Wirex Card Review (2022)
Ease of Use
Wirex provides crypto-friendly accounts that have reasonable fees (around 2.5% when I checked), a decent desktop and mobile interface, and currently supports 36 cryptocurrencies – including Bitcoin (BTC), Ethereum (ETH), and Ripple (XRP).
Wirex has full functionality in 40 countries (including Australia, New Zealand, and much of the EU). However, UK residents currently have significantly restricted access to everything that Wirex has to offer.
Wirex is a crypto-friendly currency account. It allows you to store, transfer, and exchange between cryptocurrencies (e.g., Bitcoin) and fiat currencies (i.e., GBP, EUR, & USD).
You can also shop in-store and online with Wirex’s GBP Mastercard debit card
Is it the best bitcoin debit card available in the UK and EU? Check out this Wirex review to see what I think.
Advantages & Disadvantages
- Quick verification (less than 5 mins).
- Hold a UK FCA e-money licence.
- Buy and sell Bitcoin (BTC) and more than 40 other cryptocurrencies without paying unreasonable fees (2.5%).
- Buy, sell, and store traditional fiat currencies (including GBP, EUR, and USD).
- Earn up to 2% cashback (in WRX) when you use your Wirex card in-store or online.
- Contactless Mastercard debit card (issued and delivered for FREE).
- Browser-based and mobile apps (iOS & Android).
- There’s no monthly account management fee.
- 24/7 customer support.
- 3.3 Trustpilot rating (8000+ reviews)
- It’s possible to buy and sell bitcoin (BTC) cheaper elsewhere.
- Limited number of cryptocurrencies available to UK users (just 9 out of 36).
- You’ll need to pay £29.99 per month to unlock the highest cashback rates.
- The desktop interface looks terrible and feels harder to use.
- Wirex cards aren’t accepted in some places (but this is quite rare).
What Is Wirex?
Wirex was established in late-2014 by Dmitry Lazarichev and Pavel Matveev. They’re based in the UK but have offices around the world, with more than 250 employees. They were previously known as ‘E-Coin’ but rebranded in 2016.
To sum up their mission statement, Wirex is aiming to.
- Expand the availability of banking services.
- Get more people involved in the ongoing financial revolution.
- Remove the geographic limitations of finance.
- Store 49 cryptocurrencies – including Bitcoin (BTC), Ethereum (ETH), and Chainlink (LINK) – in Wirex’s web wallets.
- Send from, and receive to, these cryptocurrency web wallets.
- Buy and sell supported cryptocurrencies with GBP, EUR, and other fiat currencies at reasonable rates (currently about 2.5% in fees).
- Wirex’s GBP and EUR cards are Mastercard debit cards.
- You can use it anywhere that Mastercard is accepted. That’s currently more than 61 million outlets and ATMs around the world (some merchants might decline it).
- Contactless payments are supported.
- Earn up to 2% cashback (in Wirex Token) when you use your Wirex card in-store or online.
Wirex fully supports 40 countries – including Australia, New Zealand, and most of Europe.
Wirex still isn’t available in the United States either – even though it was scheduled to be released there in April 2021.
There’s partial support (i.e., without card features) in dozens of other countries. You can check what features are available in your country – or one that you’re visiting – here.
The following cryptocurrencies are available on Wirex:
- 0x (ZRX)
- Aave (AAVE)
- Augur (REP)
- Balancer (BAL)
- Bancor (BNT)
- Basic Attention Token (BAT)
- Bitcoin (BTC)
- Cardano (ADA)
- Chainlink (LINK)
- Chiliz (CHZ)
- Compound (COMP)
- Curve DAO (CRV)
- Dai (DAI)
- Dogecoin (DOGE)
- EOS (EOS)
- Ethereum (ETH)
- FTX Token (FTT)
- Kyber Network (KNC)
- Litecoin (LTC)
- Loopring (LRC)
- Maker (MKR)
- Nano (NANO)
- OMG Network (OMG)
- Ripple (XRP)
- Solana (SOL)
- Stellar (XLM)
- SushiSwap (SUSHI)
- Synthetix (SNX)
- Tezos (XTZ)
- UMA (UMA)
- Uniswap (UNI)
- Waves (WAVES)
- Wirex Token (WRT)
- Wollo (WLO)
- Yearn.Finance (YFI)
- Polkadot (DOT)
- XSGD (XSGD)
- Golem (GLM)
- IOSToken (IOST)
- Status Network Token (SNT)
- Graph Token (GRT)
- Quant (QNT)
- The Sandbox (SAND)
- Decentraland (MANA)
- Stasis Euro (EURS)
- Tether (USDT)
- True (TUSD)
- USD Coin (USDC)
- Pax Dollar (USDP)
If you live in Europe, then you should be able to buy, sell, store, and transfer all of these cryptocurrencies.
However, this isn’t the case in the UK or Singapore. Check this out for more information.
FYI: Wirex has recently mentioned that they’re looking at adding more popular cryptocurrencies in the near future.
Supported Traditional (Fiat) Currencies
Wirex supports the following traditional (i.e., government-issued) currencies:
- GBP (Great British Pound)
- EUR (Euro)
- USD (United States Dollar)
- AUD (Australian Dollar)
- CAD (Canadian Dollar)
- CZK (Czech Koruna)
- HKD (Hong Kong Dollar)
- NZD (New Zealand Dollar)
- JPY (Japanese Yen)
- CHF (Swiss Franc)
- SGD (Singapore Dollar)
- MKN (Macedonian Denar)
- HUF (Hungarian Forint)
- PLN (Polish Złoty)
- RON (Romanian Leu)
- HRK (Croatian Kuna)
You won’t be able to add USD to your Wirex account if you’re not a resident in an EU country.
