Find out why you should use the Wirex platform and next-gen card to make payments. Check out the payment methods that make the platform secure.
Wirex is a popular digital platform that helps investors to access both their traditional currencies and cryptocurrencies. The traders praise the Wirex mobile app and next-gen card that permits them to quickly and securely buy, sell, store, and exchange. A digital payment platform focussing on equalizing traditional currencies and cryptos and making them accessible, Wirexapp was founded in 2014 by Pavel Matveev. Presently, Dmitry Lazarichev operates the exchange worldwide.
Here, there are a variety of traditional currencies and crypto that users can trade without any fuss and hidden fees. Investors customize the app to make it easier for them to select from traditional and digital currency accounts. Wirex recently launched its EUR or GBP cards Mastercard debit cards that one can use at over 61 million outlets worldwide, allowing contactless payments to users. Moreover, cardholders get a maximum of 2% cashback in Wirex tokens when using the card in various online stores.
Key Features of Wirex Crypto Exchange
Following are the key features of the Wirex app crypto exchange –
- Spend On Both Digital Currencies And Fiat Currencies: Wirex account provides the investor’s accessibility to a range of trending cryptocurrencies. Wirexapp crypto charges zero exchange fees for instant conversion at any PoS. Users can link the following crypto, and traditional accounts with the card include USD, GBP, CZK, EUR, RON, HUF, PLN, CAD, RON, and HRK and WXT, BTC, XRP, LTC, ETH, WAVES, NANO, DAI, XLM, LINK, MKR, AAVE, UNI, and YFI.
- The Crypto Back Program: Wirex platform gives amazing rewards to card users. You can get maximum rewards by spending more currency using the Wirex card. Every time the traders make a purchase using the card, they get up to 2% instant rewards. These rewards are paid out in WXT. Hence, in the Wirex app, you need to check the X-tras account to see the rewards.
- A Smooth User Interface: Most investors find the Wirex app easy to use. Wirex platform provides a user-friendly interface that helps the traders locate all the features from submitting a support ticket to funding their account. You won’t find the app cluttered, and it will be super easy to find different currencies. The Wirex mobile app doesn’t only help store crypto in an account and provides a robust platform to make the process of trading and exchanging currencies seamless. The investors can instantly see the currencies in their wallets or card after exchanging the crypto to traditional currencies inside the app.
- Multi-Country Support: Wirexapp crypto exchange platform is continuously growing and is providing service to most countries. They are trying to make the app available to all the nations, from China to Peru. Users can use The Wirex card to spend 150+ fiat and digital currencies in more than 54 million locations worldwide.
Supported Payment Methods
The exchange currently supports the following deposit methods:
- Debit Card
- Credit Card
- Bank Transfer (SEPA)
Fees Charged By The Exchange
Wirex platform has made the process of exchanging and purchasing digital and traditional currencies secure and straightforward. They simplify the process by integrating 3 OTC institutions and ten various exchanges to get better pricing of currency pairs for every investor. Their prices consider differing exchange limits and fees, different levels of liquidity, currency pairs, and levels of volatility to match the trades for every investor. The company searches for the best Bid and Ask rates that can be sourced at transaction time.
- Unlike other organizations, they don’t charge additional fees to process the transaction. Wirex Visa cardholders need to pay maintenance fees every month of €1.20 or €14.4 every year. If a Wirex investor doesn’t use their card, they won’t make payments to non-SEPA zones.
- Wirex debit card users don’t have to pay any insurance fee. However, they have to pay a $10 fee when they have to replace their card. When the investors use the card to make transactions internationally, they will make a 3% payment of the transaction amount.
- Those who make cash withdrawals in Euro will be charged €2.25. When they withdraw cash in a foreign country, they have to pay 3% of the withdrawn amount with a fixed fee of €2.25.
Are My Funds Safe – What If The Exchange Gets Hacked?
Yes, your funds are safe. Wirex takes the security and safety of the funds very seriously. Hence, they have built the safest and trustworthy website by including the trending security technology in the financial and blockchain industry. Here are the latest security features:
- SSL: Secure Socket Layer (SSL) is a technology created for security and creating an encrypted connection between a browser and web server. For all the interactions between web browser and server, Wirex utilizes 256-bit SSL to entirely remove the chances of a “man in the middle” attack. Hence, information that is shared between a web browser and server remains private.
- Two-Factor Authentication (2FA): Wirex includes 2FA as an extra layer of security to ensure the investors have to access the device to log in successfully.When the companies don’t include this feature, anyone can log in to the account using the username and password. Since every user wants their money to stay secure, Wirex recommends their investors enable the 2FA feature.
- Multi-Signature Technology: The multi-signature technology provided by BitGo secures every Wirex account. Companies use this technology to make the transaction of funds impossible without the sign of the involved parties.All the investors have access to 2-3 multi-signature bitcoin account with a different range of private keys. The company closely works with BitGo to make sure your fund stays safe and secure.
Pros and Cons
- Regulated by FCA, the Bank of Lithuania, and MAS.
- Supports fiat along with cryptocurrencies like Bitcoin, Ethereum, Solana, Cardano, Litecoin, etc.
- Global reach in more than 130 countries worldwide.
- Competitive and decent fees structure
- Mobile compatible Wirex app offers easy trading of crypto and fiat.
- Simple registration
- No demo account
- Does not offer charts or other indicators to conduct any further technical analysis.
- Limitations on daily and per-transaction spending limits.
The Wirex platform was founded to get more people involved in the crypto revolution by removing the geographical barriers to finance. Now that the world is drooling over the Metaverse, there are numerous opportunities for crypto beginners to start investing in cryptos. You can invest in NFT collections and can start your own digital artworks. It is trying to expand its reach further. They allow the traders to buy and sell different cryptocurrencies that are popular among crypto investors. The company has included several features to protect the funds of its users. If you are looking for a secure website to buy cryptocurrencies, then Wirex is the ideal platform.