Wirex Card Review
Wouldn’t it be nice if you could convert your crypto assets into everyday purchases and buy goods with bitcoin and other altcoins? Well, now you can. Just get a cryptocurrency debit card and buy also non-virtual goods (sandwiches, jeans, gardening supplies, etc.) with your crypto assets. This is a review of Wirex Card – one of the many cryptocurrency debit cards.
Wirex Card primarily supports the biggest of all cryptocurrencies: Bitcoin, but the Wirex-company acknowledged in May 2018 that it now also supports Litecoin. The card will most likely support even more cryptocurrencies in the future. With respect to fiat currencies, Wirex Card supports EUR, GBP and USD.
US-investors may also use this card.
In August 2019, the Wirex Card received Type II membership of the Japan Virtual Currency Exchange Association (JVCEA). They were the 8th financial services company to do so. Membership is a huge milestone on the road to becoming a legal Crypto Asset Exchange Service Provider in Japan.
The Wirex Card also managed to have 2,600,000 registered customers, in September 2019. 3,000 people are registering every day. Between them, Wirex customers apparently buy an average of 1,126 cups of coffee every day across 193 countries. In the UK, the most popular places to use a Wirex card are Amazon, Sainsburys and McDonalds.
Wirex Card is a VISA-card, meaning that you can use the card at any point of payment that accepts VISA. This is of course a great advantage, seeing that VISA is the most widely accepted card in the world (alongside MasterCard).
Picture of Card
Wirex Card Fees
Wirex Card’s fees are not particularly high. There are of course fees involved in using it, but these are not deterrent to using it in our opinion.
The monthly fee is only USD 1.00. There is an issuance fee set to USD 17.00 which is slightly above the industry average (arguably USD 15.00).
ATM-usage results in a fixed fee of 3.50 on the withdrawn amount. This might be disadvantageous in countries where the normal ATM-machines only allow smaller amounts of withdrawals (USD 20 for instance). In such scenarios, in order to withdraw a larger amount you need to withdraw several times, thus triggering the fixed fee each time. You can usually avoid this by just going to a local bank at the relevant place. Local banks normally permit higher withdrawals.
Furthermore, the most important fee of them all, the commission on spending. Wirex Card sets you back 3.00%. This means that if you buy a nice sweater for USD 100, this will reduce your crypto assets with USD 103. However, different from many other cryptocurrency debit cards, Wirex Card also has a cash-back program. The rules for it are simple: pay something in-store, and get 1.50% back in Bitcoin. How great is that?? The cash-back deal was raised from 0.50% to 1.50% on 12 September 2019:
The maximum deposit is for the Wirex card is USD 1,000. If you need a card with higher maximum deposit limits than that, don’t worry. You’ll find it in our cryptocurrency debit card list.
If this is the cryptocurrency debit card for you, congratulations. Sign up here NOW.
If not, check out one of the other epic cryptocurrency debit cards in our cryptocurrency debit card list. Good luck!