Wirex Card Review
Wirex Card Review
Ultimate Wirex Card Review
If you have a Wirex card, there are several things that you can do to it. You can buy and store supported cryptocurrencies or connect your bank cards to it. This card is one of the ideal crypto cards in Europe because of the quick and low-cost exchange between cryptocurrencies and fiat currencies.
Moreover, people trust Wirex. They have over 2 million users and a volume of transaction that reaches up to 2 billion USD.
The main office is in London, but Wirex has branches in Ukraine and Japan. Even though they have branches in some parts of the world, Wirex card is only available in the European market. However, they are looking forward to expanding it to the US and Asia. Currently, the mobile wallet application is the only one available to almost 130 countries except for the US.
Aside from personal use, Wirex card also offers business payment solutions, which is an ideal feature for merchants. The supported currencies for fiat are USD, EUR, and GBP; for cryptocurrencies are BTC, DAI, ETH, LTC, NANO, XLM, XRP, and WAVES. There are different wallets for each currency.
Wirex Card Benefits and Transaction Fees
|Perks and Extras||• 0.5% cryptoback
• Refer-a-friend program
|Fees||• ATM Withdrawal
• Monthly Maintenance
• Card Management
|Card Options||Physical, Virtual|
|Supported Fiat Currencies||USD, EUR, GBP|
|Supported Cryptocurrencies||BTC, DAI, ETH, LTC, NANO, XLM, XRP, WAVES|
|Availability||European Economic Area (EEA)|
Account Registration and Funding
It is easy to register on Wirex. All you need is an email, password, document ID, and mobile verification. You also need to download the app.
You can fund your account in three ways:
• Bank cards
• Bank transfer
• Cryptocurrency deposit
If you will use cryptocurrency transfer to fund your account, the transfer limit per day is 10 BTC. If you will top up your account with debit or credit card, the limit is up to 5000 GBP or 5000 EUR or 5000 USD.
Fees and Limits
What makes Wirex one of the best crypto card options in the European area is that the transaction fees are low-cost and few.
There are no transactions, commissions, or funding fees, whether you fund your account through bank transfer, bank card, or cryptocurrency deposit. The currency exchange is free, as well as the delivery.
When you make your purchases, the transactions are generally free, whether you make your purchases online or in-store. Moreover, Wirex is transparent about all the fees and prices that you have to pay. You always see the cost of your product or service.
On the other hand, there is a card management fee and monthly maintenance fee, which are still cheap. The card management fee is 1 GBP or 1.20 EUR or 1.50 USD per month. The monthly maintenance fee is just 1 percent.
ATM withdrawal has fees too. If you make your withdrawals inside Europe, the cost is just 1.75 GBP or 2.35 EUR or 2.50 USD. If you are outside Europe, the ATM charge will be 2.25 GBP or 2.75 EUR or 3.50 USD.
It is costly when you need to withdraw a higher amount, and the ATM only allows smaller withdrawal amount. It means that you have to use the ATM several times. Wirex will deduct the fees each time you make your ATM withdrawal.
The ATM withdrawal limit per day is 250 GBP or 250 EUR or 250 USD. The purchase limit, whether in-store or online, is 7,500 GBP or 8,000 EUR or 10,000 USD per day. You also have to be mindful of the card balance, which is only up to 15,000 GBP or 16,000 EUR or 20,000 USD.
Rewards and Incentives
Most people also love using Wirex because of its Cryptoback reward program. By using the card, you can earn 0.5 percent of the price of your expense.
Wirex automatically adds your reward to your account. It is yours to keep. It is up to you whatever you want to do with it. You can redeem it at once or exchange it to other currencies.
When Wirex launched its WXT token, its rewards program has become more attractive. With WXT token, you can get a fee discount and a cryptoback rate that can reach up to 1.5 percent of your purchases.
In addition to their cryptoback reward system, they also have a Refer-a-friend program. Wherein, you can get up to 10 USD worth of BTC when you get your family and friends to sign-up and register on Wirex. You will also get 5 USD bonuses when your friend buys up to 100 USD worth of crypto assets or buys in-store.
Types of Cards
The type of card that you are going to use depends on the currency you choose. If you select the GBP card, you will get not just the debit card, but also a bank account number and a sort code.
On the other hand, if you choose the USD or the EUR card, you will only get the prepaid card.
Other crypto cards can be a better option than Wirex when it comes to availability and transaction fees. The Wirex crypto card is available only in Europe. Those crypto card users in other countries can only use the Wirex mobile app.
What makes the Wirex crypto card a good option is that the transaction fees for purchases for goods and services are mostly free. Also, shipping and currency exchange is free.
Although Wirex is one of the crypto card providers that offer low-cost and few transaction fees, some crypto card providers can be a better option, when it comes to the monthly maintenance fee. Some crypto card providers do not have monthly maintenance and card management fees and charge you per transaction.
Unless you use your Wirex crypto card a lot, it might not be the right choice if you rarely use your card.
Therefore, the Wirex crypto card is only advisable for those Europeans who love to shop and travel. If you are a shopper and a traveler, you will maximize the benefits of this card. You do not have to worry about commissions in your every purchase. What you only have to worry about is the monthly fee and the ATM withdrawal fee.
You will also get crypto back for your purchases using the card.
Also, what makes the Wirex card ideal for travelers is that it is one of the crypto card providers that offer low-cost fiat currency exchange and free cryptocurrency exchange.