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Wirexapp Wallet 0

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Wirex Wallet Overview

Wirex offers a versatile wallet that supports a diverse range of over 50 cryptocurrencies, making it stand out among its competitors. The company was founded in 2014 and boasts a user base of over 1.5 million customers.

Wirex's wallet system does require users to relinquish control of their private keys. However, it ensures the security of personal data through 128-bit encryption. The wallet's functionality extends to facilitating exchanges between fiat currencies and cryptocurrencies, with support for EUR, USD, and GBP.

Key Features

The Wirex wallet incorporates several key features to enhance its utility and security:

  • Multi-signature optionality for added security.
  • Two-factor authentication (2FA) capability, providing an additional layer of account security.
  • While the wallet does not support hierarchical determinism, it offers exchange features for added convenience.
  • It is not open-source, which means a comprehensive assessment of its security is not possible.
  • One standout feature is the ability for users to exchange cryptocurrencies directly within the wallet, eliminating the need for external exchanges.

Availability and Fees

Wirex wallets are accessible through web browsers, Android, and iOS platforms, ensuring convenience across different devices and operating systems.

As for fees, most wallet functions are free, with users only bearing the standard mining fees for transactions. Wirex also operates a linked prepaid card business, which may have associated fees.

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Pros & Cons

  • Supports over 50 cryptocurrencies
  • Facilitates the exchange of supported cryptocurrencies
  • Allows users to exchange between cryptocurrencies and EUR, GBP, and USD
  • Offers a multi-signature option for added security
  • Users can enable two-factor authentication for an extra layer of security
  • Available on web browsers, Android, and iOS
  • Data is 128-bit encrypted for enhanced security
  • Users surrender control of their private keys
  • Not hierarchical deterministic
  • Not open source

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