Wirex Review

Wirex Review

Robert McDougall 

January 2, 2023

Cryptocurrency

Many people are still reluctant to invest in cryptocurrencies or use them on a daily basis due to the fact that digital assets are not easily accessible. You cannot readily buy, sell, or exchange crypto without registering on a crypto exchange, and you cannot easily spend it. You can only withdraw crypto to your external wallets or convert them into fiat currencies to use your profits in the real world. Wirex came into business to solve this problem efficiently.

What is Wirex?

Wirex is an innovative payment solution for those who want to spend cryptocurrencies and fiat currencies from a single wallet easily. They are on a mission to make cryptocurrencies more accessible to the everyday person. It is free to register on their platform and get started within a minute. Wirex provides a suitable range of cryptocurrencies and traditional currencies, to make purchases even easier. Their features do not end here; in fact, Wirex has made sure to go above and beyond to offer plenty of feasible options that can really improve one’s experience with digital assets.

Starting with their crypto debit cards, Wirex allows users to make purchases worldwide with their cryptocurrencies easily. Just make sure that you are making a purchase with a merchant that supports Visa or Mastercard. With over-the-counter exchange rates, you can pay in any currency you want and wherever you want. That is also what makes Wirex cards ideal for international traveling and exploration. Other features like instant credits, super-fast crypto transfers, contact payments, and multi-currency exchange provide an enjoyable experience. Finally, you can get instant crypto cash back rewards, along with high limits and zero fees. 

About Wirex

Wirex is one of the very few names in the crypto industry that have made payments easier with the solutions brought by them. That is probably why they have grown globally, and as of now, they support users from over 130 nations. Not only that, but Wirex also has 4.5 million concurrent users using their services, crypto cards, and multi-currency exchange every day. The ecosystem they have created, along with the options to access their services through the desktop or mobile devices easily, attracts more and more people. The platform was launched all the way back in 2014, and it is going to be almost a decade since they stepped up and decided to bring convenience to the table of digital assets. The best thing is they are regulated and perfectly secure to serve the best interests of their users and offer them a flawless experience at all times.

Wirex Pros & Cons

  •                                                                Next-gen crypto debit card                                          
  •                    Multi-currency exchange and fast transfers
  • Multi-currency exchange and fast transfers
  •                                                             Premium and instant crypto cash backs
  •                                  Several digital and fiat currencies are supported
  •                                                                                    Get credit while holding crypto

pros 

Cons

  •  Several countries are not supported
  • Poor customer support
Pros
  • Get credit while holding crypto
  • Next-gen crypto debit card
  • Multi-currency exchange and fast transfers
  • Premium and instant crypto cash backs
  • Several digital and fiat currencies are supported
Cons
  • Several countries are not supported
  • Poor customer support

Wirex Features

The features and services of Wirex are best described below. Take a look and find out how Wirex makes it easier for everyone to include cryptocurrencies in their daily lives and even benefit from the industry.

Instant multi-currency exchange with the best rates

It doesn't really matter if you own cryptocurrencies or not; with the instant multi-currency exchange offered by Wirex, you can always buy them with fiat currencies that too at the best rates. In short, they provide full control to their users over their money so that they can exchange, buy, or hold the assets they actually want. If you think it is the right time to sell a digital asset, you can exchange it for fiat currencies and withdraw them. The same scenario implies when it comes to purchases of crypto assets, as you can exchange them with ease through the fiat currencies you own.

Lastly, Wirex guarantees the best exchange rates so that you do not have to pay extra anywhere and enjoy an affordable and cheap experience while getting the best services.

Super-easy crypto transfers

As Wirex believes in offering full control of money to their users, they have made sure to make crypto transfers easy and convenient too. Wirex accepts crypto deposits from several sources, including all external crypto wallets as well as exchanges. You can initiate a withdrawal from any of those sources, and you can receive the funds in your Wirex account within the given time period. You can also withdraw or send the funds in the same manner, and Wirex will offer you the best OTC rates to fulfill your demands.

The next-gen Wirex card

When Wirex highlights their crypto cards as next-gen, they truly mean it. And, of course, the benefits and the features are there to prove how convenient and futuristic Wirex crypto cards actually are. The unique thing about Wirex cards is that they are not only limited to cryptocurrencies, but you can also top them up with fiat assets. That is also what makes Wirex cards the best option for travelers and explorers who love visiting different countries and cities. What Wirex does here is that they automatically convert the cryptocurrencies you have in your Wirex wallet or the fiat assets into the local currency of the country you are in at best possible and over-the-counter rates. 

