Based in London, Wirex is a digital money solution that combines cryptocurrencies and traditional personal finance services. The company aims to encourage the adoption of digital currencies by providing an easy to use and secure global platform. Dmitry Lazarichev and Pavel Matveev established Wirex at the tail end of 2014.

About Wirex

Since its inception, Wirex has had a transaction volume of $2 billion and 1.8 million users. The company headquarters are in London with additional offices in Kiev and Tokyo. Wirex is available in 130 different countries except for the United States of America.

The main aim of Wirex is for everyone around the world to have the ability to access banking services easily via internet access. The solution its fronting has no paperwork included and the company doesn’t take off days nor close for business.

The other goal for Wirex is to eliminate geographical limitations within finance. According to Wirex, everyone should be able to send and receive money to anyone anywhere within seconds.

Wirex Features

Wirex is both an application and an account that allows you to control your digital assets as well as traditional financial assets. Wirex began life as a provider of virtual cards before expanding to its current services. The company provides a personal banking solution that combines traditional banking and cryptocurrencies.

The cloud-based personal banking offers debit cards, mobile banking, and remittances. You can transact GBP, USD, and EUR through debit and credit cards. Buy, store, send, spend and convert Bitcoin and fiat currencies.

Wirex card provides both buying and selling of Bitcoins by accepting transfer via bank linking accounts. The card offers many blockchain opportunities which translate to cheaper and hassle-free services.

Wirex Visa Payment Card

The contactless Visa card allows you to make payments using your Wirex account. Thanks to the card, you can spend your cryptocurrency the same way as any fiat currency. Wirex markets its visa card as the only Visa in the world that allows you to convert crypto into fiat currency.

Currency Accounts

Wirex currency accounts work the same way as a regular bank account, with a sort code and designated account number. Make and receive deposits and use the linked debit card for regular payments. You can use the service with several clicks thanks to integrated technologies for global payments and peer-to-peer transfers. Manage your account via the free app (available for iOS and Android) or on the desktop.

Cryptocurrency Wallets

Enjoy secure wallets for Bitcoin, Litecoin, XRP and WAVES with support from online and mobile applications. Users can choose from one of six different currency wallets. The secure wallets have cold storage features for cryptocurrency, multi-sig functionality, and traditional currencies.

Bitcoin Exchange

To buy Bitcoin via Wirex, you’ll need to fund your account via credit card, bank transfer, PayPal, altcoins or using other payment methods. Converting your balance into Bitcoin is free. The fully integrated platform allows you to spend your Bitcoin using the payment card as everything is in one place.

Pros

  • Quick verification
  • Has a UK FCA e-money license
  • Contactless Visa Debit cards
  • Browser-based and mobile apps
  • Crypto-friendly business accounts

Cons

  • Maintenance fee of £1 per month
  • Wirex cards are not accepted everywhere
  • Can buy and sell cryptocurrencies cheaper elsewhere

By Jeff Mwaura, Jeff is Kenyan based freelance writer with a focus on technology and finance.