Wirex Account Introduction
Are you wanting a new cryptocurrency trading platform to boost your passive income returns? Wirex is now offering an opportunity to invest your cryptocurrency into an X account. This enables you to start earning higher returns on your investment. For instance, you can get up to a 16% return on funds that are invested in the X-Account. Switch between crypto and your traditional currency for up to a 3% saving on the funds exchanged. You can easily transfer funds to friends without the need for their wallet or account details. I have outlined below some of the pros and cons of investing with Wirex:
Pros
- Multicurrency spending
- 2% crypto rewards on in store and online shopping
- Instant fee free foreign exchange
- Quick funds transfers to friends
Cons
- Fees to transfer funds from AUD into account 1.6% approximately
- Less features ‘earn and learn’ than other cryptocurrency trading platforms
The Multicurrency Wirex Travel Card is a perfect way to spend when planning a cheap holiday. You can spend both fiat and cryptocurrency wherever a Visa card is accepted globally. Secondly, you can receive real-time conversion rates on your money at the point of sale providing you with instant crypto rewards on your spending. You would already be aware of cashback options when spending. Now with a Wirex card, you can get a cryptoback on your spending.
How to add funds to the Wirex App?
In order to start earning a passive income on your cryptocurrency, you need to first learn how to att funds. You will need to link your debit card to the app. The Wirex account will have a limit on deposits and withdrawals when transferring funds. In order to increase the limit, you will be required to verify your bank account. This can be done via the 4 digit code that is contained in the transaction detail when making a transfer into the account. Once you have verified your account you can then deposit the amount you would like into the account.
Purchasing Cryptocurrency on the platform
I decided to first deposit fiat AUD into the account in order to purchase some Bitcoin. This was a relatively straightforward process however there was about a 1.6% transaction fee when making the initial transfer of AUD into the Wallet. Once I had acquired the Bitcoin I could then set up an X account to start earning some interest. After setting up the account I transferred the Bitcoin crypto into the 10% variable annual equivalent rate (AER). You can even earn up to 16% AER when transferring AUD into the X-Account. You can also use a Wirex card to acquire crypto and earn a 2% crypto back. This is perfect for those wanting to get a reward for spending on the card.
Wirex Account Summary
Whether you choose to open an account be sure to check all the fees and costs associated with purchasing and spending money with Wirex. There is the advantage of earning crypto back on your spending with the Wirex card. You can also earn interest on your cryptocurrency when storing it in the X-account. For the full terms and conditions access the Wirex website. If you would like to sign up and earn US$20 in WXT then follow the link here to sign up with Wirex. If you would like to compare Wirex with other cryptocurrency trading platforms such as Coinstash or Binance, have a read of the following Top 10 Cryptocurrency Platforms.
