Welcome to our Wirex news page. Here you'll find some of our featured Wirex Bitcoin content pieces as well as all our latest Wirex Crypto App posts.
Wirex Bitcoin Debit Card Opens New Cryptoback Rewards Program
Wirex Announces its Exclusive Cryptoback Program
If you wanted to have a Wirex bitcoin debit card, the waiting is over. In a news piece uploaded by Wirex on May the 8th, they announced that they will be delivering their debit cards in Europe in the next days (delivery in the UK has already began).
“No more waiting lists. No more delays. No more ‘when are cards available?!’ Delivery in the UK begins today and card orders for the rest of Europe begin next week. We’ve revamped, rejuvenated and rejigged our offering and brought it back stronger and better than ever,” reads the news piece released by Wirex.
Full List Of Wirex's Announcements
Contactless Bitcoin Debit Cards
The company will bring a new Bitcoin debit card to the market that will have some interesting features. The first one is that the new card will be contactless, trying to make the payment process as wireless as possible.
Debit Not Pre-Paid
The second announcement is that it is a debit card and not a pre-paid one. Individuals will get an account number and sort code. In this way, they will be able to spend the money they have in the account with the card.
The third important feature is that it can be used everywhere around the world where Visa is accepted. There are more than million shops and stores where to buy using Visa cards. At the same time, users can quickly exchange between currencies (USD, GBP, and EUR), depending where they are.
Moreover, they will be improving their security features. Secure payments, the company says, are standard. Wirex has upped the advanced in-app security with chip & pin as an alternative payment verification method and the ability to block and unblock the card from the application.
Cryptoback Rewards Program
Finally, one of the most exciting things that Wirex is announcing, is the exclusive Cryptoback program. For every single in-store purchase that users make, they will receive 0.5% back (redeemable in Bitcoin).
So what’s new? Loads, but we’re most excited to introduce Wirex’s new #CryptoBack feature 🎉 Look out for more details on this soon!
— Wirex (@wirexapp) May 9, 2018
The company wrote:
“The Wirex card is the perfect addition to our ever-evolving personal finance platform. Plus, (for a limited time) it’s 100% FREE to order. No cost for the card and no delivery charge either. It’s our way of saying Thank You to the community for your patience and understanding over the past few months as our business and development teams have worked their socks off to rebuild the Wirex platform for the future.”
Canada Welcomes Wirex Crypto App For Bitcoin, Litecoin, XRP And Ethereum Exchanging
Wirex Announces New Operations in Canada After Registering in the Country
Wirex will be expanding in a new market after it was awarded a Fintrac and Money Service Business registration in Canada. The information has been released by the company in a blog post on September 14.
The company allows users to use cryptocurrencies to pay for purchases made through traditional currency accounts and contactless Wirex Visa cards. An important and interesting feature of the company is that it offers a rewards programme that allows cardholders to receive 0.5% back in Bitcoin every time the purchase something.
According to Wirex, Canada leads the way in Ethereum blockchain technology. This may be related to the fact that Vitalik Buterin lived in the country. However, in terms of general blockchain adoption the United States and the United Kingdom are ahead in the market.
Moreover, Canada is a great place for cryptocurrency miners. The country produces an important amount of electricity that can be sold to other countries such as the United States. This is another reason why there are several miners located in this nation.
The report explains that Canada has over 600 different Bitcoin ATMs in the country. That means that is the second country after the United States in terms of the number of Bitcoin ATMs available.
Furthermore, according to the Ontario Securities Commission, 5% of Ontarians own at least a cryptocurrency. The Bank of Canada found that 5% of all Canadians own Bitcoin, a number that is almost two times bigger than in 2016.
Wirex was now awarded a Fintrac and Money Services Business registration to operate in the country.
The press release informing that reads as follows:
“Users in Canada can already take advantage of our secure Bitcoin, Litecoin, XRP and Ethereum wallets, low fees and fantastic exchange rates. Next up? Traditional currency accounts and contactless Wirex Visa cards that allow you to convert and spend your crypto like traditional currency, in shops, restaurants, bars and online.”
