Wirex the crypto credit card and start winning tokens on Wirex app

Kumosoukai
3 min readJul 7, 2019

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After getting the word out last month when they announced the launch of 26 stable corners, Wirex, the platform offering bank cards linked to cryptocurrencies accounts, has just announced the launch of its own token called Wirex Token, symbolized by WXT.

Wirex in brief

Wirex is a platform that offers 3 main services:

  • The purchase of cryptocurrencies from its own OTC exchange integrated on the platform.
  • The storage of cryptocurrencies from portfolios present on the Wirex application.
  • The cost of cryptocurrencies from debit cards directly issued by the company.

To take advantage of all these services, simply register using the following link: Wirex

Wirex has a database of 2 million customers worldwide and is available in more than 200 countries.

ICO Wirex? When? When? How? How? Where? Where?

The Wirex ICO is divided into two steps:

A private sale that will run directly on the Wirex application from 13 June 2019 09H00 UTC. The issue price of tokens is USD 0.01 per unit. All tokens purchased during the private sale are subject to a 6-month escrow period, meaning that it will not be possible to sell them or move them to another address at the time of purchase. Only 2% of the total quantity of WXT tokens will be offered for sale during the private sale.
An IEO that will take place on the Okex exchange platform on June 26, 2019. The issue price of the tokens on the latter will also be 1 US cent per unit. However, the latter will not be subject to an escrow period. Only 1% of the total quantity of WXT tokens will be offered for sale at the IEO.

The usefulness of the Wirex token

Currently, in Europe, the fees on the Wirex platform are:

1.20€ per month for account maintenance.
1% for the purchase of cryptocurrencies from a credit card of another operator.
12€ per SWIFT transfer — only for transfers to another account, there is no charge for transfers from a Wirex account.
1–2% of the total amount of the conversion for each conversion from cryptocurrencies to euros or from euros to cryptocurrencies.
Other costs related to the use of cryptocurrencies, in particular, those related to the payment of minors during a transaction from one cryptocurrencies address to another.
Thanks to the WXT token, users will be able to benefit from a reduction of these fees of up to 100% depending on the amount of WXT held in their portfolio:

  • For 50,000 WXT owned, the user benefits from a 25% discount on the above-mentioned fees.
  • For every 100,000 WXT owned, the user receives a 25% discount on the above-mentioned fees.
  • For 500,000 WXT owned, the user benefits from a 25% discount on the above-mentioned fees.

Also, it should be noted that spending with the Wirex debit card allows you to benefit from 0.5% cashback, the latter can amount to up to 1.5% depending on the amount of WXT held in your portfolio:

For every 50,000 WXT owned, the user receives 0.75% cashback.
For every 100,000 WXT owned, the user receives 1.00% cashback.
For 500 000 WXT owned, the user benefits from 1.50% cashback.
The advantages concerning SWIFT transfers, maintenance fees, and cashback will only be available from September 2019. As for the other advantages, they will be available from the beginning of the private sale.

Finally, the Wirex team obviously intends to add several other advantages for WXT holders.

The tokenomic
The total quantity of Wirex tokens is 100 billion. The token will be emitted on the Stellar blockchain. The distribution of tokens will be as follows:

Anyway, come and join me at Wirex with the following link: The wirexapp

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Kumosoukai
Kumosoukai

Written by Kumosoukai

Blockchain Believer — Crypto Scientist

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