Wirex review

Wirex is a platform that ties together fiat and crypto currency accounts and allows spending crypto with a prepaid debit card. They were the first company to recover from the VISA WaveCrest ban and release a working crypto debit card.

The company info is: Wirex Limited (CRN 09334596) 25 Old Broad Street, London, EC2N 1HN, UK.

Sign up to Wirex now or read further for details:

Countries supported by Wirex

Wirex supportes EEA countries – EU and UK.

They are also extending their service to Canada and their wallets already work for Сanadians, and they will release their crypto debit card for Canada in 2018.

We know from private communication with Wirex that the US is next on the list of supported countries.

Worldwide residents’ support is also coming, although the time frame is unknown.

Using Wirex

To use Wirex go to Wirex.com and create your account.

Once you’re done you can download an iOS or an Android app for your phone.

Once you’ve signed up you need to complete verification of your account and once you do that you’re all set to go.

Depositing funds to Wirex

Wirex supports the following currencies: USD, GBP, EUR.

Crypto wallets available in the Wirex system are: BTC, ETH, XRP and LTC.

You can deposit crypto coins to Wirex directly from your wallet by clicking “deposit”.

Fiat deposits are possible through credit card and SEPA bank account. IBAN in Euro is also available for residents of France and Spain.

Exchanging currencies with Wirex

Click “exchange currencies”, select your paid and enter the amount you’d like to exchange.

Once in the exchange section, you will see cryptocurrencies (BTC, ETH, LTC, XRP), and if you verify your profile and deposit fiat (USD, GBP, EUR) you will see them too:

Here’s what the company says about currency exchange fees:

Wirex does not charge anything for adding or sending funds to and from your Wirex bitcoin account. A small blockchain fee is charged by the blockchain network.

Shold be noted that Bitcoin deposit and withdrawal fees are really low as they are calculated properly, Other services add up a hidden margin on their BTC fees, while Wirex does not.

Cryptocurrency wallets settings

If you are using Wirex to trade crypto and exchange back and forth between coins a lot – keep in mind to not keep too much on Wirex. The company does not provide you with the private key, which means they own crypto on your behalf. Of course it’s a legit company – but still ideally these services should be providing private keys to users.

Here’s how Bitcoin wallet settings look at Wirex:

The public key, i.e. the receiving wallet address, stays the same throughout your Wirex usage. Wallet re-use is not really a good practice so hopefully they will allow generating new wallet addresses for each transactions.

Using the crypto cashback feature

Each time you spend cryptocurrency at POS terminals with your Wirex card you get 0.5% of the amount spent back to your wallet. The features is called “cryptoback” and works just the same way as cashback works with many regular credit cards. Except you are getting the cryptocurrency back immediately and not at the end of the months like with fiat cards.

You can see crypto you got back as part of the cryptoback program in your app backend:

Please note that the cryptoback feature works for POS terminal purchases only and not ATMs. So – cafes, restaurants, grocery stores will all get you 0,5% of crypto back if your spend your Bitcoin, Ethereum, Litecoin or Ripple XRP with Wirex.

Wirex card fees and limits

Here’s a table with the latest Wirex fees and limits reviewed:

Compare Wirex to other working debit cards

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