Review: Wirex cryptocurrency card and app

Spend 10 different cryptocurrencies anywhere Visa is accepted with the Wirex Crypto Card and earn rewards.

  • Good for zero-fee payments in multiple currencies and 1.5% cashback in Bitcoin
  • Not so good for ongoing monthly fee and 1% premium on cryptocurrency purchases

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9

Fiat currencies

29

Cryptocurrencies

Details

Product Name Wirex Cryptocurrency Exchange
Fiat Currencies EUR, GBP, CAD, CZK, HUF, PLN, RON, HRK, USD
Cryptocurrencies BTC, ETH, LTC, XRP, XLM, DAI, MKR, YFI, UNI, CRV & 10+ more
Deposit Methods Credit card
Cryptocurrency
Debit card
Bank transfer (SEPA)
SWIFT
Trading Fee 1%
Deposit Fees
Withdrawal Fees 2%
Disclaimer: This information should not be interpreted as an endorsement of cryptocurrency or any specific provider, service or offering. It is not a recommendation to trade.

Learn more about Wirex Crypto Card

What fiat and cryptocurrencies are supported?

  • Supported fiat currencies: EUR, GBP, CAD, CZK, HUF, PLN, RON, HRK, USD
  • Supported cryptocurrencies: Approximately 29 cryptocurrencies

Which payments methods are accepted?

  • Credit card
  • Cryptocurrency
  • Debit card
  • Bank transfer (SEPA)
  • SWIFT
Go to Wirex's website

What’s it like to use a Wirex Crypto Card?

Fees and limits

The fees below are accurate as of 21 September 2021.

  • Account maintenance fees (monthly). The Standard account is free, Premium is €9.99 and Elite is 29.99 each month. Or choose to pay for 12 months upfront and receive a 15% discount on fees.
  • Foreign exchange fees. There are €0 foreign exchange fees for card transactions made within the European Economic Area (EEA).
  • Card spending. There’s a US$50 limit for unconfirmed top-ups or a US$5,000 limit for confirmed top-ups.
  • Cryptocurrency purchases. For any crypto purchases you make, you’ll pay a fee of around 1% above the real exchange rate.
  • ATM withdrawal. Withdraw up to €400 fee-free per month (or pay a 2% fee on the withdrawal amount when you exceed your fee-free limit of €400)

How fast will my funds be available?

Card payments are typically the same day, while SEPA may take several days. Cryptocurrency transactions depend on the specific blockchain and network congestion at the time.

Is Wirex Card safe to use?

  • Regulation: At the time of writing (September 2021) Wirex is registered with several regulatory bodies around the world, with licences (or pending applications) with the UK Financial Conduct Authority, Monetary Authority of Singapore (pending) and Central Bank of Ireland (pending).
  • Mastercard: Although Wirex still uses Visa for card payments, it partnered with Mastercard in 2020 as the first “crypto-friendly principal member” and is working with the payments company to expand Wirex’s network in 2021.
  • Verification process. Photo ID verification is required to use Wirex.
  • Security features. Wirex offers options two-factor authentication, PIN code and a recovery phrase to help secure accounts.

How do I create an account at Wirex?

  1. Download the Wirex app to your smartphone and register.
  2. Create an account and confirm your email address
  3. Verify your identity using your smartphone camera and passport.
Go to Wirex's website
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Wirex interest-earning X-Accounts

WireX allows users to earn interest on their digital assets and fiat deposits with X-accounts.

X-accounts offer interest on up to 10 different currencies, which is compounded daily and paid out weekly. The supported fiat currencies include EUR and GBP and the following cryptocurrencies:

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Litecoin (LTC)
  • Aave (AAVE)
  • Chainlink (LINK)
  • Maker (MKR)
  • Stellar (XLM)
  • Dai (DAI)
Interest rates on the X-Accounts you open in cryptocurrencies start at 6%. If you choose to receive your interest in the native WXT token, your interest you earn will increase to 10%.

For your X-Accounts opened in either EUR or GBP, expect to receive interest rates of 12%, rising to 16% if you’re happy to receive your interest in WXT.

WireX says it is able to offer these rates by lending customer funds to both institutional lenders as well as various DeFi platforms, such as Uniswap and 1inch. Keep in mind that DeFi protocols are subject to unique risks such as smart contract vulnerabilities and impermanent loss. It’s not clear if customer funds are insured, although WireX has enlisted Fireblocks to help manage the security of crypto assets.

To create an account, select the ‘X-Account’ tab on your app dashboard and follow the instructions. You can customise the name of individual X-Accounts, making it even easier to keep track of your earnings.

What else do I need to know about Wirex?

Wirex began as a digital bank and payments service that has expanded to offer cryptocurrencies in recent years. It aims to make owning and spending multiple currencies – both traditional and digital – a simple process, all handled through a single card and account.

You can trade between various fiat currencies (in addition to crypto) through the app, which makes it a useful companion if you find yourself travelling across borders often.

WXT is Wirex’s own cryptocurrency, which was launched in 2019 and enables discounts and enhanced rewards.

CryptoBack is one of Wirex’s signature products and lets customers earn up to 2% back in WTX on in-store purchases.

In a nutshell

Pros

  • Good for spending in multiple fiat and cryptocurrencies
  • Purchase and trade currencies in the app
  • Earn interest with X-Accounts

Cons

  • 1% premium on cryptocurrency purchases
  • 2% withdrawal fee after exceeding €400 fee-free limit per month
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Compare Wirex Card against other crypto debit cards

Name Product Deposit methods Fiat Currencies Cryptocurrencies
Wirex Cryptocurrency Exchange
Wirex Cryptocurrency Exchange
Credit card, Cryptocurrency, Debit card, Bank transfer (SEPA), SWIFT
EUR, GBP, CAD, CZK, HUF, PLN, RON, HRK, USD

29
cryptocurrencies

Get a Welcome Bonus of USD 15 in WXT when you sign up with Wirex through Finder. T&Cs apply.
Spend a range of cryptocurrencies anywhere Visa is accepted with the Wirex Crypto Card and earn rewards.
eToro Cryptocurrency Trading
Bank transfer, Credit card, Debit card, Neteller, PayPal, Online banking, Skrill
EUR, GBP, NZD, USD, AUD, CAD, HKD, SGD, CHF, NOK & 5+ more

27
cryptocurrencies

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Copy the trades of leading cryptocurrency investors on this unique social investment platform. $50 minimum deposit.
CoinSmart Cryptocurrency Exchange
CoinSmart Cryptocurrency Exchange
Interac e-Transfer, Bank transfer (SEPA), Wire transfer, Credit or Debit Card
CAD, EUR

9
cryptocurrencies

Purchase a handful of leading cryptocurrencies with EUR and enjoy 24/7 customer support.
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Frequently asked questions

Go to Wirex's website
Disclaimer: Cryptocurrencies are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance is no guarantee of future performance. Consider your own circumstances, and obtain your own advice, before relying on this information. You should also verify the nature of any product or service (including its legal status and relevant regulatory requirements) and consult the relevant Regulators' websites before making any decision. Finder, or the author, may have holdings in the cryptocurrencies discussed.

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