Wirex offers a Crypto Virtual Card that you can use to hold, invest and spend in Bitcoin and other cryptocurrencies. It comes with a Mastercard debit card that you can use to make payments in stores as well as online. They payments are conducted in the local currencies. The Wirex card comes in a virtual fashion as well as in a plastic card that you can receive at your given address.
Wirex is a company based in the UK, but you can open your Wirex account from almost any country in the world. Wirex is a digital payment platform that allows you to have a multi-currency account supporting cryptocurrencies such as bitcoin and fiat currencies such as USD, GBP, and EUR. Wirex bitcoin wallet and card supports both fiat and digital assets.
Wirex gives you the power to use your money on a borderless payment platform. Buy, store, exchange and spend your traditional or cryptos, anytime, anywhere.
Wirex Card Benefits
The Wirex card is a digital wallet and a payment card. In addition to Bitcoin, you can keep a wide variety of Crypto’s on your account. Every Wirex user has their own 2-3 multi-sig bitcoin account with a unique set of private keys. You can transfer your crypto’s in and out of your personal wallet. You can do the same with currencies such as Pound Sterling, Euro and the US Dollar. Funding goes through topping up your account with other Mastercard/ Visa debitcards or creditcards.
Wirex also has a native cryptocurrency, Wirex token (WXT). Wirex coins is not a stablecoin but a utility token with benefits to Wirex customers such as discounts and enhanced rewards. WTX gives Wirex customers 100% discount on fees including exchange fees, bank transfer fees, withdrawal fees, credit/debit card top-up fees, monthly management fees, ATM fees and SWIFT charges and up to 1.5% cryptoback in WXT every time you use your Wirex Visa card in-store.
Benefits Wirex Card
- Wirex also has a Cryptoback rewards program, meaning the more you spend with your Wirex payment card, the more you receive back.
- You can send funds from your Wirex personal or business account to another Wirex user or Wirex transfer to bank account.
- Wirex supports cryptocurrency transactions such as BTC, LTC, XRP, ETH, WAVES, DAI, NANO, and XLM. So, you are able to receive and send cryptocurrencies to another crypto account.
- Crypto lending and renting. Crypto holders can earn up to 16% on their crypto savings. This is done through their new product called X-Accounts.
How to Open Wirex Account
To open Wirex account, you need to register online or download the Wirex app, for Android and iOS. You will be required to select your country, provide your phone number, password, your identity, and if necessary, your address. For proof of identity, you need a valid government-issued ID. After filling out all the details, you will receive an email with an activation link as well as a 7-digit code in a text message. It might take up to 10 minutes for the code to arrive. Your account will be active once you complete these steps.
Types of Accounts
Wirex has three different types of accounts, Wirex personal account, Wirex business account and X-Account. The accounts are multi-currency accounts holding up to 19 currencies including GBP, EUR, JPY, WTX, BTC, LTC, ETH, XRP. X-Accounts, which were launched in June 2021 allow account holders to earn up to 16% on their crypto and fiat funds. Check the info on X-accounts on their website.
Wirex accounts support SEPA and SWIFT international payments. Cryptocurrency trading on Wirex platform attracts Over-the-Counter (OTC) rates and fiat currencies use the interbank rate. The business account need to be set up in your registered business name and you get a free 30 day trial. Both accounts allow you to spend fiat money and cryptocurrencies at 54 million locations around the world.
How to Fund Wirex
Since Wirex is virtual, how then do you deposit money into your personal or business account? With Wirex you can fund your account only via a debit/credit card or via your PayPal account (here’s how). You can also top up your cryptocurrencies as well with fiat currency or cryptocurrencies. Once you account is funded, you can use Wirex card online or in-store.
To top up your Wirex account, you have to link your local bank card to Wirex. This local bank card must be a Visa or Mastercard issued by a financial institution other than Wirex.
Wirex Money Transfer
You can send funds from your Wirex personal or business account to another Wirex user or Wirex transfer to bank account. To send funds, you will need to confirm the transaction via the confirmation email you will receive. If you don’t confirm, the transaction will not go through.
Wirex supports cryptocurrency transactions such as BTC, LTC, XRP, ETH, WAVES, DAI, NANO, and XLM. So, you are able to receive and send cryptocurrencies to another crypto account. Note that Wirex uses smart contracts to send ETH not a regular wallet by using multi signature wallets to control the private keys.
