Wirex Review: Is It The Best Crypto Card?

Wirex is part of many Defi companies introducing traditional banking to the world of Crypto. Offering its users personal accounts, payment cards, and a place to exchange cryptocurrency. Wirex’s goal is to make the process of buying, holding, saving, and spending digital currency easy.

Created in 2014 by CEOs and co-founders Pavel Matveev and Dmitry Lazarichev. Wirex claims that they are the first to develop a contactless payment card for spending digital currency in the real world.

Wirex provides users with loads of different ways to manage their cryptocurrency. This post will review some of the services Wirex provides.

Who is Wirex

Over three million customers across 130 countries. Wirex’s goal is to bridge the gap between conventional and cryptocurrencies. It’s been expanding beyond the Headquarters in London into Kiev, Ukraine, Tokyo, Toronto, Dallas and Atlanta.

It’s hard to find a trustworthy service where users can truly manage their cryptocurrency. With a transaction volume of $2.0 billion, Wirex is attempting to address these issues. In a simple, trusted, and cost-effective manner.

The hope is to empower its customers through one borderless payment platform. The digital currency will continue to grow so a platform where users can buy, store, exchange, & spend crypto.

Wirex Main Features

Personal Account

Manage fiat and cryptocurrency on one platform. Users can have up to 20 traditional and cryptocurrencies in one account.

  • Easy Account Top-Up – Fund existing accounts with debit or credit card, bank transfer or crypto.
  • Quick and Simple Money Transfer – Easily transfer cryptocurrencies. Send funds in and out of their Wirex accounts. Users can also transfer crypto and traditional currency to other Wirex users.
  • Instant exchange – Convert money instantly between other supported traditional or crypto currencies.

Wirex Virtual Card  Overview

A multi-currency Visa card. The Travelcard is Wirex’s flagship product. Wirex’s Travelcard allows cardholders to spend their cryptocurrency on everyday purchases internationally.  Available in over 30 countries.

  • Cryptoback Rewards – Wirex Travelcard Cryptoback rewards program gives ample opportunities to flex their spending power. Customers can earn up to 1.5% back in bitcoin on every purchase made in-store with their Wirex card.
  • Wirex Token (WXT) – Wirex has its own token. The token helps holders earn rewards and incentives through heavily discounted fees or higher Cryptoback rewards.

Wirex Card Review

There are a lot of crypto cards to choose from, all of them have their own strengths and weaknesses. The Wirex card is no exception to the rule.  

First off, ordering a Wirex card is free, there is no cost to own one. Cardholders can deposit crypto or fiat currency to use the card. You can spend up to 150+ traditional and cryptocurrencies, anywhere a visa is accepted.

Card holders can also enjoy free international ATM withdrawals and free fiat-to-fiat exchange.

Pros

  • Users Get Both Physical & Virtual Wallets
  • Quick & Easy Sign Up Process
  • Cryptoback reward program, 1.5% cashback on in-store purchases.
  • Zero Account Maintenance Fees

Cons

  • Monthly Card Maintenance Fee
  • Fee’s on ATM Withdrawals Foreign Exchange
  • ATM withdrawal limit

Wirex App?

The Wirex app is available on both android and apple stores. Users can go to their respective stores, search up Wirex, and the app should populate for a quick install. The app seems to be well thought out and just like the desktop actions can be initiated via the side panel.

Interface

Wirex website is easy to use if you have basic knowledge of the cryptocurrency. Most actions can be started via the Wirex home dashboard side panel. Here users can spot icons like send or Exchange. The desktop interface is not bad, it’s functional. You can tell the desktop version was built around the interface of the mobile app.

Where is Wirex available?

Over the past few years, Wirex has been growing and improving its reach worldwide. They serve 3 million customers across 130 countries. Users from all over the world can enjoy Wirex services but some countries are limited to just opening an account. Countries like Guyana or Nicaragua all have limits to just features on an account and are not permitted access to getting the Wirex Card. It is a long list of countries supported for both an account and card. Here is the full list from Wirex.

Wirex Fees & Limits

Fees are applied in parts of Europe and American regions. Wirex card fees are not high when compared to other alternative cards in the market. There is a monthly fee of 1 USD and card issuance is free. 

Wirex cards can be used at ATM’s to take out money from their accounts. Cardholders can expect a fee of 2.50 USD for doing so.

Also, card spending limits per transaction come out to $10k per transaction. The maximum card balance is $20k but the maximum account balance is unlimited. Overall relative to the competition the Wirex card fees are competitive.  

