Bitshares 💙 Wirex Debit CardssteemCreated with Sketch.

in bitshares •  3 months ago  (edited)

Bitshares worker to enable BTS On Wirex

There is currently a Bitshares worker, 1.14.183, that will cover costs to make Wirex integrate BTS to their trading platform.

image.png

Wirex is a fast growing company, currently with 2 million users. Plans are to launch in APAC, North America (US and Canada) and Japan later this year, and India and the rest of Asia in 2020. With a platform for VISA debit cards connected to a bank account that you can use anywhere that VISA is accepted will mean that a lot of people will be able to easily transfer cryptocurrency, exchange and add to a card directly without having to withdraw to any bank.

Any relation with Wirex would greatly enhance the availability of BTS for many million of users. The company has a large resume of usability already, and is not short being done on that field.

Wirex boasts the only mobile banking app that combines digital wallets
(9 cryptocurrencies) with multi-currency bank accounts (11 traditional
currencies) that support multiple in/out funding options (crypto transfers,
ACH, SEPA, SWIFT, Faster Payments and debit/credit cards).

Wirex is integrated with 3 exchanges, 3 OTC brokers and 2 FX brokers. At
any point in time, Wirex can provide the best exchange rate regardless of
currency pairing.

They also offer a good deal with what they call "CryptoBack" on card purchases in stores, beginning with 0.5% back on your purchase. Their future plans include for example P2P and cross-border payments, Spending analytics and budgeting, Saving accounts, Crypto-backed loans and Merchants offers.

Recently they also created a utility token that enables large discounts on fees, from 25% up to 100% as well as up to 1.5% CryptoBack on purchases.

Much more can be read in their Whitepaper in English, Chinese or Russian.

Wirex Utility token, WXT

image.png

WXT is a universal fee and reward unit designed to help customers save on fees and access unique rewards:

Up to 100% discount on fees, including: exchange fees, bank transfer fees, withdrawal fees, credit/debit card top-up fees, monthly management fees, ATM fees and SWIFT charges**
Enhanced Cryptoback‌™: up to 1.5% in WXT every time you use your Wirex Visa card in-store.**

Super-charged rewards, including:

  • Free access to Wirex Premium
  • Free Wirex Premium card
  • Exclusive merchant offers
  • Airport lounge access
  • Travel insurance

Bitshares Integration in Phase 2

On May 7:th there was an official announcement that work was underway to make Wirex list BTS. Last month another follow up announced that a down payment was made and that legal paperwork and board approval at Wirex was initiated.

My own Experience

Once the announcement of the worker was made I ordered a card from Wirex, which arrived just about 7 days after. Verification of the account was quick and without problems.

So far I've had no direct problem with them at all. Crypto currency transfers quick and usually only requires 1 confirm. Exchange rates are fair, and with 100,000 WXT utility tokens I receive a nice 50% discount.

Unfortunately there is a larger exchange fee from the EUR in the card balance and my local currency, roughly 3%, that VISA takes out, I don't use the card in stores much, but the few I've done has been quick and without problems. Any online payment that I've done has been flawless so far as well, something I've done much more.

Bank to Bank transfers are very quick and costs nothing. They also have a very good Fiat exchange rate from EUR to my local currency, much better than places like Coinbase has, which I've used for the last year.

My own experience is that Wirex does a good job, and has a potential bright future. They are in the middle of a very expansive phase, which probably surprised them a little. Support is not as quick as you may wish. Standard issues can be quick to just a few hours, while specific issues and questions can take up to a few days or more.

With Bitshares enabled on Wirex we will be able to see quick transfers of funds to and from this very good exchange and card payment platform. So far I see only benefits to having Bitshares added to Wirex.

Are you ready, got your Wirex card yet?

Authors get paid when people like you upvote their post.
If you enjoyed what you read here, create your account today and start earning FREE STEEM!
Sort Order:  
  ·  3 months ago (edited)

Great project for the bitshares ecosystem.
I've just received my card a week ago. Around 2% transaction fee is more than I would like to see, still, they offer quick fiat-crypto gateway.
P.S. I was late for WXT presale, though!

Congratulations @sc-steemit! You have completed the following achievement on the Steem blockchain and have been rewarded with new badge(s) :

You distributed more than 30000 upvotes. Your next target is to reach 31000 upvotes.

You can view your badges on your Steem Board and compare to others on the Steem Ranking
If you no longer want to receive notifications, reply to this comment with the word STOP

You can upvote this notification to help all Steem users. Learn how here!

Great news in regards of BitShares @sc-steemit! To add a little user feedback: I wouldn't recommend Wirex proactively yet since their card worked well for some days, but when I moved funds over to utilize it fully step by step for credit card payments and to invest in their token presale they froze my account due to "security issues". Terrible random "support" - but at least quick 😅 Nevertheless I still can't access my funds since about a week, nor does the service really help in any way. So I have to give a decent warning.
But great to hear that it all went smoove for you. Was also my 1st experience. So I'd like to revoke my warning hopefully one day soon. Until then I have to say "works for some, but not for all" - just my 2 cents 💩

Posted using Partiko Android