When sending cryptos, the funds may take up to 30-60 minutes to arrive depending on the blockchain’s and Wirex’s current network load. If you used your local credit or debit card or Wirex card to purchase or exchange crypto, this can also take up to 15 minutes to appear in your balance if the system load is high. Using the newly launched X-Accounts, crypto holders can earn up to 16% on their crypto savings.
Some wallets and/or exchanges may not support ETH transfers from Wirex because some wallets and exchanges are not able to read out inputs/outputs and settle the incoming transfer because of their infrastructure settings. However, administrators of these wallets can manually identify such transactions and perform a force settlement which will reflect in the user’s balance. You should enable two-factor authentication (2FA) for any outgoing transaction.
Wirex imposes limits for cryptos, local cards transactions, limits for Wirex cards,etc. Below are limits for bitcoin. You can see the rest of Wirex limits here.
|Transaction||Minimum transaction amount||Maximum transaction amount||Maximum daily limit|
|2FA not required||0.01 BTC|
|Exchange: crypto → fiat,crypto → crypto*||unlimited||36000||unlimited|
|Exchange: fiat → crypto||unlimited||unlimited||unlimited|
* For crypto → crypto exchanges, the limit applies to the currency from which the conversion is performed.
Wirex has a Cryptoback rewards program, meaning the more you spend with your Wirex payment card, the more you receive back. With Wirex token, WTX, you can receive rewards worth 0.5% or more every time you make an in-store purchase, swipe your Wirex payment card or use Tap and Go. Your reward is instantly added to your reward balance located within your Wirex app, in the form of Bitcoin, which can be redeemed to your BTC wallet anytime.
Wirex referral: Wirex gives you and the person you refer $5 in Wirex token (WXT) once they buy $100 of crypto through Wirex and another $5 in Wirex coin when the person you refer uses their Wirex card for the first time.
You need a Wirex Mastercard before you can make purchases with Wirex. To order a card, you need to enter your personal information, currency, residence address and your order will be processed instantly. If you order a GBP/EUR card, it will be issued together with the associated currency account. If you don’t have enough funds in your account, you may be asked to top up before ordering your card.
The top up amount varies by region, but it will be displayed in when ordering. You can use you card anywhere in the world where Mastercard is accepted. However, the card can only be delivered to these countries.. Card delivery duration differs but in the EEA area, card delivery may take up to 4 business day. Unfortunately, Wirex virtual card (or Wirex virtual credit card) is not available at the moment.
Wirex card automatically converts to local currency at point-of-sale using the best possible interbank and Over-the-Counter (OTC) rates, with no exchange fees. This means you can spend any of 40 plus traditional currencies and crypto in real life.
Wirex Card supports 19 different fiat and cryptocurrencies. In European Economic Area, Wirex supports: AUD, CAD, EUR, CHF, CZK, GBP, HKD, JPY, MXN, SGD, USD, BTC, LTC, XRP, ETH, WAVES, WLO, DAI, NANO, XLM, and WXT. In Asia Pacific, it supports AUD, CAD, CHF, CZK, EUR, GBP, HKD, JPY, MXN, SGD, BTC, LTC, XRP, ETH, WXT, XLM, and DAI and all other regions supported currencies are AUD, CAD, CHF, CZK, EUR, GBP, HKD, JPY, MXN, SGD, BTC, LTC, XRP, ETH, WXT, and DAI,
Wirex has a native cryptocurrency, Wirex token (WXT). Wirex coins is not a stablecoin but a utility token with benefits to Wirex customers such as discounts and enhanced rewards. WTX gives Wirex customers 100% discount on fees including exchange fees, bank transfer fees, withdrawal fees, credit/debit card top-up fees, monthly management fees, ATM fees and SWIFT charges and up to 1.5% cryptoback in WXT every time you use your Wirex Visa card in-store.
Wirex Supported Countries
Wirex accounts can be opened in many countries around the world. Wirex cards can be used in any country where Mastercard is acceptable. Requirements for opening a Wirex account differ from country to country. For example, in some countries mobile phone bills and payslips can be used for proof-of-address. In some countries all Wirex services are supported (Wirex account, Wirex crypto account, Wirex card, top up with local card) while others aren’t. See the full list of supported countries and requirements here..
