In March 2016 WireX has released the first two-way bitcoin debit card with a buy bitcoin function. It will allow its users to fund their bitcoin accounts from anywhere via traditional bank transfers as well as alternative payment methods. As it announced in February, WireX Limited aims to become the world’s first hybrid personal banking solution which combines the benefits of blockchain technology with everyday finances, and it has just taken one more step in this direction.
Buy bitcoins through PayPal, Yandex, Qiwi and other payment methods
From now on WireX customers can use their bitcoin debit cards to buy bitcoins as well as spend their money wherever Visa and MasterCard are accepted. Cardholders can use the card to exchange fiat currencies for bitcoin, as well as spend bitcoin at places that only accept fiat.As Dmitry Lazarichev, the co-founder of WireX, has put it, WireX services are:
“Designed to close the gap between digital currencies and traditional currencies for everyday financial transactions.”
WireX clients do not need a bank anymore to top up their debit card accounts - they can purchase bitcoins through popular alternative payment methods (PayPal, PaySafeCard, Sofortuberwesing, Neosurf, Yandex, Qiwi, Webmoney, Multibanco, P24, iDeal, Abaqoos, GiroPay, EuTeller, Banklink, eKonto, China Union Pay, Alipay, ePay, Mistercash and Poli). This way of transfer is expected to benefit WireX’s clients in over 130 countries.
How to buy bitcoins with WireX
On their website, Wirex has published an precise instruction on how to buy bitcoins using the service:
“First, you must have an E-Coin account and a virtual or plastic debit card with us. Don’t worry, the E-Coin platform will be 100% compatible with WireX. All E-Coin accounts will become WireX accounts in April, once the new site is fully launched. Here’s how to get an E-Coin debit card. Get the card and the benefits now. It can help your finances, especially if you are traveling abroad!”
They have also posted an explanation guide on how to link E-coin card to Paypal. The fees will be less than the other debit cards and are shown here.
Wirex supports international and domestic bank transfers directly to users’ accounts. With partner banks in over 68 countries, customers can make quick domestic transfers to their Wirex debit card accounts. Supported banks include Barclays, Lloyds, ING and the Royal Bank of Scotland.
Tim Frost,VP of Marketing and Business Development at WireX Limited, said:
“On Monday at 21/ 03/2016 we launch buy bitcoin with Paypal as well for 37 countries, Bahamas, Bahrain, Botswana, Bulgaria, Chile, Croatia, Estonia, Georgia, Gibraltar, Honduras, Iceland, Indonesia, Israel, Italy, Jordan, Kazakhstan, Latvia, Lesotho, Liechtenstein, Lithuania, Luxembourg, Malaysia, Malta, Mauritius, Moldova, Morocco, Mozambique, Oman, Philippines, Romania, San Marino, Saudi Arabia, Senegal, Serbia, Slovakia, Slovenia, Turkey, United Arab Emirates, and Uruguay.”