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

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:

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