You can easily shop with literally any merchant that accepts a Visa card which makes purchasing, traveling, and dining out easier. Wirex claims that you can use their cards at over 80 million merchants in the whole world, and of course, it is enough to cater to you wherever you go. And lastly, Wirex cards come with significant limits as you get up to SG$400 ATM withdrawals per month along with absolutely zero maintenance fee.

Up to 2% crypto cash back rewards in all spending

Probably everyone loves free money, and Wirex has made sure to bring something that can actually benefit the end user here. When you use your Wirex card, it does not matter whether it is an in-store purchase or an online purchase; you can get up to 2% crypto cashback that gets instantly deposited in your Wirex account. The rewards are credited in the form of WXT, and you can later exchange or keep it as per your preferences. But the thing is, you will always get a chunk back out of your spending allowing you to save up a little more than you usually do.

Earn up to 16% APY on different currencies

The idea of making money with money is truly amazing and something most people do not take into account. In case you are saving up some cash in your bank account and not making anything out of it, then you are missing out on some great opportunities that can give a boost to your overall earnings. With Wirex X-Accounts, you can earn up to 16% on different currencies without doing anything literally. The best thing is this feature is not only available for crypto assets, but you can also earn this much APY on your fiat assets stored in your Wirex account.

All you will have to do is set up an X-Account in your Wirex app and top up the account with your preferred currency. But make sure to see how much APY you are getting on a particular asset so that you can evaluate what asset would give you the best possible returns at the end. Besides that, Wirex again gives you full control over your money even with this feature, as you can withdraw your assets anytime you want without paying any penalty or a fee whatsoever. 

Instant credits with crypto collateral

Bitcoin and Ethereum are unquestionably few of the biggest cryptocurrencies in the industry with the chance to grow a lot, and it is quite understandable if one would not want to sell them even if they really need some funds to use. Well, if you are in a scenario like that, you can use your BTC or ETH tokens as collateral and get stable assets in return for your needs. With Wirex credits, you can get credit with a single click safely and securely. Wirex provides 80% of the collateral you have provided as credit, and you can repay the loan whenever you want. There is no fee or transfer charges, but of course, you will have to pay a variable interest rate depending on the time you are going to repay.

All-in-one Wirex wallet

Wirex has created a cross-chain wallet that allows you to indulge in the web 3.0 industry along with the DeFi industry to easily store, stake, grow, and exchange your assets. You can store a wide range of NFTs and digital currencies in your Wirex wallet and keep them perfectly secure and safe. The best thing is, Wirex has partnered up with AAVE and Compound to offer their users the best possible yielding rates. You can earn up to 25% APY interest on your assets while they are in your wallet. You can also effortlessly swap your currencies without paying a hefty fee and have any currency you want at the right time. With the Wirex wallet, you can also send digital assets with ease or withdraw them to another wallet, offering you full control over your money without any restrictions.

State-of-the-art security precautions

Wirex does not take security lightly. The platform has partnered up with world-renowned security firms from all over the world that use state-of-the-art technology to provide a secure environment to their users. Wirex uses multiple methods to keep everyone protected, including facial recognition, biometrics, and real-time processes, along with countless monitoring tools to keep all fraudulent activities in check. With the cold-storage system, your funds are always stored offline and are only available for you to access. Besides that, you can also enable a few account security options from the settings to avoid any type of mishaps.

Supported cryptocurrencies on Wirex

Wirex supports a wide range of cryptocurrencies allowing users to easily purchase, sell, swap, and hold on to any asset they want. There are over 100 cryptocurrencies that you can utilize on Wirex, and the platform also adds new cryptocurrencies every now and then to keep their users updated with the best assets. The best thing is almost every big name is available on Wirex to buy, sell, or stake so that you won’t have to miss out on opportunities. You can even diversify your portfolio with this much variety and keep your assets safe with the Wirex wallet. 

Following is just an overview of the assets that are available on the platform:

BTC         

ETH         

LTC         

XRP         

DOGE         

WXT         

XLM         

DOT         

SHIB         

AVAX         

LINK         

AAVE         

There is even a good variety of stable assets available on the platform, which includes USDT, USDC, DAI, XSGD, USDP, and a few more. With a few rising stars listed, like SHIB and ATOM, you can expect to make a good profit by holding them or staking them on the platform.

