Wirex - Another awesome debit you can would like to use

Wirex - Another awesome debit you can would like to use

By Zedi | Budget Creator | 6 May 2020


So... Here is another one...

From my point of view, it may not be as good as the MCO Visa card, but I would still definitely recommend it if you just want a simple card with some cashback (range from 0.5%-1.5%). Let's go through it now.

Wirex Visa Card

Wirex Visa Card is a cryptocurrency debit card which you has a wallet to store roughly 10 digital asset (BTC, LTC, ETH, Wirex Tokens etc.) It also comes with a global currency wallet which it can turn to a convenience travel card to spend around the world. (Apparently it has more coverage of supported fiat currencies than MCO Visa Card) 

Here are the list of supported fiat currencies

  • GBP
  • EUR
  • USD 
  • AUD
  • CAD 
  • CHF 
  • CZK 
  • HKD 
  • JPY 
  • MXN
  • SGD

 

If you would like to purchase some cryptocurrency, you could also use the wallet itself to get some digital asset :)

Funding your account

You have fund your account in three different ways...

  • Credit/debit cards (3D Secure) (Not recommended as Cash advance/fee may occur depending on your bank card)
  • Bank transfer
  • SWIFT
  • SEPA

Personally, as I have a Commwealth Bank account (an Australian bank), they uses Mastercard payment settings, which unfortunately unable to top-up my account, therefore I have to use Transferwise to fund my account, as I am still using a bank transfer, there will be no transaction fee or time to wait (it's instant!!!). So you may consider to use such method if you found out your card isn't able to do the bank transfer to your Wirex card. (You can use my link to open up a free TW account and receive a free international transfer if this is your case)

Ofcouse if you have cryptocurrency wallet, you could use this method to fund your account as well, it's just when you tap-and-pay, it would transfer to your fiat wallet before purchasing.

 

Fees

Depending on your country, you may or may not encounter any fees at all.

Account maintenance fee 

EEA: £1.00 / €1.20 / $1.50 per month

Other region: free

ATM Withdrawal fee

EEA (including UK): £1.75 / €2.25 / $2.50

International: £2.25 / €2.75 / $3.50

Account top-up fee

Bank transfer IN / OUT SEPA: Free

Bank transfer IN / OUT Faster transfer: Free

Bank transfer IN SWIFT: Free

Bank Transfer Out SWIFT: £12 / €13 / $15 (EEA) / $15 (All other region)

Crypto top-up by external card: 1%

 

Please refer to https://wirexapp.com/help/article/wirex-fees-and-limits-0077 for inquiry of other fee and charges.

Cashback

So now the Cashback bit....

Wirex Cash Back

Cashback are paid out with Bitcoin into your wallet based on the amount of money you spend in-store. Rates are also different depend on how much Wirex token (WXT) you hold. According to 06/05/2020 21:25 Australian time, 1 WXT = AUD$0.0155, therefore....

No WXT: 0.5% - which is the most basic one, no investment needed & also free delivery of card to your door step

AUD$775 = 50,000 WXT: 0.75%

AUD$1550= 100,000 WXT: 1%

AUD$7756 = 500,000 WXT: 1.5%

It is fairly simple which the more you hold, the better the cashback, so it is your option to choose if it worth the investment.

Pro

  • Buy & Sell supported Cryptocurrency easily
  • User-friendly interface
  • Wirex Visa Debit card can be used as long as the merchant accepts payments from Visa Cards 
  • 0.5%-1.5% cashback on every in-store purchase
  • Secured
  • Potential premium feature coming in the future e.g. lounge access, concierge services etc.

Con

  • US-investors may not use this card
  • Online purchase unable to receive cashback
  • Maximum cashback in-store is £50 per day.
  • Transfer limit of 10 BTC per day
  • Email/fill in request is the only way to get customer support

Conclusion

I have been using this card for a while and it is convenience to use. Particularly Bitcoin halving is coming, the cashback of Bitcoin would more likely to build up more than it is at the moment. I enjoy this card, but please do check out my another post about the best card so far I think if you have time. Lemme know if you have any question and comment, I will try to get back to you as soon as I can. If you are interested in this card, please use my referral link to sign up for Wirex :)

Further posts will be coming along the way, stay tuned. 

Stay Safe, Stay Strong~

*Disclaimer: I am not a financial advisor, this is all based on my personal experience, investment can have high risks, please consider before taking any action :)

 

Want to receive a $50 USD equivalent in MCO tokens for the best debit card you may ever encountered?

Click on this link: https://platinum.crypto.com/r/q66uv85bbt

 

Want to get another $10 when you buy or sell $100 worth of cryptocurrency?

Click on this link: https://www.coinbase.com/join/wong_gy2

 

Want to get $10 worth of BTC after your first deposit? (This is recommended for Australia ppl)

Click on this link: https://www.coinspot.com.au/join/REFB3HG3A

 

Want to earn some free cryptocurrency through learning?

Click on this link for earning free OXT: https://coinbase.com/earn/oxt/invite/w31gym0t

Click on this link for earning free EOS: https://coinbase.com/earn/eos/invite/ycfjspb4

Click on this link for earning free XLM: https://coinbase.com/earn/xlm/invite/f3b6xzw9

 

Want to earn free LBRY while watching video?

Click on this link: https://lbry.tv/$/invite/2xb6emqJp8GFKxcdFFY6rnfM9uGSgkwP

 

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Zedi
Zedi

International student who live in Melbourne Passionate about cooking, life, finance and more importantly, to have fun.


Budget Creator
Budget Creator

In this blog, I would suggest ways to increase your passive income while doing your daily activities. There would be many saving tips I would publish in my experience. As I am in Melbourne, Australia, I hope that advice I will be giving would suit most of your guys. Enjoy reading and feel free leave a comment on ideas you have as well. Stay safe and Stay strong together.

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