In January 2018, major card companies abruptly stopped supporting bitcoin transactions via prepaid cards. Now, Wirex is introducing a multi-currency debit card that allows users to carry out bitcoin transactions from anywhere around the globe seamlessly.
The Wirex Solution
Wirex, one of the world’s most popular cryptocurrency wallet providers has announced the launch of the first-ever multi-currency accounts.
The new multi-currency accounts allow cryptocurrency holders to quickly exchange between fiat and cryptocurrencies as well as enabling users to spend their virtual currencies using highly functional contactless debit cards.
Presently, Wirex is the only company in Europe to allow spending in cash, converted from bitcoin.
That’s not all; Wirex has now taken another giant leap in the right direction by integrating its debit cards in Sterling, Euro, and American dollar accounts.
With the new Wirex payment solutions, holders of blockchain money now have a better option than using the snail-paced and cumbersome cryptocurrency exchanges.
The Key Benefits of Having a Wirex Account and Debit Card
As per the Wirex team, the newly integrated account offers the flexibility of traditional financial services such as bank-to-bank transfers, but with the added benefit of bitcoin functionality.
The CEO of Wirex, Pavel Matveev, expressed his excitement over the successful launch of the payment solution. He said:
“Wirex is the only provider in Europe right now to offer crypto, converted into fiat for everyday spending on cards. The transactions in stores, buying goods online or withdrawing money from ATMs just got much easier. We are the first to bring such cards to the world, and now we’re the first to bring converted cryptocurrency accounts with new contactless debit cards.”
Wirex cards automatically convert cryptocurrency to fiat before it gets loaded. All customers are who have a Wirex multi-currency account will receive free contactless debit cards. The cards are fortified with 3D secure support for highly secure online transactions.
The accounts on offer are highly functional and secure. Since the company started its operations years ago, there have been no reported hacks. Further, the service is expected to go live in the UK and the greater EU by the end of March.
While the new debit card is a product of good thinking in itself, it remains to be seen whether the product will be of benefit to consumers regarding fees.
Also, will the Wirex bitcoin debit card be able to withstand the same forces that crushed others? Only time will tell.