Due to compliance the new Wirex card service does not do instant conversion from bitcoin when you use it, that is, it's not a 'bitcoin debit card'. The new service is a real VISA Debit Card which holds funds in a Currency Account.
We invited Wirex users to submit questions for Pavel Matveev, Co-Founder of Wirex, to respond to on camera, including:
- Are the new cards 'prepaid' or real debit cards?
- Will the WirexApp do the conversion from bitcoin to cash automatically?
- What procedures/processes are different with the new card issuer to prevent (Visa/Mastercard) from revoking the operating licence as they did with Wavecrest?
- What will the card and account limits be?
- Why do you partner with a bank licensed in the UK, considering we are about one year away from brexit?
- What measures are taken to allow customers in the EU to do free euro bank transfers to other accounts?
- What countries will the Wirex card be available in and what countries will we be able to use it in?
- Is it going to be linked to the VISA or Mastercard worldwide network?
- Does Brexit provide an opportunity for Britain to pioneer crypto regulations?
- Could a friendly environment for crypto investors in the UK be the answer to the post-Brexit economic crisis?
- How do you protect you application and wallet from cyber crooks who want to steal crypto coins?
Pavel covered a lot of other details too.
Here’s the full interview:
https://www.youtube.com/watch?v=suXVEfwYlS8&t=929sCheck out the latest entries on the Wirex blog.
And of course, if you’re in the UK, let us have your feedback on the new Currency Accounts and Debit Cards.
Here’s the latest update on when cards will be available outside of the UK
https://wirexapp.com/wirex-europe-can-expect-accounts/Plastic cards will be delivered to verified users at no charge during our launch phase. Be first-in-line by verifying your account today.
