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Welcome to our Wirex review where we give you a detailed look at the platform that was the first to bring you a crypto-capable Visa card. Since then, this crypto exchange has become one of the best in the world.
In this review, we will show you everything that makes this crypto exchange platform unique and what the best aspects are that set it apart from its industry competitors. There are a number of different currency types to exchange and store on the platform and it is exactly that diversity that makes it such a promising option.
Depending on your region, you can receive a welcome bonus of €15 or $15 once you complete your KYC verification.
As well as the bonus offer on the site, the platform has enough to entice new currency traders with its exceptional tools and streamlined mobile app.
In order to get your account set up with Wirex, you will need to either create your account with the desktop version of the site or download the mobile app. You can download the mobile app for either IOS or Android-compatible phones. Once you have downloaded the app, simply hit the “register” button. From there, you will need to fill in some information, like your name, surname, email address and preferred password. You will then be sent an email with a verification link.
Once you follow the link, you will return to the app. From there you need to verify your phone number and country code. You will be sent a 7-digit code. And that is everything you need to do. Once the process is complete you can then use the app and get started with selecting your prefered banking solution to use in conjunction with Wirex. The process above is almost identical to when you create an account with the desktop version of the site.
We downloaded the mobile app ourselves to see what it was all about. If you prefer though, you can use the desktop version of the site as well. Our Wirex review was wholly impressed with what we found. The app is laid out in such a way that finding everything you need is easy. Not only is it well-designed but it runs incredibly smoothly. We jumped around between different sections of the app and found little to no delay when we did.
The Wirex platform does not function like your average trading platform. Instead, you are able to transfer fiat currencies and cryptocurrencies onto a card that Wirex sends you. Our Wirex review found that users are sent their card within a week of applying. From there, setting up your Mastercard (in the EEA) or Visa card (in the APAC region) is easy as you can transfer money safely from your bank account onto your Wirex card. The app allows even novice crypto fans to be able to easily exchange their crypto to be used in their local currencies. It’s a quick and easy way to make your cryptocurrencies more readily available to you which is why so many people have had positive reviews about using the app.
Overall, our Wirex review of the mobile app was positive. The only step we found that had some issue was transferring cash onto the Wirex card itself but the flaws that we found have apparently been addressed.
|Headquarter||9th Floor, 107 Cheapside, London, EC2V 6DN, United Kingdom|
|Year of Founding||2014|
Having some diversity with your account options is always a treat and our Wirex review found that users could either open a standard account where you will have access to over 30 different currencies that include major fiat currencies and cryptocurrencies as well.
Each crypto and fiat currency available will be registered as its own account that you can easily see on the app or on the desktop version of the site in a clear and concise way. The account fees for your currency accounts at Wirex are almost all without any additional costs. Fiat currency transactions are free from fees. Your minimum transactions are also fairly diverse but you will need to withdraw at least $10,000 if it is from your crypto account.
Aside from your standard currency accounts, users can also open what is called an X-account. The X-account is the perfect option for users looking to accrue significant interest on their funds. With the X-accounts, you can earn up to 16% interest on selected currencies. Wirex then calculates the interest every day and pays out the dividends once per week. As you can see, this is the perfect platform to both store and accrue interest while still having fluid accessibility to your crypto and fiat currencies with the Wirex MasterCard.
Our Wirex review found that the platform does not function like your typical trading platform. Instead, you have the capability to store, use and invest your crypto and fiat currencies on the platform. So, how can you go about using the Wirex platform?
Wirex has a web-based version of its platform where users can create their account. This is arguably the best version of the site as you can never really beat the quality of a desktop site. The web-based platform has everything you need including 30 different currencies to choose from and an exchange platform that can turn your crypto into a readily usable fiat currency on your Wirex MasterCard.
The mobile app version of the site is not far behind in terms of quality and usability though. You can use the Wirex platform via mobile for either IOS or Android devices. The app is sleek and easy to use as you use all of the currencies and the same functionality that the web-based platform has right at your fingertips. We can’t speak highly enough of the Wirex mobile app. To show you just how well it functions we suggest comparing it with our T1 Markets review.
From what we could gather with our Wirex review, there doesn’t appear to be any real limits on the type of payment method that you use to transfer funds into your Wirex account and onto a Wirex MasterCard. From what we can see, users can use everything from crypto wallets and e-wallets to bank transfers and credit/debit cards. This means you have very little restriction in terms of how you move your money in and out of your Wirex account.
As far as the fees go, we mentioned that depositing crypto into your account will incur a 1% transaction fee.
A quality customer service plays a major role in the experience of the user on a platform like this. This is particularly true for newer users who have yet to use a platform like Wirex before. Our Wirex review decided to take the time to analyze the customer service options on the site and the overall quality of the service itself.
