X-Accounts is Wirex’s latest feature to launch, that is set to become one of the world’s most accessible interest-paying accounts. With each X-Account created, you will be able to earn up to 16% interest on your crypto and fiat* funds when you set them aside in pots of money, where Wirex automatically converts them into stablecoins. They offer instant access, no minimum or maximum holdings, and no maintenance fees for each pot, meaning, you are in total control.
DeFi, without the complexity: avoids the expensive fees and complicated processes often associated with DeFi and yield farming
Best % on the market: customers can earn unprecedented levels of interest on both fiat* and crypto funds* when compared to competitors and high-street banks, including up to 10% on crypto funds and 16% on fiat* funds (when converted to stablecoins)
Instant access: giving you the ultimate control where you can add or remove funds at any point
a. No maintenance fees
b. No minimum or maximum holdings
Each X-account created is calculated daily and paid out weekly. Therefore, whatever amount you hold in your designated X-account, you will be getting those gains weekly.
The beauty of X-Accounts is that we are bringing you DeFi, without the complexity. While the development and innovation of DeFi is undeniable, there are certain factors you must consider when using DeFi in this space. Each platform comes with its own set of rules on how to fund, transfer and accumulate earnings. Each process that a customer might do while using a Dapp will incur fees, both in and out. There is also a risk that your private keys might get lost or stolen. And the most concerning risk is that your funds, which you have so tirelessly built upon, might be in jeopardy due to the lack of insurance.
Wirex has enabled X-Accounts, a phenomenal option within the DeFi space, that is all at the touch of your finger and accessible to users of any crypto-savvy level. X-Accounts will allow customers to earn unprecedented levels of interest on both fiat* and crypto funds (converted to stablecoins) when compared to competitors and high-street banks. Avoiding the expensive fees and complicated processes often associated with DeFi and yield farming, users will have the ultimate control over their funds, with instant access, no minimum holdings and no maintenance fees for each pot.
Further removing the complexity and trust issues often associated with owning a crypto wallet, we have also partnered with Fireblocks to integrate their enterprise technology to offer maximum security of user’s funds. Developing Wirex’s reputation for regulatory compliance and customer safety, the partnership will give Wirex up to $30 million on insurance on crypto assets.
Easy earning, done simply and safely.
All you have to do is:
- Open the app
- Click on X-Accounts
- Select your currency
- Add Funds
- Sit back and watch the balance grow
You can leave your X-account to accumulate for as little or as long as you like, giving you the ultimate control over your funds.
No, your funds will not be locked, and you can remove them at any time. You have full control while using your X-account, meaning that if you want to put $100* in and then transfer after a week, that is completely up to you.
You can have as many X-Accounts as you like. Once we have fully launched the feature on 23rd June, this will include:
In the EEA region: BTC, ETH, GBP, EUR*
In the APAC region: BTC, ETH, HKD, AUD, USD*
We will be looking to introduce new X-account currencies as well so keep an eye out!
*All X-Accounts are created using cryptocurrencies, and pay out interest in cryptocurrencies. All mention of X-Accounts using fiat funds refers to fiat funds converted to stablecoins. No interest is paid on fiat funds or paid out in fiat. Terms and conditions apply.
Read the full X-accounts T&Cs here
**X-Accounts are not currently available in Singapore
**X-accounts are temporarily not available for UK customers but we will announce a date as soon as possible