Wirex Review & Rating 2023

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Looking a reliable  crypto app that makes crypto and traditional currencies equal? Then join Wirex and start it today! In this Wirex review article on AtoZ Markets, we will review in depth Wirex's services and discuss the benefits of using this payment card. So, whether you have a Wirex card or not, read on to find out why Wirex could be the best decision you make this year.

Wirex is a crypto wallet that allows you to buy, store, and exchange digital currencies. It also allows you to link your bank account and use your Wirex card to spend your digital currencies anywhere that accepts Visa or Mastercard. In this review, we'll take a look at everything Wirex has to offer and help you decide if it's the right crypto wallet for you.

Wirex Products and Features 

One of the best features of Wirex is its ease of use. The interface is clean and simple, making it easy to navigate. Another great feature of Wirex is its security. Your account is protected with two-factor authentication and all data is encrypted. Wirex also offers a mobile app, making it easy to access your account on the go.

Wirex offers a variety of products and services, making it a one-stop shop for all your crypto needs. In addition to its crypto wallet, Wirex also offers a debit card, allowing you to spend your digital currencies anywhere that accepts Visa or Mastercard. Wirex also offers a mobile app, making it easy to access your account on the go. Wirex offers the following products/features:

• X-Accounts  

• Wirex Exchange

• Card

• Crypto Transfers

• Payments

• Wirex Token

• Wirex Credit

• Wirex Wallet

X-Accounts

X-Accounts are the way of providing you with simple, straightforward access to DeFi-powered savings; they offer a high interest rate with no fees or minimum terms. In the Wirex app, you can open up to 10 X-Accounts on selected fiat and cryptocurrencies, earning 16% AER interest compounded daily depending on which currency you choose. You can also cash out your funds for free at any time, so you have complete control over how you earn and what you save.

How to Open X-Account?

To open an X-Account, you must have a current Wirex app account with funds in GBP, EUR, LTC, AAVE, LINK, MKR, XLM, ETH, DAI, or BTC. 

To open an X-Account, follow the steps below:

• Go to the ‘X-Accounts’ tab and select ‘Create New X-Account.' 

• Enter the currency you want to open an X-Account on, and then click OK. 

• Accept the X-Account Terms

• Enter the interest repayment method (in kind or WXT) and name your X-Account. 

• Finally, add funds from the applicable crypto or fiat currency account. Your X-Account is now ready to begin earning.

How to delete an X-Account 

On the dashboard, tap X-Account. Click on Edit to change the name of your X-Account; you can also click Delete to delete the account.

Wirex Exchange

You can convert 65+ currencies and traditional ones through the Wirex application at special OTC rate and exchange interbank. Additionally, they offer customized Over-the-Counter (OTC) rate for cryptocurrency transactions of all kinds and you pay no charges for exchange.

Switching between traditional and crypto currencies with Wirex can reduce your costs by up to 4% in comparison to other exchanges.

The process of investing in cryptocurrency is quick and simple. Your Wirex account provides you with instant access to an array of the most popular. Buy, store, exchange, and spend more than 55 Cryptocurrencies as well as nine other fiat currencies effortlessly through your bank.

Wirex Card

With real-time conversion at point of sale and zero exchange fees on FX, the Multicurrency Wirex card allows you to use multiple crypto and fiat currencies, plus you can earn up to 2% Cryptoback (WTX) on all of your spending.

At the point of sale, the transaction is automatically converted to local currency using the best live and Over-the-Counter (OTC) rates available, so you can transact in real time in any of 65 crypto and traditional currencies, whether you’re writing the cheque or taking public transport. Wirex card allows a daily ATM withdrawal limit of $500/€400. 

How to Order Wirex Card?

After your Wirex account has been successfully verified, you can only order a card, and if you don't have enough cash in your account, you may have to top up before placing your order. The exact amount you need to have in your account to order a card differs by region, but it is shown in the app. Follow the instructions below to order a Wirex Card:

• Scroll down on the dashboard to "Order cards," and then click "Get the card" in the window "Order a new card." 