Wirex ATM Fee

ATM FeesEuropean Economic Area FeesInternational Fees
USD $2.50$3.50
EUR€2.25€2.75
GBP£1.75£2.25

Wirex Visa card charges

Account FeeFREEFREE
Card DeliveryFREE
Card Account Maintenance Fee£1.00 Per Month€1.20 Per Month$1.50 Per Month

Wirex Limits

Fiat exchangeUNLIMITEDUNLIMITED
Crypto exchangeLimit Varies
ATM withdrawals$250 Per Day
Card spend limit per transaction£7.5k Per Transaction€8k Per Transaction$10k Per Transaction
Maximum card balance£15k€16k$20k
Spend from card£7.5k Per Day€8k Per Day$10k Per Day

Wirex Card Rewards & other programs

Where Wirex card shines is with the Cryptoback reward program. Cardholders can earn up to 1.5% back in Bitcoin on in-store payments. Most Crypto cards are not offering rewards programs which is a huge plus for Wirex.  

Another program to look into is the Wirex Refer-a-Friend program. Invite family and friends to join Wirex and earn $10 in Bitcoin. The program is self-explanatory, find the desktop or app rewards section, and share the referral link.  Your family or friends sign up and you get paid.

As a referrer, you and your friend can receive another $5 in BTC once your friend buys a $100 worth of crypto. If your friend orders and uses the Wirex card for the first time another $5 in BTC can be rewarded.  

For both Cryptoback and Refer-a-Friend program rewards are redeemed only in multiples of 100 Satoshi.

Tip: WXT holders (Wirex native token) can expect a discount on fees and higher Cryptoback rates.

Wirex Token (WXT) CRYPTOBACK IN Bitcoin

  • 500,000 WXT – 1.50% CRYPTOBACK IN Bitcoin
  • 100,000 WXT – 1.00% CRYPTOBACK IN Bitcoin
  • 50,000 WXT –   0.5%   CRYPTOBACK IN Bitcoin

Exchanging Currencies on Wirex

Wirex allows users to instantly convert their currencies between Cryptocurrency and fiat-currency. As well as exchange between other fiat currencies. Exchange fees are fairly competitive and in APAC regions users can expect zero fees domestically.

To begin an exchange, remember to load some funds into your Wirex card. A bank transfer, debit card, or credit card is the best way to add funds.

The step to exchanging currencies is a two-step process.  On the main dashboard, users tap an exchange icon, then enter the amount you want to exchange and follow the onscreen prompts. Your cryptocurrency can be exchanged into USD, EUR, or GBP and back to crypto.

Wirex Transfers

Wirex does not just stop currency exchanges, users can also transfer crypto or fiat. Cryptocurrencies can easily be transferred anywhere across the world for free.

The fact that transfer fees are free is great to hear, often the action of transferring currencies can be quite high. It is yet another way Wirex stands out amongst other crypto card carriers.

Crypto transfers are very simple to carry out, users can choose between a plethora of different coins often with no commission.

Users tap the send Icon on Wirex main dashboard, enter the address, label, and confirm. You’ll be asked how much of the selected crypto should be sent. Once entered, follow on screen prompt.

One thing we did want to mention is Wirex storage fees. Storage fees only apply if users do not transact for more than nine months. This something to keep in mind if you plan on buying and holding cryptocurrency.  

Top Cryptocurrencies Supported

  • Bitcoin (BTC)
  • Litecoin
  • Ethereum (ETH)
  • NANO
  • DAI
  • WIREX (WXT)
  • Ripple (XRP)
  • Waves
  • Wollo (WLO)
  • Stellar (XLS)

Supported Traditional (Fiat) Currencies

Every region won’t have access to certain currencies. We listed the specified currency for said regions.

European Regions

Fiat currencies: EUR, GBP, CAD, CZK, HUF, PLN, RON, HRK, USD

Asia Regions

Fiat currencies: AUD, CAD, CHF, CZK, USD, EUR, GBP, HKD, JPY, MXN, SGD, NZD

Other Regions:

AUD, CAD, CHF, CZK, EUR, GBP, HKD, JPY, MXN, SGD

Is Wirex Secure?

Wirex has done a lot of work to maintain a secure access platform. Wirex acts as a liaison for user funds. So, it would make sense to watch your account like hawk. Wirex holds an e-money license with the UK. Which means they follow strict rules when comes to fiat currency.

If they were to spiral into bankruptcy your funds would be protected. Not to mention they recently secured a Mastercard principal membership. This is great because it allows Wirex to issue payment cards directly.