Canada has also approved a regulation for a Bitcoin Fund. This is the first and only regulated Bitcoin Trust that has been eligible for accredited investors, which will now gain exposure to the cryptocurrency market without having to worry about managing and storing the assets.
Ripple Continues To Expand As XRP Coin Looks To Coinbase, Changelly And Wirex Adoption
Ripple has been doing incredibly well this year, and recent additions of the XRP token into different platforms have been pushing the token into improved adoption in the financial industry. After announcements came of xRapid’s Testnet and usage from other Ripple Network banks, Coinbase followed with their own news – they had been approved for operating as a limited trust company.
Though this news seems like it is just a good thing for Coinbase alone, it affects Ripple and XRP as well. A DEF-approved subsidiary will support XRP via Coinbase, due to the new approval from the New York State Department of Financial Services.
Even though there are rumors that XRP was recently denied for a listing on Coinbase, it seems that the new DEF support could make it possible. The rumors never seemed to have any substance, considering that neither side ever confirmed the denial. However, the fact that Ripple is receiving support from Coinbase via the subsidiary, Coinbase Custody TrustCompany LLC, has been confirmed. XRP will have the option of using custodial services, but there will not be an option for purchase right now.
The subsidiary supplies the necessary support for every currency on Coinbase, even for XRP, despite having no listing. There is no information about if ZRX has support from the Coinbase Custody Trust Company, but rumors suggest that the support for XRP could be indicative of an upcoming listing.
Wirex, a service that provides crypto-based debit cards, will be bringing services to the States too, which means that XRP tokens will soon have the ability to be spent via debit card, offering even further adoption. Wirex already offers Ripple Labs support, allowing for three USD pairings – Bitcoin, Litecoin, and Ethereum. Experts believe that the transition to the US will cause more demand from the public to have Wirex support the XRP token as well.
Changelly is also major part of the adoption XRP is experiencing. They are in a partnership with SimplexCC, letting users switch both USD and EUR into XRP, pushing Ripple into even better momentum. The most important aspect of Changelly, at least for Ripple, is the use of both VISA and Mastercard with the service, promoting adoption of the entire cryptocurrency world. With 3.5 million active users, this could be the push that Ripple needs to see how far their token can truly go. The only disadvantage to the service seems to be the high fees, which can be at least 5% of the transfer.
Regardless of how much adoption is improved through the help of these three entities, XRP is expected to become more appreciated, despite the bearish market surrounding it. Custodial support with Coinbase Custody TrustCompany, Wirex’s services, Changelly, and even SimplexCC makes XRP a coin to watch.
At the time of this report, Ripple’s XRP is currently trading at $0.457353, and has gone down 0.35% in the last 24 hours.
Wirex Launches Iban Support for All EUR Cryptocurrency Card Accounts
It became significantly easier to spend crypto in Europe today today after Wirex launched Iban support for all EUR crypto card accounts. The cryptocurrency debit card provider just introduced Iban support for users in the European Economic Area (EEA).
That means crypto users in the EEA can now fund their accounts with normal bank transfer. You can deposit Euros into your Wirex account as easily as you would typically move money around. Your Wirex account now has an Iban number. Thanks to Iban support, Wirex users can even have their salaries deposited directly into their accounts.
The UK-based fintech startup rolled out Iban support across Europe after quietly launching a pilot program in four European countries over the last two months. Certain Wirex users in Spain and France received Iban support in September, for example, and users in Italy and Germany received Iban numbers last month. UK-registered accounts were the first to receive Iban numbers earlier this year.
Wirex has also raised funding limits for account holders in the EEA. Today, users can fund accounts with a maximum of $20,000 USD, €16,000 EUR, or £15,000 GBP.
