WIREX (WXT) utility token: What? Where? Why?

Right now I’m picking up some WXT from KuCoin crypto exchange where it’s just been listed.

Luckily I’m already a member of this exchange and a Wirex card user, and I recommend both cryptos.
[In fact, KCS exchange token (the KuCoin Shares token) is another on my long-HODL portfolio I’ve covered before. Note: using my referral links may give you some kind of benefits, I can’t recall exactly, but you’re welcome!)

As I mentioned, I have a Wirex VISA payment card which acts as great crypto top-up in case of special trips or something. The app is also as simple and easy. It’s pretty cool being able to send crypto to it, and then exchange it for euros etc. right before or after I’ve entered a shop, via the mobile app. I can also control my cards easily and get rewards in crypto for using it.

Wirex is a UK fintech like Revolut that has been bringing crypto and traditional banking closer together. I love their forward thinking and the whole token thing feels pretty respectable and beneficial. They want to encourage adoption and this token feeds into that ethos.

WXT ?

WXT is a token on the Stellar blockchain. Stellar lumens is another crypto available to hodl on the Wirex mobile app up to the last minute.The Wirex WXT pre-sale etc has all proven really popular, and had even to be re-structured as a result.

So what will it do?

This crypto will entitle card-holders to benefits in the Wirex app such as:

• discounts on fees and charges on the platform, which means you can avoid bank transfer fees, withdrawal fees, fees for using an ATM or for topping up their accounts, and monthly management fees.
• take advantage of Wirex’s ‘Cryptoback’ allowing earning of crypto for spending money, and money back from using their Wirex Visa card.
• ‘Super-charged rewards, including: Free access to Wirex Premium, Free Wirex Premium card, Exclusive merchant offers, Airport lounge access, Travel insurance.’

See the Wirex WXT page for more.

See current price info on Coingecko… 

HODL or… sell?

Indeed, it’s another one to add to the Ade’s Press Long-HODL Portfolio, of which others are being added, including upcoming Bitpanda’s BEST token.

I may actually benefit from the purchase in the long-term, if I can resist selling back in to BTC should it hike significantly.I already have a small number of WXT tokens in my Wirex app, from the pre-sale or whatever, however I can’t sell them for another 6 months.

Note: ‘If you bought WXT both during the pre-sale and afterwards, your WXT account will display two separate balances: one for your locked tokens and one for tokens that you can use now.’ (source: Wirex)

Wirex is working hard to evolve and will surely catch developments and compete with other crypto-savvy card-bearing companies as features appear and evolve. Have you got any thoughts on this token? 

Please share your ideas below, or at Ade's Crypto Press... 

July 2019

Disclaimer: not professional financial advice just personal opinion. Invest at your own risk. Always do your own research.