Wirex is an underrated crypto wallet and exchange platform offering a wide range of features to its users. Read this Wirex review, consider all of the platform’s pros and cons, and make the best decision for yourself!
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What is Wirex?
Wirex is an innovative app and payment card that allows users to send, receive, exchange, and spend a range of digital and conventional currencies. With the Wirex platform, users can make payments via its Wirex App and payment card, which support the spending of 9 cryptos including Bitcoin (“BTC”), Dai (“DAI”), Ethereum (“ETH”), Litecoin (“LTC”), Nano (“NANO”), Ripple’s XRP (“XRP”), Stellar’s Lumen (“XLM”), Waves (WAVES”), and Wirex Token(“WXT”). With Wirex, users can easily manage their digital and conventional currencies in one place, making it easier to send, receive, exchange, and spend money.
It is a London-based digital payment platform that supports 16 fiat currencies and 3 payment methods. Founded in 2016, the platform is regulated by the UK’s FCA, the Bank of Lithuania, and Singapore’s MAS. It supports countries across Europe and the Asia Pacific, including the 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. With Wirex, users can securely and conveniently make payments in 16 fiat currencies, including the 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.
Key Features of Wirex
Key attributes of the Wirex platform include:
The Customer Support team responds quickly: Customers can contact customer service by submitting a support ticket.
Fiat Money: Users can send, receive, exchange, and spend any of the nine supported fiat currencies.
Fees are competitive: There are no exchange fees and no multicurrency fees.
Global Reach: Wirex is available in 130 countries worldwide and is rapidly expanding.
Regulated: Wirex is supervised by the FCA, the Bank of Lithuania, and the MAS.
Simple Registration Process: Registration takes only a few minutes, and the verification process takes no more than 5 minutes. Users can’t make deposits until the verification process is finished.
Mobile Compatibility: The Wirex app is available for both Android and iOS smartphones.
Key Advantages of Wirex
With that said, let’s take a look at all of Wirex’s different features and highlight the best ones!
24/7 Customer Support
Wirex is a crypto wallet and exchange platform that provides 24/7 customer support. This is a rare feature in the crypto industry, and Wirex reviews show that users are very pleased with the customer service they receive. The support team is available all around the clock and can help with any issue, from Wirex Bitcoin withdrawals to debit card issues. Depending on the inquiry and account status, live customer support might not be available, but users report that response times are quick when submitting a ticket via the company’s official website. With Wirex, users can rest assured that they will receive the help they need, whenever they need it.
Bitcoin Debit Card Available
Wirex is a cryptocurrency exchange platform that offers its customers a unique feature – a Bitcoin debit card. The card is free of charge and can be used anywhere where Mastercard or Visa is accepted. It is based in GBP and is supported in almost 40 countries. On top of that, users can transfer up to £15,000 (or the equivalent in their currency) to the card. The best part is that users can receive up to 1.5% cashback in BTC through Cryptoback™ Rewards whenever they use the Wirex card as their preferred payment method. This is a great way to add to your Bitcoin balance without actively trading or exchanging BTC coins.
Fully-Functional Crypto Exchange Features
It is a great platform for crypto traders and hodlers, offering built-in exchange functionality and convenience. It allows users to purchase and exchange some of the main crypto assets with decent fees, all from the comfort of a single interface. It is especially useful for crypto newbies, as it eliminates the need to research and look for exchange or wallet alternatives. Wirex supports a limited list of crypto coins, but it is still a great option for those looking for a convenient and user-friendly platform.
A Model with Reasonable Fees
Wirex is a platform that offers a wide array of features and services to its users, including a wallet, exchange, and card. Account maintenance, card issuance, and card delivery are all free, no matter where you are in the world. As far as your account and card are concerned, the only fees involved are those related to card maintenance, which may not even apply in some areas. When it comes to the exchange part of the platform, Wirex offers competitive fees, with 0.5% for crypto-to-fiat conversions and 0.2% for crypto-to-crypto conversions. Additionally, Wirex offers a loyalty program that rewards users with up to 0.5% cashback on all purchases.
The platform offers a range of services, including a debit card, wallet services, and an exchange. When it comes to top-ups, fiat currencies are free of charge, while crypto assets cost around 1%. When it comes to buying crypto, fees range from 1.5% to 2.5%. However, users can take advantage of Wirex’s native utility tokens, WXT, to reduce fees.