The Iban system, or international bank account number system, is a bank account management system used across the European Economic Area. Each bank account has a unique Iban represented by 34 alphanumeric characters. The Iban account ID includes the country code, branch number, branch identifier, and routing information, along with two check digits to reduce the risk of errors.
Meanwhile, Wirex has grown to become one of Europe’s leading crypto platforms. Last year, European crypto debit card providers were thrown into disarray when Visa suspended crypto debit card payments on its network. Wirex, however, rolled with the punches and re-introduced crypto debit cards earlier this year.
Today, Wirex users can easily spend several major cryptocurrencies, including bitcoin (BTC), Litecoin (LTC), Ethereum (ETH), and Ripple (XRP). You can use your Wirex card online and in-store wherever Visa cards are accepted. When you spend your Wirex card, your cryptocurrency is automatically converted into the British Pound, Euro, or US Dollar, with Wirex supporting all three currencies.
You can spend your Wirex funds using a physical debit card or digital card.
Will Wirex Expand To North America?
While European cryptocurrency users enjoy ease-of-use when spending cryptocurrencies, crypto users in North America don’t have the same privileges. That may change in the future, with Wirex planning to expand to North American markets soon.
This past August, Wirex was granted a Fintrac and Money Services Business registration by Canadian regulators. Canadian users, meanwhile, can already setup and use Wirex cryptocurrency wallets. The next step is to link Canadian fiat currency accounts with Wirex and then start issuing contactless crypto debit cards.
American users, meanwhile, may have to wait slightly longer. Wirex just announced that it was searching for American beta testers to trial the onboarding process.
“We’ll seen be testing our market-leading offering on American soil for the first time. We’d like to know your thoughts – what you like, what you don’t like and if you detect any bugs that may need our attention before the launch.”
Residents of seven states have been invited to the trial, including registered Wirex users in Alaska, Nevada, Virginia, Massachusetts, Tennessee, Louisiana, and Montana.
There’s no word, however, on when Wirex could roll out a debit card to American users or expand its services across America. Nevertheless, Wirex seems committed to becoming the leader in crypto-based payments from Europe to North America.
It’s now easier than ever for European Wirex users to integrate Wirex with their daily banking services – and that’s good news for future crypto adoption.
XRP Coin Price Surges Past $0.50 on Twitter Suggestion of Ripple Entering Apple Pay via Wirex
On Monday, the XRP token from Ripple experienced a surge in its price, bringing it over the $0.50-mark. Though theories bounced around the community for a while, it soon became clear that this increase was most likely due to a post on Twitter.
Wirex posted that they would be releasing their prepaid cards within the United States soon, which would let the US users “instantly buy and convert” multiple tokens into USD. Among the tokens listed were BTC, LTC, ETH, and XRP. When one user asked Wirex if these tokens would end up working on Apple Pay, Wirex replied, “We’re working on it!”
The suggestion of being able to use Ripple’s XRP tokens for Apple Pay would be important for the platform and for the numerous users in its database. With a few hours of the post, XRP went from $0.46 to over $0.50, but the difficult part became keeping that position. Though the concept of using XRP on Apple Pay is still in progress, the community saw this response as a confirmation.
Unfortunately, even with the immense support from its own community, skeptics seem to attack Ripple and XRP at every corner. XRP has a proclivity for these brief pumps in price, only returning back to the former level when the heat wears off. Still, considering the constant presence that XRP and Ripple have in social media, the community holds the power to push the token beyond its current level.
In the early hours of November 6th (Tuesday), XRP was holding its ground at spot #2 with CoinMarketCap. However, as of 11:51am PST, XRP is back down to #3, as it usually is. However, it has maintained the price above the $0.50 level, presently trading at $0.526409, which is 9.08% higher than 24 hours ago.
It is possible that the surge in trading with Ethereum was simply delayed after the Twitter post, considering the support and activity surrounding the XRP community. The market cap between the two coins is less than $1 billion, so the XRP community still has time to rally.