Wirex Token — Native Wirex token

Wirex has its own native cryptocurrency, too, which is based on multi-blockchain technology consisting of Stellar Network and Ethereum Blockchain. The combination of both blockchain technologies allows the WTX to be faster, more efficient, and more flexible than ever. The main purpose of the Wirex token or WTX is to reward the users on the platform for their loyalty or to reward them the cash back. But the asset also has got potential to grow and can profit in the future if the platform keeps growing and people start using their services.

Wirex Customer Support

It is actually quite crucial for the users to get the needed help in case they face a problem with their financials or any service offered by the platform. To cope with this problem, Wirex has created multiple departments that are solely focused on providing solutions to the problems of the users. You can simply visit the contact page of Wirex and check out the available departments. That is where you can fetch the email address and email your concern to get a reply in a few hours. But one negative here is that Wirex does not have live chat support or phone support that could help the users instantly.

Every time you face a problem, you will at least have to wait for a few hours as you will be getting replies through emails. Or else, you can check out their FAQs section and help center to access countless articles and guides written to solve your queries. It will be much quicker and more efficient to find a solution from the help center rather than emailing a long paragraph to get a reply after a

Wirex Mobile Support

Probably one of the best things about Wirex is that it is not only limited to desktops or laptops. You can easily download Wirex mobile applications and access pretty much everything right from your handheld device. The Wirex mobile applications are available for Android users as well as iOS users. You can simply visit the respective application store of your smartphone, and you will find the app available there.

The biggest benefit of Wirex mobile app is that you can always have full control over your funds wherever you are and whenever you want. There is a dashboard where you can get an overview of everything and keep all the things in check. You can also manage your cards and check out the spendings and the cash back you have earned. Not only that, but you can also use Wirex mobile app as a crypto wallet, as you can easily send, exchange, swap, or stake digital or fiat currencies with ease.

Wirex fees for users

Standard Plan

This is the free plan of Wirex that is designed for users who don't want to spend money, but still want to enjoy the premium services of the platform. Of course, the standard plan comes with a few disadvantages, like decreased cash back percentage on your spending through a Wirex card and no annual savings bonus. With the standard plan, you can only earn 0.5% cash back with your card.


If we talk about the other features, they are standard for all and do not change; it does not matter what plan you are going with. You still get to spend over 150 currencies, receive the best rates, and have free ATM withdrawals with a limit of €400.

Premium Plan

The premium plan comes with a fixed fee of €9.99 per month. There are two significant advantages of going with a premium plan, and one of them is the 1% crypto cash back on your spending, and the other one is the 4% annual saving rewards on WXT. Other than that, you get all the standard features of the platform without any major restrictions.

Elite Plan

This is the most expensive plan of Wirex, but it also comes with greater benefits. With the elite plan, you can earn 2% cash back with your Wirex card spending and get 12% annual saving rewards on WXT tokens. But do note that the elite plan of Wirex costs €29.99 per month, which can be quite expensive.


The standard plan is the free plan of Wirex that is designed for users who don't want to spend money, but still want to enjoy the premium services of the platform. Of course, the standard plan comes with a few disadvantages, like decreased cashback percentage on your spending through a Wirex card and no annual savings bonus. With the standard plan, you can only earn 0.5% cash back with your card.


If we talk about the other features, they are standard for all and do not change; it does not matter what plan you are going with. You still get to spend over 150 currencies, receive the best rates, and have free ATM withdrawals with a limit of €400.

The premium plan comes with a fixed fee of €9.99 per month. There are two significant advantages of going with a premium plan, and one of them is the 1% crypto cash back on your spending, and the other one is the 4% annual saving rewards on WXT. Other than that, you get all the standard features of the platform without any major restrictions.

This is the most expensive plan of Wirex, but it also comes with greater benefits. With the elite plan, you can earn 2% cash back with your Wirex card spending and get 12% annual saving rewards on WXT tokens. But do note that the elite plan of Wirex costs €29.99 per month, which can be quite expensive.

Wirex Standard Fee and Limits

You should now have a pretty good idea about how different plans at Wirex work. Now let’s take a look at the standard fee and limits of Wirex, which applies to all types of users.