• Review your contact information and billing address, and if you want to make any changes, click "Contact Support." 

• Select delivery options, then click on Place order. 

• The success message will appear; click Back to Dashboard to return to the application.

Crypto Transfer

Wirex allows you to make cryptocurrency transfers to and from your account for free, and you can make as many as $1 to up to $2000 in a day.

How to Transfer Crypto on Wirex?

1. Go to the cryptocurrency account you want to transfer tokens to, and then click 'Add Funds' in the Wirex app. You’ll see your account address, QR code, and other information such as limits and rates displayed in the message. Select the token you wish to add to your account and it will appear in the message.
2. Choose the token and enter the amount you wish to send in the external wallet or crypto exchange. Copy and paste your Wirex account address or scan the QR code for the destination address when asked. All done? Click "send" to send your message. 
3. In 15 minutes, the tokens should be deposited into your Wirex account.

Payments

Wirex combines blockchain-based payments with innovative features to make sending and receiving money from your account fast, convenient, and secure -- without causing you to be in the dark. With Wirex, you 

• Pay money to contacts in just only a few clicks
• Create an Wirex Address Book for super-swift sharing
• Blockchain-powered cryptocurrency transactions that are instant and instantaneous.
• All live notifications will be sent out for inbounds and outgoings

Wirex Token (WXT)

Wirex Token Wirex Token (WXT) can be described as the heartbeat of Wirex. Wirex platform. It is a unique multi-blockchain cryptocurrency Wirex offers our customers the opportunity to earn special crypto rewards and also gain access to the next generation of Decentralized Finance (DeFi) platforms. Wirex users can purchase WXT, sell it and trade it via the Wirex application.

WXT powers X-tras. It is Wirex's most creative rewards program, that incorporates everything from Cryptoback reward points to their groundbreaking Savings Bonus. You can select from three pricing plans that allow you to access a treasure trove of X-tras.

Wirex Credit

Wirex Credit is a way to open a credit line in stablecoins based on the cryptocurrency you own, allowing you to unlock the value of your crypto holdings without having to use them. For an instant and low-interest loan, you have the option of choosing the amount and currency. 

Wirex Credit is very easy to establish and use. A credit line can be opened with Wirex based on the cryptocurrency you hold as collateral. You will get cash deposited into your stablecoin account based on your loan-to-value ( LTV), and you can then use your stablecoins with your Wirex Card or stake them in dApps such as Nereus. You can also close the credit at any time before the maturity date, and only pay interest for the days the credit line was active.

Wirex Wallet

The Wirex Wallet is a secure, keyless, non-custodial crypto wallet that allows you to store and earn rewards on your crypto assets and NFTs.

With Wirex Wallet, you can access 25%+ APY interest with a direct connection to AAVE and Compound to unlock high-yield DeFi earning power.

Your Wirex Wallet allows you to instantly switch DeFi tokens between different blockchains. Numerous blockchains, including Bitcoin, Ethereum, and Solana, are currently supported, with more to come. Swap to a different blockchain to increase your earning potential without fuss If you’re frustrated by high gas prices, shift to a different blockchain!

Manage over 100 coins, including BTC, ETH, WXT, and a huge selection of ERC20 tokens, and take complete control of your cryptocurrencies. You can easily transfer your crypto to external wallets and Dapps, or keep it in your Wirex Wallet for added security.

Through Wallet Connect, you can quickly and easily connect to DeFi web applications. With sophisticated security and anti-fraud protections, NFTs are held and stored safely.

Wirex Licences and Regulations

Wirex is available in the USA, European, Australia and in some Asian countries. Wirex is registered and licensed in different countries. 

Wirex USA Inc. provides services in the USA which is registered in Delaware. Wirex USA Inc is regulated by FINCEN (Financial Crimes Enforcement Network) which is authorized by the Money Service Business License.

