Like any review, this card review starts with an answer to one simple question. Wirex is a hybrid app that seamlessly supports both traditional fiat currencies and new-age digital cryptocurrencies. You get two wallets, one for fiat and one for cryptocurrencies, which you can use as you please without noticing any difference when you use either of them.
To be exact, Wirex offers 12 different fiat and cryptocurrencies that can be used with the Wirex Card.
Wirex’s card is included in our list of the best crypto and Bitcoin cards for this year. Without any hesitation, let’s get started with our review.
What Is the Wirex Visa Card?
As mentioned earlier, Wirex platform is a versatile app that allows you to buy crypto and exchange it for other crypto coins or fiat currencies. It’s easy to fund your Wirex account via bank transfer or credit card, or send crypto to the wallet address your Wirex account provides.
Wirex Visa Card
Wirex promotes its Visa card as the “next-generation multicurrency travel card”. It does indeed have an edge over traditional bank cards, handling 12 different currencies by converting them seamlessly at the point of sale, completely hassle-free for the user who doesn’t notice any of the conversion going on in the background. Let’s pause our general Wirexapp review and focus more on the Visa card review for a second. A few features worth highlighting about this card:
- Connect your crypto debit card to your Bitcoin, Litecoin, Ethereum, WAVES or XRP wallets and spend with it on a day-to-day basis
- Instantly convert Bitcoin, Litecoin, Ethereum, WAVES and XRP to GBP, EUR and USD at live rates.
- Cryptoback™ rewards you with 0. 5% in Bitcoin every time you enter your pin, swipe or use contactless with your card in a shop
- You can have up to 3 Wirex crypto debit card, one in each traditional currency. Learn more about how to order your card on the official review website, and don't forget to activate the card when it arrives.
What Are the Benefits of the Wirex Visa Card?
Wirex performs a seamless conversion at the point of sale. For example, if you have 0.5 BTC on your Wirex balance and you want to pay 100 pounds for something in a shop, the Wirex app quickly converts BTC to USD at the current rate and pays for the item in pounds. It all happens in seconds and you don’t wait any longer than with a normal bank card for the payment to go through.
Among other pros of Wirex crypto debit card, there are:
- Earn rewards in Bitcoin
- Very low fees
- Easy to use and set up
- Visa accepted everywhere
- Contactless and beautifully designed card
Cryptoback Rewards
When you use the card, you can also participate in exclusive Cryptoback rewards. These are automatically credited when you spend in shops. With this Wirex platform program, you get 0.5 per cent back in Bitcoin when you use your card to pay for transport, bars, restaurants and shops. Any Bitcoin you earn this way is instantly redeemable, including the ability to spend it.
Potential Wirex Visa Card Dealbreakers
The card is a great option for anyone who wants to spend their crypto and fiat currencies seamlessly. However, there are some potential drawbacks that you should be aware of before applying for one. Here are some of the possible dealbreakers:
- The Wirex Wallet card is only available in certain regions, such as the UK, the EU, Singapore, and Japan. If you live outside of these areas, you won't be able to get one.
- The card has some fees and limits that may not suit your needs. For example, there is a monthly maintenance fee of £1.00, a card delivery fee of £4.99, and a foreign exchange fee of 3%. There are also limits on how much you can spend, withdraw, and top up per day, month, or year.
- The Wirex Wallet card requires you to verify your identity and address before you can use it. This may take some time and involve uploading documents such as your passport, driver's licence, or utility bill.
- The card is not a credit card, but a prepaid debit card. This means that you can only spend what you have in your Wirex account, and you won't be able to build your credit score or access credit facilities.
- The app could use some UX improvements for the Wirex application.
- Security can be a little excessive and frustrating.
What Are Wirex Card Fees?
First of all, let’s start with charges for the credit card. Wirex crypto credit cards may incur the same charges as a normal credit card. These fees are:
- Annual basic fee
- Fees for withdrawals
- Fees for transfers
- Card issuing fees
- Transaction fees
- Top-up fees
Investors should be aware of these fees before opening an account with a crypto credit card provider. One provider that eliminates the above fees is Wirex Wallet. With it, customers receive a Visa card for free and do not have to pay any fees for opening an account, making withdrawals or transferring funds.
Fees for Crypto Trading
The Wirex crypto debit card providers also offer direct crypto trading via the credit card account. The following fees may apply here:
- Fees for crypto purchase
- Fees for crypto sales
- Fees for receiving cryptocurrencies
- Fees for sending cryptocurrencies
Here, too, there are sometimes strong differences between the providers. The receipt of cryptocurrencies to the integrated wallet should always be free of charge. Only the network fee should be charged for sending cryptocurrencies. Transaction fees for buying and selling should not exceed 1% of the transaction amount.
Is Wirex Card Safe?
