Crypto Corner - A Profile on WXT

This week, the spotlight is on a crypto asset particularly close to our hearts - it’s our very own Wirex Token (WXT).

The first ever native token on the Wirex platform celebrates its first birthday this Friday - it’s hard to believe a whole year has passed since its inception. We’ve got a lot going on to celebrate this milestone, including giving our lucky WXT community some pretty exciting birthday gifts, so make sure you keep an eye out for further information on that this weekend.

But before we get to that, let’s rewind a bit and take a look at how and why WXT came about.

WXT was created as a key part of the Wirex ecosystem, with Wirex users at the forefront. Rather than being designed for trading or speculation, WXT is a utility token providing a tangible use and value to its holders.

Our end goal is ultimately the widespread adoption of a token economy. We saw creating WXT as a way of inching closer to this, while also providing the perfect opportunity to give something back to our loyal customers along the way.

In a nutshell, WXT represents a universal fee and reward unit designed to offer our ever-growing customer base access to unique, otherwise unavailable rewards, while making our services more cost-efficient for frequent users.

Simply buying and holding WXT allows Wirex users to get so much more out of their accounts. Our tiered reward system offers WXT holders exclusive benefits based on how many tokens they hold, including higher limits, huge reductions on fees and even greater Cryptoback™ rewards when using a Wirex card in-store.

WXT certainly got off to a flying start. Following a successful pre-sale on the Wirex platform which saw 10,000 users snap up tokens, further overwhelming demand led to an Initial Exchange Offering through the OKEx platform which was practically over before it began.

One year on and our WXT community is thriving. And with plenty more benefits in the pipeline for 2020 (such as bespoke merchant offers and airport lounge access), now is definitely the time to get in on the action.

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I hold enough WXT to get the additional 1% CryptoBack rewards. Compared to my bank in the UK now reducing cashback to 0.5% it’s basically double the best free-cards I could find from the big banks. Would be great to add moe rewards to holders of WXT in the near future to add to the rewards on offer!

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