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Wirex is a payment system and cryptocurrency exchange platform. With Wirex, users can buy and trade fiat and cryptocurrency quickly and use their Wirex card to make purchases -just like a Mastercard or Visa.

Wirex offers users two significant features: a cryptocurrency-fiat exchange and a Bitcoin and crypto-debit card. Their debit card is accepted by vendors anywhere that Visa or Mastercard are accepted. The goal of Wirex is to support using cryptocurrency for regular purchases. They are not only an exchange but also essentially function as a bank account for your cryptocurrency. The platform combines a cryptocurrency exchange with a reward-based payment card.

The platform offers a borderless, digital payment platform, established in 2014 in the United Kingdom. Since then, they have gained licenses to function globally available exchange. As of 2021, Wirex is available in residence in the United States. 

There are quite a few benefits to Wirex. The main draw is that they make it possible to make everyday purchases using your cryptocurrency earnings. Additionally, Wirex offers users spending rewards in the form of their native token WXT. They also have very reasonable transaction fees and additional bonuses on savings held in an account. 


  • Send and receive payments
  • Debit Card: accepted anywhere that Mastercard and
  • Cryptocurrency Exchange
  • Crypto Transfers and Payments
  • Wirex Native Token and spending Rewards: WTX
  • Cryptocurrencies
  • Crypto-back rewards: up to 2% back in WXT on in-store purchases
  • Savings Bonus: up to 12% on the balance of your WXT account
  • Exclusive merchant offers for shopping and travel rewards

Wirex Timeline

  • 2015: Wirex released a Bitcoin debit card, which functions the same as a Visa or Mastercard.
  • 2016: Accumulated over 500,000 customers from all around the world.
  • 2017: Became a member of SBI Group Investment and Partnership in Japan.
  • 2018: Wirex earned an FCA e-money license to create the first B2B (business to business) cryptocurrency-friendly banking accounts.
  • 2021: Wirex launched the MasterCard Principal Membership in the US.
Wirex’s Crypto-Card

One of Wirex’s greatest strengths is combining a traditional financial structure while keeping cryptocurrency investors in mind. The Wirex card is blockchain-powered, which means that even when making traditional payments, all of the transactions are being made and recorded securely on the blockchain.

Moreover, their accounts and cards are designed to make all kinds of transactions simple. With the Wirex app, users can trade and exchange cryptocurrency and fiat currency as needed. Users can even trade between fiat currencies with the app -so it is not just for cryptocurrency trading.

Supported Cryptocurrencies:


Supported Fiat Currencies:


Bitcoin Debit Card

One of their most popular features is the Bitcoin debit card. Each user receives a free Wirex debit card after they have joined. The card is accepted everywhere that Mastercard and Visa are accepted.

A few things to know about the Bitcoin debit:

  • The card is based on GBP (British Pound Sterling)
  • It can be used in 40 different countries
  • The maximum balance that can be transferred to the card is £15,000
  • It is free to add funds to the card with accepted fiat currencies
  • Card top-ups with any cryptocurrency assets cost 1% of the amount being added
  • Track all payments with the app
  • Adding funds can be done using the Wirex app

An important note of clarification; users cannot merge different cryptocurrencies into one account. Each cryptocurrency requires a specific digital wallet. The Wirex platform then holds all of these wallets, and users then decide which cryptocurrency account to spend/exchange from with their card or app. Therefore, each currency requires a different debit card because you are spending/exchanging from other accounts depending on how many different cryptocurrencies you hold.  

Transaction Limitations

  • A maximum of $10,000 US per transaction and $50,000 US per day in cryptocurrency transfers
  • There are no limitations for exchange with fiat currency
  • Top-up maximum for credit or debit cards has a limit of $5000 US day
  • $250 per day ATM withdrawals, and no more than a total of $400 a month
Fees and Rewards

There are 3 basic accounts that users can subscribe to: Standard, Premium, and Elite. They also offer customizable professional services, which are determined based on the company’s needs.

Fees for accounts range from $0-29.99/month, and with each different membership, there is a range of services and transactions offered. However, each account offers free debit cards, unlimited trades, and cryptocurrency transfers, as well as OTC. 

The main difference between the memberships is the rewards system. Users get more from the WXT savings bonus and a higher rate of return from their Cryptoback program.

The value of the membership will obviously depend on how much the card gets used. But to open an account is free, and users can upgrade their accounts once they have a better idea of how frequently they will use the account.


A few of the features from their rewards system that are worth highlighting are:

  • Cryptoback rewards range between 0.5% – 2% in WXT, for every transaction
  • No exchange fees using FX
  • Instantly conversions between cryptocurrency and fiat currency at Over-the-Counter.
  • Free ATM withdrawals for transactions SG$400 and under -per month
  • Unlimited spending and exchanges
  • Send funds to contacts in real-time
Buying Cryptocurrency

To begin with Wirex, users must complete the necessary KYC steps. Once your account has been verified, users will receive their Bitcoin/Wirex cards in the mail. Users can also use the Wirex app to shop.