Wirex credit cards issued by regulated providers can generally be described as secure. Since a crypto credit card is linked to a wallet, users should pay attention to various security aspects when choosing the right crypto credit card:
- Credit cards from major providers (Visa, Mastercard)
- Biometric - 2-factor authentication
- Secure storage of private keys
In terms of security, we can recommend the provider Wirex. This provider works together with Solaris Bank, which is why the UK regulations apply. Wirex must therefore meet strict requirements and users enjoy a high level of protection. There is a deposit guarantee of 100,000 pounds and comprehensive security measures such as two-factor authentication.
The crypto wallet also meets high-security standards. That is why the Wirex card from this provider can be described as secure. The card has the same security features as a regular credit card.
Conclusion
Bitcoin and crypto credit cards offer users the possibility to pay with cryptocurrencies in “real” life. These special credit cards therefore bridge the gap between cryptocurrencies and shopping in the analogue world.
Since this is a relatively new offer, there are currently only a few providers of crypto credit cards. Among these providers, there are already trustworthy providers based in the UK, such as Wirex card, which offers their customers a regular bank account with an integrated crypto wallet. In the area of fees, providers like Wirex do not have to hide from regular credit card providers either.
That is why these card providers already represent a good alternative to providers of regular credit cards. Due to the attractive conditions, the crypto credit cards are not only suitable for crypto enthusiasts but also for newcomers to the crypto sector. These cards offer all the functions of a normal credit card and also an integrated crypto wallet that enables trading and payment with cryptocurrencies.
F.A.Q.
The issuer of the card is Contis Financial Services Ltd, a company authorised by the Financial Conduct Authority to issue e-money and payment services. Contis Financial Services Ltd is a member of Visa Europe and provides the card under a licence from Visa. The card is a prepaid card that allows you to spend your crypto and fiat currencies anywhere Visa is accepted. You can also earn up to 2% back in WXT, the native token of the Wirex platform, on every purchase you make with the card. The card is available in the UK, the EEA and Singapore, and you can order it from the Wirex app or website.
The card is a convenient and secure way to spend your cryptocurrency and fiat currency online and in-store. However, there are some fees associated with using the card that you should be aware of. Here is a summary of the main fees:
– Monthly service fee: This is a fixed fee of £1.00.
– ATM withdrawal fee: This is a variable fee that depends on the currency and the location of the ATM. For domestic withdrawals (in your home country), the fee is £1.75 per transaction. For international withdrawals (outside your home country), the fee is £2.25.
– Foreign exchange fee: This is a fee that applies when you use your card in a currency that is different from your account currency.
– Inactivity fee: This is a fee that applies if you do not use your card for 12 consecutive months.
The card is a multi-currency card that allows you to spend your crypto and fiat currencies anywhere Visa is accepted. You can also earn up to 2% back in WXT, the native token of Wirex, on every purchase you make with the card. The card is currently available in the following countries: Austria, Belgium, Bulgaria, Croatia, Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Iceland, Ireland, Italy, Latvia, Liechtenstein, Lithuania, Luxembourg, Malta, Netherlands, Norway, Poland, Portugal, Romania, Slovakia, Slovenia, Spain, Sweden and the UK. If you live in one of these countries, you can order your card from the Wirex app or website. The card will be delivered to your address within a few weeks. You can then activate it and start enjoying the benefits of Wirex.
The card is a convenient and secure way to spend your cryptocurrency and fiat money. However, there are some limits on how much you can purchase or withdraw with your card. These limits depend on your verification status, currency and location. Here are the main limits you should know:
– For verified users, the maximum purchase limit is 10,000 pounds per day and 50,000 pounds per month. For unverified users, the limit is 250 pounds per day and 1,000 pounds per month.
– For verified users, the maximum ATM withdrawal limit is 3,000 pounds per day and 10,000 pounds per month. For unverified users, the limit is 250 pounds per day and 1,000 pounds per month.
– There are also limits on the number of transactions you can make with your card. You can make up to 50 purchase transactions and 10 ATM transactions per day.
If you want to increase your limits, you can upgrade your verification status by providing additional documents and information. You can also contact our support team if you have any questions or issues with your card limits.
Your information is safe with Wirex card. They use the latest security technologies and best practices to protect your personal and financial data. Wirex is a licensed and regulated company that complies with the highest standards of anti-money laundering and counter-terrorism financing policies. They also have a dedicated team of experts who monitor our systems 24/7 for any suspicious activity or unauthorised access. Wirex is committed to safeguarding your privacy and ensuring that you have full control over your account. You can set up biometric authentication, PIN codes, and email verification to secure your login and transactions. You can also enable push notifications and email alerts to keep track of your account activity and balance. Wirex values your trust and loyalty, and they work hard to provide you with a safe and convenient way to manage your money.