Wirex is officially rolling out their cryptocurrency payment cards in the United Kingdom, meaning that customers can now use a physical debit card as a means of managing their fiat and crypto funds. Additionally, Wirex has announced their 0.5% CryptoBack rewards programme.
The physical cards, supported by VISA, are currently available to order on their website. To be eligible for one, you must be a verified and registered Wirex customer due to the KYC regulations necessary for Wirex to handle fiat-to-crypto trades. This is important because Wirex allows users to convert between fiat and cryptocurrency on the fly.
Unlike some of its rivals, such as TenX, Wirex offers a fully functional debit card rather than a pre-paid crypto card, meaning that it has all the features and security of a standard debit card issued by a bank. The Wirex card can be used for contactless payments, online card payments, chip and pin purchases, and ATM withdrawals anywhere VISA is accepted.
The Wirex physical card also offers 0.5% CryptoBack on retail purchases. This works in the same way as cashback does on some cards, only instead of receiving fiat, you receive a certain amount of bitcoin. This is a huge incentive for cryptocurrency users and a massive step forward for adoption. Pavel Matveev, CEO of Wirex, said, “We are extremely excited about this addition to our core offerings. The fact that we pay our CryptoBack rewards in Bitcoin means that crypto-curious people can start building up a cryptocurrency portfolio.”
Note that even if you choose not to obtain a physical Wirex card, you can still use their virtual card option on their app for most transactions. The virtual card can be used for contactless payments if you have an NFC compatible phone and can still be used to make crypto trades in a matter of seconds.
The issuance of Wirex’s cards is a significant moment in the history of cryptocurrency – it marks a time where cryptocurrency is made easy to use for everyday purchases. As a society, we may be reaching a time where crypto cards become the norm since their ability to store both fiat and cryptocurrency makes them significantly better than a standard bank-issued card.
Kai is a cryptocurrency copywriter and professional trader. He can often be found investigating various cryptocurrencies, whitepapers, and blockchain technologies. Kai has been a professional writer for 5+ years, and has invested in 50+ different coins and tokens. He also currently studies Law and Philosophy at university.