Review on Wirex Wallet by Olugbenga Ajayi
Wirex wallet is feature rich
Wirex wallet is a decentralized wallet that supports Bitcoin, Litecoin, ethereum and other five cryptocurrencies. It also supports major flat Currencies. There are many features that earned the wallet a lot of accolades.
Firstly the wallet is highly secure. It uses many means to ensure that funds are kept safe. For instance, it uses highest level of PCI DSS level 1 to guarantee security. It equally use biometric and 2FA. It also make use of cold storage.
Secondly transaction is made easy in the wallet when we consider that the wallet has inbuilt exchange and particularly when linked with its debit card, conversion of cryptocurrencies to flat for online payment becomes convenient. In addition, it does not charge commission or fee on these transactions. The exchange rate it offers is also very cheap compared to what is obtainable in banks.
The wallet is very suitable for use by individuals and corporations since it has multisig functionality.
By and large, it is obvious that wirex wallet is feature rich but some complains coming from it's adopters gives reasons for doubt about their operations as can be found in the CONs section.
Pros
- Wired wallet supports IOS, Android and web
- Can be used to hold cryptocurrencies and flat Currencies
- It is a decentralized wallet
- Offer multisignature function
- Almost all funds are stored in cold storage
- Uses multifactor authentication system for security and it is licensed by FCA
- Does not charge commission or fees
- Has inbuilt exchange
Cons
- Complains coming from users revealed some fraudulent operations, like in some cases that the asset balances have been reduced and in other cases charges are made on old transactions
- It set limits on some vital wallet's operation
- Poor customer support services