You also won’t be able to add all of these fiat currencies in every region. These are the ones that are available in Europe.
Ongoing UK Issues
Existing UK residents can top-up your Wirex account by adding GBP with a debit card, or sending over cryptocurrency that you’ve bought elsewhere.
Wirex previously allowed UK residents to deposit GBP via UK bank transfers (via Faster Payments) and EUR via SEPA bank transfers. This functionality was temporarily removed in March 2021. While Wirex has said that it’s a “top priority” to re-add this functionality, we’re still waiting for them to re-enable registrations as of January 2022.
Outside the UK
In the EU, it still seems like you can only add money to your Wirex account with a debit card. Check out this help article for some relevant fees/limits.
Wirex Card Fees
Setting up a Wirex account is FREE and getting a physical card issued and delivered is also FREE. There are also no domestic transaction fees and no loading fees. In a recent update, Wirex also removed the monthly account management fees that you used to be charged.
However, you’ll need to pay up to £29.99 per month to unlock the highest cashback and savings rates. If you stick with a free account, then you’ll be limited to just 0.5% cashback (in-store only).
These are the other Wirex card fees and limits and fees that I picked out:
|Fee or Limit||Charges (UK)||Charges (EEA)|
|ATM charge (Domestic & International)||FREE for up to €400 per month.|
(2% fee on anything above this)
|FREE for up to €400 per month.
(2% fee on anything above this)
|ATM withdrawal limit (Daily)||€250||€500|
|ATM withdrawal limit (Monthly)||€2,000||€5,000|
|Spending limit (Daily)||€2,000||€20,000|
|Spending limit (Monthly)||€10,000||€20,000|
|Credit & debit card top-up||$2,500 per day||$2,500 per day|
|Maximum account balance||UNLIMITED||UNLIMITED|
(All charges are equivalent in your local currency.)
When you use the Wirex card abroad, it’ll also automatically convert to the local currency at the “best possible interbank & over-the-counter (OTC) rates, with no exchange fees”.
Buying Bitcoin With Wirex
Buying Bitcoin (BTC) and other cryptocurrencies using Wirex isn’t as cheap as it used to be.
There’s a hidden fee in the cryptocurrency exchange rate, in addition to a fixed fee of 1% which you’ll pay whenever you exchange cryptocurrencies using Wirex. You can check the rates that they’re selling all supported cryptocurrencies here.
It’s possible to buy and send supported cryptocurrencies on Wirex without ordering a Wirex card too. However, you won’t get full functionality if you don’t get a Wirex card.
Wirex Token (WXT)
Wirex Token (WXT) is a utility token issued by Wirex.
It’s not required whatsoever, but you can upgrade your Wirex account using Wirex Token (WXT) to unlock higher cashback rates.
|Monthly Cost (Approx)||£0||£9.99||£29.99|
This cashback is paid out in Wirex Token (WXT), but the amount of cashback you’re able to get is limited (depending on whether you have a Standard, Premium, or Elite account).
|Max Cashback (Per Month)||1000 WXT||3000 WXT||8000 WXT|
|Max Cashback (Per Transaction)||100 WXT||750 WXT||2000 WXT|
At the time of writing, this means you won’t be able to earn more than about £4 in cashback per month if you’re on a Standard account. That means you’d stop getting cashback if you spent more than around £800 per month using the Wirex card on a Standard account.
If you upgrade to a Premium or Elite Wirex account, you’ll also be able to earn interest on your Wirex Token (WXT) balance. You’ll currently get 4% interest on your WXT balance as a Premium user or 12% if you upgrade to an Elite account.
I think Wirex’s browser interface looks terrible, but it does the job.
Wirex has quite obviously developed the web interface around the mobile. The mobile version works and feels a lot better though.
Coinbase Card is another half-decent crypto debit card available in the UK.
It offers a great user experience, allowing you to spend directly from your cryptocurrency balance.
But the fees suck. Every single time you make a purchase, you’ll be charged a cryptocurrency exchange fee of 2.49%.
Ooof! No thanks.
To find out more, check out my Coinbase Card review.
Another option is the Crypto.com Visa Card.
It offers cashback on all your spending (up to 8%) and some other juicy benefits (like 100% cashback on Spotify, Netflix, and Amazon Prime). It’s currently available in the UK, EU, US, and parts of Asia-Pacific.
Check out my Crypto.com review to learn more.
Summary: Best Bitcoin Debit Card?
It’s obviously disappointing that UK residents haven’t been able to use Wirex for most of 2021.
But for everyone else, what’s there to like about it?
- It’s convenient and beginner-friendly. You get can going in no time at all.
- You can buy and sell Bitcoin (BTC) and more than 40 other supported cryptocurrencies at reasonable rates (about 2.5% in fees).
- Wirex GBP Mastercard debit cards are accepted anywhere a normal Mastercard is (i.e., nearly everywhere).
- Cashback on in-store purchases starts at 0.5%, but you can get up to 2% if you subscribe to their ‘Elite’ plan.
Want to give Wirex a shot?Wirex WebsiteBest Bitcoin Debit Cards
Thanks for reading this Wirex review!
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