It is worth noting that, while Wirex focuses on cryptocurrency, it is a centralized financial institution. For those looking to merge cryptocurrency with traditional financial transactions, this will not make too much of an impact. However, as with all centralized exchanges, there is not the same level of anonymity with Wirex as there is with decentralized platforms. 

The downside of decentralized platforms is their limited usability, as you can’t always exchange between fiat currencies easily. Moreover, increasing legal requirements are starting to make operating an unregistered exchange more difficult.  

But once the account is improved, users can trade easily on the Wirex platform, with limited restrictions.

Important Information
Regulation and Security

Wirex functions much as traditional exchanges do. That means users can buy and trade multiple fiat currencies on their platform. Wirex is licensed to operate as an exchange in numerous European countries, including the UK and the US. It also means that it requires standard KYC processes. Approval will require proof of residence and a driver’s license, passport, or visa.

The licenses and certifications that Wirex holds include:

  • Financial Conduct Authority (FRN: 902025)   
  • PCI Level 1 Service Provider
  • Supervised by the Bank of Lithuania    
  • Monetary Authority of Singapore
  • Central Bank of Ireland

As far as security is concerned, Wirex is bound by the standards set by the financial institutions that have issued them licenses to function as legal exchanges.

Other security and privacy practices are:

  • Wirex is PCI-DSS level 1
  • 3D secure enrolment
  • Fort Wirex used cold storage for the majority of unused cryptocurrency -cold storage is by far the most secure way to store cryptocurrency
  • A multi-signature vault, which means transactions need all electronic signatures to be completed
  • 2-factor authentication
  • All private customer data is stored using TLS and 265-bit AES encryption.

ATMs: Wirex does not charge for cash withdrawals for $400 or less.

  • However, there is an ATM transaction fee for each machine. And there are added fees for using the Wirex outside of the country of origin.
  • Another concern that users have reported is that the debit cards do not work in all ATMs.
  • Additionally, there is an extra 3% charge to use the card outside of the country of origin. As such, it is not ideal to use when traveling.
  • Users need multiple cards for each cryptocurrency they use.
Of Note

There are some fairly mixed reviews from Wirex customers. Several of the issues that users have complained about are:

  • Loss of access to funds: users have complained that they were not readily available after depositing funds and that the app did not function properly.
  • Withdrawals: other complaints claim that making withdrawals is difficult, so cash is not readily available.
  • Slow customer service: complaints that customer service did not respond in a reasonable amount of time.
  • Lost funds: more concerning claims are that funds are no longer accessible at all and that satisfaction is never met.
  • Verification problems: users have had to repeat the verification process in order to gain access to funds. Some have reported that the re-verification process takes multiple tries and sometimes to avail.
  • Language availability: customers have been responded to in the wrong language.
Customer Demographic
New to Crypto

Wirex is designed with simplicity and usability in mind. If you know how to use a banking app, you will be able to figure out how to use Wirex quite easily. Wirex accepts multiple fiat currencies, making it easy for new cryptocurrency investors to buy crypto with Wirex. 

And, they have a limited selection of top-performing cryptocurrencies, which makes the selection process easier. Users can exchange easily between fiat and cryptocurrencies. Additionally, the Wirex debit card makes using cryptocurrencies for purchases easy.

Experienced Users

Those who are experienced cryptocurrency investors may also benefit from Wirex’s features. If you have been trading and using cryptocurrency for a while, you will know that putting cryptocurrency to use for small transactions has its limitations.

With Wirex’s debit cards, many of these limitations have been removed. And, the greater the number of funds that you hold in your Wirex account, the more WXT you can earn. Wirex has the bonus of free ATM withdrawals and earning rewards. It also makes life easier because Wirex is a registered exchange in over 40 countries.

Wirex is a highly functional spending and trading platform, as it offers users the ability to make easy crypto-fiat exchanges in many different regions, including the UK and the US. The platform supports debit cards, which means users can use their Wirex funds anywhere they accept Mastercard and Visa. Additionally, depending on your account type, the debit card comes with varying levels of rewards. As far as fees go, Wirex’s fees are well in-line with other exchanges, at between 0.5-2%.

The most significant limitations of Wirex are the limited number of cryptocurrencies they offer. Currently, they only offer about 30 different cryptocurrencies, which is a very small selection of what is available.

Lastly, Wirex is a centralized platform that requires KYC, which will be less appealing for many cryptocurrency users. However, centralized platforms are often easier for new cryptocurrency investors because users can fund their accounts with multiple fiat currencies.