[Guide] Avoiding Wirex Fees sending WXT on Avalanche (AVAX) Chain

Using Exchange in Wirex is comfortable, but expensive. Let me show you why:
All trades and prices are almost at the same time. Notation is 1.000,00€ (dot for k and comma for decimals)

Market prices:
Market price on Kucoin: 1WXT = 0,006483€

Market price on Wirex : 1WXT = 0,006435€

Trading on Wirex:
Buy WXT with 1000€ on Wirex-Exchange seems to bee feeless:
1000€ = 152.049,227662WXT so you buy not at market price but for: 1 WXT= 0,0065768€ (1€/152,049227)
So with 1.000€ you lose about 3.000 WXT or 19€ against market price.

Sell WXT for EUR on Wirex-Exchange:
86705 WXT = 537,47€. Fee is 1.483 WXT = 9,57 (market price). BUT trading price is: 0,0063067€ (1€/158,561756). Even without fee the price to buy WXT on Wirex exchange is 4,3% higher then selling WXT here.

How to avoid it?
To be honest, I just want the Stellar-chain (XLM) back. That was the cheapest way to avoid this.
You can’t use Ethereum-chain (ERC20) instead, because gas-fees around 30€ are much worse.
But you can use C-chain (AVAX) instead.
First of all you need a wallet like MetaMask and AVAX C-Chain on it.
Guide is here:
https(colon)//academy(dot)binance(dot)com/en/articles/how-to-add-avalanche-to-metamask

Network Name : Avalanche Network
New RPC URL : https(colon)//api(dot)avax(dot)network/ext/bc/C/rpc
ChainID : 43114
Symbol : AVAX
and so on.

Then send an amount AVAX of your choice to this network-address to pay gas fees later. Then import WXT-Token (ERC20) to this network.
Token-Adrees is here:
https(colon)//snowtrace(dot)io/token/0xfcDe4A87b8b6FA58326BB462882f1778158B02F1
Guide how to add it:
https(colon)//www(dot)followchain(dot)org/add-custom-token-metamask/

Then you can send WXT from Wirex via C-chain to your wallet.
Fee: 47,13WXT (0,30€).
The transfer didn’t even last a minute to be completed. But due to new limits you have to withdraw a minimum value of 150$.

Now you can swap wxt on chain using metamask to USDC (I recommend USDC here, but used USDT).
SWAP 86.658 WXT to 606,68USDT. SWAP-FEE: 0,02967 AVAX (~2,10€)
https(colon)//snowtrace(dot)io/tx/0xc5ce36f398b270314336dbca44c3ec5e6532ffefc9cc7a5b3491ad2f8d01776c

If anyone knows a cheaper way - please let me know.

Now send this to an exchange of your choice supporting C-chain. (I took Binance here).
FEE: 0,0030717 AVAX (0,22€)
https(colon)//snowtrace(dot)io/tx/0x99915d466ae73c23fc2f62d4f75fb813d3a5a4dd11346f5e1774efe2d08c5fa6

I already had another 220 USDT in here for testing - don’t care about that.

GAS prices are sometimes higher. I tradet at 08:00 AM UTC.
You can check this here: https(colon)//ethereumprice(dot)org/gas/

On Binance i changed the USDT to EUR:
606,68 USDT = 556€ (1USDT = 1,091€). FEE in BNB for 556€ (0,075%): 0,42€. For all 826,87 USDT it was 0,00146463 BNB.

And back to Wirex

After that I transfered 556€ to my Binance funding, so I can use it with my Binance-Card.

Now i could top up my Wirex account with my Wirex-Credit-Card for 556€. And transfered 556€ insted of 537€ to my EUR-X-Account.

One week later I will receive WXT again for my X-Savings and start this again.
WIREX → WALLET → Binance/Crypto.com/Whatever → Wirex.

Within 15 minutes I save 15€ each week

SUM UP
Bincance EUR - Binance-trading-fee - Avax-Sending-fee - AVAX-SWAP-fee - Wirex-Exchange-Price = saved money
556€ - 0,42€ - 0,22€ - 2,10 - 537,47€ = 15,79€
Theoretically: changing without transfer and fees on market-price would have been: 86705WXT * 0,00645€ = 559,25€. So I paid 6€ fees at all.

If you are happy to save a lot of money now, feel free to donate me:
WXT on Stellar-Chain (XLM): GAJ4BSGJE6UQHZAZ5U5IUOABPDCYPKPS3RFS2NVNGFGFXGVQDLBQJW2P + Memo: 1914275014
WXT on Avalanche C-Chain (AVAX): 0x353396548876E57C1bFe446F4A7f325CffE74E00
USDT on Stellar-Chain (TRC20 / XLM): TGEffQD95ekkBJGx1rCFdH3zyXPMDackoX
USDT on Avalanche C-Chain (AVAX): 0x89f12819fdbe6d551331d8bf9ae2cfb43f78b242

Best regards
beneblack

P.S.: Third post, because the first two wer merged to a support ticket that has nothing to do with.

4 Likes

Don’t do this anymore.
Instead sent WXT via Avalanche to gate.io and change it to USDt. Go on from there as you like.

3 Likes

thanks for post and update

2 Likes

hi yes Gate IO wxt is supported Cchain