Wirex Digital Currency Wallet
What is the Wirex Wallet?Wirex is not really a wallet but it represents a new wave of ‘hybrid personal banking platforms’. Recently changing its name from e-Coin Wirex describes itself as a ‘cloud-based online account’ which supports both fiat and crypto currencies.
How does it work?We can confirm, via their quite sharp mobile app, that multiple fiats were on offer (USD,EUR,and GBP among others). We did see some issues with the verification time and noticed anomalies between Android and iOS views.
Wirex and its competitors are attempting to bridge worlds between fiat and digital token and you can see it. There is still some way to go but there are definite signs banking, as we know it, is radically changing.
You get an e-Coin debit card in your denominated currency which can be used just like any other debit card; however there are some important fee considerations which frazzled our tiny little minds.
Wirex will charge you to change your Pin, normal card fees for the fiat portion (Visa/Mastercard) and additional charges for ATM use are all applicable.
In addition there is a monthly ‘SMS notification fee’ and card costs could also be more competitive. The price for a physical card is £15 and £2 for a virtual one for use on the web. Customer support for e-Coin card doesn’t have the best reviews although some improvements can be seen.
Wirex Wallet overview by AltcoiniumIn short Wirex represents an interesting new style of technologies, like having a mini self-contained bank in your phone or computer. Will regulation strip it of any meaningful use. Only time will tell.
Compatible with Web, Android, iOS.
Download the latest version here.