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Writer's pictureWirex Academy

Beginner's Guide to the Wirex Ecocystem


Meet Wirex


We’re the banking alternative built for the Web3 generation. With conventional banking channels notorious for high fees, slow transactions and inconvenient access - consumer and corporate demand for alternative forms of payments are growing radically.

 

The world of cryptocurrency can be confusing and complex; Wirex attempts to address these issues by providing a simple, trusted and cost-effective service for transactions in everyday life, whether it's going grocery shopping, exchanging currency for travel or settling up a dinner bill 💸 

 

To reflect the growth of web3, over the past two years, we’ve expanded our product suite  to enable widespread access to DeFi and wealth management.

 

Our Mission


Wirex’s mission is to bridge the gap between conventional and digital currency with an overall goal to usher in a cashless society and the mainstream adoption of the digital economy.  

 

We give customers the power to use their money, their way, on one platform.


  • Buy, store, exchange and spend crypto or traditional currencies, anytime, anywhere.  

  • A must-have money-lifestyle app that adds value to users’ lives  

  • A free solution to slow and costly conventional payment methods  

  • Easily manage your wealth and grow your portfolio

 

We want to make it easier for crypto enthusiasts to access the benefits of DeFi.


  • Democratising access to digital alternative banking services  

  • Committed to promoting the mass adoption of digital currency by making it simple to use in everyday life 

  • Providing transparency, convenience, speed and low fees  

  • Offering regulatory experience and a safe environment in a space often associated with risk


In Numbers


  1. 250+ traditional and digitals available

  2. 6 million+ customers globally 

  3. 20 billion+ transactions processed 

  4. 30 million+ insurance on digital assets 

 

What We’re Famous For 


Contactless Crypto-Enabled Debit Card  

The world’s first contactless payment card that gives users the ability to seamlessly spend digital and traditional currencies at over 80m locations globally

 

Seamless Crypto Transfers

Send and receive transfers to and from crypto wallets across the globe at the best in-market rates

 

Beginner-Friendly App

Store 250+ traditional and digital currencies in one account, accessible 24/7 wherever you are

 

X-tras Rewards

Rewards for the next generation. Three versatile pricing plans, users can unlock up to 16% interest with X-Accounts, and up to 8% Cryptoback™ rewards

 

Easy Account Top-Up

Fund your accounts via multiple on-ramps. Including open banking, bank transfers, credit/debit card or on the blockchain

 

Instant Exchange

Convert money instantly between any of the supported traditional or cryptocurrencies at live interbank and OTC rates

 

Bridge Assets Between Blockchains

Free and instant cross-chain bridge for stablecoins and crypto

 

WXT

Wirex Token (WXT) is the native utility token of the Wirex platform. It enhances the user experience by providing benefits like fee discounts, enhanced rewards, and access to exclusive features

 

X-Accounts

A revolutionary feature designed to maximize your earnings through accruing interest on your account balances, only available in specific countries

 

Wirex Credit

Providing a credit line in stablecoins, based on the cryptocurrency you hold. Unlock the value of your crypto holding without needing to spend them. 

 

Wirex DUO

Providing an investment opportunity to maximize returns through pairing digital currencies. Choose from nearly 100 pairs and align investment with financial goals

 

Wirex Multiply

Providing an innovative crypto wealth product allowing users to capitalise on market volatility.

 

Awards & Accolades


As an innovator and pioneer in our field, it’s unsurprising that we’ve won multiple awards across the globe.  We’ve frequently been recognised for our efforts in widening crypto use cases and improving access to the digital economy. You can view a full list here.

 

Safety & Security 


Security is paramount. Wirex combines resilient anti-fraud technology with practical measures like Strong Customer Authentication (SCA) and sophisticated device authorisation.

 

Here are just some security mesasures we have in place: 


  • 3DS2 biometric enrolment to protect online transactions  

  • Multisig security model on wallets, using access keys stored in multiple locations  

  • Two-factor authentication (2FA) to address the issue of password vulnerability  

  • A dedicated Customer Support team on hand to help with 24/7 in-app live chat  

  • Keep documents and sensitive data for-your-eyes only using TLS and 256-bit AES encryption technology  

  • Assets are insured up to $30 million against external cyber breaches, intentional behaviour and fraud

 

Wirex is also a licensed and regulated platform, complying with regulatory frameworks and actively seek out licensing requirements. We endeavour to lead by example in the sector and apply ‘gold-plated’ standards where regulations don’t exist. Our infrastructure is independently audited and tested on a regular basis, and is PCI DSS Level-1 certified, the highest level possible. 

 

We are also partnered with regulated card issuers, to utilise the Europay Mastercard & Visa (EMV) standard that increases card security. Wirex also employs risk-engine tools to track fraudulent card transactions and unauthorised access, including automated KYC processes.

 

The Team Behind The Scenes


We are based in London with offices in Atlanta, Milan, Wrclow, Kyiv, Lviv, Zagreb, Singapore and Sydney. With expansion into new territories imminent, we expect the number of locations to grow.  

 

The company employs nearly 200 highly-skilled and dedicated staff who deliver new products and upgrades quickly and efficiently to ensure that Wirex continues to provide a world-class product.  

 

Our in-house team also consists of diligent Marketing, Compliance, Finance, Product, Legal, Customer Support and HR staff to ensure that Wirex provides cutting-edge services for our over 6 million users. With such a breadth of knowledge and experience, we strive to position ourselves as thought leaders within our field.  

 

Web3 and Beyond 


To reflect the growth of web3, Wirex has expanded our ecosystem to enable mainstream access to DeFi and wealth management. This includes forging partnerships with Nereus (a derivatives trading platform) and COCA Wallet (the world's first MPC wallet accompanied by a non-custodial debit card). 

 

In 2024, Wirex also announced they are launching a new cutting-edge app-chain, powered by Polygon’s CDK, called Wirex Pay. With a focus on decentralization, security, and user empowerment, Wirex Pay is positioned to lead the way in Web3 payment adoption. They also dabbled in the realm of gaming, launching a successful tap-to-earn mini app on Telegram – Whale by Wirex. 


TLDR; Why Wirex?


The Wirex platform offers a range of benefits for users looking to manage their assets and make transactions conveniently. Here are some key benefits our customers rave about:

  • Diversification ✅ We offer 150+ assets

  • Customer Support ✅ Out team is there for your 24/7 

  • Community ✅ We have an incredible community of 6m+ customers over the world

  • Efficiency ✅ Over $20bn transactions processed with us 

  • Trusted ✅ $30m insurance on digital assets

  • Safe and secure ✅  Our infrastructure is regularly tested and PCI DSS Level 1 compliant, which is the highest level possible

  • Cost Effective ✅ Free account, free free foreign exchange, low fees 

  • Convenient ✅ wide range of on-ramp methods and high limits

 

Disclaimer

The information contained herein has been prepared for informational purposes only, and is not intended to provide, and should not be relied on for financial, legal, or investment advice. Wirex and any of its respective employees and affiliates do not provide financial, legal, or investment advice.


The value of cryptoassets may fluctuate significantly over a short period of time. The volatile and unprecedented fluctuations in price may result in significant losses over a short period of time. Any Cryptoassets may decrease in value or lose all its value due to various factors including discovery of wrongful conduct, market manipulation, change to the nature or properties of the Cryptoasset, governmental or regulatory activity, legislative changes, suspension or cessation of support for a Cryptoassets or other exchanges or service providers, public opinion, or other factors outside of our control. Technical advancements, as well as broader economic and political factors, may cause the value of Cryptoassets to change significantly over a short period of time.

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