Wirex Limited is registered in London, UK and is regulated by the Financial Conduct Authority (FCA).

UAB Wirex is an authorised distributor of UAB Payrnet, which is authorised as an e-money institution by the Bank of Lithuania. The Deposit Insurance System of the Bank of Lithuania does not apply to cryptoasset transactions carried out by UAB Wirex.

Wirex Ireland is registered in Dublin, Ireland and Wirex Digital D.o.o is registered in Croatia.

Wirex Security

Wirex puts the power in your hands by combining powerful anti-fraud technology with practical measures such as SCA (Strong Customer Authentication) and sophisticated device authorisation.

Wirex have partnered with the world's leading asset custody firm Fireblocks to ensure your funds' safety and security. Fireblocks is the only security platform to protect assets in storage, transfer, and E&O. Fireblocks is SOC 2 Type II certified, and it undergoes regular pen tests by ComSec and NCC Group.

State-of-the-art fraud detection tools monitor every step of your Wirex transaction, so that you can make sure that you are paying with confidence. 

Cold-storage multi-signature (multi-sig) vaults serve as a virtual Fort Knox for your crypto and traditional currency, where you are the only one allowed in. 

Using TLS and 256-bit AES encryption, we only display your documents and sensitive data to your eyes.

Digital Assets that are deposited with Wirex is insured up to $30 millions.

Wirex Fees

Wirex has very competitive fees. There is no fee to create an account and there are no monthly maintenance fees. When you link your bank account, there is a small fee for currency conversion. When you use your Wirex card to make purchases, there is a small fee for each transaction. Overall, the fees are very reasonable and are in line with other crypto wallets.

One thing to keep in mind when using Wirex is that there are fees associated with certain activities. For example, there is a 2% fee for buying or selling bitcoin. There is also a 1% fee for exchanging between digital currencies. These fees are relatively low compared to other crypto wallets.

Wirex offers three plans and prices of the plans vary according to the plans.

The Standard plan

With standard plan, you can earn 5% interest in your X-Accounts and you can also get 0.5% Cryptoback rewards. This plan comes with zero monthly fees.

If you avail 180 days lockup period in your X-Accounts, you can get up to 7% and 1% crypto back.

The Premium Plan 

With Premium Plan, if you lock your WXT for 180 days, you will get 14% interest in your X-Accounts and 3% crypto back along with 6% annual savings bonus.

Elite Plan

With Elite Plan, by locking WXT for 180 days will double your rewards, giving you up to 8% Cryptoback, a 16% annual savings bonus, and 20% interest on X-Accounts. 

In the X-tras section of the Wirex app, you can choose to change your price plan at any time, and depending on your price plan and tier, you can earn up to 16% interest on your X-Account funds.

Wirex Pros and Cons

Wirex Pros

√ Easy to use interface

√ Good security features

√ Mobile app is user friendly 

√ Low fees

Wirex Cons

- Not available in all countries

- Limited customer support

Wirex Review: Mobile App 

Wirex offers a mobile app for both Android and iOS devices. The app is well designed and easy to use. It has all the same features as the desktop version, making it easy to access your account on the go. One thing to keep in mind is that Wirex is not available in all countries. So, if you're looking to use Wirex in a country where it's not available, you'll need to find another crypto wallet.

Wirex Review: Customer Support

One area where Wirex could improve is customer support. While they do have a FAQ section on their website, it's not very comprehensive. And, if you need help with anything else, you'll need to submit a support ticket. This can take some time to get a response. So, if you're looking for a wallet with great customer support, Wirex may not be the right choice for you.

Wirex Review: Final Thoughts

Overall, Wirex is a great crypto wallet with a lot to offer. It's easy to use, has good security features, and low fees. The only downside is that it's not available in all countries and customer support could be better. Also on TrustPilot, customers have so many compliments. They should resolve those issues. But, if you're looking for a good all-around crypto wallet, Wirex is definitely worth considering.