It also signifies the added level of security that needs to be had just to obtain such memberships. It is a very hard to license to obtain.

Their platform is independently audited and tested on a regular basis. Wirex is PCI DSS Level-1 certified, the highest level. Users can enjoy safe transactions, exchanges, fraud prevention, and Wallets.

Wirex stores customer funds in cold storage wallets. Which utilizes the Multisig security model, using access keys stored in multiple locations. Multisig security is another layer of protection to keep your funds safe, and only accessible by you.

We listed few of the other security features Wirex implements:

Wirex uses a risk-engine tool – track fraudulent card transactions and unauthorized access. Also, there is a KYC security process which is common for similar companies in this industry.

Two factor authenticator – Which we recommend most users take part in.

Users can disable and re-enable your Wirex card from the mobile application. Encase cardholders lose there Wirex card or it gets stolen this is a perfect solution. Combine this feature with security push text notification and users can feel safe using the platform. 

Sensitive documents and data are customers’ eyes only. Encryption technology TLS and 256-bit AES to keep this information in good hands.

Wirex Customer Support

For any company that does business in the world, it is hard to maintain consistent customer service. Wirex has some good and bad. First off, we looked high and low, Wirex does not seem to have a dedicated customer service line or chat.

The best way to reach out to them is via email or within the help center. Users get most of their common questions answered in the help center. That isn’t ideal, especially if you want to quickly get in touch with a human for major disputes.  Users must fill out a request form for major disputes, request forms can be found in the help center.

We found the “Submit Request” on the home screen under personalized questions. Typically, users will receive a ticket or case number once their request has been submitted.

Wirex also has a strong community forum where you can share feedback, suggest new features, or connect with other users. The forms are very active, and people are always engaging with one another.

Overall, customer service wasn’t too bad on our end. We combed through websites like Trustpilot to get an idea of what other customers were complaining about. For the most part, a few customers had problems with how long issues took to get disputed.

Pros and Cons of Wirex

Pros

  • Users Get Both Physical & Virtual Wallets
  • Quick & Easy Sign Up Process
  • Cryptoback reward program, 1.5% cashback on in-store purchases.  
  • Convenient Beginner-Friendly Mobile Interface
  • Multiple Levels of Security  
  • Zero Account Maintenance Fees

Cons

  • Monthly Card Maintenance Fee
  • Fee’s on ATM Withdrawals Foreign Exchange
  • The Desktop User interface follows behind
  • ATM withdrawal limit

Frequently Asked Questions

Is The Wirex Card Available To American Users

No, the Wirex card is not available to US residents. Over the past few years, Wirex has been gearing up for American users to have access to their flagship card. Recently Wirex received a U.S. money transmission license. Which means Wirex can expand its services throughout the U.S.

Where can I buy WXT?

WXT can be bought in the Wirex APP or Desktop.

Is Wirex card free?

Yes, both virtual and physical Wirex is free. Users can expect to pay a monthly maintenance fee.

Can I link my Wirex card to Paypal

Yes, users can link there Wirex card to Paypal. Linking your card is not only limited to Paypal other third-party services such as Curve and Revolut can be linked as well.

Alternatives

Coinbase Card

The Coinbase card is great for spending your cryptocurrency on everyday items. Coinbase is widely known and the card is accepted everywhere Visa is accepted. The fees are high when compared to other cards in this space. 

Coinbase can provide customers with an Independent wallet. The Wallet is great for beginner users looking to hold multiple types of cryptocurrencies and digital tokens.

Wirex Review Conclusion – Should this be your next Crypto card?

Making everyday purchases is much simpler with Wirex. Users can buy, sell, exchange, and manage their Cryptocurrency all on one platform.  Wirex offers its cardholders the normalcy of shopping with Crypto while earning BTC.

Which is a value proposition that isn’t seen by many in this space. Competitive fees, high account limits, strong security, and has a great mobile user interface. really give customers the confidence to further engage with Wirex.

Not all aspects of Wirex is great. What couldn’t be ignored is some customer complaints. Slow customer response times, abnormal account lockouts, the application process isn’t always smooth, and adding funds from your bank to Wirex wallet presents some hassles.

Although this was a small number of complaints it gives us an idea of some of the shortcomings other Wirex customers have.

Wirex card isn’t fully available to U.S. residence yet. This is a kind of a bummer but based on some of the new developments from Wirex this might be changing soon. Overall Wirex is a solid Crypto service. Not to mention Cryptoback rewards program really supercharges the crypto debit card.