Wirex USA: At the moment, Wirex is not available in the US. However, it will soon launch in the US with the support of Zero Hash, a crypto trading infrastructure. Wirex will launch their services in 51 states.
Is Wirex Safe?
Is Wirex legit? Yes, the company that has been around since 2014 serving over 3 million customers in 130 countries. Wirex is a licensed e-money issuer the U.K. Financial Conduct Authority (FCA) and authorised by the Bank of Lithuania as an e-money institution. It is PCI DSS Level 1-certified and uses multi-signature, cold-storage to secure customers’ accounts. Wirex allows you to freeze or unfreeze your card in-app if you notice suspicious activities.
Please note that the UK Financial Ombudsman Service or the UK Financial Services Compensation Scheme do not apply to the cryptoasset activities carried on by Wirex Limited. Also Wirex Mastercard is not covered by the Financial Services Compensation Scheme. However, your funds are held in a segregated account so that in the unlikely event that Contis Financial Services Ltd becomes insolvent your funds will be protected against claims made by creditors.
Wirex Visa card: Wirex used to have Visa Cards but discontinued all Visa card accounts on 16 June, 2021. The new multi-currency Wirex Mastercard is now available in the Wirex app. If you have any questions regarding the new Wirex Mastercard card accounts, you can find answers here. For remaining Visa balance queries, contact [email protected] using this email template.
Wirex Card Fees
|UK / EU / EEA||Other Regions|
|Multi-Sig Crypto Accounts||Free||Free|
|Multi-Sig Fiat Accounts||Free||Free|
|Card Account Maintenance Fee||£1.00 / €1.20 / $1.50 Per Month||–|
|UK / EU / EEA||Other Regions|
|Crypto Top-Up By External Card||1%||1%|
|Bank Transfer In/out: Sepa||Free||Free|
|Bank Transfer In/out: Faster Payments||Free||–|
|Bank Transfer In Swift||Free||Free|
|Bank Transfer Out Swift||£12 /€13 / $15||$15|
|UK / EU / EEA||Other Regions|
|Crypto Exchange Services||Otc Rates + Commission||Otc Rates + Commission|
|Fiat Exchange Services||Interbank Rates + Commission||Interbank Rates + Commission|
|Internal Transfer (between Wirex Users)||Free||Free|
|External Transfer (crypto)||Blockchain Fees Apply**||Blockchain Fees Apply**|
|Atm Charges (fx Fee Applies For Withdrawals Abroad)||Eea (including Uk): £1.75 / €2.25 / $2.50 International: £2.25 / €2.75 / $3.50||–|
|UK / EU / EEA||Other Regions|
|If You Hold 500||000 Wxt||1.50%|
Wirex card Limits
|UK / EU / EEA||Other Regions|
|Crypto Exchange||limit Varies Depending On The Currency From Which The Conversion Is Performed.|
|Crypto Transfer Out||Per Transaction: $10k Per Day: $50k||Per Transaction: $10k Per Day: $50k|
|Credit / Debit Card Top-Up (confirmed)||$5k Per Day||–|
|Credit / Debit Card Top-Up (unconfirmed)||$50 Per Day||–|
|Card Spend Limit Per Transaction||£7.5k/€8k/$10 Per Transaction||–|
|Transferring Funds Between Current Account And Wirex Card||Unlimited||–|
|Maximum Account Balance||Unlimited||Unlimited|
|Maximum Card Balance||£15k / €16k / $20k||–|
|Spend From Card||£7.5k / €8k / $10k Per Day||–|
|Atm Withdrawals||£/€/$250 Per Day||–|
*SEPA and SWIFT limits are set up in USD equivalent.
Wirex is not the only fintech offering cryptocurrency and fiat debit card. Wirex alternatives that you can look into are the following:
- The BlockFi Bitcoin Credit Card offers a similar product as Wirex.
- Revolut is more advanced and also comes with a multi-currency account including your own bank account numbers. The Crypto feature is mostly for investing though and is less advanced.
- Nuri, formerly Bitwala has even more capabilities and offers a European Bank Account, a Bitcoin interest and savings account, and your own private wallet.
- Paycent (we don’t recommend this service).
For more information and to check out all offers be sure to check out our Crypto Banking page.