A Cryptocurrency Exchange / Wallet on the Go
Wirex is a mobile-oriented cryptocurrency platform that offers users the ability to purchase and sell select cryptocurrencies for fiat money. It also provides a web-based wallet to store coins. The platform is designed to be simple and easy to use, and is particularly well-suited for beginner crypto enthusiasts. User Wirex reviews point out that the dashboard is evidently designed for mobile users, and that the platform does not offer the same range of features and graphs as other high-end exchanges. However, it does provide the essential features that many users need.
Key Disadvantages of Wirex
To be honest, there aren’t many notable issues with Wirex! Let’s start with the most frequently discussed one: the platform’s lack of support for US-based customers.
Supports Only a Few Cryptocurrencies
Wirex is a crypto exchange platform that allows users to trade and store 9 different cryptocurrencies, including Bitcoin, Ethereum, Litecoin, Ripple (XRP), Stellar Lumens, Nano, Waves, Dai, and Wollo. While the selection of coins is relatively small compared to other exchanges, it does include the most popular coins, so a big number of crypto enthusiasts will likely be satisfied. Additionally, Wirex also supports its own native utility token, Wirex tokens.
Account (Card) Maintenance Fee
It offers users a range of features, including a crypto debit card and a BTC-based cashback through Cryptoback™ Rewards system. Previously, users were charged a monthly maintenance fee of $1.50, but this has now been removed with the launch of Mastercard support. This makes Wirex an even more attractive option for those looking for a reliable exchange with no strings attached. With competitive fees and a range of features, Wirex is a great choice for those looking to buy, sell, and store their crypto.
How to Register on Wirex?
Registering on Wirex is quick and easy, with users reporting that the process takes just a few minutes to complete.
- Step 1: Go to Wirex’s official website and click the big “Join Wirex” button in the top-right corner.
- Step 2: Select your country of residence, enter your email address, and create a password.
- Step 3: The email verification stage follows; check your inbox and confirm your email address.
- Step 4: After receiving your email confirmation, enter a 6-digit code to log into your account for the first time.
- Step 5: After logging in, you will be asked to complete some KYC verification checks. This is standard practice with exchange-wallet platforms. The worst part is that you can’t even choose to fill out these forms later – if you click the “Continue Later” button in the top-right corner of the screen, you’ll be logged out automatically.
- Step 6: Once you’ve completed all of the verifications and KYC requirements, as well as confirmed your email address and phone number, you’ll be redirected to your dashboard – that’s all there is to it! Wirex now allows you to trade cryptocurrencies.
How to Buy Cryptocurrencies with Wirex?
Buying crypto coins is easy and straightforward. All you need to do is fund your account via a wire transfer or select the fiat payment option when purchasing a specific coin. Once your account is funded, you can exchange fiat crypto without any further hindrance. Wirex provides all the necessary information on where to transfer your funds in the “Account Details” tab on the dashboard. With Wirex, you can buy crypto coins quickly and securely, without any hassle.
All you need to do is select the crypto you want to exchange, and then the one you want to exchange it to. User Wirex reviews note the convenience of the platform, as well as its quick transaction speeds, good security measures, and straightforward exchange processes. However, it is important to check the exchange rates to make sure they are beneficial to you.
Conclusion
Wirex is a popular cryptocurrency exchange and wallet platform that offers users a convenient way to buy, sell, and store digital assets. It also features a unique Wirex debit card, as well as Cryptoback™ Rewards, which gives users up to 1.5% cashback in BTC. Despite some minor drawbacks, such as the lengthy registration process, Wirex is generally well-received by users, who praise its convenience and features. If you’re interested in what the platform has to offer, make sure to check it out! You can also explore other crypto wallet alternatives, even if you purchase cryptos on Wirex.
Disclaimer: Cryptocurrency trading involves significant risks and may result in the loss of your capital. You should carefully consider whether trading cryptocurrencies is right for you in light of your financial condition and ability to bear financial risks. Cryptocurrency prices are highly volatile and can fluctuate widely in a short period of time. As such, trading cryptocurrencies may not be suitable for everyone. Additionally, storing cryptocurrencies on a centralized exchange carries inherent risks, including the potential for loss due to hacking, exchange collapse, or other security breaches. We strongly advise that you seek independent professional advice before engaging in any cryptocurrency trading activities and carefully consider the security measures in place when choosing or storing your cryptocurrencies on a cryptocurrency exchange.
