What is Wirex?
Wirex is a Bitcoin debit card company based in London and has been trading as a company since 2014. Their debit card makes it possible for users to go shopping both in physical and online stores.
Benefits of Wirex
Wirex covers 130 nations throughout the world, so there is a good chance that you can order it from where you live. Wirex features a mobile app so you can quickly and easily check your balance and make transfers. You can also utilize it to exchange cryptocurrency for fiat money or vice versa. Finally, the app allows you to send cash to other apps like PayPal. Wirex take your security seriously and provides users the alternative to enable 2-factor authentication. As a user, you will also be safe them from theft and scams. The Wirex card is advertised as a real Visa card that doesn’t have to be preloaded before you can use it. The company places your cash in a current bank account, and you’ll have both sort code and account number. Finally, you will make 0.5% cash-back (or token-back, as you get paid in crypto) when you use the Wirex card in-store.
Downsides of Wirex
The Wirex debit card can be sent out to 130 nations, but it can take as much as eight weeks to arrive in your mailbox. The confirmation process for security functions can be a little longer to complete, which is off-putting to some clients. The process requires several documents to show your identity and can use up to 10 days. Only UK users have access to the “genuine” Visa card. US providers and other European carriers will have to preload the card before using it.
Wirex charges
There is a $1 (or ₤ 1/EUR1) monthly service fee regardless of which card you select. The physical plastic card comes with an extra $17 cost for being provided. ATM withdrawals cost a flat rate of $2.50 when used in the house, and $3.50 when used abroad.
Wirex details
Card type: Visa/Mastercard
Virtual card: Yes
Physical card: Yes
Mobile app: Yes
Supported fiat currencies: GBP, EUR, and USD
Supported cryptocurrencies: Bitcoin (BTC), Ethereum (ETH), Ripple (XRP) and Litecoin (LTC).
Anonymous: No.
Summary
Wirex is definitely among the more appealing options when it pertains to Bitcoin cards — especially for UK customers. The costs are in line with the other card issuers, and there is excellent support for both crypto and fiat currencies. Users who want more privacy, nevertheless, will be disappointed as there is a lot of identity verification. Full disclosure: I just bought my Wirex card, as I like their confirmation procedure and customer support.
If you’ve got any experience with the Wirex card, then leave your thoughts in the comments section below!