Account maintenance fee

Free

Account creation fee

Free

Card maintenance fee

Free

Card issuance fee

Free

Card replacement fee

Free

Card delivery fee

SGD 5-25  (Depending on your country)

Credit/debit card top-up fee

1.49%

Fiat Exchange fee 

Free

Crypto Exchange Fee

OTC rates + commission

Crypto Deposit Fee

Free

Crypto Withdrawal Fee

 Varies depending on the asset or selected network

ATM Withdrawals 

2% after exceeding the free withdrawal limit

What do the reviews and ratings show?

Wirex is really popular with the most trusted review sites, as thousands of people have shared their thoughts and ratings on those problems. For instance, if we take TrustPilot into consideration, Wirex has been reviewed by over 10,000 users, and the platform has an average rating of 3.0. While it is not the best rating, the number of reviews shows that many people trust them with their money and rely on their services. More than 50% of the reviews on TrustPilot are 5-star reviews.

The main concerns that people showed were the slow customer support of the platform, verification problems, and card stopping suddenly. It is true that Wirex really needs to improve their customer service and take their game to the next level. Besides that, Wirex also got an average rating of 3.6 stars on both Android and Apple stores. It is a good sign for those who are looking forward to using their services on their mobile devices.

How does Wirex compare with the competition?

When it comes to competition, Wirex usually has the upper hand due to their unique features and card services that are not easy to find. If we compare it to BlockFi, the platform only offers 1.5% cash back as compared to 2%, which is offered by Wirex. Wirex is a lot better in terms of currency support, too, as the platform supports both crypto assets and fiat assets, whereas the crypto cards of Nexo don’t. Not only that, you can spend over 150 currencies with Wirex with the best possible rates; on the other hand, the Bitstamp crypto card only supports 50 currencies.

Wirex is also a bit lenient when it comes to fees and limits. The platform does not charge for card issuance, card replacement, and other types of fees. You can also stake assets with your Wirex card and earn up to 16%, which is a much better APY than the rate offered by the Crypto.com card, fixed at 5%.

How safe is Wirex?

Wirex is one of the safest crypto platforms you would find on the internet. Right off the bat, the platform has partnered up with world-renowned security firms which use state-of-the-art technology to keep the data and funds of their users safe. Starting with biometric and facial recognition, these features allow users to have full custody over their funds without worrying about anyone else accessing their accounts. Besides that, Wirex also uses other security features like SSL to protect the conversations of the users and keep them confidential. 2FA and multi-signature technology make it impossible for the transactions to be processed without going through the original owner.

What makes it unique?

The most significant thing that makes Wirex unique is their support of digital and fiat assets at the same time. Not only that, but Wirex has combined this aspect with other premium aspects, which makes it even more beneficial for the users to use their services. Besides that, you can take a loan from Wirex by providing collateral or stake your assets to earn a great deal of interest at the end. You can also use Wirex as a wallet that also provides the best exchange rates and quick and easy transfers. In short, Wirex is an all-in-one service that is unique and profitable due to its latest-gen features.

Frequently Asked Questions

 Is Wirex a credit card or a debit card?

Can you use Wirex without ordering a card?

How can you earn money with Wirex?

Is Wirex available for users living in the US?

Can you buy and sell cryptocurrencies with Wirex?

Is it safe to use Wirex?

Is Wirex expensive to use?

Can you also deposit fiat currencies on Wirex?

Conclusion

There is no doubt that Wirex has been submerged as one of the best crypto payment solutions for people all over the world, and they are continuing to improve their services and enhance them even further. The platform, which was started all the way back in 2014, now has millions of customers because they brought what not many in the industry are working for. Wirex made crypto payments easier, crypto spending easier, and made the overall blockchain a lot more accessible for everyone. Now you can pay with cryptocurrencies, easily shop, and use your Wirex card with thousands of merchants worldwide for easy traveling.

The best thing is it is very easy to get started with Wirex and top up your Wirex card. You also get the best exchange rates, earning opportunities, the best cash back rewards, and a lot more at a single place when you sign up for Wirex. You can join Wirex right now and experience a whole new way of spending your cryptocurrencies and keeping them safe.

Marketplacefairness.org provides all its content for informational purposes only, and this should not be taken as financial advice to buy, trade or sell cryptocurrency or use any specific exchange. Please do not use this website as investment advice, financial advice or legal advice, and each individual's needs may vary from that of the author. This post includes affiliate links with our partners who may compensate us. 

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