compatible cryptocurrency wallets available on the Wirex platform.
To open an account, go to the Wirex homepage and click on the “Open an Account Today” icon as shown below: