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Author Topic: New Crypto-Friendly Bank Accounts (From Wirex).  (Read 196 times)
Wirex
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January 31, 2018, 04:17:14 PM
 #1

Imagine…

A hybrid personal finance platform that bridges old world banking and new world crypto.

A solution that actually works in favour of Cryptocurrency mass adoption while many of us still depend in various ways on traditional FIAT money…

Yes, it includes REAL bank accounts... REAL debit cards (not prepaid cards)... AND multi-currency crypto wallets

— unified on one platform, manageable via desktop or mobile.

But why?

When the principle of Satoshi’s original post was against the credit bubbles and control of centralised banking:
https://imgur.com/a/udm3a

Centralised vs Decentralised:

Andreas Antonopoulos recently described a necessary return to centralised banking services using cross-chain payment rails to ensure crypto payments are kept low, while bitcoin itself serves as a storage of value. Making each individual their own ‘central bank’ in control of their own financial wellbeing and mastery, while tapping in to various global services as desired.

Giving people the ability to choose the level of privacy, autonomy, and access they want based on their own unique situation, and the current stage of global blockchain adoption.

(One example of Andreas discussing off-chain banking is at at 18:20 on https://www.youtube.com/watch?time_continue=2&v=AecPrwqjbGw)

And Wirex is working hard to deliver on that vision of hybrid crypto-friendly banking services that position each individual as their own ‘central bank’.

Just a fantasy?

No, just a matter of time as blockchain projects develop over the next few years.

We believe crypto-friendly banking serves the 2018 market to encourage mass adoption.

Today, we’re excited to announce early details of an entirely new fully-integrated crypto finance solution that will be available in Q1:

Receive salary or any payments direct to your Wirex account

Exchange fiat into bitcoin (and top altcoins) at any time. High volume limits. No waiting time for bank transfers. No extra bank transfer fee

Cash out of crypto anytime to make fiat payments easier than ever before (starting with GBP UK bank transfers, international (IBAN) transfers, ATM withdrawal, or shop with Visa. EUR bank accounts with SEPA transfer, and other currency accounts to be added later)

The old approach used by crypto-card providers until today required a complex web of suppliers and integration partners:

https://imgur.com/a/XMXQf

Wirex has now simplified the ecosystem by building on top of the W-PAY blockchain platform developed for our business partners and liquidity providers:

https://imgur.com/a/Q3dsi

We fully understand that this solution is not built for everyone here as many of you are very well versed in the world of cryptos and know how to store and spend your crypto like a pro.

However, many others in the community share our belief in achieving mass adoption of cryptos.

In our minds, the best way to help implement mass adoption is to make navigating through the crypto space as user friendly as possible and we believe the best way to do this is to become the first global hybrid banking solution in support of cryptos.

Is this another ICO?

Thankfully no. Debit card and crypto banking ICOs have been done way too much recently.

As the very first bitcoin debit card and mobile app provider, building the systems and infrastructure for regulatory compliance and scalability has not been easy. Then our main card issuer had to restrict card accounts only to EU countries. Thousands of our customers around the world left without the convenience of our bitcoin-fundable debit card.

We had only just re-issued tens of thousands of cards at our expense due to a required change from MasterCard to VISA when new restrictions of EU-only were given to us. With new licensing agreements still in process we could no longer serve the majority of our cherished customers around the world — many who’ve been with us since the beginning!

Including noteable influencers in their own areas like Jeff Berwick (The Dollar Vigilante), Tijo (Arcane Bear), and more. Others who would prefer to remain anonymous. Due to new compliance, we can’t even call our old product a ‘bitcoin debit card’ as technically the card does not hold bitcoin, it holds fiat.

These same challenges are also being faced by our competitors, both the new ICO startups and the older copycat projects.

Today we believe we have achieved another industry first and important contribution to the community with the launch of a new Wirex Bank Account service, including Virtual Cards, and contactless plastic cards coming soon. Old style prepaid payment cards funded by bitcoin exchange is old technology.

We believe mainstream adoption of cryptocurrencies begins in a big way by mid-2018. And we appreciate all of the support as well as the pushback and challenge from the super-intelligent and committed crypto community. As investors, consumers, service providers and enthusiasts, we are witness to the paradigm shift from old fiat banking systems to a new world of blockchain tech.

Zero-Fee Bitcoin Transfers:

Off-chain transfers between customer accounts allows us to drop blockchain fees to zero for you and any friends, family or contacts who use a Wirex account. Our off-chain Segwit bitcoin addresses give the best of both worlds.

Private Keys:

Of course, we recommend holding your own private keys for your main store of crypto. We recommend running your own node and keeping all 150 gigs of the blockchain stored on a hard drive, or using something like a Nano Ledger hardware wallet. Only keep crypto on an exchange or 3rd party wallet account because you are either trading it, spending it, or sending it (as noted above: Wirex off-chain SegWit enabled wallet allows customer to customer transfers at zero blockchain fee).

Practical Crypto-Friendly Banking For Today’s Market:

Wirex is focused on providing the most practical crypto-friendly banking features for everyday life. This means our products can be understood and used by people who are new to cryptocurrency. The passion at the Wirex office is all about bringing bitcoin to the mainstream. We want blockchain innovation to thrive. And hopefully you’ll enjoy the new bank account facilities too.

The new Wirex Account combines the familiarity of real banking services with the extra solutions and opportunities of multiple cryptocurrency wallets.

Multi-Crypto Wallets:

New wallets will be integrated. Dash and Litecoin first. Then others. As fast as we can.

Combined on one single seamless platform, you can now open a crypto friendly bank account and benefit from our real debit cards with no top up fees.

Support from the crypto community helps us reach the masses who are brand new to bitcoin with new educational programs and practical crypto financial management.

But we're not here to make a quick $30 million from ICO. We’re here to build a comprehensive blockchain finance platform for all. We're here for the 1,000,000 customer registrations who have used our old bitcoin wallet and debit card services over the past few years. Many who were put off due to compliance issues beyond our control, but issues that we take to heart and feel a lot of empathy for. Remember, we are crypto enthusiasts too and want to enjoy the same products that you do!

Mainstream adoption means higher cryptocurrency prices (BTD and HODL), greater innovations, lower cost services, better digital asset management, and who knows… we may find opportunity to do a worthwhile ICO in the future for something bigger and better than just crypto cards.

Join the Bank Account waitlist today and you’ll be front-of-line when we get final approval to open accounts from the compliance and developer departments.

https://wirexapp.com/wirex-bank-accounts-almost/

From The Community Manager, Raphael Shalaby.

Please let us know if a service like this would appeal to you? let us know your thoughts

Wirex — crypto-friendly currency accounts, VISA debit cards, bitcoin wallet, and now PCI DSS certified.
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January 31, 2018, 05:57:58 PM
 #2

I am on the waiting list. I picked up this news when a community manager shared it with me on Twitter some days ago. It will be a very good service for who need cryptocurrency banking services. Do you have an idea when it will be fully operational approximatively?
True that  Debit card & banking ICOs have gone way too much recently, we need to see solutions that won't go to the graveyard after some months.

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February 05, 2018, 05:38:39 PM
 #3

Hi Legaulois. We aim to launch within the next couple weeks and plan to make an announcement about it very soon. We appreciate your understanding to why we wont be launching an ICO. We look foreward to providing you with a crypto-friendly banking service very soon.

Wirex — crypto-friendly currency accounts, VISA debit cards, bitcoin wallet, and now PCI DSS certified.
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February 05, 2018, 08:00:23 PM
 #4

Hi Legaulois. We aim to launch within the next couple weeks and plan to make an announcement about it very soon. We appreciate your understanding to why we wont be launching an ICO. We look foreward to providing you with a crypto-friendly banking service very soon.
Which countries are/will be restricted from opening a bank account? i would appreciate if you could share a list of countries you won't be serving(i hope my country isn't one of them). i'm very much interested in opening a crypto-friendly bank account.  Smiley
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February 06, 2018, 09:03:33 AM
 #5

So, with this Crypto-friendly bank, is it possible to create a new Virtual Bitcoin Debit Card outside EU Residence?
Honestly, the only reason why I used Wirex in the first place is because your Virtual Debit Card and its high limit, even for unverified customers.
Since the whole Wavecrest incident, I'm still looking for alternatives.

Anyway, I'm excited for the launch details Smiley
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February 06, 2018, 09:20:22 AM
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Hi Legaulois. We aim to launch within the next couple weeks and plan to make an announcement about it very soon. We appreciate your understanding to why we wont be launching an ICO. We look foreward to providing you with a crypto-friendly banking service very soon.
Which countries are/will be restricted from opening a bank account? i would appreciate if you could share a list of countries you won't be serving(i hope my country isn't one of them). i'm very much interested in opening a crypto-friendly bank account.  Smiley
'available to dozens of countries around the world'

That's a really low percentage of countries that it'll actually serve compared to the total amonut of countries that are in existence. So I really think that it is proabbly just going to be restricted to the EU, and I doubt that it's going to come to the US.

The idea is great, but what we really need is this, except to all countries. Which I know isn't going to happen due to regulations, but people will read your advertisement and be really pumped, before realising that the country restrictions apply to them.

Good luck with this though, and I've seen Wirex improve their service over the past few months which I appreciate.

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February 06, 2018, 03:11:25 PM
 #7

So, with this Crypto-friendly bank, is it possible to create a new Virtual Bitcoin Debit Card outside EU Residence?
Honestly, the only reason why I used Wirex in the first place is because your Virtual Debit Card and its high limit, even for unverified customers.
Since the whole Wavecrest incident, I'm still looking for alternatives.

Anyway, I'm excited for the launch details Smiley

Hi teddy5145,
Whilst the first Wirex bank account available will be based in the UK, we are planning launches for our services to more countries later this year. We appreciate your support and understanding of the situation (and we are excited to share the details with you too)!

Wirex — crypto-friendly currency accounts, VISA debit cards, bitcoin wallet, and now PCI DSS certified.
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February 06, 2018, 07:21:42 PM
 #8

I've joined waitlist .
For me virtual card is enough at begining
I hope exchange fee will be not to high
But if you will be licenced by FCA exchange fee will be similar to other uk online wallets
And i hope service will be available rom day one to eu citzens
Thanks for your effort
Further ico can be worth of considaration with working mvp and customers databese you can be succesfoul



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Wirex
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February 07, 2018, 03:11:09 PM
 #9

I've joined waitlist .
For me virtual card is enough at begining
I hope exchange fee will be not to high
But if you will be licenced by FCA exchange fee will be similar to other uk online wallets
And i hope service will be available rom day one to eu citzens
Thanks for your effort
Further ico can be worth of considaration with working mvp and customers databese you can be succesfoul



Hi Pab,
Thank you for registering your interest.
We will continue to do our best to ensure that our exchange rates will remain as some of the most competitive you can find in the UK while continuing to simplify the use of bitcoin whilst still working in compliance with British Laws.
After we re-launch in the UK, We hope to launch our services in the EU soon after.
 
If you want to know more information about our upcoming banking service, please visit:
https://wirexapp.com/wirex-bank-accounts-almost/

If you have any more questions you want to ask, please don't hesitate to send us a message Smiley

Wirex — crypto-friendly currency accounts, VISA debit cards, bitcoin wallet, and now PCI DSS certified.
Pab
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February 07, 2018, 04:36:08 PM
 #10

I've joined waitlist .
For me virtual card is enough at begining
I hope exchange fee will be not to high
But if you will be licenced by FCA exchange fee will be similar to other uk online wallets
And i hope service will be available rom day one to eu citzens
Thanks for your effort
Further ico can be worth of considaration with working mvp and customers databese you can be succesfoul



Hi Pab,
Thank you for registering your interest.
We will continue to do our best to ensure that our exchange rates will remain as some of the most competitive you can find in the UK while continuing to simplify the use of bitcoin whilst still working in compliance with British Laws.
After we re-launch in the UK, We hope to launch our services in the EU soon after.
 
If you want to know more information about our upcoming banking service, please visit:
https://wirexapp.com/wirex-bank-accounts-almost/

If you have any more questions you want to ask, please don't hesitate to send us a message Smiley

Thanks UK is supporting blockchain and digital currency movement.Brexit is ok becouse UK will be outside of   over regulated EU but UK will be still in Europe.FCA is best possible scrutinity

Thanks one time again i am gonig to wait


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Whitepaper   ■   Bounty   ■   Bitcointalk

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Telegram   ■   Facebook   ■   Twitter   ■   Medium   ■   Reddit   ■   LinkedIn
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mobnepal
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February 07, 2018, 05:20:45 PM
 #11

I am from one of the Asian country and hope your virtual card and bank account feature will be available to every crypto enthusiast around the world. All of my old crypto based card are now worthless just because I am not a European  Angry Angry Bitcoin and crypto were developed for border less payment and financial freedom but we are still struggling to use crypto worldwide because of VISA and MASTERCARD drama around crypto space.

Hope you will launch this service soon, hats off if you guys can really  make it.
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February 08, 2018, 03:23:27 PM
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I am from one of the Asian country and hope your virtual card and bank account feature will be available to every crypto enthusiast around the world. All of my old crypto based card are now worthless just because I am not a European  Angry Angry Bitcoin and crypto were developed for border less payment and financial freedom but we are still struggling to use crypto worldwide because of VISA and MASTERCARD drama around crypto space.

Hope you will launch this service soon, hats off if you guys can really  make it.

Hi mobnepal
Thank you for showing your interest, We here at appreciate your support and share vision on using cryptocurrencies for payments across international borders:). We will be launching accross Europe very soon, and will be aiming to roll out throughout Asia very soon after. In the mean time you can still register your interest here at https://wirexapp.com/wirex-bank-accounts-almost/.

If you have any question, please don't hesitate to message us Smiley

Wirex — crypto-friendly currency accounts, VISA debit cards, bitcoin wallet, and now PCI DSS certified.
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March 22, 2018, 04:00:14 PM
 #13

Any news on this?
Is it possbile to get business account in Wirex today?
AFAIK, Wirex recently opened its business back only to selected country, if you live in this selected country you might be able to get business account.
You might want to contact them directly or ask them via this topic here to get confirmation from them.
https://bitcointalk.org/index.php?topic=1392468

P.s. next time don't quote the whole post, it makes your post unnecessarily long Smiley
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March 22, 2018, 06:14:14 PM
 #14

For businesses solution it's currently on an invitation-only basis, you need to contact Wirex to ask for an invitation.
I don't know about the Businesses account but for the personal account it will start very soon (I think in the next following days or weeks)

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