From what we could gather from our Wirex review, we found that users could either use the live chat feature or contact Wirex through a number of different email portals that all have very simple functions. We decided to test out the live chat feature as it was the most easily accessible on the site. We were really pleased with what we found. Firstly, our question was responded to within a matter of moments. The support staff member we spoke with was not only exceptionally knowledgeable about all the different facets of the site but they were also friendly and warm to chat with. We received all the help we could have ever needed to fully understand how the site operates.
If you are ever in need of assistance when using the Wirex platform we highly recommend that you chat with their support team. You should have all your issues and queries dealt with in a timely fashion. There is also a detailed FAQs section on the site if you want to first try and find an answer for yourself. To see just how highly we rate the Wirex platform, take a look and compare our Robinhood review.
Before you go signing up straight away, you may have asked yourself, “is Wirex reliable?” or “are there any Wirex scams I should worry about?” Well, our Wirex review has taken the time to assess the security measures and the regulation of the site.
As far as your insurance on the platform goes. Wirex currently has insurance on X-accounts up to $30 million. They are planning on expanding this amount in the near future as well. So, you can see that your funds are safe in the investment accounts but what about where your funds are stored? Your funds at WIrex are stored in a separate client account so that should anything happen to Wirex or should they become insolvent, your funds will be returned to you without a penny missing.
Wirex are also fully regulated by the FCA so you know they are a legitimate platform that is regularly being checked on by the highest financial authority. In addition to this, Wirex uses 2-step authentication features to keep your account as safe as can be. And lastly, the site uses the latest encryption software to layer all of your data. This makes it nearly impossible to be accessed by any third parties or hackers.
Wirex was created in 2014 and since then it has flourished into one of the best crypto and fiat currency exchange platforms in the world. There are plenty of unique features to the site that gives it an edge over its competitors.
Aside from the fact that this platform is so incredibly easy to use, it also provides users options upon options. Whether you need deposit options, currency options for fiat and cryptocurrencies or customer service options, this platform is always looking to give its users access to more than just one option. That is what our Wirex review truly loved about this platform, the sheer amount of options that are provided in every aspect of the site.
Wirex started back in 2014 but they became the first platform to enable a crypto-capable Visa card in the world in 2018. Since then, exchanging, transferring and spending your fiat and cryptocurrencies has never been easier.
There are currently over 30 different currency types that you can exchange on the platform. These include cryptos like Litecoin, Ethereum, XRP, XLM, DAI and of course Bitcoin. The support fiat currencies include: Australian Dollar, British Pound, Canadian Dollar, Czech Koruna, Euro, Hong Kong Dollar, Japanese Yen, Mexican Peso, New Zealand Dollar, Singapore Dollar, Swiss Franc, and U.S Dollar.
Users can then exchange, spend, transfer or add these funds on the Wirex platform. Our Wirex review found that users can exchange these funds from crypto-crypto, fiat-fiat, fiat-crypto and crypto-fiat. There are no restrictions on how you can exchange your funds. But what are the transaction fees like?
From what we could see with our Wirex review, there are very limited transaction fees on the site. In fact, you are charged no fees for making fiat exchanges of any kind on the platform. The only real fees we could see were for making a crypto deposit which would incur a 1% cost. Aside from that, this platform does nothing to try and cheat you out of any of your cash.
Overall, there is so much to like about this crypto and fiat exchange platform.It is exceptionally easy to use which makes it very user friendly and on top of that, you have access to a number of different currency options. If you are looking to store currency for investment purposes or simply looking to exchange them for different currencies, then WIrex is the platform for you.
Wirex provides users with a unique experience when it comes to cryptocurrency and fiat currency. Our Wirex review will take you through exactly what this platform is, what it can do for you and how you can get started using it.
This is a crucial question for most users and on that, we answer in full with our Wirex review. We take you through the Wirex experience and rating of the average user to paint you a clear picture of the overall safety of using the platform.
Our Wirex review goes into major detail as we bring you all the information on what currencies you can currently find on the platform. Whether it is Wirex crypto or simply fiat currency options, you’ll know for sure what you can find on the platform after reading our review.
Our Wirex reviews of this platform won’t forget to give you a detailed breakdown of the current deposit options on the site. We’ll let you know how you can transfer funds into your account and what some of the processing times and transaction fees might be as well.
As should now be more than clear, Wirex should be your go-to for crypto and fiat currency exchange. The web-based platform and the mobile app make exchanging, transferring and spending currencies that much easier., The fact that you have all of this available in one place simplifies your life to a significant degree. We can’t rate this site highly enough as they have blown us away while conducting our Wirex review. If you are looking to trade with a platform that is more conventional, then we suggest taking a look at our Plus500 review instead.