Wirex Token: New & Notable Crypto by The Altcoin Agency
A unique approach to cryptocurrency transactions has gained rightful attention right out of the gate.
This article is part of a series called “New & Notable Cryptocurrencies”, a launch sprint by The Altcoin Agency to bring quality content from businesses to users, who offers technical writing, translation, whitepapers, and more to blockchain companies. Follow @AltcoinAgency on Twitter to get future updates and business inquiries.
Cryptocurrency has thus far been at odds with the banking and payments industry for many reasons, but the most ignored reason of them all is adoption. What many companies, users, and even investors get right about crypto adoption is the push to make adoption happen. However as reality sets in, the harsh demands become aware — regulations of government, legal process, risk of profit loss, reasonable acceptance as a payment, and personal possession of a coin all contribute to the hardships of adoption. For most, the push to use crypto as payments simply become a glass house marketing campaign or to simply “pump their own bags”. However, one newly listed token is trying to change that in a fungible way — Wirex Token.
The Wirex Token
To better explain Wirex Token, it’s best to understand that foundation that it rests on and owner of the token — Wirex. The UK company known as Wirex was created in 2014 with the drive and vision to give better financial opportunities and availability to everyone. This was done in two main ways — using the VISA network which could immediately onboard businesses to consumers, and secondary but also more importantly use cryptocurrency as a means of payment. In short, people would be able to own crypto and use it as most retailers instantly worldwide — not one specific cryptocurrency but a spectrum of different ones.
Since then, Wirex has grown pretty well. This year they launched Wirex 3.0, with the showcasing of nine cryptocurrencies, 11 traditional currencies, OTC exchange rates, and more. Wirex has quite the list of features and availability where they have committed to their vision to make crypto part of personal finance and spending. You can read more about Wirex themselves here.
So what’s Wirex Token then, and why was it just make available for a token sale if Wirex has been around for five years? Answer? Because Wirex Token sets the stage for a “next gen” way to look at personal finance.
More Than A Cryptocurrency
Wirex Token is part of the Steller blockchain owned by a subsidiary of Wirex UK. The concept of the token is extremely simple big genius — the Wirex services cost money but any fees associated could be reduced by up to 100% by staking Wirex Token. In addition, the token can be used as a rewards program to incentivize others on the platform. The fee discount for services can be used for exchange fees, monthly management fees, bank transfers, and much much more. Rewards include cash back offers, travel offers, and even business incentives.
This is a wonderful concept — often times services are typically comprised by either having lots of features at the expense of a premium, or by having stripped down features at a budget friendly cost. Wirex manages to do both through the Wirex Token by having a staking option to create up to 100% off of any fees.
The Bright Outlook
For Wirex, the token helps the company launch into the next frontier of their roadmap. They have major plans to be made available in other countries with Japan and India among the front of their list for adoption. Other major fundamentals include their Wirex Business model and lending options. The Wirex Token will serve as an integral part in making these successful.
Wirex Token is much more than it seems as it’s a great way to incentivize users to have discounts on fees and cashback opportunities for the Funchal services that Wirex offers in the cryptocurrency space. It’s refreshing to see any many projects struggle with ways to bring crypto adoption to everyone while not neglecting banks and merchants. The Altcoin Agency picked Wirex Token along with a community vote, which received great sentiment among the public. This is a great sign for Wirex as their token should be utilized in the future.
About Altcoin Agency
Crypto Otsukimi is a Writer and Analyst that is passionate about all things crypto and tech. His formal research experience made it possible to be a self-taught cryptocurrency trader.
Otsukimi focuses a lot on technical and fundamental analysis, with a practical emphasis on how crypto is an ethical step forward in finance and technology.
Some of his background includes professional photography, mobile development and trading bots, and planning humanitarian projects in Southeast Asia.
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