Wirex Review | Easily Spend And Transfer Money With Crypto

Cryptocurrency is on the rise. But spending your cryptocurrency can be more challenging than you might have anticipated. This is especially true if you want to use your cryptocurrency for personal purchases.

The same can be said for transferring crypto to a friend or family member. While many cryptocurrency platforms allow transfers, the process can be cumbersome and often involves a fee.

Wirex wants to solve both problems. The company provides an easy way to pay with crypto or fiat currency through a single card and transfer crypto assets to other users. Let’s take a closer look at what Wirex has to offer.

Send free cryptocurrency and fiat to other Wirex users Get up to 2% back in crypto rewards on your debit card spend Earn interest on select traditional currencies and cryptocurrencies

Debit Card Crypto Rewards

$10 in WXT when you open an account

What is Wirex?

Wirex is a digital payment platform that allows you to use traditional or cryptocurrencies anywhere. The company was initially called “E-Coin”, but since 2016 the company is called Wirex.

Wirex is based in London, UK, but the team members come from all over the world. Currently, the company has more than 3.5 million members and is available in more than 150 countries. Wirex was launched in the US in February 2022.

What does it offer?

Wirex provides an extremely useful tool for cryptocurrency users who want to spend their money in real life. These are the features that stand out.

Spend 37+ Traditional and Cryptocurrencies

Cryptocurrency has become more and more popular in recent years. As the popularity of this type of currency increases, more users are looking for a convenient way to spend their money. Wirex promises to provide a seamless way to issue both fiat and cryptocurrencies from a single card.

With the Wirex Mastercard you can spend in more than 37 cryptocurrencies. The company’s website also states that free cash withdrawals up to €400 per month are possible. But it’s unclear whether cash withdrawals are supported in the US

In addition to Wirex’s own card, the company also allows users to link up to five external debit or credit cards to your account. So if you already have a rewards card that you love, you can load your Wirex cryptocurrency funds directly onto it.

Free transfers between Wirex users

Many use peer-to-peer payments like Venmo or Cash App to send money to our friends and relatives quickly and for free. But it can be harder to share crypto. Usually, you have to manually enter the recipient’s public wallet key. Also, several cryptocurrency platforms charge withdrawal fees on wire transfers.

But with Wirex, internal transfers are completely free. Your address book can also be customized to make it easy to complete transfers to your contacts in just a few clicks. The goal is to provide a borderless and hassle-free payment experience.

It should be noted that transfers are only free if they are between Wirex users. If you transfer your crypto to an external address, there are costs involved.

Cryptoback™ Rewards

Do you want to be rewarded for your expenses? The Wirex Mastercard offers the Cryptoback™ rewards program. You can earn up to 8% cash back on purchases made with this card in person or online.
You will receive the rewards in cryptocurrency.

Intuitive mobile app

You have an intuitive mobile app to manage all your expenses through Wirex. The app is designed to promote a limitless banking experience. Along with that, you’ll find an app designed to make your payment options as easy as possible.

Based on user feedback, both the Android and iOS apps seem to provide a satisfactory to pleasant experience. Wirex has earned 4.3 out of 5 stars in the Apple Store and 3.5 out of 4 stars in the Google Play Store.

Wirex Wallet

The Wirex Wallet is a keyless, non-custodial crypto wallet. It not only allows users to store crypto and NFT assets, but also earn up to 25% APY when staking rewards. The wallet makes it easy to exchange DeFi tokens across several of the most popular blockchains. And it gives access to a large number of dApps.

X accounts

In June 2021, Wirex announced that it would launch interest accounts it calls X-Accounts. X-Accounts offer up to 16% interest on select fiat and cryptocurrencies. Wirex also says that withdrawals will be free and instant on X-Accounts.

Here are the currencies currently supported and their interest rates:

British pound: 10%Euro: 16%Bitcoin: 10%Ethereum: 10%Zodiac sign: 10%Litecoin: 10%Aave: 10%maker: 10%Chain link: 10%

X-Accounts are not yet available in the US, but should be launched there soon.

Related: Top Crypto Interest Accounts of 2021

Are there any costs?

You can open a Wirex account and receive a free card. However, you may have to pay between $5-25 if you want expedited card delivery. There are no annual costs associated with the card. ATM withdrawals are also free up to $250 per month, but are charged 2% after that.

If you choose to link an external debit or credit card, you can transfer free fiat money from your Wirex account to the card. But you pay a 1% fee to transfer crypto from Wirex to the external card.

While we were pleased to see that there are many fees Wirex doesn’t charge, we were disappointed to find that the company can be vague about the fees it charges. is doing attack. For example, it says it charges “OTC fees + commission” for its crypto exchange services. And for third-party crypto transfers, it just says that “Blockchain fees apply.”

How does Wirex compare?

Wirex provides a useful tool for customers who want to make real-life purchases with crypto and transfer their crypto assets to others for free. But Wirex is not the only company to offer these services.

Coinbase also offers free transfers between Coinbase accounts and makes it easy to send the money by supporting email address and QR code transfers. It also offers a rewards card that earns back up to 4% with no annual fees.

Celsius is another top option if you want to transfer money for free. The company never charges withdrawal fees. And yes, that also applies to external recordings. Celsius has also announced that it will be launching its own crypto reward card soon. Here’s a closer look at how Wirex compares:

How do I contact Wirex?

If you need assistance regarding your Wirex account, you cannot contact the company by phone. You must submit a request earlier.

If you do get in touch with an issue, you may have trouble resolving it through Wirex’s support team. While the company has earned 3.4 out of 5 stars on Trustpilot, over 25% of users reported having a bad experience.

How do I open an account?

If you live in an eligible state, you can select “Open an Account” on the Wirex home page. Alternatively, you can start the process by downloading the Wirex app to your phone. From there, you need to provide some basic information such as your country of residence and your email address.

Then Wirex expects you to confirm your email address via a link. Once your email address is verified, add more information about yourself, including your address and phone number. You must provide supporting documents to verify your identity.

A quick in-app questionnaire completes the application process. All in all, setting up your account takes less than 15 minutes.

Is it safe and secure?

Wirex works hard to provide a safe experience for its users. The company is PCI DSS Level 1 certified and its servers are encrypted with 256-bit SSL.

Wirex has partnered with: fire blocks to store the crypto funds held on its X accounts. Fireblocks is considered to be one of the most secure cryptocurrency custodians available today. Its insurance policy covers not only assets in storage, but also transfer and E&D.

In addition to certifications and licenses, Wirex offers multi-signature, cold-storage cryptocurrency accounts to provide comprehensive protection. Plus, two-factor authentication helps keep your accounts safe.

Is it worth it?

Wirex could be a good solution for a specific need. If you want the ability to spend and transfer your cryptocurrency funds just like you do with fiat money, Wirex offers a streamlined solution.

However, you may not be impressed with Wirex’s customer service experience. It also supports fewer cryptocurrencies than other platforms and is less transparent about the fees for crypto transactions and external transfers.

If you’re not sure if Wirex is the right choice for you, there are plenty of other cryptocurrency platforms to choose from. Compare the best cryptocurrency websites here >>>

Wirex Features

Supported Fiat Currencies

EURGBPCADCZKHUFPLNRONHRKUSD

Supported cryptocurrencies

Top up external debit/credit card

Crypto Account: 1%
FIAT Account: Blockchain Fees Apply

Internal: FreeExternal: Unclear

First $250 per month: Free

All additional withdrawals: 2%

*ATM access may not be available in the US

Maintenance Fee for Wirex Cards

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